Central India Chronicle

Defibrillator Market worth $18.1 billion | Unveiling Business Trends, Regional Growth, and Emerging Applications to 2028

 Breaking News
  • No posts were found

Defibrillator Market worth $18.1 billion | Unveiling Business Trends, Regional Growth, and Emerging Applications to 2028

August 22
13:45 2023
Defibrillator Market worth $18.1 billion | Unveiling Business Trends, Regional Growth, and Emerging Applications to 2028
Major players in the defibrillator market include Medtronic (Ireland), Stryker (US), Koninklijke Philips N.V. (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US), MicroPort Scientific Corporation (China), Nihon Kohen Corporation (Japan).
Browse 179 market data Tables and 37 Figures spread through 217 Pages and in-depth TOC on “Defibrillator Market by Product [Tranvenous ICD (Single & dual chamber, biventricular, CRT-D), Subcutaneous, External (Automated, Wearable)], Patient (Adult, Pediatric), Enduser (Hospitals, Prehospital, Home care, Public Access) – Global Forecast to 2028

Defibrillator Market in terms of revenue was estimated to be worth $13.6 billion in 2023 and is poised to reach $18.1 billion by 2028, growing at a CAGR of 5.9% from 2023 to 2028 according to a new report by MarketsandMarkets™. The defibrillators market is mainly driven by the rising incidence of coronary artery diseases, growth in the older population, availability of medical reimbursements for cardiac procedures, expansion of healthcare infrastructure across emerging economies, growing number of players on boosting the research in defibrillators machine, and increase government focuses in boosting the installation of automated external defibrillators in public access places. However, frequent product recalls and issues related to implantable and automated defibrillators are some of the key challenges the leading players face in the global market.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=549

By product, Implantable Cardioverter-Defibrillator (ICDs) segment is expected to account for the largest defibrillators market share in 2022

Based on product, the defibrillators market is broadly segmented into implantable cardioverter defibrillators (ICDs) and external defibrillators. The implantable cardioverter defibrillators (ICDs) segment is anticipated to capture the largest global defibrillators market share by product in 2022. Timely intervention using implantable defibrillators during cardiac emergencies is a key advantage offered by this programmed device. Moreover, growing approvals of technologically advanced implantable defibrillators and rising preference for subcutaneous ICDs are likely to support the growth of this segment during the forecast period.

By end-users, the hospitals, clinics, and cardiac centers segment is anticipated to dominate the defibrillator market in 2022

Based on end users, the defibrillators market is segmented into hospitals, clinics, and cardiac centers; public-access markets; pre-hospital care settings; home care settings; alternate care facilities; and other end users. The hospitals, clinics, and cardiac centers segment will dominate the global defibrillators market in 2022. The significant rise in hospitalization for critical cardiac conditions, the growing number of ICD and CRT-D implant procedures performed in hospitals & cardiac centers, and the rising prevalence of cardiac diseases among geriatric patients are the major factors boosting the demand for defibrillators among target end user segments during the study period.

North America to dominate the global defibrillator market

The defibrillators market is segmented based on the region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the defibrillators market. This can be attributed to the rapid adoption of technologically advanced defibrillators, favorable reimbursement policy, and the strong presence of defibrillator manufacturers with a strong focus on strengthening R&D through investments in new product development. Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to the presence of a large target patient pool, government initiatives to modernize & expand healthcare infrastructure, and expansion of market players in the region.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=549

Defibrillator Market Dynamics:

Drivers:

  • Growing prevalence of target diseases

Restraints:

  • Issues related to the use of implantable and automated external defibrillators

Opportunities:

  • Growing number of mergers & acquisitions among market players

Challenges:

  • Lack of awareness about sudden cardiac arrests in developing countries

Key Market Players:

Major players in the defibrillator market include Medtronic (Ireland), Stryker (US), Koninklijke Philips N.V. (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US), MicroPort Scientific Corporation (China), Nihon Kohen Corporation (Japan).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=549

Recent Developments:

  • In February 2023, Medtronic (Ireland) received the CE Mark for its implantable defibrillator system, Aurora EV-ICD MRI SureScan, and Epsila EV MRI SureScan for the management of irregular heart rhythm
  • In January 2022, Koninklijke Philips N.V. (Netherlands)acquired Cardiologs (France)to boost its cardiac diagnostic and monitoring product offerings
  • In May 2021, MicroPort Scientific Corporation (China) and Implicitly Inc. (US) entered into a distribution agreement to scale up Microport’s cardiac rhythm product offerings

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/automated-external-defibrillator-market-549.html