Defibrillators Market worth $11.7 billion by 2025
According to the new market research report Defibrillators Market
is projected to reach USD 11.7 billion by 2025 from USD 9.6 billion in
2019, growing at a CAGR of 3.4% during the forecast period.
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The
growth in this market is driven by the rising prevalence of target
diseases, growing focus on providing public-access defibrillators, and
training and awareness programs on defibrillators. In addition, emerging
markets and the development of S-ICDs and MRI-compatible ICDs and
CRT-Ds are expected to offer growth opportunities for players in the
defibrillators market. However, issues related to the use of implantable
and automated external defibrillators, frequent product recalls, and a
lack of awareness about sudden cardiac arrest in developing nations are
expected to hinder the growth of the defibrillators market during the
forecast period.
The ICDs segment accounted for the largest share of the defibrillators market in 2019
On
the basis of type, the defibrillators market is segmented into
implantable cardioverter defibrillators (ICDs) and external
defibrillators. The ICDs market is further segmented into transvenous
implantable cardioverter defibrillators (T-ICDs) and subcutaneous
implantable cardioverter defibrillators (S-ICDs). The T-ICDs segment is
further categorized as single-chamber ICDs, dual-chamber ICDs, and
cardiac resynchronization therapy defibrillators (CRT-Ds). The external
defibrillators market is further segmented into manual and
semi-automated external defibrillators, fully automated external
defibrillators, and wearable cardioverter defibrillators (WCDs).
The
ICDs segment accounted for the largest share of the defibrillators
market in 2019. Factors such as the development of technologically
advanced devices with extended longevity, rapid growth in the number of
implant procedures, and increasing adoption of cardiac resynchronization
therapy defibrillators (CRT-Ds) and S-ICD systems across the globe are
contributing to the large share of this segment.
The hospitals, clinics, and cardiac centers segment accounted for the largest share of the global defibrillators market in 2019
On
the basis of end users, the defibrillators market is segmented into
hospitals, clinics, and cardiac centers; prehospital care settings;
public access markets; alternate care facilities; and home care
settings. The hospitals, clinics, and cardiac centers segment accounted
for the largest share of the global defibrillators market in 2019. The
growing number of cardiac implant procedures and the availability of
reimbursements across developed markets are the major factors driving
the growth of this end-user segment.
In 2019, North America accounted for the largest share of the defibrillators market
In
2019, North America accounted for the largest share of the
defibrillators market. The rising geriatric population, increasing
incidence of cardiac diseases, and technological advancements are the
major factors driving the growth of the defibrillators market in North
America. Increasing efforts by governments to provide the necessary care
to cardiac arrest victims at public places through public-access
defibrillation programs have also increased the demand for
defibrillators in the region.
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Prominent
players in the defibrillators market include Medtronic (Ireland), St.
Jude Medical (US), Boston Scientific (US), Koninklijke Philips N.V.
(Netherlands), ZOLL Medical (US), BIOTRONIK (Germany), Physio-Control
(US), Nihon Kohden (Japan), SCHILLER AG (Switzerland), Mindray Medical
(China), Mediana (South Korea), and METsis Medikal (Turkey).
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