Industry Outlook and Trend Analysis
Defibrillators Market was worth USD 8.56 billion in 2014 and is expected to reach approximately USD 11.38 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 3.21% during the forecast period. Defibrillators are devices that are used to provide therapeutic shock to a patient's heart in dangerous conditions, for example, cardiac arrhythmia, ventricular fibrillation, and pulseless ventricular tachycardia. The defibrillation method includes giving an electric stun to the heart, which depolarizes the muscles of the heart and re-establishes its ordinary electric drive. Developing concentration towards public access defibrillator (PAD) by people in public and private associations has powered the market development. In addition, enhanced defibrillator devices, quickly developing aged populace with increased danger of infections, and expanding rate of heart diseases among all ages are further driving the market development. Nonetheless, product failures and increasing pressure of pricing on players and absence of awareness about sudden heart failure (SCA) are controlling the development of this market.
Product Outlook and Trend Analysis
The defibrillators market is partitioned into two sections: Implantable Convertible Defibrillators (ICD) and External Defibrillators, on the basis of products. ICDs added to over 50.0% of the general market in 2016. These devices are useful as a persistent monitoring device for arrhythmias. The demand of these devices has expanded because of the influx of different technologies, for example, pacemakers, with defibrillators. As ICDs are utilized for the management arrhythmias for a broadened period, this section is foreseen to reflect critical development.
End User Outlook and Trend Analysis
Hospitals held over 88.0% share of the general end-use portion. Hospitals are anticipated to be outfitted with outside and implantable defibrillators. Implantable defibrillators are accessible for the most part in hospitals. Along these lines, hospitals have a considerable contribution to the development of external and implantable defibrillators.
Regional Outlook and Trend Analysis
In 2016, North America represented a major share of the general market. This commitment can be ascribed to expanding rate of cardiovascular diseases, strong government approaches, supportive repayment schemes, expanding awareness, and increment in training programs. Asia Pacific was recognized as the quickest developing business sector for defibrillators.
The leading players in the market are Cardiac Science Corporation, Asahi Kasei, St. Jude Medical, Stryker Corporation, Nihon Kohden, Boston Scientific, Medtronic, LivaNova PLC, Biotronik and Philips Healthcare. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Defibrillator Market is segmented as follows-
Wearable Cardioverter Defibrillator
Manual External Defibrillator and
Automated External Defibrillator (AEDs)
By End User
Alternate Care Market
Public Access market
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?