Defibrillators Market Expansion: Rising Demand

• Posted by Karls Scott November 22, 2024 Filed in Business #Defibrillators Market  35 views
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  The global defibrillator market size is expected to reach USD 12.57 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 8.1% from 2024 to 2030. The key drivers for this market include supportive regulatory policies, rising incidences of sudden cardiac arrests, product developments, and rising awareness regarding cardiac conditions. The COVID-19 pandemic, however, gave rise to several challenges such as dampened demand for ICDs, logistical bottlenecks, postponed elective surgeries across the globe, and reduced sales growth.

  The demand for ICDs plunged during 2020 as governments in many key markets implemented movement restrictions and hospitals deferred elective procedures. The sales recovered gradually as movement restrictions were eased and elective procedure volume went up. For instance, Abbott reported a decline in demand and sales of its cardiovascular and neuromodulation portfolio in 2020. Abbott attributed the sales decrease to reduced procedure volumes resulting from the pandemic.

  Gather more insights about the market drivers, restrains and growth of the Global Defibrillators Market

  The rising demand to develop solutions to improve sudden cardiac arrests response and the need to improve patient outcomes is expected to drive innovation in implantable as well as external defibrillators product segments. Innovation in the implantable defibrillators segments is driven by product advancements in subcutaneous and transvenous devices to increase device safety and efficacy. Integration of digital technologies such as analytics and tracking software is expected to drive the development in the external defibrillators segments. Other emerging technological trends include developments in personal AEDs for use in home settings, improvements in tracking technology for AEDs, the use of drones to deliver devices to care sites, and the use of IoT.

  Defibrillators Market Report Highlights

  • North America held the largest revenue share in 2023 due to the advanced healthcare infrastructure, supportive policies driving adoption of public access AEDs, and deeper penetration of the technologically advanced devices

  • Asia Pacific is anticipated to register the highest CAGR of 9.3% over the forecast period owing to the high prevalence of cardiovascular diseases in China and India and increasing healthcare expenditure

  • The industry participants are focusing on investing in acquisitions, collaborations, product launches, and partnerships to gain a competitive edge in the market

  • Some of the leading players in the market are headquartered in Asia such as Asahi Kasei, Nihon Kohden, and Microport, thus contributing to the regional market growth

  • Europe held a significant revenue share in 2023 owing to initiatives by key companies and well-established healthcare infrastructure

  • For instance, in January 2020, Medtronic received the CE mark for its Cobalt and Crome lineup of defibrillators. This extended the company’s cardiac solutions offerings and enabled it to commercialize the products across Europe

  Browse through Grand View Research's Medical Devices Industry Research Reports.

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  Defibrillators Market Segmentation

  Grand View Research has segmented the global defibrillators market on the basis of product, end-use, and region:

  Defibrillators Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Implantable Cardioverter Defibrillators (ICD)
    • S-ICD
    • T-ICD
      • Single Chamber
      • Dual Chamber
      • CRT-D
    • External Defibrillators (ED)
      • Manual ED
      • Automated ED
      • Wearable Cardioverter Defibrillators

  Defibrillators End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospital
  • Pre-hospital
  • Public Access Market
  • Alternate Care Market
  • Home Healthcare

  Defibrillators Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America
    • S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Denmark
    • Sweden
    • Norway
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE
    • Kuwait

  Order a free sample PDF of the Defibrillators Market Intelligence Study, published by Grand View Research.