Newark, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The brainy Insights estimates that the USD 13.69 billion in 2022 defibrillator market will reach USD 30.88 billion by 2032. Some of the primary drivers of this market's expansion are increased product advancements, increased incidence of sudden cardiac arrest, greater public awareness, and supportive actions by governmental and healthcare organizations. Despite advances in prevention and treatment, sudden cardiac arrest is responsible for almost half of all cardiovascular disease deaths. The market's demand for both ICDs and external defibrillators is expected to rise, as a result, boosting market innovation.
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Key Insight of the Defibrillator Market
Asia Pacific to account for the fastest CAGR of 11.57% during the forecast period
Asia Pacific is expected to have the fastest CAGR of 11.57% in the defibrillator market. This is due to the expanding healthcare industry, large patient base, and incidence of heart disorders. Because defibrillators are widely used, and there are supportive policies, the Japanese market is driving regional growth. In addition, the market leader in Japan and manufacturer of manual external defibrillators, Nihon Kohden, reported sales of over USD 66,000 in 2020.
The External Defibrillators (ED) segment is anticipated to grow at the highest CAGR of 12.33% over the forecast period.
Over the projection period, the External Defibrillators (ED) segment is expected to grow at the highest CAGR of 12.33%. This results from technological developments and programs improving AED accessibility in public settings. A measure to improve the availability and accessibility of AEDs (Public Access) is currently being considered. If the measure is approved, installing defibrillators in public locations will be required, along with increasing demand for AEDs. In significant markets, such as the United States, Canada, Italy, Japan, Australia, and China, favorable legislative policies and activities by public and commercial health organizations already exist to increase public access to defibrillators.
The public access market segment is anticipated to grow at the highest CAGR of 10.62% over the forecast period.
Over the projected period, the segment for the public access market is expected to increase at the highest CAGR of 10.62%. The growing efforts to train staff, make more AEDs accessible to the general public, and enhance responsiveness to sudden cardiac arrest situations are contributing to the growth of the public access market segment. Numerous tourist destinations, first-tier cities, and coastal provinces have started fast AED deployment. AED distribution at airports, metro stations, police cars, ships, and other public locations has also been made mandatory for the first time in various places.
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Advancement in market
In July 2020, Phillips acquired 510(k) clearances from the FDA for their professional defibrillator (Tempus LS- Manual). As a result, EMS clients in the U.S. can purchase its remote monitor and defibrillator system (Tempus ALS).
In June 2020, premarket Approval (PMA) for the ZOLL AED 3 defibrillator with enhanced real CPR assistance, integrated child rescue, and wireless connectivity was granted to ZOLL Medical Corporation, a subsidiary of Asahi Kasei Group.
In February 2020, Abbott obtained CE Mark certification for the Gallant implanted cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices. With the help of connected applications and enhanced smartphone connectivity, the gadgets provide new potential for patient interaction and remote monitoring. Other advantages include a patient-favored design, longer battery life, and MRI compatibility.
Market Dynamics
Driver: Ageing population, public AEDs, and rising incidence of cardiac issues
The market's main driver is predicted to be the increased prevalence of cardiac problems across age groups due to demanding jobs, sedentary lifestyles, smoking, drinking, and drug addiction. Everywhere, atrial fibrillation is on the rise. Atrial fibrillation is a condition that is expected to become more prevalent. An elevated burden of arrhythmias during the anticipated period may accelerate market expansion. A significant market driver is an aging population. Older people are more likely to suffer from chronic conditions like cardiovascular disorders. The market is growing because more people use AEDs (automated external defibrillators) in public places. As more people learn about its ability to save lives, the device is being installed in numerous train stations, schools, universities, malls, airports, and recreational facilities. In a medical emergency, anyone can utilize a defibrillator that is present in a public space. In public spaces, PADs are being put in several countries as incidences rise.
Opportunity: Advancements in next-generation defibrillators
The development of next-generation defibrillators is expected to lead to a faster-than-expected expansion of the defibrillator market. Defibrillators on the market assist in locating and fixing device-related issues. The most frequent cause of death worldwide is SCA, a potentially fatal disorder. With prompt treatment and defibrillation, this condition can be controlled. Due to the growing number of heart failure patients utilizing them, AEDs are currently the most widely used external defibrillators on the market. They are expected to grow at the fastest rate. The availability of more AEDs coincided with an increase in demand. Currently, wearables outperform manual external defibrillators. In the upcoming years, S-ICDs, MRI-compatible ICDs, and CRT-Ds can help the market grow.
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Some of the major players operating in the defibrillator market are:
• Abbott
• BIOTRONIK SE & Co. KG
• Koninklijke Philips N.V.
• ZOLL Medical Corporation (Asahi Kasei)
• Progetti Srl
• MS Westfalia GmbH
• AXION Ltd.
• MicroPort Scientific Corporation
• CU Medical Systems
• Mediana Co. Ltd.
• Metrax GmbH – PRIMEDIC
• Avive Solutions Inc.
• HeartHero Inc.
• Medtronic
• Schiller AG
• Bexen Cardio
• METsis Medikal
• BPL Medical Technologies
• Jeevtronics Pvt. Ltd.
• Shenzhen Comen Medical Instruments Ltd.
• Boston Scientific Corporation
• Nihon Kohden Corporation
• Element Science Inc.
• AMI Italia
• Stryker
• Mindray Medical International Ltd.
Key Segments cover in the market:
By Product:
• External Defibrillators (ED)
• Implantable Cardioverter Defibrillators (ICD)
By End-use:
• Pre-Hospital
• Alternate Care Market
• Hospital
• Home Healthcare
• Public Access Market
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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