Reports and Insights freshly added a report titled “Defibrillator Market: Opportunity Analysis and Future Assessment 2022-2030” in its database of market research reports which offers its readers a detailed and profound analysis on the fresh growth opportunities, trends and growth drivers that are closely linked with the growth of the market. The report further provides crucial insights on the COVID-19 impacts on the Defibrillator Market along with the compound growth rate (CAGR) of the market for a forecasted period between 2022 and 2030. The report also comprises assessment of the market by employing various analytical tools, such as Porter’s five forces analysis and PESTEL analysis. These tools also offer an in-depth analysis on the micro and macro-environmental factors that are related to the growth of the market over the projected period.
The defibrillator market in 2022 is accounted for US$ 13.8 Bn and expected to reach at a value of US$ 22.4 Bn by 2030 with a significant CAGR of 6.3%.
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Defibrillator Introduction
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.
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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 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.
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