Defibrillators Market to Surpass US$ 22,014.9 Million by 2027

Global Defibrillators Market, by Product Type (Implantable Cardioverter Defibrillators (Single Chamber Implantable Cardioverter Defibrillators and Dual Cardioverter Defibrillators) and External Defibrillators (Manual External Defibrillators, Automated External Defibrillators, and Wearable Cardioverter Defibrillators)), by End User (Hospitals, Cardiac Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 13,676.1 million in 2018, and is projected to exhibit a CAGR of 5.5 % over the forecast period (2019 – 2027). Increasing incidence and prevalence of cardiovascular disorders is expected to fuel demand for defibrillators during the forecast period Increasing incidence of cardiovascular disorders along with increasing demand for defibrillators is expected to drive the market growth during the forecast period. For instance, according to the America Heart Association’s report published in 2019, around 50% of all adults in the U.S. suffer from ]cardiovascular disorders. Key players in the market are focused on expanding their product portfolio through new product approvals. For instance, in April 2019, Stryker launched new defibrillation solution LIFEPAK CR2 defibrillator with LIFELINK central AED program manager for analysis of heart rhythm during CPR, in the U.S. Furthermore, increasing merger and acquisition activities is also expected to drive growth of the global defibrillators market during the forecast period. For instance, in January 2017, Abbott announced acquisition of St. Jude Medical, Inc. The acquisition assisted Abbott to strengthen its market positioning and increase product offering in defibrillators market.

Browse 35 Market Data Tables and 24 Figures spread through 180 Pages and in-depth TOC on ‘Defibrillators Market’- Global Forecast to 2027, by Product Type (Implantable Cardioverter Defibrillators (Single Chamber Implantable Cardioverter Defibrillators and Dual Cardioverter Defibrillators) and External Defibrillators (Manual External Defibrillators, Automated External Defibrillators, and Wearable Cardioverter Defibrillators)), by End User (Hospitals, Cardiac Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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Increasing demand for defibrillators from developing region of the world is expected to propel the growth of the defibrillators market during the forecast period in countries such as India. As manufacturers are increasing focus towards these developing regions to cope up with the demand due to increasing incidence and prevalence of cardiovascular disorders. In the recent past, there has been a rapid increase in patient population in developing economies such as India. For instance, according to America Heart Association’s report published in 2016, cardiovascular diseases (CVDs) are a leading cause of mortality in India. The standardized CVD death rate was 272 per 100,000 population in India, which is higher than the worldwide death rate of 235 per 100,000 population. Key players in the market are focused on adopting new and advance technology for production of efficient product. For instance, in March 2019, BIOTRONIK announced European market launch of Acticor and Rivacor ICD and CRT-D Devices, the world’s smallest implantable cardioverter-defibrillator (ICD) and cardiac resynchronization therapy defibrillator.

Key Takeaways of the Defibrillators Market:

The global defibrillators market is expected to exhibit a CAGR of 5.5% over the forecast period, owing to increasing merger & acquisition activities. For instance, in June 2019, Zoll Medical Corporation entered into a definitive agreement to acquire Cardiac Science Corporation, a provider of automated external defibrillators (AEDs). The agreement is expected to strengthen the market position of Zoll Medical Corporation by increasing its product offerings.
Among product type, the implantable cardioverter defibrillators (ICD) segment accounted to account for major market share in the global defibrillators market in 2018, owing to increasing product approvals and clinical research in major developed and emerging regions. For instance, in May 2019, BIOTRONIK started next-gen trial to study the clinical safety and workflow benefits of ICD and CRT-D systems.
Among end users, the hospitals segment held dominant position in the global defibrillators market in 2018, owing rapidly increasing hospital industry in developing and developed economies. For instance, according to the India Brand and Equity Foundation report published in 2019, the Indian hospital industry is expected to reach a market value of US$ 132.8 billion by 2022. The rapid increase in primarily due to increasing government investment in healthcare infrastructure.
Key players operating in the global defibrillators market include, Koninklijke Philips N.V., Metrax GmbH, Medtronic, Mindray Medical International Limited, Boston Scientific Corporation, GE Healthcare, Nihon Kohden, Abbott, BIOTRONIK, Stryker, and LivaNova PLC