Global Cardioverter Defibrillator Market Would Grow Significant CAGR By 2023 | 8.9% CAGR | Drivers, Restraints, Opportunities, And Challenges
Growth in Asia Pacific region to drive the global Cardioverter Defibrillator Market.
A cardioverter defibrillator is a device which can be implanted or externally used for the purpose of cardioversion, defibrillation, and pacing of the heart. The device is capable of preventing sudden deaths due to cardiac arrest or lethal arrhythmia. It is used to check the rhythm of the heart and then respond with an electrical shock to restore the normal heart rhythm.
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The major factors driving the growth of the cardioverter defibrillator Market are the rising geriatric population and the increasing prevalence of cardiovascular diseases. However, the high implant cost and stringent reimbursement policies are expected to impede the market growth.
Newer methods of delivering cardiac care to patients are being studied. In 2017, a study was carried out in Sweden, in which drones carrying external defibrillators were sent to rural areas in order to analyse if drones could deliver defibrillators faster than ambulances.
The implantable cardioverter defibrillator Market is expected to be the highest growing segment in the global cardioverter defibrillator Industry. Implantable cardioverter defibrillator are pager-sized devices that are placed in a patient’s chest to reduce the risk of cardiac arrest.
The Cardioverter Defibrillator Market in Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The major factors driving the growth of the cardioverter defibrillator market in this region are the rising geriatric population, the increasing focus of the major players on this region, and the increasing prevalence of target diseases in this region.
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The Scope of the Cardioverter Defibrillator Market Report
The key players in the Cardioverter Defibrillator market are Medtronic (Ireland), Boston Scientific (US), Abbott (US), Biotronik (Germany), Physio-Control (US), Philips (Netherlands), Cardiac Science (US), Mindray Medical (China), Nihon Kohden Corporation (Japan), and Zoll Medical (US), amongst others. Medtronic is dominating the defibrillators market due to its broad product portfolio and strong geographical presence.
The major strategies adopted by the companies in order to gain market share include new product launches and mergers and acquisitions. For instance, in June 2017, Abbott announced the completion of its acquisition of St. Jude Medical Inc. The completion of this acquisition will help Abbott to broaden its cardiovascular portfolio into atrial fibrillation, structural heart, heart failure, and chronic pain complement and thereby, increase its market share and geographical presence in the cardiovascular devices market.
Key Questions Answered:
What is the value of the overall Cardioverter Defibrillators Market and its segments?
What is the market value and volume at the regional and individual country level?
What are the attractive segments and geographies to invest in?
What are the key drivers, restraints, opportunities, and challenges in the market and how are they expected to impact the Cardioverter Defibrillator Market?
What are the macroeconomic indicators impacting the country’s dynamics?
Who are the key market players and their key competitors?
Who are the major players present in each region and their key strategies?
How are the Cardioverter Defibrillator Market players positioned with respect to their business strength and product portfolio?
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