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Defibrillators Market Growth Factors, Applications, Regional Analysis, Key Players and Forecasts by 2022

11-24-2020 08:45 PM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Defibrillator Market

Defibrillator Market

The global defibrillators market would reach $15,610 million by 2022. Implantable cardioverter defibrillators (ICDs) segment is expected to dominate this market throughout 2015 and 2022. North America would continue to lead, accounting for more than two-fifths share of the world defibrillator market in 2015.

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Advent of automated external defibrillators (AEDs) for public access places, rising incidences of sudden cardiac arrest, and growing awareness towards public access defibrillators worldwide are the factors majorly driving the market growth. The rising number of application areas for defibrillators, coupled with increasing adoption of defibrillator systems (both ICDs and external defibrillators) in cardiology, is expected to boost the world defibrillators market growth. Cost-effectiveness, safety, high accessibility, and clinical value in preliminary treatment of sudden cardiac arrest strengthen the technological advancements in this market. In addition, increase in number of advanced implantable cardiac defibrillators (S-ICDs, T-ICDs, and CRT-D) and awareness about early treatment of life threatening cardiac diseases (such as cardiac arrhythmia, ventricular fibrillation, and sudden cardiac arrest) are anticipated to further drive the demand for defibrillators globally. However, unawareness, unfavorable healthcare reforms, certain issues related to (external and implantable) defibrillators are the limitations that restrict the market growth.

Automated external defibrillator (AEDs) segment is projected to maintain its lead in the overall external defibrillators market due to its increasing installations at public or private places such as schools, work place, airports, sports arenas, government offices, and others. The growing demand of AEDs in the developed economies of North America and Europe have further boosted the market growth. Furthermore, wearable external defibrillator is anticipated to exhibit the highest growth, with a CAGR of 12.3% during the forecast period. This is owed to the advanced protection by these defibrillators for sudden cardiac arrest and increase in demand from home healthcare facilities.

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Key Findings of Defibrillator Market:

In 2015, T-ICDs led the overall implantable defibrillator market revenue, and is projected to grow at a CAGR of 4.9% during the forecast period.
Wearable external defibrillator segment is expected to grow at a remarkable CAGR of 12.3%, owing to the non-invasive nature and increased demand of home healthcare for the treatment of sudden cardiac arrest.
Fully-automated defibrillator segment is projected to grow at a CAGR of 9.9% during the analysis period.
The automated external defibrillator (AEDs) is projected to generate the largest revenue in the external defibrillator market.
Japan is the major shareholder accounting for about half share of the Asia-Pacific defibrillators market.
However, Asia-Pacific is projected to be the fastest growing region throughout the analysis period. Japan, being dominant in the Asia-Pacific especially in external defibrillator market, contributes solely for the AEDs market share. This is a result of awareness about the early prevention of sudden cardiac arrest. Also, improving healthcare infrastructures and increasing expenditures in the emerging markets (such as India and China) to overcome the unmet medical needs in these countries have bolstered the market growth. Technological advancements for cost-effective devices in these nations offer a lucrative opportunity for the defibrillator market growth.

The key players in the defibrillators market are focused on expanding their business operations in the fast-growing emerging countries with new product launches as a preferred strategy. The major players profiled in this report include ZOLL Medical Corporation (a subsidiary of Asahi Kasei Corporation), Stryker Corporation, Biotronik SE & Co. KG, Boston Scientific Corporation, LivaNova PLC, Medtronic plc, Koninklijke Philips N.V., Defibtech, LLC, St. Jude Medical, Inc., Nihon Kohden Corporation, and Cardiac Science Corporation.

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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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