Global Defibrillators Market anticipates high growth owing to the rising prevalence of Cardiovascular Diseases
Defibrillators are a medical device, widely used to determine cardiac related disorders such as ventricular tachycardia, cardiac arrhythmias, and ventricular fibrillation. They cure various cardio-related disorders by delivering a therapeutic dosage of electrical energy to the targeted area of the heart. The new report on global defibrillators market available on DecisionDatabases.com incorporates the value chain analysis, market trends, and drivers along with the estimated growth values from 2015 to 2022.
The rising prevalence of cardiovascular diseases, rapid technological advancements in the field of medical devices and growing patient awareness are major growth drivers, which are anticipated to fuel market demand over the forecast period as per the study “Global Defibrillators Market Research Report - Industry Analysis, Size, Share, Growth, Trends And Forecast”. In addition, increasing geriatric population base and improving healthcare facilities will further aid in the growth of the market in the near future. Over the past few years, the rapid rise in the mortality rate due to sudden cardiac arrest incidences has led to a momentous demand for defibrillators for future application. Increasing focus of private & public organizations and major players to spread awareness & availability of these devices is expected to have a positive impact on the market penetration of the product. Increasing stress level, changing lifestyle, the rise in pollution level and rising healthcare initiatives in order to spread awareness about health & another lifestyle disease will boost market demand in the study period. However, a high expense of the defibrillator devices and lack of proper insurance coverage are key challenges, which may negatively impact the growth of the market in the forthcoming years.
The global market has been segmented based on product into implantable cardioverter defibrillator (ICDs) and the external defibrillator. The ICD is a leading product segment and is projected to witness a double-digit growth over the forecast period on account of growing demand for single and dual chamber ICDs for various applications across the globe. The market has been further segmented based on end-user into hospitals, pre-hospitals, public access markets, alternate care markets and home healthcare. The hospital segment has accounted for major market share and is estimated to continue its dominance in the study period due to rising chronic condition and increasing incidences of SCA (sudden cardiac arrest) involving professional and skilled medical management.
North America is a major market and is projected to continue its dominance during the forecast period owing to the rising adoption of technologically advanced products, increasing occurrence of cardiovascular diseases and the availability of advanced healthcare facilities in the region. Asia Pacific is a fastest growing market and is expected to grow at the highest CAGR during the study period on account of rising medical tourism, growing geriatric population, development in the healthcare infrastructure and rising entrance of major players in the region.
The key players include Medtronic Inc., St. Jude Medical Inc., Boston Scientific Corporation, BIOTRONIC SE & Co. KG, Sorin Group, Koninklijke Philips N.V., ZOLL Medical Corporation, Cardiac Science Corporation, Physio-Control Inc., Nihon Kohden corporation, HeartSine Technologies, Defibtech LLC, GE Healthcare, Welch Allyn, Philips Healthcare, Metrax, Progetti S.R.I, Schiller AG, Fukuda Denshi USA Inc. and Access Cardio Systems.
In Feb 2015, Boston Scientific Corporation has launched World's Longest Lasting ICD including DYNAGEN™ EL and INOGEN™ EL device models.
In April 2016, A Defibrillator campaign has launched to fund a lifesaving public access defibrillator at Hale Village Hall
In June 2016, Newcastle United Foundation has initiated a campaign by launching a lifesaving defibrillators to put defibrillators (AED's) into grassroots football clubs to prevent deaths from SCA (sudden cardiac arrest).
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