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Defibrillators Devices Market is Predicted to Grow at a CAGR of 3.10% and is Expected to Extend to USD 11.31 Billion by 2026, Asserts DelveInsight

·9 min read

Growing incidence of cardiac disorders, increase in investment and raising awareness of cardiovascular diseases as well as the entrance of key companies like Medtronic, Abbott, Boston Scientific Corporation, and others in the Defibrillators Devices Market act as major growth promoters in the upcoming years.

Las Vegas, USA, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Defibrillators Devices Market is Predicted to Grow at a CAGR of 3.10% and is Expected to Extend to USD 11.31 Billion by 2026, Asserts DelveInsight

Growing incidence of cardiac disorders, increase in investment and raising awareness of cardiovascular diseases as well as the entrance of key companies like Medtronic, Abbott, Boston Scientific Corporation, and others in the Defibrillators Devices Market act as major growth promoters in the upcoming years.

DelveInsight's Defibrillators Devices Market Insights and Forecast report provides the current and forecast Defibrillators Devices market, upcoming innovation in the devices, individual market shares of the devices, challenges, drivers and barriers, market trends, and key competitors in the Defibrillators Devices market.

Some of the essential takeaways from the Defibrillators Devices Market report:

  • According to DelveInsight analysis, North America is expected to dominate the overall Defibrillators Devices market during the forecast period.

  • Key pharma players working proactively in the Defibrillators Devices market include Medtronic, Abbott, Boston Scientific Corporation, Stryker; Koninklijke Philips N.V, Zoll Medical Corporation, Biotronik, Inc, Nihon Kohden Corporation and others.

  • As per an estimate by DelveInsight, Global Defibrillators Market was valued at USD 9.89 billion in 2020, growing at an escalated CAGR of 3.10% during the forecast period from 2021 to 2026, and is anticipated to reach USD 11.31 billion by 2026.

  • The demand for Defibrillators is primarily associated with the growing incidence of cardiac disorders, integration of advanced technology, increasing investments by government and private manufacturers, and rising awareness programs regarding cardiovascular disorders and usage of defibrillators, among others.

  • In July 2020, Phillips received 510(k) clearances from the FDA for its professional defibrillator (Tempus LS- Manual), offering its remote monitor and defibrillator solution (Tempus ALS) to EMS customers in the US.

  • In June 2020, ZOLL® Medical Corporation, an Asahi Kasei Group Company received premarket approval (PMA) for its ZOLL AED 3® defibrillator with enhanced real CPR help, integrated child rescue, and wireless connectivity. Thus, owing to the launch of such devices, there will be a rapid growth observed in the aaaDefibrillator market during the forecast period.

Interested in knowing how the Defibrillators Devices Market will be growing by 2026? Click to get a snapshot of Defibrillators Devices Market Analysis

Defibrillators Devices Market Overview

Defibrillators are devices that are used in delivering a therapeutic shock to the patient’s heart in life-threatening scenarios such as ventricular fibrillation, cardiac arrhythmia and pulseless ventricular tachycardia. Defibrillators are used for delivering an electric shock to the heart, which tends to depolarize the heart muscles and allows restoration of the normal electric impulse. They are used in the prevention or correction of cardiac arrhythmia, a heartbeat that is uneven or too slow or too fast. They also allow restoration of the heart’s beat if the heart tends to stop suddenly.

To pick on the latest highlights related to Defibrillators Devices get the snapshot of the key highlights entailed in the Defibrillators Devices Market report.

Defibrillators Devices Market Insight

Geographically, the global Defibrillators devices market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of revenue share North America currently leads the global market and is expected to remain constant during the forecast period. However, the supremacy of North America will be conspicuously challenged by the European market. This domination is attributed to the technologically advanced defibrillator devices, rising risk of cardiac-related disorders, collaboration, mergers, partnerships, product approvals and launches.

In the Defibrillators product type segment, ICD (Implantable Cardioverter Defibrillator) is expected to hold the largest share in the market as there are different types of ICDs such as one chambered, dual-chambered ICDs, subcutaneous ICDs, and magnetic resonance imaging (MRI)-safe ICDs available in the market. New product approval in the market by regulatory bodies is also expected to surge the market.

