Defibrillators Market Size Worth 15.5 billion USD Globally grow with a CAGR of 5.3%

Author : univdatos
Publish Date : 2021-06-09 16:45:42
Defibrillators Market Size Worth 15.5 billion USD Globally grow with a CAGR of 5.3%

As per the research report, Global Defibrillators Market is expected to reach the market valuation of US$ 15.5 billion by 2027 expanding at a reasonable CAGR of 5.3% during the forecast period (2021-2027) from US$ 10 billion in 2019. The global defibrillators market is witnessing an uptick on account of supportive legislation policies by the government of developed countries as the government in countries such as the U. S, and U. K. has mandated the installation of defibrillators at public places such as schools, government facilities, and institutes. Approximately 80% of put of hospital cardiac arrests occur at home and around 20% will occur in public places in the United Kingdom.

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Moreover, a rise in the incidences of sudden cardiac arrest owing to the disease such as Ischemic heart disease, Dilated cardiomyopathy, Hypertrophic cardiomyopathy, Arrhythmia, Congenital heart disease, and Myocarditis is generating the demand for defibrillators. Approximately 30,000 Hospital Cardiac Arrests occur every year in the UK. Also, with growing end-user’ awareness about the treatment and use of defibrillators globally, the demand has witnessed a rise. In a study, it was found that Without immediate treatment, 90-95% of Sudden Cardiac Arrest victims will die

Moreover, a sedentary lifestyle and rising aging population who are more prone to the disease is one of the leading causes of the proliferating incidences of sudden cardiac arrest. As per the American Heart Association, every 25 seconds an American will have a coronary event. Also, 56% of the adults in the United States have been told by the healthcare professional to improve their health and 99% of the Americans need to improve heart health.

The government across countries are investing more in healthcare, which is resulting in improved healthcare infrastructure, deployment of necessary medical equipment at public places et. As per OCED, the government in the United States spend USD 8,032.6 USD per capita in 2015 that increased to USD 9,386.5 USD per capita in 2019 same way in the U.K the government spent 3,043.6 USD per capita in 2015 that increased to USD 3,619.5 USD per capita in 2019.

Also, the companies across countries are taking several initiatives to quickly deliver the defibrillator. A transport agency in Sweden is running a program under the test phase, which would deliver AEDs using a drone.

The global defibrillator market is highly fragmented. The availability of numerous global and local players across regions makes the industry highly competitive. The key players with a considerable market share in the industry are Koninklijke Philips N.V., Nihon Kohden Corporation, Progetti Srl, Schiller AG, ST. Jude Medical (acquired by Abbott Laboratories), Zoll Medical Corporation, Cardiac Science, Boston Scientific Corporation, Physio-Control, and Medtronic. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

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Insights Presented in the Report

“Amongst product type, implantable cardioverter defibrillators segment holds the major share”

Based on product type, the market is fragmented into implantable cardioverter defibrillators and external defibrillators. The implantable cardioverter defibrillators segment dominated the market with a share of 67.2% in 2019 and is expected to maintain its dominance during the forecast period on account of the increased consumer awareness about the need for defibrillators and the launch of newer-generation ICDs.

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“Amongst implantable cardioverter defibrillators type, transvenous implantable cardioverter defibrillators is expected to dominate the market during the analyzed period”

Based on the market segment by implantable cardioverter defibrillators type, the market is segmented into Subcutaneous Implantable Cardioverter Defibrillators and Transvenous Implantable Cardioverter Defibrillators. In 2019, Transvenous Implantable Cardioverter Defibrillators grabbed the major market share and accounted for 83.8% of the market revenue share. Surging incidences of SCA and the prevalence of CVDs resulting in the demand for the growing market of Transvenous Implantable Cardioverter Defibrillators market. Moreover, the Subcutaneous Implantable Cardioverter Defibrillators segment is expected to grow with a CAGR of more than 2% during the forecast period of 2021-27.

“North America represents one of the largest markets of the defibrillator market”

For a better understanding of the market dynamics of the defibrillator market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC) and Rest of the World has been conducted. North America dominated the market and generated revenue of US$ 3.8 billion in 2019 owing to the escalating healthcare IT investment in the countries such as the U.S and Canada. Moreover, the presence of well-established players and the latest technology upgraded products and services make the region dominant across the globe.

Customization Options:

The Defibrillator Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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