The latest report by Renub Researh, titled â€œDefibrillators Market Size, Share, Global Forecast 2021-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysisâ€ the Global Defibrillators Market Size was valued at US$ 12.87 Billion in 2021. The World Health Organization states that cardiovascular deaths are the most common cause of all registered deaths worldwide. In addition, economic development rates and industrialization have significantly added to the number of deaths due to sudden cardiac arrest. Further, sudden cardiac arrests are accompanied by immediate resuscitation, a combination of chest compressions, and assisted ventilation. Hence, defibrillation is an effective treatment option accepted globally to treat cardiac arrest due to ventricular fibrillation. A defibrillator incorporates the concept of defibrillation, which is an electronic device, which is prominently used to treat arrhythmia and sudden cardiac arrest.
Worldwide Defibrillators Industry will grow at a CAGR of 5.76% during 2021-2027
SCA is a sudden and unanticipated pulseless situation caused by the cessation of cardiac mechanical activity. SCA is a foremost cause of death among adults, usually above the age of 40. SCA is one of the prominent driving factors for evolving the defibrillators industry. Moreover, the rising incidence of atherosclerosis, diabetes, strokes, hypertension, and others due to lifestyle habits such as unhealthy dietary habits, lack of physical activity, and smoking, among others, is the ultimate cause of CHF. Moreover, the rising geriatric population base is anticipated to fuel CHF prevalence, increasing defibrillator market growth.
External Defibrillator Is Expected to Grow at A Great Pace During The Forecast Period:
By Product type, we have categorized the global defibrillator market into the Implantable Cardioverter Defibrillator and External Defibrillator market. The demand for External Defibrillator will grow significantly during the forecast period. External defibrillators are life-saving devices that deliver a defibrillating shock to diagnose and restore heart rhythms in an unexpected cardiac arrest. Apart from that, the market of Implantable Cardioverter Defibrillator will also flourish during 2021-2027.
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AED Is the Most Preferred External Defibrillation System:
External defibrillators are life-saving medical devices used to deliver defibrillating shock through paddles or electrode pads to diagnose and restore life-threatening abnormal heart rhythms in the conditions of unexpected cardiac arrest. These devices can perform cardioversion, defibrillation, and pacing of the heart. External defibrillators are of three major types: manual external defibrillators, AEDs and WCDs. AEDs are used in most cases among SCA patients due to abundant opportunities observed and ease in use, thereby bagging a significant market share in the global defibrillators market.
The North American Region Hold Considerable Share:
We have studied the regional realms of the global defibrillators industry in North America, Latin America, Europe, Asia Pacific and the Middle East and Africa region. Higher Adoption of Defibrillator Installations and Implants Enables Market to Hold Considerable Share in North America. North America is envisioned to dominate the market throughout the forecast period. Growing installations of external defibrillators in hospitals and public places such as schools, hotels, streets, railway stations, and others to prevent fatalities from sudden cardiac arrest are prominently responsible for holding a higher defibrillator market share in North America.
Moreover, the incremental shift of preference towards subcutaneous ICD due to growing patient awareness is projected to augment the growth of ICD in North America. Europe is anticipated to be the second most prominent region in terms of market share by 2027. In addition, the market is rising at a faster pace in emerging countries of the Asia Pacific region, owing to increasing adoption and rapidly developing healthcare infrastructure.
Key Market Players:
Medtronic, Boston Scientific Corporation, Philips Healthcare, Nihon Kohden Corporation, and Asahi Kasei Corporation are amongst a leading player in the defibrillator market owing to their diverse product offering in the implantable defibrillator segment, efficient customer reach, and vital after-sales service. Our report also covers operate in the defibrillator industry.
For instance, in April 2020 â€“ Philips, a health technology company, announced that it’s Emergency Care and Resuscitation (ECR) business is recommencing the manufacturing and shipping of external defibrillators for the US. The company declared that the US Food and Drug Administration (FDA) had lifted the limitations imposed on the manufacturing and allocation of defibrillators in the US.
COVID-19 Impact on Global Defibrillators Market:
All over the world, COVID-19 is known to affect the cardiovascular system, resulting in myocardial injury, arrhythmias, intravascular thrombosis, and sudden cardiac death. Further, initial reports have also recommended a temporary association between COVID-19 activity and cardiac arrests in the community and in hospital settings. Remarkably, life-threatening arrhythmias have been variably reported among patients hospitalized for COVID-19 infection. Sudden cardiac arrest (SCA) in COVID-19 patients is an alarming concern for clinicians. Hence, defibrillator shock episodes have risen during the higher COVID-19 activity boosting the market for Global Defibrillators Market.
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Product Type: We have covered Implantable Cardioverter Defibrillator and External Defibrillator.
Implantable Cardioverter Defibrillator: We have studied Transvenous Implantable Cardioverter Defibrillators (T-ICDs), Subcutaneous Implantable Cardioverter Defibrillators (S-ICDs) and others in our report.
Transvenous Implantable Cardioverter Defibrillators: We have covered Single-Chamber Implantable Cardioverter Defibrillators, Dual-Chamber Implantable Cardioverter Defibrillators, Biventricular Implantable Cardioverter Defibrillators /Cardiac Resynchronization Therapy Defibrillators (CRT-Ds)
External Defibrillator: In our report we have studied Automated External Defibrillators, Advanced Life Support Defibrillators, Wearable Cardioverter Defibrillators
End Users: Hospital, Prehospital, Public Access Market, Alternate Care Market, Home Healthcare are the end users in the market.
Regions: We have studied the regional realms such as North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Company: The key players studied in our report include Medtronic Plc, Boston Scientific Corporation, Philips Healthcare, Nihon Kohden Corporation, Asahi Kasei Corporation.
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