Press release
Defibrillator Market is projected to reach a Revenue of US$ 24.9 Bn at a CAGR of over 7.4% during 2022 - 2032
The global defibrillator market is witnessing significant growth due to the increasing prevalence of cardiovascular diseases, rising demand for emergency medical services, and technological advancements in defibrillator devices. A defibrillator is a medical device that is used to deliver an electric shock to the heart to restore its normal rhythm during cardiac arrest. The market for defibrillators is witnessing substantial growth due to the increasing demand for improved patient outcomes, better emergency response, and increased survival rates.Newly-released Defibrillator Market analysis report by Persistence Market Research shows that global sales of the Defibrillator Market in 2021 were held at US$ 11.4 Bn. With 7.4%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth. Implantable Cardioverter Defibrillators (ICD) are expected to be the highest revenue-generating segment in the defibrillator market, projected to grow at a CAGR of over 7.4% during 2022 - 2032.
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The application of defibrillators is widespread across various healthcare settings, including hospitals, ambulances, and public access areas. The market for defibrillators is primarily driven by the increasing prevalence of cardiovascular diseases, which are the leading cause of death worldwide. Moreover, the expanding geriatric population and the rising demand for emergency medical services are also contributing to the growth of the market. Defibrillators are essential medical devices in emergency medical services and are widely used in hospitals and public access areas to improve patient outcomes.
Companies
Medtronic
Abbott
Boston Scientific Corporation
Stryker
Zoll Medical Corporation
Biotronik
Nihon Kohden Corporation
METRAWATT International
Datrend Systems
Fluke
BC Group International
Netech
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North America dominates the global defibrillator market due to the high prevalence of cardiovascular diseases, well-established healthcare infrastructure, and increasing investments in healthcare technology. The Asia-Pacific region is expected to witness the highest growth rate in the coming years due to the rising healthcare expenditure, increasing awareness about cardiovascular diseases, and growing demand for defibrillator devices. The market players are also targeting the emerging markets in the Asia-Pacific region to expand their customer base and increase their market share.
The defibrillator market is highly competitive, with a large number of players operating in the market. The key players in the market are focusing on product launches, partnerships, collaborations, and acquisitions to strengthen their position in the market. For instance, in 2021, Boston Scientific Corporation launched its next-generation defibrillator device, the EMBLEM MRI Subcutaneous Implantable Defibrillator (S-ICD) System, which provides magnetic resonance imaging (MRI) compatibility. In another instance, in 2019, Philips Healthcare acquired Boston Scientific's defibrillator business to expand its product portfolio and increase its market share.
Competitive Analysis
Defibrillator Market companies are constantly upgrading and increasing their product offerings. Innovation of next-generation external defibrillators, which are expected to increase safety and efficacy, is expected to generate profitable prospects for the market.
Some of the recent developments by key defibrillator providers are as follows:
In July 2020, Phillips gained FDA 510 (k) clearance in July 2020 for their professional defibrillator (Tempus LS- Manual), allowing them to market their remote monitor and defibrillator system (Tempus ALS) to EMS clients in the United States.
In June 2020, Asahi Kasei Corporation, ZOLL Medical has received premarket authorization due to its ZOLL AED defibrillator, which offers enhanced real-time CPR support, and integrated child safety, including wifi device.
In February 2020, Abbott has received CE Mark for its innovative Gallant implanted cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices. The gadgets provide new opportunities for patient contact and remote monitoring due to improved smartphone connectivity and accompanying apps. Other benefits include a patient-friendly design, longer battery life, and MRI compatibility.
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Market Segments Covered in Defibrillator Market Analysis
By Component
Implantable Cardioverter Defibrillators (ICD)
External Defibrillators (ED)
By Type
S-ICD
T-ICD
Manual ED
Automated ED
Wearable Cardioverter Defibrillators
By End Use
Hospital
Pre Hospital
Public Access Market
Alternate Care Market
Home Healthcare
By Region
North America
Latin America
Europe
APAC
MEA
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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