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Defibrillator Market is Anticipated to Grow US$ 20.8 Bn By 2030

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According to Vision Research Reports, the global Defibrillator Market size is expected to reach US$ 20.8 Bn by 2030, expanding at a CAGR of 7.5% during the forecast period 2022 to 2030.

The key drivers for this market include supportive regulatory policies, rising incidences of sudden cardiac arrests, product developments, and rising awareness regarding cardiac conditions. The COVID-19 pandemic, however, gave rise to several challenges such as dampened demand for ICDs, logistical bottlenecks, postponed elective surgeries across the globe, and reduced sales growth.

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The demand for ICDs plunged during 2020 as governments in many key markets implemented movement restrictions and hospitals deferred elective procedures. The sales recovered gradually as movement restrictions were eased and elective procedure volume went up. For instance, Abbott reported a decline in demand and sales of its cardiovascular and neuromodulation portfolio in 2020. Abbott attributed the sales decrease to reduced procedure volumes resulting from the pandemic.

By End-use Analysis

Hospitals held the largest revenue share of over 80.0% in 2021. This is owing to the higher number of cardiac patients received in hospitals and surgeries performed in hospital settings.

The public access market segment is anticipated to register the fastest growth rate of 9.6% over the forecast period due to the rising initiatives to increase the availability of public access AEDs, train personnel, and improve response to sudden cardiac arrest events.

By Product Analysis

Implantable cardioverter defibrillators (ICDs) dominated the market with a share of over 70.0% in 2021. The key factors driving this segment include the growing adoption of these devices due to the high prevalence of cardiovascular diseases, the high geriatric population in key markets, and growing product improvements by major companies.

The external defibrillators segment is anticipated to register the fastest growth rate of 9.3% over the forecast period. This is due to technological advancements and initiatives promoting access to AEDs in public places. A bill to enhance availability and access to AEDs (Public Access) in the U.K. is in the pipeline.

Scope of the Study

This Defibrillator market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, product, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

Key Players

  • Medtronic
  • Abbott
  • Boston Scientific Corporation
  • BIOTRONIK SE & Co. KG
  • MicroPort Scientific Corporation
  • Koninklijke Philips N.V.
  • Stryker
  • ZOLL Medical Corporation (Asahi Kasei)
  • Nihon Kohden Corporation
  • Schiller AG

Market Segmentation

  • By Product
    • Implantable Cardioverter Defibrillators (ICD)
      • Single Chamber
      • Dual Chamber
      • CRT-D
      • S-ICD
      • T-ICD
    • External Defibrillators (ED)
      • Manual ED
      • Automated ED
      • Wearable Cardioverter Defibrillators
  • By End-use
    • Hospital
    • Pre Hospital
    • Public Access Market
    • Alternate Care Market
    • Home Healthcare

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Key Points Covered in Defibrillator Market Survey

  • Demand will remain high in the U.S., backed by favorable reimbursement policies and presence of some of the leading market players.
  • Europe will continue showcasing high demand. Sales will remain high, especially in the U.K., Germany, France, and other countries.
  • China and India will exhibit high demand for Defibrillator, backed by expanding healthcare sector.
  • Focus on research and development will increase in Brazil, creating opportunities for the expansion of the Defibrillator market.
  • In terms of (segment type), (segment name) will emerge as the top-choice.
  • Hospitals are expected to showcase higher demand for Defibrillator on account of greater access to advanced technologies and higher footfall of patients.
  • Driven by the presence of some of the leading pharmaceutical producers, demand in the Japan Defibrillator market will continue increasing at a high pace.

Some of the key highlights covered in the report includes:

  • Defibrillator Market Demand-Supply Analysis – The report covers detailed insights into demand and supply forces prevailing in the global Defibrillator market. It examines trends and factors influencing demand for Defibrillator globally and gauges the impact of the same on the production.
  • Defibrillator Pricing Analysis – The report presents exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.
  • Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.
  • Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for Defibrillator across the world.
  • Competitive Analysis – Some of the leading market players are profiled in the report on Defibrillator. The report offers estimation of share individually help by the market players and determines the impact of some of their popular strategies.
  • COVID-19 Impact Analysis – This chapter is exclusively dedicated to gauging how the market has evolved or will develop in the post-pandemic era.
  • Growth Recommendations – In the end, the report presents valuable recommendations to ready businesses for unforeseen challenges in the near future.

Why should you invest in this report?

If you are aiming to enter the global Defibrillator market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Defibrillator are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Download Full Report @ https://www.visionresearchreports.com/report/cart/39101

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