Defibrillators Market - Insights on Scope and Growing Demands 2022

Published: Wed Sep 12 2018


Market growth factors
Factors such as technological advancements in defibrillators, increasing burden of target diseases, growing focus on providing public-access defibrillators, and rising number of training and awareness programs on defibrillators are driving the growth of this market.

What experts says about the growth of this market?
The global defibrillators market is projected to reach USD 10.88 Billion by 2022 from USD 9.32 Billion in 2017, growing at a CAGR of 3.1%.

Defibrillators Market by Product (Implantable Cardioverter Defibrillator (Transvenous ICD, Single and Dual Chamber, CRT-D, S-ICD) and External (Manual, AED, Wearable)), End User (Hospitals, Prehospital, Public Access, Home care) - Global Forecast to 2022

By product, the implantable cardioverter defibrillators segment is expected to hold the largest share of the market in 2017

On the basis of products, the defibrillators market is classified into implantable cardioverter defibrillators (ICDs) and external defibrillators. The ICDs product segment is bifurcated into transvenous implantable cardioverter defibrillators (T-ICDs) and subcutaneous implantable cardioverter defibrillators (S-ICDs). The T-ICDs segment is further classified into single-chamber ICDs, dual-chamber ICDs, and cardiac resynchronization therapy defibrillators (CRT-Ds). The external defibrillators segment is further classified into manual external defibrillators, automated external defibrillators (AEDs), and wearable cardioverter defibrillators (WCDs). The ICDs segment is expected to account for the largest share of the global defibrillators market in 2017. 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.
(Source: MarketsandMarkets™)
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Key players
As of 2016, some of the prominent players in the defibrillators market were Medtronic (Ireland), St. Jude Medical (US), Boston Scientific (US), Philips (Netherlands), ZOLL Medical (US), BIOTRONIK (Germany), Physio-Control (US), Cardiac Science (US), LivaNova (UK), Nihon Kohden (Japan), SCHILLER (Switzerland), Mindray Medical (China), Mediana (South Korea), METRAX (Germany), and METsis (Turkey).
Analysis of the market developments between 2014 and 2017 show that product launches and approvals was the most widely adopted growth strategy by players in the market. Players adopted this strategy to strengthen their market position.

Know the strategies adopted by market players

Geographic Overview
North America is expected to dominate the market in 2017
Geographically, the defibrillators market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the market in 2017, followed by Europe. The large share of North America can primarily be attributed to the rising geriatric population, increasing incidence of cardiovascular diseases, and continuous technological advancements and product innovations in the region.

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