South and Central America Defibrillator Market Size and Competitive Analysis by 2028

The defibrillator market in South and Central America is expected to grow from US$ 759.68 million in 2021 to US$ 1,019.07 million by 2028; it is estimated to grow at a CAGR of 4.3% from 2021 to 2028.

Cardiovascular diseases (CVDs) are the leading cause of morbidity and mortality. Unhealthy lifestyles habits, including tobacco consumption, poor diet, obesity, physical inactivity, and excess alcohol consumption, are the leading causes of CVDs. The surging cases of CVDs result in high demand for defibrillators as an essential tool for resuscitation and care of CVD patients in hospitals. With a rise in national healthcare expenditures and disposable household incomes in various regions, the use of defibrillators is expected to increase further to manage CVDs better. Furthermore, amid such high demands for defibrillators as a vital instrument in hospitals, automated external defibrillators are gaining special traction owing to their suitability in the resuscitation of persons having a sudden cardiac arrest (SCA). Thus, the growing incidence of CVDs drives the demand for defibrillators of all types in hospitals, homes, and other healthcare settings, which is further anticipated to drive the market in South and Central America.

The COVID-19 outbreak has stringently affected medical services and medical tourism in the South and Central America. Brazil, Argentina, Uruguay, Chile, Peru, and Colombia are affected by another wave of the COVID-19 pandemic. Various governmental figures show Brazil with 622,251 reported casualties and a caseload of over ~23.5 million since the onset of the pandemic. Also, the country has reported 773,094 cases in a week ending on January 21, 2022, an 84% rise since the previous week. Similarly, Peru has reported an increase of 113% in COVID-19 cases, Chile with 108% increase, and Uruguay with a 37% increase in their weekly reported COVID-19 cases. This increase indicates toward another wave of SARS-CoV-2, which is expected to peak from January to March, 2022; it is anticipated to increase the demand for defibrillators in the region. In Brazil, only a few people suffering from cardiovascular disorders use defibrillators. A study by Card Wherry, et.al., titled “Cost-Effectiveness Analysis of Implantable Cardioverter Defibrillator (ICD) Therapy for Primary Prevention Patients with Additional Risk Factors in Brazil” evaluated the cost-effectiveness of implantable cardiac defibrillators and found ICD therapy was high compared to that of patients with no ICD therapy in terms of total discounted lifetime costs (US$ 18,623 & US$ 8,094 respectively) and quality-adjusted life-years (9.85 & 7.15 respectively). The study showed practical application and a cost-effective model for the application of ICDs for patients at risk. Various donations and relief efforts by organizations such as the International Organization for Migration donated defibrillators to the region. Various governmental efforts led to procuring defibrillators from several manufacturers to combat against the COVID-19 pandemic. The impact on the healthcare infrastructure and an increase in the demand for the product are expected to recover the market losses in the coming years.

South and Central America Defibrillator Market Revenue and Forecast to 2028 (US$ Million)

South and Central America Defibrillator Market Segmentation 

South and Central America Defibrillator Market – By Product

• Implantable Cardioverter Defibrillator
  • Transvenous ICD
  • Subcutaneous ICD
• External
  • Manual
  • Fully Automated External Defibrillators
  • Wearable

South and Central America Defibrillator Market – By End User

• Hospitals and Clinics
• Prehospital Care
• Public Access
• Alternate Care Facilities
• Home Care Settings

South and Central America Defibrillator Market– By Country

• Brazil
• Argentina
• Rest of South and Central America

South and Central America Defibrillator Market-Companies Mentioned

• Abbott
• Biotronik, Inc
• Boston Scientific Corporation
• Koninklijke Philips N.V.
• Medtronic
• Nihon Kohden Corporation
• Shenzhen Mindray Biomedical Electronics Co., Ltd
• ZOLL MEDICAL CORPORATION

South and Central America Defibrillator Report Scope