Defibrillator Market expected to Witness Huge Revenue Growth to 2031

The global Defibrillator market size is valued at 14.00 billion in 2023 and is predicted to reach 24.17 billion by the year 2031 at a 7.12% CAGR during the forecast period for 2024-2031.

 

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Latest Drivers Restraint and Opportunities Market Snapshot:

Key factors influencing the global Defibrillator Market are:

• Developments in technology
• Increase in the elderly population
• Growing heart disease prevalence

The following are the primary obstacles to the Defibrillator Market’s expansion:

• Cost implication
• Lack of awareness
• Concerns about AIEDs and implantable defibrillators

Future expansion opportunities for the global Defibrillator Market include:

• Defibrillator innovations for the future
• Increasing focus on research and development
• Healthcare facilities are increasingly utilizing ICDs

 

Market Analysis:

A defibrillator is a medical device that can treat potentially fatal heart arrhythmias. The devices in question work by shocking the heart electrically, which helps to get its rhythm back. The need for improved medical equipment and the rising incidence of cardiovascular disorders are leading to an anticipated expansion of the defibrillator market.

 

List of Prominent Players in the Defibrillator Market:

• Abbott
• AMI Italia
• Asahi Kasei Corporation
• Avive Solutions Inc.
• AXION Ltd.
• Bexen Cardio
• Biotronik SE & Co. KG
• Boston Scientific Corporation
• BPL Medical Technologies
• Cardiac Science Corporation
• CU Medical Systems
• Element Science Inc.
• HeartHero Inc.
• Jeevtronics Pvt. Ltd.
• LivaNova PLC
• Mediana Co. Ltd.
• Medtronic plc
• Metrax GmbH – PRIMEDIC
• METsis Medikal
• MicroPort Scientific Corporation
• Mindray Medical International Ltd.
• MS Westfalia GmbH
• Nihon Kohden Corporation
• Philips Healthcare
• Progetti SRL – Medical Equipment Solutions
• Schiller AG
• Shenzhen Comen Medical Instruments Ltd.
• Jude Medical, Inc.
• Stryker Corporation

 

Recent Developments:

• In December 2023, Asahi Kasei is expanding its chlor-alkali electrolysis cell rental service in a European trial run with Nobian GmbH and LOGISTEED Europe B.V. The Nobian company, headquartered in North Rhine-Westphalia, Germany, is one of the most prominent European chlor-alkali1 producers.
• In November 2023, BIOTRONIK’s new manufacturing and research hub for the Asia-Pacific region was recently unveiled. There will be hundreds of people employed in manufacturing, quality assurance, research and development (R&D), sales, and marketing at the 20,000 m² site, making it the company’s nerve center in The Asia-Pacific region.
• In June 2023, LivaNova PLC announced that Bill Kozy, Interim CEO and Board Chair of LivaNova, will present at the New York Piper Sandler Healthcare Conference.

 

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Defibrillator Market Dynamics:

Market Drivers: Growing Heart Disease Prevalence

The defibrillator market will be limited in expansion due to the rising incidence of cardiovascular illnesses. In terms of both death and disability, cardiovascular disease (CVD) ranks first globally. A further contributor to the alarming increase in CVD risk factors is the prevalence of lifestyle-related disorders such as diabetes, hypertension, obesity, dyslipidemia, and dyslipidemia. An increased risk of cardiovascular diseases is significantly and linearly related to hypertension. Defibrillators deliver a powerful shock that supplies the necessary oxygen and blood to the affected organs, leading to market growth.

 

Challenges: Cost Implication

Defibrillators have high starting prices, which is a big factor that could slow the market’s growth. High costs of defibrillators and wearable cardioverter defibrillators may prevent their widespread use, particularly among the economically disadvantaged and in countries with low per capita income, despite the rising number of patients suffering from cardiac illnesses.

 

North America is Expected to Grow with the Highest CAGR During the Forecast Period

The North America defibrillator Market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This is due to the increasing investment in R&D and the generally high-quality healthcare services in the area. And since the incidence of cardiac disorders continues to rise, the market in this area is expected to experience excellent growth. The region’s high rate of defibrillator adoption is attributable, in part, to its highly developed healthcare infrastructure and sophisticated medical technology. The higher frequency of cardiovascular illnesses in the region has contributed to the market’s growth, particularly in the United States.

 

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Segmentation of Defibrillator Market-

By Product-

• Implantable Defibrillators
  • Transvenous Implantable Cardioverter Defibrillator (T-ICD)
  • Subcutaneous Implantable Cardioverter Defibrillator (S-ICD)
  • Cardiac Resynchronization Therapy- Defibrillator (CRT-D)
• External Defibrillators
  • Manual External Defibrillator
  • Automated External Defibrillators (AEDs)
  • Wearable Cardioverter Defibrillators (WCDs)

By End User-

• Hospitals
• Pre-Hospitals
• Public Access Market
• Alternative Care
• Home
• Others

 

By Region-

North America-

• The US
• Canada
• Mexico

Europe-

• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America-

• Brazil
• Argentina
• Rest of Latin America

 Middle East & Africa-

• GCC Countries
• South Africa
• Rest of Middle East and Africa

 

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