Defibrillators Market to Grow at 3.1% CAGR by 2030
Increased prevalence of heart diseases among all age groups and numerous reforms in the healthcare sector are prime factors facilitating the growth of the defibrillator market.
The Defibrillators Market is expected to grow at a CAGR of 3.1% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Defibrillators are life-saving medical devices used to deliver a therapeutic shock to the patient’s heart during life threating conditions such as cardiac arrhythmia, ventricular fibrillation and pulseless ventricular tachycardia. Heart related diseases and complications are among the top reasons for most of the deaths worldwide. Increasing cases of cardiac complications has created demand for cost effective and advanced devices. Additionally, poor life style choices among the population such as unhealthy eating habits, lack of activity, smoking, and prevalence of diabetes are also expected to propel the market growth. Further, recent reforms in the healthcare sector combined with the growing geriatric population are contributing to the market growth. However, high cost of devices and product recalls are factors restraining the market growth. According to the report, introduction of sophisticated and cost-effective defibrillator devices in conjunction with the increasing incidences of deaths and diseases caused by cardiac problems are major driving factors responsible for the market growth.
Based on product, the defibrillator market share is segmented into implantable defibrillator and external defibrillator. Implantable defibrillator is further sub segmented into Transvenous Implantable Cardioveter Defibrillator, Subcutaneous Implantable Cardioverter Defibrillator and CRD with pacemaker and ICD function. External defibrillator is sub segmented into manual external defibrillator, automated external defibrillator and wearable cardioverter defibrillator. Based on end user, the defibrillator market is segmented into hospitals, prehospitals, public access market, alternate care market and home.
At present, due to increased adoption of advance defibrillators to address the prevailing risk of targeted diseases such as diabetes, hypertension and others, the North America region possesses the lion share in the defibrillator market. The Asia Pacific region is expected to show exponential growth within the forecast period due to the increased demand for cost effective defibrillator devices to cater to the massive population base in this region.
Browse key industry insights from the report, “Defibrillators Market by Product (T-ICDs, S-ICDs, CRT-D, MED, AED, WCD) and End-User (Hospitals, Prehospital, Public Access, Alternate Care, Home) - Global Opportunity Analysis and Industry Forecasts, 2020 - 2030”.
According to the report, some the key players in the market are Asahi Kasei Corporation, Stryker Corporation, Biotronic SE and Co. KG, Boston Scientific Corporation, Philips healthcare, LivaNova PLC, Medtronic PLC, Jude Medical Inc., Cardiac Science Corporation, Nihon Konden Corporation and many more.
Key Insights from the Defibrillator Market Report:
- Current and emerging trends along with opportunities are extensively analysed in the defibrillator market report.
- The forecast of the defibrillator market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report defibrillator market – segmented by product type, end user and geography.
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