Global Defibrillator Market Growing Trade Among Emerging Economies Opening New Opportunities

The Global Defibrillator Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global Global Defibrillator market. This report explores all the key factors affecting the growth of the global Global Defibrillator market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Description of the Global Defibrillator Market

Research Scope and Assumption

The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
Inflation has not been accounted for in order to estimate and forecast the market
Numbers may not add up due to rounding off

Research Objective:

To analyze and forecast the market size of Global Defibrillator market
To classify and forecast Global Defibrillator market based on application, drugs, project type, and application.
To identify drivers and challenges for Global Defibrillator market
To examine competitive developments such as mergers and acquisitions, agreements, collaborations and partnerships, etc., in Global Defibrillator market
To conduct pricing analysis for Global Defibrillator market
To identify and analyze the profile of leading players operating in Global Defibrillator market

Reason to buy the report:

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Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the oncology drug market
Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
To strategically profile key players and comprehensively analyze their market shares and core competencies
We have technically sound team which do a deep dive research and also provide strategy-based consulting analysis

Global Defibrillator Market Executive Summary

According to data published by the National Institutes of Health in 2016, an estimated 450,000 people suffer due to sudden cardiac death. Since the prevalence and incidence of out-of-hospital cardiac arrest are increasing, developed as well as emerging nations are strictly focusing on installations of external defibrillators in public places such as schools, hotels, shopping malls, streets, and others. Combined with this, education is being offered in schools to spread awareness about them amongst children with the aim to deal with cardiac arrests, which is expected to offer a significant amount of opportunity for the growth of the defibrillator market by 2026

Market Size and Key Findings

The Global Defibrillator market size is at around USD 11.4 billion in 2021 and is projected to reach USD 18.2 billion in 2026, exhibiting a CAGR of 9.7% during the forecast period.

The rising prevalence of target diseases, growing focus on providing public-access defibrillators, and training and awareness programs on defibrillators. In addition, emerging markets and the development of S-ICDs and MRI-compatible ICDs & CRT-Ds are expected to offer growth opportunities for players in the defibrillators market.

Market Dynamics

Market Growth Drivers Analysis

Growing focus towards public access defibrillator (PAD) by the public and private organizations has fueled the market growth. Moreover, increase in number of key players to develop advanced defibrillator devices, rapidly growing geriatric population with elevated risk of cardiac arrest and increase in incidence of cardiac diseases further drive the market growth. Defibrillators are capable of performing cardioversion, defibrillation, and pacing of the heart. External defibrillators are of three major types, namely manual external defibrillator, automated external defibrillator (AEDs), and wearable cardioverter defibrillator (WCDs). AEDs are used for the treatment of sudden cardiac arrest (SCA) due to its high efficiency and ease in use, thereby bagging a large market share in the global defibrillator market.

Market Restraints

Issues related to the use of implantable and automated external defibrillators like AEDs installed in public places are sometimes prone to failure due to problems pertaining to the battery, software, and hardware and cybersecurity concerns are major concern in the defibrillators market. Furthermore, increase in pricing pressure on players is restraining the growth of the defibrillators market. anticipated to obstruct growth.

COVID-19 impact on "Global Defibrillator Market

The COVID-19 outbreak is anticipated to have a negative impact on growth of the global defibrillators market. The outbreak of COVID-19 has disrupted workflows in the healthcare sector globally. The pandemic affected the buying capacities of hospitals, particularly in small-scale hospitals, resulting in canceled or postponed supply deals and procedure, which has impacted the overall revenue of all the major players in the defibrillators market.

Competitive Landscape

Key Players

Prominent players in the defibrillators market include Medtronic (Ireland), Stryker Corporation (US), Koninklijke Philips N.V. (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US), Abbott (US), Nihon Kohden (Japan), MicroPort (China), BIOTRONIK (Germany), CU Medical Systems (South Korea), METsis Medikal (Turkey), Mediana Co. Ltd. (Korea), Mindray Medical International Ltd. (China), Progetti SRL Medical Equipment Solutions (Italy), and Schiller AG (Switzerland).

Products in Pipeline

REFINE-ICD: GE Healthcare

The product is in pipeline to evaluate whether an implantable defibrillator will increase the likelihood of survival in patients who have had a heart attack in the prior 5 years, have abnormal test results from a 24 hour heart monitor, and who have low normal heart function. The REFINE ICD trial will assess whether prophylactic ICD therapy, guided by non-invasive risk assessment tools, reduces mortality in MI survivors with better-preserved LV function. The study is estimated to be complete by December 2021.

MADIT S-ICD: Boston Scientific Corporation

The MADIT S-ICD trial is designed to evaluate if subjects with a prior myocardial infarction, diabetes mellitus and a relatively preserved ejection fraction of 36-50% will have a survival benefit from receiving a subcutaneous implantable cardioverter defibrillator (S-ICD) when compared to those receiving conventional medical therapy. The study is estimated to be completed by December 2023.

Notable Recent Deals

July 2021-ZOLL Medical Corporation, announced that the company has received clearance from FDA 510(k) to release the TBI (traumatic brain injury) Dashboard feature on its Propaq M monitor and Propaq MD defibrillator. This feature provides clinical decision support for managing patients with TBI and was available in international markets but with the FDA clearance it is now available in U.S. market.

March 2021- The Rankin government made an announcement that all public schools in Nova Scotia a will be provided automated external defibrillators. The government made an investment of USD 700,000. The purpose of this investment is the availability of these devices at the time of cardiac emergency.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario of Global Defibrillator Services

Centers for Medicare and Medicaid Services(CMS), which is a part of the US department of health and human services, provides reimbursement for the wearable defibrillator across a number of high-risk patient groups.

The U.S. Food and Drug Administration issued several regulations on AEDs, including required premarket approval for new and existing AEDs (2015) and necessary accessories (2020) after reports of failing or malfunctioning devices. Some issues were due to manufacturing problems, while others were due to improper maintenance such as battery failure.

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Defibrillator Market Segmentation

By Product Type :

Based on product type, the defibrillator market is segmented into implantable cardioverter defibrillators and external defibrillators. The implantable cardioverter defibrillator (ICDs) segment is expected to dominate this market during the forecast period. The large share of this market segment can be attributed to the increasing prevalence of cardiovascular diseases and the development of technologically advanced defibrillators

Implantable Cardioverter Defibrillators
External defibrillators.

By Patient Type :

Based on patient types, the defibrillator market is segmented into adult and pediatric. The adult patient segment segment accounted for the largest market share in 2020. The adult patients segment dominated the global defibrillators market with a share of 59.5% in 2020.

Adults
Pediatric

By End Users :

Based on end users, the defibrillators market is segmented into hospitals, clinics, and cardiac centers; prehospital care settings; public-access markets; alternate care facilities; home care settings; and other end users. The hospitals, clinics, and cardiac centers segment dominated the global defibrillators market, with a share of 80.2%, in 2020.

Hospitals
Clinics and Cardiac Centers
Prehospital Care Settings
Public-access Markets
Alternate Care Facilities
Home Care Settings
Others

By Region :

North America

US

Canada

Europe

Germany

UK

France

Italy

Spain

Asia Pacific

Japan

China

India

South Korea

Singapore

Australia

LAMEA

Brazil

Argentina

Egypt

Israel

South Africa

Rest of LAMEA

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global Global Defibrillator Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global Global Defibrillator Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Global Defibrillator market
Chapter 2: Exclusive Summary - the basic information of the Global Defibrillator Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Global Defibrillator
Chapter 4: Presenting the Global Defibrillator Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the Global Defibrillator market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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