Publication Month: Jan 2022 | Report Code: TIPRE00004564 | No. of Pages: 188 | Category: Medical Device | Status: Published
North America is likely to continue its dominance in the defibrillator market during 2021–2028. The US holds the largest share of the market in North America and is expected to continue this trend during the forecast period. According to the statistics released by the Centers for Disease Control and Prevention (CDC), around 659,000 deaths are recorded due to heart diseases in the US, which is 1 in every four deaths associated due to cardiovascular diseases. Additionally, the American Heart Association’s Heart and Stroke Statistics 2020 estimated 356,000 out-of-hospital cardiac arrests (OHCA) occurred in the US in 2019. Out of this, 90% of these OHCA cases were fatal. This trend of CVD and OHCA cases is expected to continue rising and increase the demand for automated external, public access, prehospital, and implantable defibrillators. Also, the increasing healthcare expenditure of the US is expected to aid the demand for defibrillators, therefore, driving the growth of defibrillators in the country and the region.
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With a large number of cases of cardiac arrests taking place outside hospitals, training and awareness programs related to cardiopulmonary resuscitation (CPR) and automated external defibrillators (AEDs) usage have increased. The survival rates of OHCA cases are statistically higher when a trained bystander or emergency medical service personnel attends to the patient. Organizations such as WHO, US FDA, regional and local health bodies provide online and offline training and awareness programs related to its usage and maintenance. Also, public access defibrillators have increased significantly for better treatment of OHCA. Various states in the US have enacted various regulations to encourage the usage of defibrillators, their availability in public spaces, set up of health registries of locations where AEDs are present for public access.
Based on product type, the defibrillator market is segmented into implantable cardioverter defibrillator (ICD) and external defibrillators. The ICD segment is further segmented into transvenous ICD and subcutaneous ICD, whereas the external defibrillator segment is further segmented into manual, fully automated external defibrillators, and wearable defibrillators. The ICD segment is expected to account for the largest share of the defibrillator market during 2021–2028. 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 fibrillation or persistent ventricular tachycardia. Next-generation ICDs can also function as a pacemaker. If the heart rate slows, the pacemaker feature can stimulate the heart to beat. There is an increased demand for ICDs for patients with non-ischemic cardiomyopathy, which has been shown to improve survival rates and reduce mortality risk, which is projected to provide opportunities for ICD manufacturers, propelling the market growth.
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Based on end user, the defibrillator market is segmented into hospitals and clinics, prehospital care, public access, home care settings, and alternate care facilities. The hospitals and clinics segment holds a considerable market share and is projected to continue its dominance during the forecast period. Hospitals and clinics are healthcare facilities that have the largest number of medical devices and equipment among all diagnostic and treatment facilities. Also, the largest share of healthcare expenditure goes towards hospitals and clinics, while private hospitals and clinics tend to have the most sophisticated and latest medical devices to ensure competitiveness. Also, hospitals and clinics are usually the primary healthcare facilities where ICD implantation is done, making it the most significant end user for defibrillators, both external and ICD.
Companies operating in the defibrillator market adopt the inorganic growth strategy to meet the evolving customer demands across the world, which involves acquisitions, mergers, and collaborations with local and international players in the global market.
Based on product type, the defibrillator market is segmented into implantable cardioverter defibrillator (ICD) and external defibrillators. The ICD segment is further segmented into transvenous ICD and subcutaneous ICD, while the external defibrillator segment is further segmented into manual, fully automated external defibrillators, and wearable defibrillators.
By end-user, the defibrillator market is segmented into hospitals and clinics, prehospital care, public access, home care settings, and alternate care facilities.
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