PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182898
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182898
Defibrillators Market size was valued at USD 13,805.1 Million in 2021, expanding at a CAGR of 10.3% from 2022 to 2028.
Defibrillators are medical devices used to transfer therapeutic shock to the patient heart in a life-threatening condition such as cardiac arrhythmias, ventricular fibrillation, and pulseless ventricular tachycardia. Additionally, to restore a normal heartbeat this defibrillator's procedure is used to deliver an electric pulse rate to the heart. Defibrillators are of different types such as automated external defibrillators (AEDs) and implantable defibrillators. Moreover, AEDs are movable and life-saving devices used in the treatment of sudden cardiac arrest.
The key factors propelling the market growth of defibrillators are the growing incidence of sudden cardiac arrest (SCA), favorable initiatives by government and healthcare organizations, increasing awareness among the general public, and increasing product development. Additionally, AEDs are expected to lead the worldwide market growth due to the increasing use by heart failure patients globally. However, the increasing pricing pressure on players is expected to restrain the market growth during the forecast period.
Moreover, the defibrillator market is expected to rise faster due to the developments in next-generation defibrillators. In addition, device-related issues can be assisted and detected by these next-generation defibrillators. Furthermore, SCA is the world's leading cause of death and life-threatening disorder. In addition, defibrillation and early invention can control this disease. COVID-19 affects the economy globally in three ways such as the financial impact on firms and the financial market, directly affecting demand and production of drugs, and medical devices by disrupting distribution channels. Moreover, due to the increased risk of COVID-19 cardiovascular procedure was postponed. As a result, the defibrillators market has a negative impact.
The global defibrillators market is segmented on the basis of product type, patient type, end-user, and region.
The market is divided into seven categories based on product type: transvenous implantable cardioverter, implantable cardioverter, external defibrillators, subcutaneous implantable cardioverter, manual & semi-automated external, fully automated external, and wearable cardioverter. The implantable cardioverter segment is expected to hold the largest market share during the forecast period. The development of technologically advanced defibrillators and the growing prevalence of cardiovascular disease is attributed to driving this market segment growth.
The market is divided into two categories based on patient type: adult, and pediatrics. The adult patient segment is expected to dominate the market due to increased cardiovascular disease, high blood pressure, heart disease, obesity, high cholesterol, and diabetes. In addition, the advanced development of CRT-Ds, ICDs, and AEDs as well as increasing awareness about cardiac disease are the rising factor contributing to the adult factor segment growth.
The market is divided into seven categories based on end-user: hospitals, clinics, cardiac centers, pre-hospital care settings, public access markets, home care settings, alternate care facilities, and others. The hospital segment is expected to increase the defibrillators market growth. Due to the surgeries performed in the hospital and the increasing number of cardiac patients in hospitals.
The continued installation of external defibrillators in hospitals and public spaces makes it one of the most competitive sectors globally. Additionally, techniques are adopted by various companies to strengthen their market share. These include regional expansion, partnerships and collaborations, product development, and mergers & acquisitions. Moreover, the increasing initiatives to increase the availability of trained personnel, public access, and improved response to SDC are some of the key factors for the development of the defibrillators market. Furthermore, increasing awareness about its life-saving powers the device installed in the train station, universities and schools, airports, shopping centers, and malls. Anyone can use public-access defibrillators in a medical emergency.
For instance, In February 2022, Zoll Medical Corporation, an Asahi Kasei Company, produced medical devices and software solutions that further help in advance emergency care and save lives, along with increasing clinical and operational efficiencies.
The scope of this report covers the market by its major segments, which include as follows: