The report is titled as ‘Defibrillator Market: Opportunity Analysis and Future Assessment 2020-2028’. 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 2020 is accounted for US$ 13.8 Bn and expected to reach at a value of US$ 22.4 Bn by 2028 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 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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