“The ability of the defibrillator device to diagnose early onset of ventricular tachycardia and ventricular defibrillation is expected to drive the global defibrillator market. On the other hand, the life-saving potential of automated external defibrillators (AEDs) in addition to positive legislations for installation of public access defibrillators (PAD) has witnessed the remarkable growth in the defibrillator market”
The global defibrillators market size is expected to grow $15,610 million by 2022 with a CAGR of 6.5%. Implantable cardioverter defibrillators (ICDs) segment is expected to dominate this market throughout 2015 and 2022. North America would continue to lead, accounting for more than two-fifths share of the world defibrillator market in 2015.
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Advent of automated external defibrillators (AEDs) for public access places, rising incidences of sudden cardiac arrest, and growing awareness towards public access defibrillators worldwide are the factors majorly driving the market growth. The rising number of application areas for defibrillators, coupled with increasing adoption of defibrillator systems (both ICDs and external defibrillators) in cardiology, is expected to boost the world defibrillators market growth. Cost-effectiveness, safety, high accessibility, and clinical value in preliminary treatment of sudden cardiac arrest strengthen the technological advancements in this market. In addition, increase in the number of advanced implantable cardiac defibrillators (S-ICDs, T-ICDs, and CRT-D) and awareness about early treatment of life-threatening cardiac diseases (such as cardiac arrhythmia, ventricular fibrillation, and sudden cardiac arrest) are anticipated to further drive the demand for defibrillators globally. However, unawareness, unfavorable healthcare reforms, certain issues related to (external and implantable) defibrillators are the limitations that restrict the market growth.
The transvenous-implantable cardioverter defibrillator (T-ICDs) segment accounted for about 95% of the overall ICD market in 2015. In addition, cardiac resynchronization therapy defibrillator (CRT-D) is the fastest growing segment and is projected to register a CAGR 5.0% during the forecast period.
Automated external defibrillator (AEDs) segment is projected to maintain its lead in the overall external defibrillators market. Furthermore, wearable external defibrillator is anticipated to exhibit the highest growth, with a CAGR of 12.3% during the forecast period.
North America accounted for the majority of revenue in 2015 and is expected to maintain its dominance throughout the forecast period. However, Asia-Pacific is projected to be the fastest-growing region throughout the analysis period.
The key players in the defibrillators market are focused on expanding their business operations in the fast-growing emerging countries with new product launches as a preferred strategy.
The key players analyzed in the report include
- ZOLL Medical Corporation (a subsidiary of Asahi Kasei Corporation)
- Stryker Corporation
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- LivaNova PLC
- Medtronic plc
- Koninklijke Philips N.V.
- St. Jude Medical, Inc.
- Nihon Kohden Corporation
- Cardiac Science Corporation.
Key Findings of Defibrillator Market:
- In 2015, T-ICDs led the overall implantable defibrillator market revenue, and is projected to grow at a CAGR of 4.9% during the forecast period.
- Wearable external defibrillator segment is expected to grow at a remarkable CAGR of 12.3%, owing to the non-invasive nature and increased demand of home healthcare for the treatment of sudden cardiac arrest.
- Fully-automated defibrillator segment is projected to grow at a CAGR of 9.9% during the analysis period.
- The automated external defibrillator (AEDs) is projected to generate the largest revenue in the external defibrillator market.
- Japan is the major shareholder accounting for about half share of the Asia-Pacific defibrillators market.
Scope of the Report
|Market size available for years||2014-2022|
|Base year considered||2015|
|Forecast units||Value (USD)|
|Segments covered||Product and End User|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
Implantable Defibrillators Market by Product Type [Transvenous Implantable Cardioverter-Defibrillator (T-ICDs), Subcutaneous Implantable Cardioverter Defibrillators (S-ICDS), and Cardiac Resynchronization Therapy Defibrillator (CRT-D)] and Geography (North America, Europe, Asia-Pacific, and LAMEA) – Global Opportunity Analysis and Industry Forecast, 2014-2022
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Cardiac Monitoring & Cardiac Rhythm Management Market by Product (Electrocardiogram (ECG) Devices, Implantable Loop Recorders (ILR), Cardiac Output Monitoring (COM) Devices, Event Monitors, Pacemakers, Cardiac Resynchronization Therapy (CRT) Devices, Defibrillators, and Ventricular Assist Devices (VADs)) and by End User (Hospitals & Clinics, Home Settings, and Ambulatory Surgical Centers (ASCs)) – Global Opportunity Analysis and Industry Forecast, 2014-2022
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