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Defibrillators Market Top Growing Segments and Future Development

(Medical-NewsWire.com, October 20, 2021 ) 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.

On the basis of type, the 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 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.

On the basis of end users, the 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 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.

A few major players that have an extensive geographic presence dominate the OTC Braces and supports industry globally. The leading players in the OTC Braces and supports market include 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) among others.

The major strategies adopted by these players include new product launches, collaborations & agreements, mergers, investments & expansions. New product launches was the most commonly adopted strategy from January 2017 to January 2020.

In 2018, Medtronic (Ireland) held the leading position in the global ICDs market. The company has a broad product portfolio, a strong geographical presence, and a wide customer base in emerging economies, including Brazil, Russia, India, and China. To maintain its leading position in the market, the company has been focusing on technological advancements in implantable defibrillators. In line with this strategy, in the last three years, the company launched Visia AF MRI SureScan CRT-D, Visia AF single-chamber ICDs, Claria MRI Quad CRT-D SureScan, Amplia MRI Quad CRT-D SureScan, Compia MRI Quad CRT-D SureScan, and Evera MRI SureScan ICD. To leverage the growth opportunities in the emerging markets, the company set up its headquarters in Singapore.

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In 2019, North America accounted for the largest share of the market. The rising geriatric population, increasing incidence of cardiac diseases, and technological advancements are the major factors driving the growth of the 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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Source: EmailWire.Com

Source: EmailWire.com


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