Focus on installation of public access defibrillator (PAD) by the public and private organizations, development of advanced defibrillator devices, and increase in incidence of cardiac diseases drive the growth of the global defibrillator market. The Covid-19 pandemic impacted the purchasing capacities of hospitals, specifically small-scale hospitals, due to shift in focus toward buying resources to take care of patients infected with Covid-19. This led to canceled or postponed defibrillator deals.
The global defibrillator market generated $13.16 billion in 2020, and is expected to reach $24.60 billion by 2030, witnessing a CAGR of 6.6% from 2021 to 2030.
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Focus on installation of public access defibrillator (PAD) by the public and private organizations, development of advanced defibrillator devices, and increase in incidence of cardiac diseases drive the growth of the global defibrillator market. Moreover, rise in adoption of technologically advanced defibrillator devices and rise in demand for quality medical care supplement the growth. However, surge in pricing pressure on market players restrains the market growth. On the other hand, advancements in the next-generation external defibrillators to improve safety and effectiveness present new opportunities in the coming years.
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 Covid-19 pandemic impacted the purchasing capacities of hospitals, specifically small-scale hospitals, due to shift in focus toward buying resources to take care of patients infected with Covid-19. This led to canceled or postponed deals for defibrillators.
- Many public and private organizations stopped or postponed the activities of installation of defibrillators at public places due to possibility of cross-contamination and lockdown measures implemented by governments.
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The key players analyzed in the report include
- Asahi Kasei Corporation
- Stryker Corporation
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- Philips Healthcare
- LivaNova PLC
- Medtronic plc
- Cardiac Science Corporation
- Nihon Kohden Corporation
- St. Jude Medical, Inc.
Key Findings of Defibrillator Market:
- By product, the implantable defibrillators segment was the highest contributor to the market in 2020.
- Depending on end user, the hospital segment led the market in 2020.
- Region wise, North America garnered the largest revenue share in 2020. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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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