Market Definition
The defibrillators market was valued at USD 11.8 billion in 2021 and it is anticipated to reach up to USD 29.3 billion in 2031 at a CAGR of 9.5% during the forecast period.
Defibrillation is a technique that is considered as a definitive treatment for cardiac arrests and arrhythmias. Defibrillators are devices that are used to defibrillate or stabilize the heartbeat of a patient in a condition of arrhythmias and ventricular tachycardia. The major function of defibrillation in ventricular arrhythmias is to apply a controlled electrical shock to the heart, which results in the depolarization of the electrical conduction system of the heart. After the heart is polarized the normal electrical conduction is attained, thus terminating the ventricular arrhythmia.
To Know More: https://www.globalinsightservices.com/reports/defibrillator-market/
Market Outlook
The key factor boosting the growth of the market is the rising prevalence of target diseases. Cardiovascular disease (CVD) is a leading cause of death and disability across the globe. Worldwide, 17.9 million deaths owing to CVD were reported in 2019, which amounts to 32% of the total deaths across the globe (Source: WHO). More than 75% of deaths owing to CVDs occur in low- and middle-income countries. In the US alone, there were more than 390,000 sudden cardiac arrests in 2018 (Source: American Heart Association). Of the total US population, around 65% of deaths due to CVDs occur in people aged 75 and over, 29% in the age group of 55–74, and 6% in the age group of 35–54. Due to this, the demand for defibrillators has increased, as these devices help save the lives of patients at a high risk of cardiac arrest.
The increasing geriatric population across the globe is another key factor contributing to the rising prevalence of CVD, as aging is associated with progressive deterioration in the structure and function of the heart and acts as a catalyst in the development of chronic diseases. So, with the growth in the geriatric population across the world, the incidence of heart diseases is expected to rise.
Market Restraints and Challenges
The key factor hindering the market growth is the issue related to the use of implantable and automated external defibrillators. AEDs installed in public places are sometimes prone to failure owing to problems related to the battery, software, and hardware. Failure to perform defibrillation may result in delayed treatment or even death. Over the years, a number of defibrillators have been recalled owing to technical errors in the functioning of the device with respect to shock delivery, electrical issues coupled with hardware configuration. These defects may lead to undesirable product performance and even the death of the patient in some cases. In 2018, the FDA, in conjunction with Philips, issued a recall notice for various models of the HeartStart MRx Defibrillator. The recall was caused by a defect in the gas discharge tube (GDT), which could lead to the malfunction of the defibrillator. In 2021, Medtronic recalled the Evera, Viva, Brava, Claria, Amplia, Compia, and Visa ICDs and CRT-Ds due to the short battery life associated with these devices.
Request Sample: https://www.globalinsightservices.com/request-sample/GIS10265
Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
Request Customization: https://www.globalinsightservices.com/request-customization/GIS10265
Defibrillators Market Segmentation
The report analyses the global defibrillators market based on the type, patient type, end user, and region.
Major Players in Defibrillators Market
The key players studied in the defibrillators market Medtronic (Ireland), Stryker Corporation (US), Koninklijke Philips N.V. (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US), Abbott (US), Nihon Kohden (Japan), MicroPort (China), BIOTRONIK (Germany), CU Medical Systems (South Korea), METsis Medikal (Turkey), Mediana Co. Ltd. (USA), Mindray Medical International Ltd. (China), Progetti SRL – Medical Equipment Solutions (Italy), Schiller AG (Switzerland), BPL Medical Technologies (India), Metrax GmbH – PRIMEDIC (Germany), MS Westfalia GmbH (Germany), Bexen Cardio (Spain), Axion Medical Equipment Ltd. (Russia), Element Science Inc. (US), Avive Solutions Inc. (US), Jeevtronics Pvt. Ltd. (India), HeartHero Inc. (US), and Shenzhen Comen Medical Instruments Ltd. (China).
Request Discounted Pricing: https://www.globalinsightservices.com/request-special-pricing/GIS10265
Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
• Market Size in 2021 – $11.8 bn
• Market Size in 2031 – $29.3 bn
• CAGR % – 9.5%
• Historic Period – 2015-2020
• Forecast Period – 2022-2031
• Base Year – 2021
Buy your copy here: https://www.globalinsightservices.com/checkout/single_user/GIS10265
About Us
With Global Insight Services, you receive:
• 10-year forecast to help you make strategic decisions
• In-depth segmentation which can be customized as per your requirements
• Free consultation with lead analyst of the report
• Infographic excel data pack, easy to analyze big data
• Robust and transparent research methodology
• Unmatched data quality and after sales service
Contact Us
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: [email protected]
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/
About Global Insight Services
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.