Defibrillator Devices And Equipment Market Competitive And Growth Analysis 2024 | Medtronic plc, Abbott Laboratories, Boston Scientific Corporation

"The defibrillator devices and equipment market size has grown strongly in recent years. It will grow from $10.9 billion in 2023 to $11.97 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to cardiac arrest prevalence, aging population, emergency medical services (ems) integration, public awareness and training.

The defibrillator devices and equipment market size is expected to see strong growth in the next few years. It will grow to $16.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to personalized medicine, telehealth integration, global access to healthcare, bystander intervention and public access defibrillation. Major trends in the forecast period include wearable defibrillators, next-generation aeds, subcutaneous icds (s-icds), pediatric defibrillation.

Market Overview -
Defibrillator devices and equipment are used in the emergency treatment of life-threatening cardiac arrhythmias and abnormal heart rhythms by giving a high-energy electrical shock to the heart through the chest wall to restore its normal rhythm function.

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Increasing Healthcare Expenditure Boosts The Defibrillator Devices And Equipment Market
Increasing healthcare expenditure is expected to propel the growth of the defibrillator devices and equipment market going forward. Healthcare expenditure refers to the amount of money spent on healthcare goods and services, including personal health care, public health activities, health research, and health insurance programs. Healthcare expenditure can help increase the adoption of defibrillator devices in hospitals, clinics, and public access defibrillation programs. For instance, according to the National Health Expenditure Account (NHEA), published by the Centers for Medicare and Medicaid Services, a US-based federal agency, U.S. healthcare spending grew 2.7% in 2021, reaching $4.3 trillion or $12,914 per person. Thus, enhanced healthcare infrastructure is driving the growth of the defibrillator devices and equipment market.

Competitive Landscape -
Major companies operating in the defibrillator devices and equipment market include Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Koninklijke Philips N.V, ZOLL Medical Corporation, Cardiac Science Corporation, Physio-Control Inc., Nihon Kohden Corporation, Defibtech LLC, Schiller AG, Biotronik Inc., LivaNova plc, HeartSine Technologies LLC, Mindray Medical International Limited, Metrax Engineering Ltd., CU Medical Systems Inc., Fukuda Denshi Co. Ltd., GE Healthcare, Innomed Technologies Inc., Progetti Srl, Stryker Corporation, Welch Allyn Inc., Weinmann Emergency Medical Technology GmbH + Co. KG, Bexen Cardio, GCE Group, Lepu Medical Technology (Beijing) Co. Ltd., Shenzhen XFT Medical Limited, Zhejiang Medtec Medical Devices Co. Ltd.

Avive Aed Redefines The Defibrillator Devices And Equipment Market
Major companies operating in the defibrillator devices and equipment market are developing innovative products such as Avive AED to improve survival rates. Avive AED is the lightest and smallest FDA-approved AED available, built for accessibility, portability, and durability. For instance, in January 2023, Avive Solutions Inc., a US-based portable defibrillator manufacturer received the U.S. Food and Drug Administration (FDA) pre-market approval (PMA) for an Automated External Defibrillator (AED). The Avive Connect AED is designed for easy placement in a variety of locations, optimized for maximum connectivity, and extensively tested for ease of use. The device combines cellular and WiFi connectivity, GPS technology, remote maintenance, and extreme portability in a handheld AED.

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Key Segments -
The defibrillator devices and equipment market covered in this report is segmented -
1) By Type: Implantable Defibrillators, External defibrillators
2) By Implantable Defibrillators: Transvenous Implantable Cardioverter Defibrillator (T-ICDs), Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs), Cardiac Resynchronization Therapy- Defibrillator (CRT-D), Single & Dual Chamber
3) By External defibrillators: Manual External Defibrillator (MEDs), Automated External Defibrillator (AEDs), Wearable Cardioverter Defibrillator (WCDs)
4) By End User: Hospitals, Pre-Hospitals, Public Access Market, Alternate Care Market, Home Healthcare

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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