Defibrillator Market Projected to Discern Stable Expansion by 2028

 Defibrillator Market Growth & Trends

The global defibrillator market size is expected to reach USD 22.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2021 to 2028. Factors contributing to the growth of this market include supportive legislative reforms, rising incidences of sudden cardiac arrests in the region, presence of integrated technology, and rising awareness for cardiac conditions. Moreover, the COVID 19 pandemic further accentuated the need for defibrillators as many elderly patients suffering from COVID-19, suffered from sudden cardiac arrests, and the device was useful for the resuscitation of such patients.

The rising demand for handling sudden cardiac arrests is leading to innovation in implantable as well as external defibrillators. Innovation with regards to implantable devices includes subcutaneous and transvenous devices, that aim to increase the comfort level of patients. Swedish Transport Agency ran a program in 2017 under the test phase, which aimed to deliver AEDs using a drone. This may reduce the delivery time of an AED, increasing the chances of survival with faster treatment. Therefore, the market is anticipated to grow because of technological advancements and product delivery innovations.

Major market players are focused on launching technologically advanced products to enhance their presence. For instance, in July 2020, Zoll Medical Corporation launched a new remote view technology feature on its X Series monitor/defibrillator. This enhanced the existing product portfolio.

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Defibrillator Market Report Highlights

• The implantable cardioverter defibrillator segment dominated the market in terms of revenue share in 2020 and is projected to witness a CAGR of over 7.2% from 2021 to 2028. Technological advancements by market players are expected to drive segment growth
• North America held the largest revenue share in 2020, due to the supportive healthcare infrastructure and deeper penetration of the technologically advanced devices
• The industry participants are focusing on investing in acquisitions, collaborations, product launches, and partnerships to gain a competitive edge
• The hospital segment held the largest revenue share of more than 91.0% in 2020 owing to the high patient footfall for treatment of their cardiovascular ailments
• In Asia Pacific, the market is anticipated to witness a CAGR of around 8.1% owing to the presence of emerging economies such as China and India and increasing healthcare expenditure
• In January 2020, Medtronic received the CE mark for its Crome and Cobalt portfolio of defibrillators. This significantly enhanced the company’s cardiac solutions offerings and allowed it to commercialize the products in the market

Defibrillator Market Segmentation

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

Defibrillators Product Outlook (Revenue, USD Million, 2016 - 2028)

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

Defibrillators End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Hospital
• Pre Hospital
• Public Access market
• Alternate Care market
• Home Healthcare

Defibrillators Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Defibrillator Market

• Medtronic
• Abbott
• Boston Scientific Corporation
• Stryker
• Koninklijke Philips N.V.
• Zoll Medical Corporation
• Biotronik, Inc.
• Nihon Kohden Corporation
• Progetti Srl, Schiller
• MS Westfalia GmbH
• AMI Italia
• Axion Ltd
• Bexen Cardio

Access Press Release of Defibrillator Market@ https://www.grandviewresearch.com/press-release/global-defibrillators-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.