Defibrillator Market is expected to reach US$ 14,876.95 Million by 2028


PRESS RELEASE BY The Insight Partners 31 Jan 2022

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Implantable Cardioverter Defibrillator Segment to Lead Defibrillator Market During 2021–2028

 

According to our latest study, titled "Defibrillator Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product type and End user," the market is projected to reach US$ 14,876.95 million by 2028 from US$ 10,478.31 million in 2021. It is estimated to grow at a CAGR of 5.1% from 2021 to 2028. The report highlights the key factors influencing the market growth and prominent players and their strategies.

 

Several factors, such as the increasing prevalence of cardiovascular disorders along with surge in training and awareness programs on cardiopulmonary resuscitation and automated external defibrillators. However, cost and performance issues related to implantable and automated external defibrillators is expected to hamper market growth. Cardiovascular diseases (CVDs) are the leading cause of morbidity and mortality globally. The World Health Organization (WHO) estimates 17.9 million lives are lost due to CVDs, i.e., 32% of all deaths are reported globally every year. Four out of five CVD-related mortalities are due to heart attacks and strokes. Unhealthy lifestyles habits, including tobacco consumption, poor diet, obesity, physical inactivity, and excess alcohol consumption, are the leading causes of CVDs.

 

Based on the product type, the defibrillator market is segmented into, Implantable cardioverter defibrillator, and External. The implantable cardioverter defibrillator segment is sub segmented into, transverse ICD and subcutaneous ICD. Moreover, the external segmented is further sub segmented as, Fully Automated External Defibrillators, manual, wearable. The Implantable cardioverter defibrillator segment is expected to hold the largest share of 68.80% of the defibrillator market in 2021. An implantable cardioverter-defibrillator (ICD) is a small battery-powered device that detects and stops irregular heartbeats (arrhythmias) in the chest.  An ICD continuously monitors the heartbeat and, if necessary, administers electric shocks to restore normal heart rhythm. ICDs are used to avoid sudden death in patients undergoing from fibrillation or persistent ventricular tachycardia. ICDs can help avert cardiac arrest in patients who are at high risk of life-threatening arrhythmias.

 

Based on the End user, the defibrillator market has been segmented into, Hospitals and Clinics, Prehospital Care, Public Access, Home Care Settings, and Alternate Care Facilities. The Hospitals and Clinics segment is likely to account for a larger market share in 2021. However, the prehospital care segment is expected to register a higher CAGR in the market during the forecast period. Emergency medical services (EMS) responders, who are the first health care providers on the site of a crisis, provide prehospital care. EMS workers are often the first to realize the nature of a crisis and are able to assess the situation and establish the need for resources, particularly medical resources immediately. These licensed/certified personnel may be the first to use crisis standards of care (CSC), and they are key participants in local and state efforts to develop and implement coordinated and integrated CSC plans. Thus, systems that deploy First Responders (FRs) have been developed all over the world to boost the likelihood of prompt cardiopulmonary resuscitation (CPR) and rapid defibrillation with an AED during the emergency cases such as stroke, cardiac arrest, and others.

 

Medtronic, Abbott, Boston Scientific Corp., Zoll Medical Corp., KONINKLIJKE PHILIPS N.V., Biotronic, Inc., Progetti srl, Shenzhen Mindray Biomedical Electronics Co., Ltd., Nihon Kohden Corp are the leading companies operating in the defibrillator market.

 

Defibrillator Market, by Region, 2021 (%)

Defibrillator Market, by Region, 2021 (%)

Defibrillator Market Size, Share | Global Report 2028

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Published Report - Defibrillator Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Implantable Cardioverter Defibrillator (Transvenous ICD and Subcutaneous ICD) and External (Manual, Fully Automated External Defibrillators, and Wearable), End User (Hospitals and Clinics, Prehospital Care, Public Access, Alternate Care Facilities, and Home Care Settings), and Geography

The Defibrillator Market Has Been Segmented as Follows:

The defibrillator market is analyzed on the basis of the product type and end user. Based on the product type, the defibrillator market is segmented into Implantable cardioverter defibrillator, and External. The implantable cardioverter defibrillator segment is sub segmented into, transverse ICD and subcutaneous ICD. Moreover, the external segment is further sub segmented as, Fully Automated External Defibrillators, manual, wearable. Based on the end user, the defibrillator market has been segmented into Hospitals and Clinics, Prehospital Care, Public Access, Home Care Settings, and Alternate Care Facilities

 

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