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Pune, June 22, 2022 (GLOBE NEWSWIRE) -- The Global Defibrillators Market is expected to clock US$ ~14.85 billion by 2031 owing to a growing number of cardiac diseases, a rising number of defibrillator implant procedures, and new product launches. According to a report published by Growth Plus Reports, titled“ Defibrillators Market by Type (Implantable Cardioverter Defibrillator and External Defibrillator), End User (Hospitals & Clinics, Pre-hospitals, Public Access Market, Home Care Settings, and Alternate Care Market)–Global Outlook & Forecast 2021-2031 ” the market was worth in ~US$ 9.95 billion in 2020 and will display a CAGR of 4.8% during the forecast period, 2021-2031.
Players in the market are focusing on technological advancements and launching advanced products in the market. Private organizations are supporting technological advancements by offering to fund the potential developments.
For instance, in June 2020, Avive Solutions, Inc., a developer of a next-generation Automated External Defibrillator (AED) for hospitals received an additional US$ 7 million in funding from Laerdal Million Lives Fund. Such funding is anticipated to propel the growth of the defibrillators market during the forecast period.
The global defibrillators market has been analyzed from three perspectives: Type, End-User, and Region.
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Excerpts from 'By Type Segmentation'
Based on the type, the defibrillators market has been segmented into: -
- Implantable cardioverter-defibrillator
- External defibrillators
The implantable cardioverter-defibrillator segment is further sub-segmented into transvenous implantable cardioverter defibrillators (single-chamber Icds, dual-chamber Icds, cardiac resynchronization therapy defibrillators) and subcutaneous implantable cardioverter defibrillators.
The external defibrillator segment is further bifurcated into automated ED, manual ED, and wearable cardioverter-defibrillators. The implantable cardioverter-defibrillator segment held the largest market share of the defibrillators market in 2020. Technological advancements in the CRT-D devices, new product launches, a rising number of implant procedures, and rising awareness of using defibrillators are some of the factors boosting segmental growth.
Excerpts from 'By Region Segmentation'
Regionally, the global defibrillators market has been segmented into:-
- North America
- Asia Pacific
- The Rest of the World (RoW).
North America held the largest market share of the global defibrillators market in 2020. The major factors contributing to the growth of the defibrillators market in this region include the rising geriatric population coupled with the growing prevalence of cardiac diseases. Moreover, factors such as technological advancements and the growing launch of FDA-approved products are also anticipated to fuel the market growth during the forecast period.
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Excerpts from 'Competitive Landscape'
The prominent players operating in the global defibrillators market include:
- Koninklijke Philips N.V
- Boston Scientific Corporation
- CU Medical Germany GmbH
- Zoll Medical Corporation
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd
- Among others
Prominent players in the defibrillation market are focusing on developing technologically advanced devices as well as receiving clearance from the regulatory authorities. For instance, in July 2020, Abbott received FDA approval for Gallant defibrillator devices. These are Bluetooth-enabled defibrillators for use in patients with heart rhythm disorder. Further, in April 2019, Stryker launched its newest defibrillation solution, the LIFEPAK CR2 defibrillator with LIFELINK central AED program manager in the U.S. Launch of technologically advanced products will help to increase the adoption of defibrillators and in turn, propel the growth of the market.
Table of Contents INTRODUCTION Market Ecosystem Geographic Scope Timeline Under Consideration Historical Years – 2018 & 2019 Base Year – 2020 Forecasted Years – 2021 to 2031 Currency Used in the Report RESEARCH METHODOLOGY Research Approach Data Collection Methodology Data Sources Secondary Sources Primary Sources Market Estimation Approach Bottom Up Top Down Market Forecasting Model Limitations and Assumptions PREMIUM INSIGHTS Current Market Trend (COVID-19 Perspective) Key Players & Their Competitive Positioning (2020) MARKET DYNAMICS Drivers Restraints/Challenges Opportunities GLOBAL DEFIBRILLATORS MARKET – ANALYSIS & FORECAST, BY TYPE Implantable Cardioverter Defibrillators Transvenous Implantable Cardioverter Defibrillators Single-Chamber ICDs Dual-Chamber ICDs Cardiac Resynchronization Therapy Defibrillators Subcutaneous Implantable Cardioverter Defibrillators External Defibrillators Automated ED Manual ED Wearable Cardioverter Defibrillators
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- Distributor Landscape Assessment
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- Investment & Initiatives Analysis
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