The global defibrillator market is expected to reach USD 18.2 billion by 2026 from an estimated USD 11.4 billion in 2021, at a CAGR of 9.7% from 2021…

Defibrillators are specialized devices that monitor the heart rhythm and deliver electric shocks to rectify abnormal heart rhythms on detection, and as such, play an important role in the treatment of sudden cardiac arrest.

New York, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Defibrillator Market by Product Type, Patient Type, End Users And Region - Global Forecast to 2026" - https://www.reportlinker.com/p04141096/?utm_source=GNW Growth in this market is mainly driven by the rising prevalence of target diseases, growing focus on providing public-access defibrillators, and training and awareness programs on defibrillators.

In addition, emerging markets and the development of S-ICDs and MRI-compatible ICDs and CRT-Ds are expected to offer growth opportunities for players in the defibrillators market.Cardiovascular disease (CVD) is a leading cause of death and disability across the globe.

Globally, 17.9 million deaths due to CVD were reported in 2019, which amounts to 32% of the total deaths worldwide (Source: WHO). More than 75% of deaths due to CVDs occur in low- and middle-income countries. In the US alone, there were more than 390,000 sudden cardiac arrests in 2018 (Source: American Heart Association). Of the total US population, around 65% of deaths due to CVDs occur in people aged 75 and over, 29% in the age group of 5574, and 6% in the age group of 3554. Owing to this, the demand for defibrillators has increased, as these devices help save the lives of patients at a high risk of cardiac arrest. However, issues related to the use of implantable and automated external defibrillators, frequent product recalls, and a lack of awareness about sudden cardiac arrest in developing nations are expected to hinder the growth of the defibrillators market during the forecast period. Other factors such as limited reimbursements, lack of infrastructure, particularly in developing and underdeveloped countries are also expected to hinder the growth of this market.

Implantable Cardioverter Defibrillator segment accounted for the largest share of global defibrillator market in 2020 Based on type, the defibrillators market is broadly segmented into implantable cardioverter defibrillators (ICDs) and external defibrillators.The ICDs is further divided into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators, whereas external defibrillators are divided into manual aed, fully automated aed and wearable defibrillator.

The ICDs segment accounted for a share of 71.5% of the global defibrillators market in 2020. The large share of this market segment can be attributed to the increasing prevalence of cardiovascular diseases and the development of technologically advanced defibrillators. For instance in July 2020, Abbott received FDA approval for its next-generation ICDs and CRT-Ds under the brand name of Gallant.

Hospitals, clinics and cardiac centres segment accounted for the largest market share of the defibrillator market based on end user in 2020 Based on end users, the defibrillators market is segmented into hospitals, clinics, and cardiac centers; prehospital care settings; public-access markets; alternate care facilities; home care settings; and other end users. The hospitals, clinics, and cardiac centers segment dominated the global defibrillators market, with a share of 80.2%, in 2020. The development of advanced ICDs and CRT-Ds and the large number of ICD and CRT-D implant procedures performed in hospitals, clinics, and cardiac centers are the major factors contributing to the large share of this end-user segment. The growing number of cardiac implant procedures and the availability of reimbursements across developed markets are the other major factors driving the growth of this end-user segment. According to the American Heart Association, an estimated 10,000 ICD procedures are carried out each month in the US alone (data as of July 2016). Similarly, the total number of ICD implants in England increased to 72 per million population in 2014 from 66 per million population in 2012 (Source: British Heart Rhythm Society).

Adult patients segment accounted for the largest market share of the defibrillator market based on patients type in 2020 Based on patient type, the defibrillators market is segmented into adult and pediatric patients. The adult patients segment dominated the global defibrillators market with a share of 59.5% in 2020.

In 2020, there were roughly 75 million adult patients (in the age group of 15 years and over) globally and 25 million pediatric patients (in the age group of 014 years) (Source: World Bank). According to data by the World Health Organization (WHO), around 30% of all global deaths occur due to cardiovascular disease, accounting for 17.9 million lives lost each year. About 2 in 10 deaths due to CVD (cardiovascular disease) occur in patients aged less than 65 (Source: Center for Disease Control and Prevention). The major reasons for heart disease are high blood pressure, high cholesterol, diabetes, obesity, unhealthy diets, physical inactivity, and excessive alcohol use.

The development of advanced ICDs, CRT-Ds, and AEDs, along with increasing awareness about cardiac diseases and preventive measures taken by government bodies, are the major factors contributing to the growth of the market.

The APAC market, by region, to register highest growth rate in the forecast period The global defibrillators market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of 44.2% of the global defibrillators market, followed by Europe. On the other hand, the Asia Pacific market is estimated to register the highest growth rate during the forecast period. Factors such as the high burden of target diseases, rising geriatric population, and increasing awareness regarding defibrillators support the growth of the defibrillators market in the APAC. Particularly in Japan; increasing disposable incomes, allowing for greater affordability for advanced technologies; the rising prevalence of target diseases; and favorable government initiatives. Such factors help to drive the market in this region and draw foreign investments and partnerships. On the other hand, low hospital budgets, high equipment costs, and a lack of government investments in some countries are limiting the growth of the market in the Asia Pacific to a certain extent.

A breakdown of the primary participants referred to for this report is provided below: By Company Type: Tier 125%, Tier 237%, and Tier 3 38% By Designation: C-level34%, Director-level35%, and Others31% By Region: North America24%, Europe32%, Asia Pacific28%, Latin America10%, and the Middle East & Africa6%

Prominent players in the defibrillators market include Medtronic (Ireland), Stryker Corporation (US), Koninklijke Philips N.V. (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US), Abbott (US), Nihon Kohden (Japan) and MicroPort (China).

Research Coverage This report studies the defibrillator market based on product type, patient type, end user and region.It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders.

Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).

Reasons to Buy the Report The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.

This report provides insights on the following pointers: Market Penetration: Comprehensive information on the product portfolios offered by the top players in the defibrillaotr market Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the defibrillator market Market Development: Comprehensive information on lucrative emerging regions Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the defibrillator market Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players. Read the full report: https://www.reportlinker.com/p04141096/?utm_source=GNW

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The global defibrillator market is expected to reach USD 18.2 billion by 2026 from an estimated USD 11.4 billion in 2021, at a CAGR of 9.7% from 2021...