![]() |
Market Research Report
Product code
1070495
Defibrillators Market by Product (Implantable Defibrillators and External Defibrillators) and End User (Hospital, Pre Hospital, Public Access Market, Alternative Care, and Home): Global Opportunity Analysis and Industry Forecast 2021--2030 |
Defibrillators Market by Product (Implantable Defibrillators and External Defibrillators) and End User (Hospital, Pre Hospital, Public Access Market, Alternative Care, and Home): Global Opportunity Analysis and Industry Forecast 2021--2030 |
Published: February 18, 2022
Allied Market Research
Content info: 172 Pages
Delivery time: 2-3 business days
|
The global defibrillators market was valued at $13,168 million in 2020, and is projected to reach $24,608.3 million by 2030, registering a CAGR of 6.6% from 2021 to 2030.
Defibrillation is a medical procedure used to treat life threatening conditions that affect the rhythm of the heart such as cardiac arrhythmia, ventricular fibrillation, and pulseless ventricular tachycardia. The procedure involves the delivery of an electric shock to the heart, which causes depolarization of the heart muscles and re-establishes normal conduction of the heart's electrical impulse. The device that delivers the therapeutic shock to the heart is called a defibrillator.
The defibrillators market is witnessing tremendous growth owing to technological advancements in the field of defibrillators, rise in prevalence of cardiac diseases, and rise in training and awareness programs among physician and researcher for defibrillators.
The major factors that drive the market include increase in adoption of technologically advanced medical devices, rise in demand for quality medical care, and high incidences of sudden cardiac arrest (SCA). In addition, the increase in R&D activities to develop medical devices and increase in number of key market players to manufacture advanced defibrillators across the globe are a few more factors that drive the growth of the defibrillators market. Moreover, promoting the innovation of the next-generation external defibrillators to improve safety and effectiveness of devices, identifying and addressing problems associated with devices by the Food and Drug Administration (FDA), and focusing on the treatment of SCA are anticipated to create lucrative opportunities for the growth of the defibrillators market.
However, lack of awareness about sudden cardiac arrest in developing nations are expected to hinder the growth of the defibrillators market during the forecast period. Moreover, limited reimbursements in developed nations and lack of infrastructure, particularly in developing and underdeveloped countries are also expected to hinder the market growth.
The defibrillators market in this report is studied on the basis of product, end user, and region. On the basis of product, the market is divided implantable defibrillators and external defibrillators. Implantable defibrillators are classified into transvenous implantable cardioverter defibrillator (T-ICDs), subcutaneous implantable cardioverter defibrillator (S-ICDs), and cardiac resynchronization therapy- defibrillator (CRT-D). External defibrillators are further classified as manual external defibrillator, automated external defibrillator (AEDs), and wearable cardioverter defibrillator (WCDs). As per end user, the market is segregated into hospitals, pre-hospital, public access market, alternative care, and home. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America accounted for the largest market share in the defibrillators market in 2020, and is expected to retain its dominance during the forecast period. This is primarily attributed to initiatives by key players for manufacturing of advanced defibrillator device, favorable regulations by government and private organizations, and technologically advanced healthcare facilities in the U.S. and Canada. However, Asia-Pacific is expected to witness considerable market growth during the forecast period, due to development of healthcare infrastructure, high patient population, and prevalence of cardiac diseases.
The major players operating in the global defibrillators market are Asahi Kasei Corporation, Stryker Corporation, Biotronik SE & Co. KG, Boston Scientific Corporation, Philips Healthcare, LivaNova PLC, Medtronic plc, Cardiac Science Corporation, Nihon Kohden Corporation, and St. Jude Medical, Inc. These players adopted product launch, collaboration, and merger & acquisition as their key developmental strategies.