PUBLISHER: The Business Research Company | PRODUCT CODE: 1210066
PUBLISHER: The Business Research Company | PRODUCT CODE: 1210066
“Defibrillator Devices And Equipment Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on defibrillator devices and equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for defibrillator devices and equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The defibrillator devices and equipment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Companies Mentioned: Medtronic; St. Jude Medical LLC; Boston Scientific Corporation; Koninklijke Philips N.V; ZOLL Medical Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Major players in the defibrillator devices and equipment market are: Medtronic, St. Jude Medical LLC, Boston Scientific Corporation, Koninklijke Philips N.V, ZOLL Medical Corporation, Cardiac Science, Physio-Control Inc, Nihon Kohden Corporation, Defibtech LLC, and Schiller AG.
The global defibrillator devices and equipment market will grow from $9.75 billion in 2022 to $10.61 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The defibrillator devices and equipment market is expected to grow to $14.12 billion in 2027 at a CAGR of 7.4%.
The defibrillator devices and equipment market consist of sales of instruments such as manual external defibrillator, implantable cardioverter defibrillator, manual internal defibrillator, automated external defibrillator, and wearable defibrillators. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Defibrillator devices and equipment are used in the emergency treatment of life-threatening cardiac arrhythmias and abnormal heart rhythms by giving a high electrical energy shock to the heart through the chest wall to restore its normal rhythm function.
North America was the largest region in the defibrillator devices and equipment market in 2022. Western Europe was the second-largest region in the defibrillator devices and equipment market. The regions covered in the defibrillator devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of defibrillator devices and equipment are implantable defibrillators and external defibrillators. An implantable defibrillator is a small battery-powered device placed for detecting and stopping irregular heartbeats. The implantable defibrillators are transvenous implantable cardioverter-defibrillator (T-ICDS), subcutaneous implantable cardioverter-defibrillator (S-ICDS), cardiac resynchronization therapy- defibrillator (CRT-D), single & dual chamber. The external defibrillators are manual external defibrillators (MEDs), automated external defibrillators (AEDs), and wearable cardioverter defibrillators (WCDs). The various end-users are hospitals, pre-hospitals, public access market, alternate care market, and home healthcare.
The rising incidence of sudden cardiac arrest (SCA) is one of the major drivers of the defibrillator devices and equipment market. According to the American Heart Association (AHA), the annual incidence of SCA in people of any age is around 356,461. SCA is characterized by the complete cessation of cardiac activity and defibrillators are used to deliver a therapeutic shock to the patient to revive the heartbeat. Due to this, the market for defibrillators is forecasted to grow.
The high cost of these devices is impeding the growth of the defibrillator market. In the USA, the health care costs for administering therapeutic shock using implantable cardioverter-defibrillator (ICD) range between about $1,300 and $20,000 per patient for outpatient and inpatient care. Apart from healthcare costs, other charges such as maintenance cost, battery replacement cost, and annual servicing charges are also added to the overall cost. For instance, if AED (Automatic External Defibrillator) is used on a person suffering from a sudden cardiac arrest, then it will need to undergo maintenance before it can be used again. This includes service and the replacement of batteries and pads. Owing to these economic factors, the growth of the overall market for defibrillator devices and equipment is restrained.
Technological advances are one of the major trends being witnessed in the defibrillator and equipment market. Over the last three decades, AEDs (Automated External Defibrillators) have been upgraded with several new features such as rechargeable batteries, LCD screens, voice prompts, CPR tutorials, sophisticated self-testing software, fully automatic operation, and new types of shocks. There have been several recent advancements in implantable cardioverter-defibrillator (ICD) technology to extend battery life, improvements in patient monitoring to avoid needless shocks, the introduction of quadripolar lead devices to improve device programming and to improve therapy effectiveness, and the development of magnetic resonance imaging (MRI)-safe ICDs.
Defibrillators are subjected to stricter regulations by USFDA when compared to other devices. For instance, the US FDA ordered the PMA approval for new and existing automated external defibrillators. Due to manufacturing issues, the FDA has recalled more than 2 million devices since 2005.
The countries covered in the defibrillator devices and equipment market are: Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The defibrillator devices and equipment market research report is one of a series of new reports from The Business Research Company that provides defibrillator devices and equipment market statistics, including defibrillator devices and equipment industry global market size, regional shares, competitors with a defibrillator devices and equipment market share, detailed defibrillator devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the defibrillator devices and equipment industry. This defibrillator devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.