According to the new market research report "Defibrillators Market by Product (Implantable Cardioverter Defibrillator (Transvenous ICD, Single & Dual Chamber, CRT-D, S-ICD) and External (Manual, AED, Wearable)), End User (Hospitals, Prehospital, Public Access, Home care) - Global Forecast to 2022", published by MarketsandMarketsâ„¢, the 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%.
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Factors such as technological advancements in defibrillators, rising prevalence of target diseases, growing focus on providing public access defibrillation, and rising number of training & awareness programs across the globe are driving the growth of this market.
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.
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By end user, the public access markets segment is expected to be the fastest growing segment in the forecast period
On the basis of end user, the defibrillators market is segmented into hospitals, clinics, and cardiac centers; pre-hospital care settings; public access markets; home care settings; and alternate care facilities. The public access markets segment is expected to grow at the fastest CAGR during the forecast period. Growth in this segment is attributed to the development of advanced AEDs, rising cases of sudden cardiac arrest at out-of-hospital settings, and increasing number of public access defibrillation programs across the globe.
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 & product innovations in the region.
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The key 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), Cardiac Science (US), LivaNova (UK), Nihon Kohden (Japan), SCHILLER (Switzerland), Mindray Medical (China), Mediana (South Korea), METRAX (Germany), and METsis (Turkey).
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