Defibrillator Market Overview
An overview of conceptual frameworks, analytical approaches of the Defibrillator market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Defibrillator market is expected to grow with significant rate in the near future.
The Defibrillator market in 2019 is accounted for more than US$ xx Bn and expected to reach at a value of US$ XX Bn by 2028 with a significant CAGR of x.x%.
Defibrillator Market Definition
Defibrillators are lifesaving devices that apply an electric shock to establish a more normal cardiac rhythm in patients who are experiencing ventricular fibrillation (VF). Defibrillation is the only effective therapy for cardiac arrest caused by ventricular fibrillation. If defibrillation is delivered promptly, survival rates as high as 75% have been reported.
The guidelines on cardiopulmonary resuscitation of the European Resuscitation Council and American Heart Association (AHA) strongly recommend attempting defibrillation with minimal delay in victims of VF/VT cardiac arrest. The defibrillator charges with a large capacitor. In case of external defibrillation, paddles are discharge on the patient’s chest. Disposable defibrillation electrodes can be used as an alternative. For internal defibrillation small concave paddles are used.
Defibrillator Market Dynamics
Growing prevalence of cardiovascular disorders is the first and foremost factor driving the growth of global defibrillators market. Growing preference of implantable cardiac defibrillators (ICD) is further pushing the market growth.
Moreover increasing aging demographics would fuel the growth of global defibrillators market. It is estimated that 70–80% of all ICDs implanted for the indication of sinus node dysfunction (SND) occur in patients over the age of 65. According to WHO, The absolute number of people aged 60 years and over is expected to increase from 605 million to 2 billion by 2050.
Technological advancements such as automated portable defibrillators are expected to increase the penetration of defibrillators across all end users. Growing instances of cardiac arrhythmias is fueling growth of global defibrillators market.
Defibrillator Market Key Players
Global market for defibrillators is dominated by Medtronic PLC., Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Nihon Kohden Corporation, ZOLL Medical Corporation, Abbott (St. Jude Medical, Inc.), Cardiac Science Corporation, LivaNova PLC, Philips Healthcare, Stryker Corporation etc. among others.
Defibrillator Market Segmentation
The global defibrillators market is segmented on the basis of product type, mechanism of operation, end user and region.
On the basis of product type, defibrillators market is segmented as external defibrillators (further segmented as manual and automatic), internal defibrillators, implantable cardiac defibrillators (further segmented as transvenous implantable cardioverter defibrillator and subcutaneous implantable cardioverter defibrillator).
Based on mechanism of operation global market is segmented as Impedance-based defibrillators, Current-based defibrillators and others.
On the basis of end user, global defibrillators market is segmented into hospitals, ambulatory surgical centers, trauma centers, etc.
Defibrillator Market Regional Segmentation Overview
On the basis of region, the global defibrillators market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America defibrillators market is expected to be the most dominating market throughout the forecast period due to increasing number of cardiac interventional procedures and growing patient pool.
Presence of key players in Europe makes it second largest market for defibrillators. Asia Pacific defibrillators market is expected to witness highest growth rate due to increasing number of hospitals and medical institutes.
MMC Overview on Defibrillator Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give better opportunity for the customers to put their effort.
A research report on the Defibrillator market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market. The report is titled as ‘Defibrillator Market: Opportunity Analysis and Future Assessment 2020-2028’.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Concerns for use of Defibrillator products
Advantages of Defibrillator
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.