San Francisco, California, March 24, 2015 (GLOBE NEWSWIRE) -- Global defibrillator market is expected to reach USD 15.75 billion by 2020, according to a new study by Grand View Research Inc. Defibrillators, owing to their capability to resolve cardiac related conditions such as cardiac arrhythmias, ventricular tachycardia and ventricular fibrillation are expected to witness substantial growth over the forecast period. Increasing incidences of cardiovascular diseases and rising geriatric population base are some key factors expected to drive market growth by widening the patient base. Moreover, improving healthcare infrastructure and growing focus of key market players on emerging economies is also expected to fuel the growth of this market. Defibrillators are most commonly used to deliver therapeutic doses of electrical energy to the heart in case of a cardiac arrhythmia. Rising mortality rates associated with sudden cardiac arrest (SCA) has led to a consequential rise in demand for defibrillators.
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Further key findings from the study suggest:
- Implantable cardioverter defibrillator (ICD) is the most lucrative product segment. The global market for ICD is expected to grow at a rate of over 6.0% over the forecast period owing to their ability to avoid sudden cardiac arrest (SCA).
- The product is also expected to remain as the most revenue generating segment of the market throughout the forecast period. The rise in demand for single and dual chamber ICDs are some factors expected to drive segment growth over the next six years.
- North America accounted for more than 35.0% of the defibrillator market in 2013. High adoption rates of technologically advanced products and the presence of a sophisticated healthcare infrastructure in the region are some key factors expected to drive regional market growth. Moreover, growing geriatric population base and the prevalence of disease inducing lifestyle habits are expected to widen the patient base, thereby, providing manufacturers with future growth opportunities.
- Asia Pacific is identified as the most lucrative region of the market. Presence of high unmet needs in the emerging markets of China and India and growing patient awareness levels are some factors expected to drive market growth over the forecast period.
- Key players of this market include St. Jude Medical Inc, Boston Scientific Corporation, Biotronik SE & Co. KG, Sorin Group, ZOLL Medical Corporation, HeartSine Technologies, Nihon Kohden Corporation, Defibtech LLC, GE Healthcare, Welch Allyn, Koninklijke Philips N.V., Cardiac Science Corporation and Physio Control Inc.
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For the purpose of this study, Grand View Research has segmented the global defibrillator market on the basis of products and region:
Global Defibrillator Market Product
Outlook (Market Revenue in USD Million, 2012 - 2020)
• Implantable Cardioverter Defibrillator
o Single
Chamber Implantable Cardioverter Defibrillator
o Dual
Chamber Implantable Cardioverter Defibrillator
• External Defibrillator
o Manual
External Defibrillator
o
Automated External Defibrillator
o Wearable
Cardioverter Defibrillators
Global Defibrillator End-use Outlook (Revenue, USD Million,
2012 - 2020)
• Hospital
• Pre Hospital
• Public Access Market
• Alternate Care Market
• Home Health Care
Defibrillator Market Regional Outlook (Market Revenue in
USD Million, 2012 - 2020)
• North America
o
U.S.
o Rest of
North America
• Europe
o
Germany
o UK
o Rest of
Europe
• Asia Pacific
o
Japan
o
China
o
India
o Rest of
Asia Pacific
• Latin America
o
Brazil
o
Mexico
o Rest of
Latin America
• Middle East and Africa
o South
Africa
o Rest of
Middle East and Africa
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.
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