“The Global Defibrillator Market was valued around US$ 10.5 Bn by 2018 and growing at a significant CAGR of 8.3% over next seven years 2019-2025 due to growing occurrence of cardiovascular diseases”
The global defibrillator market accounted for US$ 10.5 Bn in 2018 and burgeoning over the forthcoming years. Growing demand for quality medical care, increasing demand for handling cardiovascular conditions, and surge in acceptance of technologically enhanced defibrillators, huge funds by private players and technological improvements in defibrillator are the major factors fostering the market growth. In addition, growing occurrence of cardiovascular diseases due to lifestyle changes is the other important factor responsible for market growth. However, factors such as issues related to the use defibrillators, lack of awareness regarding sudden cardiac arrest and regular product recalls are restricting the market growth.
Global defibrillator market segmented on the basis of product type, end user and region.
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Implantable Cardioverter Defibrillators dominate the Global Defibrillator Market
Based on product type, global defibrillator market is segmented into implantable cardioverter defibrillators and external defibrillator. Implantable Cardioverter Defibrillators held considerable market growth during estimated period. An implantable cardioverter-defibrillator (ICD) is a device that detects any life- threatening, rapid heartbeat. The device continuously monitors heartbeat and delivers electrical pulses to restore a normal heart rhythm when necessary. ICDs have been very useful in preventing sudden death in patients with known, sustained ventricular tachycardia or fibrillation. Newer-generation ICDs may have a dual function which includes the ability to serve as a pacemaker. The pacemaker feature would stimulate the heart to beat if the heart rate is detected to be too slow.
North America Leads the Global Defibrillator market
PBI’s global defibrillator market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. North America accounted for larger revenue share in global defibrillator market with considerable CAGR. The growth in this region can be attributed to supportive government policies, rising incidence of target diseases, increasing number of public defibrillation programs and positive reimbursement schemes. Further, Asia Pacific held significant market share during estimated period owing to growing demand for highly developed defibrillators and high prevalence of heart failures. Also, there is a huge growth opportunity for the market in the region with India and China being the most populous countries.
Strategic Acquisitions are the Key Strategies Adopted by Market Players
Global defibrillator market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, in April 2016, Abbott acquired of St. Jude Medical. This was aimed at strengthening the presence of Abbott in the cardiovascular segment.
Key player’s profiles in the report are Medtronic (U.S.), Abbott Laboratories (U.S.), Asahi Kasei Corporation (ZOLL Medical Corporation) (Japan), LivaNova PLC (U.K), Physio-Control, Inc. (U.S.), Nihon Kohden Corporation (Japan), BIOTRONIK SE & Co. KG (Germany), Koninklijke Philips N.V. (Netherlands) and Boston Scientific Corporation(U.S.)
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Precision Business Insights (PBI) in its report titled “Global Defibrillator Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
By Product Type
- Implantable Cardioverter Defibrillators
- Single Chamber Implantable Cardioverter Defibrillator
- Dual Chamber Implantable Cardioverter Defibrillator
- External Defibrillator
By End User
- Cardiac Clinics
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
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