Defibrillators Market 2021-2027: Global Size, Share, Growth, Trends

Precision Business Insights published a research report on “Defibrillators Market by Product type (Implantable Cardioverter Defibrillators (Single Chamber Implantable Cardioverter Defibrillator, Dual Chamber Implantable Cardioverter Defibrillator), External Defibrillator (Manual, Automated, Wearable), by End-user (Hospitals, Cardiac Clinics, Home Care, Others), and Geography - Global/Region/Country Forecast to 2027”.

A defibrillator is a medical device that sends an electrical pulse to the intestines to restore a normal heartbeat. They are frequently used to avoid life-threatening disorders such as pulseless ventricular tachycardia, arrhythmia, and fibrillation. Implantable and external defibrillators are the two types of defibrillators available. The International Liaison Committee on Cardiopulmonary Resuscitation (ILCOR) modified the resuscitation recommendations during the pandemic in the aftermath of COVID-19. It suggested that offering training to healthcare personnel improve defibrillation delivery, which could lessen confusion and delay in COVID-19 resuscitation operations. The training would also protect healthcare personnel from additional hazards, and patients suffering from tachyarrhythmic arrests would have the best possible chance of surviving. Furthermore, defibrillators were proven to be particularly effective in reviving abrupt cardiac arrest in COVID19, driving up demand for defibrillators in pandemic situations.

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One of the primary factors driving the market's growth is the rising prevalence of cardiovascular diseases (CVDs) and sudden cardiac arrest (SCA) around the world. Such problems are common among the elderly and those suffering from other linked illnesses such diabetes, atherosclerosis, hypertension, and stroke, which is boosting product adoption in both developed and developing countries. In addition, the increased implementation of ICDs across healthcare facilities is boosting market growth. Modern ICDs are equipped with cutting-edge subcutaneous and transvenous patches that help to improve the patient's overall efficiency and comfort. Various technical breakthroughs, as well as the development of wearable cardioverter defibrillators (WCDs) that can aid in the prediction of SCA risks, are also boosting market expansion. Other factors expected to boost the market include the implementation of favourable regulations to improve defibrillator training and awareness, as well as substantial research and development (R&D) activities and increased government funding in the healthcare sector.

Based on the type, the market is fragmented as implantable cardioverter defibrillators and external defibrillators. The ICDs segment held the larger share of the defibrillators market in the year 2019. Based on the end-user type, the defibrillators market is segmented as hospitals, clinics & cardiac centers, prehospital care settings, public access markets, alternate care facilities, and homecare facilities.

In terms of geography, North America dominated the market in 2019 and is expected to continue to do so throughout the projected period. During the projection period, major factors such as an increase in the elderly population, an increase in the incidence of cardiac disorders, and technological developments would fuel the expansion of the defibrillators market in the area. During the forecast period, Asia-Pacific and Europe are expected to offer significant growth prospects.

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Some of the major key players in the defibrillators market are Medtronic (U.S.) Abbott Laboratories (U.S.) Asahi Kasei Corporation (ZOLL Medical Corporation) (Japan) LivaNova PLC (U.K) Physio-Control, Inc. (U.S.) Nihon Kohden Corporation (Japan) Koninklijke Philips N.V. (Netherlands) Boston Scientific Corporation(U.S.)

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