For instance, recently in the year 2018, Abbott received FDA approval for the MR-conditional labeling for the Quadra Assura MP CRT-D and Fortify Assura ICD. Moreover, the same company has received FDA clearance for MR-conditional labeling for one of the company's most widely used ICDs and associated high voltage leads — the Ellipse ICD.

Learn more about the Defibrillators Devices Market Landscape @ Defibrillators Devices Market Analysis

Defibrillators Devices Market Dynamics

The rising incidence of cardiovascular disease will lead to an increase in demand for defibrillators in the market, thereby leading to an increase in the overall defibrillator market growth. Launch of such technologically advanced devices, increasing awareness pertaining to the importance of good cardiac health, the Defibrillator market is expected to rise. The rapid technological innovation in the product line, favorable government regulation are some of the factors that are anticipated to push the defibrillators market in the coming years. The external Defibrillator market is also projected to show lucrative growth in the forthcoming period.

The market for Defibrillators Devices had observed a period of reduced growth owing to the outbreak of COVID-19. Additionally, patient visits to the hospitals were also reduced as that increased the chances of COVID-19 infection among the patients and hospital staff, therefore any implantable procedures were also temporarily halted.

However, currently hospitals and other medical facilities have started operating at their normal rate with strict precaution and resumed the patient visit for other diseases also. Owing to the increased availability of defibrillators that are technologically advanced, the demand for such defibrillators is expected to rise in the market, further leading to an increase in the overall defibrillator devices market growth during the forecast period.

Know more about which MedTech player is set to emerge as the trendsetter @ Defibrillators Devices Market Landscape Analysis

Scope of the Defibrillators Devices Market Report

Study Period: 2018-2026

Key Companies: Medtronic, Abbott, Boston Scientific Corporation, Stryker; Koninklijke Philips N.V, Zoll Medical Corporation, Biotronik, Inc, Nihon Kohden Corporation

Defibrillators Devices Market Segmentation

By Product Type

  • Implantable Cardioverter Defibrillator

  • Single Chamber ICD

  • Dual-Chamber ICD

  • CRT-D

  • Subcutaneous ICD (S-ICD)]

  • External Defibrillator

  • Semi-Automated

  • Automated

  • Wearable

By End-User

  • Hospitals

  • Ambulatory Surgical Centers

  • Homecare Settings

  • Others

By Geography

  • North America

  • Europe

  • Asia-Pacific

  • Rest of the World (Middle East, Africa, and South America)

Delveinsight Analysis: The Defibrillators Devices market is expected to grow at a CAGR of 3.10% and will reach USD 11.31 billion by 2026.

Table of Contents

1

Defibrillators Devices Market Report Introduction

2

Defibrillators Devices Market Executive summary

3

Regulatory and Patent Analysis

4

Defibrillators Devices Market Key factors analysis

5

Defibrillators Devices Porter’s Five Forces Analysis

6

COVID-19 Impact Analysis on Defibrillators Devices Market

7

Defibrillators Devices Market layout

8

Defibrillators Devices Global Company Share Analysis – Key 3-5 Companies

9

Defibrillators Devices Company and Product Profiles

9.1 Abbott
9.2 Medtronic
9.3 Boston Scientific Corporation
9.4 Stryker
9.5 Koninklijke Philips N.V
9.6 Zoll Medical Corporation
9.7 Microport Scientific Corporation
9.8 LivaNova PLC
9.9 Biotronik, Inc.
9.10 Nihon Kohden Corporation
9.11 SCHILLER AG
9.12 Bexen Cardio
9.13 Progetti S.r.l.
9.14 BPL Medical Technologies
9.15 Shenzhen Comen Medical Instruments Co., Ltd.

10

Project Approach

11

KOL Views

12

DelveInsight Capabilities

13

Disclaimer

14

About DelveInsight

Learn more about the report offerings @ Defibrillators Devices Market Outlook

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