Global Defibrillator Market Report 2023: Rising Prevalence of Cardiovascular Diseases Drives Growth

DUBLIN, June 30, 2023 /PRNewswire/ -- The "Defibrillator Market by Product (Tranvenous ICD (Single & dual chamber, biventricular, CRT-D), Subcutaneous, External (Automated, Wearable)), Patient (Adult, Pediatric), Enduser (Hospitals, Prehospital, Home care, Public Access) - Global Forecast to 2028" report has been added to  ResearchAndMarkets.com's offering.

The global defibrillators market is expected to reach USD 18.1 billion by 2028 from USD 13.6 billion in 2023, at a CAGR of 5.9% during the forecast period.

The increase in the demand for defibrillators market is driven by the increasing population proportion with cardiovascular diseases, technological advancements in defibrillators, and rising initiatives by public & private organizations to provide free training & programs and enhance the implementation of public access defibrillators (PADs). However, issues related to implantable and automated external defibrillators and frequent product recalls impeded market growth.

Implantable Cardioverter Defibrillator segment accounted for the largest share of the global defibrillator market in 2022

Based on product, the defibrillators market is broadly segmented into implantable cardioverter defibrillators (ICDs) and external defibrillators. ICDs are further divided into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators, whereas external defibrillators are divided into manual AED, fully automated AED, and wearable defibrillator.

The ICDs segment accounted for the largest global defibrillators market share in 2022. The technological advancements in implantable defibrillators, rising awareness among cardiologists about the benefits pertaining to subcutaneous ICDs, and the launch of technologically advanced ICDs.

Adult patients segment dominated the defibrillator market based on patients type in 2022

The defibrillator market is segmented into adult and pediatric patients based on patient type. The adult patients segment dominated the global defibrillators in 2022. The increasing incidence of cardiovascular disease in the adult population, rapid growth in the geriatric population highly susceptible to sudden cardiac arrest, and the increasing number of implantation of ICDs in adult patients are likely to fuel the growth of the segment.

North America accounted for the highest market share in the defibrillators market during the forecast period

Based on the region, the global defibrillators market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to witness a high market share during the forecast period. This can be attributed to the factors such as the rising adoption of advanced defibrillators, increasing efforts by governments to provide the necessary care to cardiac arrest patients, the strong foothold of market players, favorable reimbursement programs, and an increase in the incidence of coronary artery diseases.

Premium Insights

• Rising Incidence of Cvd to Drive Market
• Implantable Defibrillators to Dominate Market During Forecast Period
• Hospitals, Clinics, and Cardiac Centers Segment in Asia-Pacific Region Accounted for Largest Share in 2022
• China to Witness Highest CAGR During Forecast Period

Market Dynamics

Drivers

• Rising Prevalence of Cardiovascular Diseases
• Growing Focus on Providing Public-Access Defibrillators
• Training and Awareness Programs on Defibrillators

Restraints

• Frequent Product Recalls

Opportunities

• Emerging Markets
• Development of S-Icds and MRI-Compatible Icds & Crt-Ds

Challenges

• Inadequate Awareness of Sudden Cardiac Arrests in Emerging Markets
• Challenges Associated with Pricing Pressure

Companies Mentioned

• Abbott
• Allied Medical Ltd.
• Ami Italia
• Asahi Kasei Corporation
• Avive Solutions Inc.
• Axion Concern LLC
• Bexen Cardio
• Biotronik
• Boston Scientific Corporation
• Bpl Medical Technologies
• Corpuls
• Cu Medical Systems Co. Ltd.
• Koninklijke Philips N.V.
• Mediana Co. Ltd.
• Medtronic
• Metrax GmbH
• Metsis Medikal Ltd.
• Microport Scientific Corporation
• Ms Westfalia GmbH
• Nihon Kohden Corporation
• Progetti Srl
• Schiller AG
• Shenzhen Comen Medical Instruments Ltd.
• Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
• Stryker

For more information about this report visit https://www.researchandmarkets.com/r/oub9zf

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