Defibrillators Market: Increasing Incidence of Cardiovascular Diseases & Aging of Baby Boomers are the Key Factors Supporting Market Growth

The report is titled “Defibrillators Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”.Studies state that sudden cardiac arrest leads to more than 300,000 deaths per year in U.S. alone and is also a major cause of deaths across the globe. Defibrillators are used for treating sudden cardiac arrest caused due to pulseless ventricular tachycardia, ventricular fibrillation, and cardiac arrhythmias. The report segments the global defibrillators market based on three major criteria: product type, key end-use segments and key regional markets.

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A new research report on the global defibrillators market published by Transparency Market Research states that the market will grow at a modest pace over the report’s forecast period. The market, which was valued at US$9.3 billion in 2012, is projected to grow at an excellent 6.2% CAGR between 2013 and 2019 and reach US$14.2 billion by 2019. The key factors driving the market’s growth are the rising global incidence of cardiovascular diseases and disorders, ageing population of baby boomers in the U.S., growing preference for installation of automated external defibrillators (AEDs) at workplaces by many businesses, and rising demand from emerging economies of Asia Pacific and the Middle East.

Based on the type of defibrillator, the report further segments the market into automated external defibrillators (AEDs), advanced life support (ALS) defibrillators, wearable defibrillators, and implantable cardioverter defibrillators (ICDs). Amongst these product types, the segment of implantable defibrillator devices acquired the largest share of revenue in the overall defibrillators market in 2012, followed by the segment of advanced life support defibrillators.

The rise in ICD implantations across the globe as a precautionary measure towards the prevention of sudden cardiac arrests is a leading factor backing the high global demand for ICDs. According to the various end-use segments of defibrillator devices, the market is segmented into public or community access, homes, business workplaces, hospitals, and emergency medical services. Over the report’s review period, the segment of hospitals led to more than 90% revenue of the market. The number of AED installations at large hospitals and at business workplaces is also projected to rise over the report’s forecast period, leading to a substantial boost to the overall market in the near future.

Among the key regional markets studied by the report, the market in North America accounted for the largest share of the overall market during the review period. Over the report’s forecast period, however, this market segment is projected to grow at a slower CAGR of 5.7%. The global market is expected to achieve a boost from the Asia Pacific and Middle East regions.

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The competitive landscape of the global defibrillators market is consolidated and features a very small number of large players. Some of the key businesses operating in the market include Boston Scientific Corporation, Medtronic, Inc., Biotronik SE& Co.KG, HeartSine Technologies Inc., Defibtech LLC, Philips Healthcare, GE Healthcare Ltd., Nihon Kohden Corporation, Zoll Medical Corporation, and St. Jude Medical Inc.

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