External Defibrillator Market By Product Type (Automated External Defibrillators, Wearable Cardioverter Defibrillator, and Manual External Defibrillators), By End User (Hospital, Prehospital, and Others), and Region - Global Forecast to 2027
The global external defibrillator market is estimated to be valued at around US$ 0.05 Bn in 2019, and is expected to register a CAGR of 6.1%. The report offers in-depth insights, revenue details, and other vital information regarding the global external defibrillator market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report also offers insightful and detailed information regarding the various key players operating in the global external defibrillator market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global external defibrillator market is segmented on the basis of product type, end user, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Defibrillator devices are used to deliver therapeutic shock to patient’s heart in severe conditions such as ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia. The defibrillation procedure includes delivery of electric shock to patients’ heart, which depolarizes heart muscles and restores its normal electric impulse.
Global External Defibrillator Market: Dynamics
Increasing incidence and prevalence of life style diseases, such as cardiac disorder, resulted into increasing incidence of Non Communicable Diseases (NCD), coupled with increasing aging population is expected to bolster demand for treatment of such diseases and conditions over the forecast period.
Increasing awareness about the disease and rising demand for treatment of SCA is expected to support growth of the market over the forecast period.
SCA is a condition in which the heart suddenly and unexpectedly stops beating. This is triggered by electrical malfunction in the heart that causes an irregular heartbeat. In which, the heart can’t send blood to the brain, lungs, and other organs.
Technological advancements and increasing R&D activities by leading players, is expected to create new opportunities in terms of revenue in the target market over the forecast period
Manufacturers operating in the target market are focusing towards launching technologically advanced and innovative external defibrillators in order to gain competitive edge, is also anticipated to propel demand for cardiovascular devices
In April 2017, Physio-Control, Inc., which is a US-based company develops, manufactures, sales, and services of external defibrillators or monitors, and emergency medical response products and services received US Food and Drug Administration Premarket Approval (PMA) for the company’s HeartSine Samaritan PAD 360P (SAM 360P) – fully automatic external defibrillator for sale in the US.
In April 2014, Boston Scientific Corporation, which is a US-based company develops, manufactures, and markets medical devices for use in various interventional medical specialties – received FDA approval for its latest generation of defibrillators and heart failure devices designed to advance patient care. The newly approved devices includes DYNAGEN MINI and INOGEN MINI ICDs, as well as DYNAGEN X4 and INOGEN X4 CRT-Ds.
Public access defibrillation programs deploy automated external defibrillators for bystander use in an emergency situation, reduce time to defibrillation, and improves survival rates which is expected to increase growth of the global external defibrillators market over the forecast period
For instance, the Minnesota Department of Health and the American Heart Association-Minnesota (AHA) encouraged and promoted community awareness of potential for saving lives of sudden cardiac arrest victims by using CPR (cardiopulmonary resuscitation) and increased public access to defibrillation.
However, lack of awareness regarding sudden cardiac arrest and increasing product recalls are major factors hamper growth of the market to certain extent
Market Analysis by Product Type:
On the basis of product type segmentation, the automated external defibrillators segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The automated external defibrillators segment is expected to witness highest CAGR of over 6%.
Market Analysis by End User:
On the basis of end user segment, the hospital segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The hospital segment is expected to witness highest CAGR of over 6% during the forecast period.
Market analysis by region:
North America market dominates the target market, owing to increasing incidence of sudden heart attack, coupled with non-invasive nature and increasing demand of home healthcare for the treatment of sudden cardiac arrest among individuals in countries in the region.
Also, increasing presence of advanced research facilities in the US coupled with key manufacturers focusing on development of advanced external defibrillator devices are some of the other factors projected to propel growth of the North America market to a significant extent over the next 10 years
Increasing government initiatives for spreading awareness about external defibrillator, coupled with favorable reimbursement policies in countries in the region, is also expected to drive growth of the North America market over the forecast period
Asia Pacific market is anticipated to contribute significant share in the global market. This can be attributed to increasing incidence of heart attacks, presence of large patient pool suffering from cardiovascular diseases, and increasing government initiatives for healthcare infrastructure development, especially in emerging economies such as China and India.
In addition, increasing investment by governments and private organizations in emerging economies, especially China and India, for development of proper healthcare facilities in order to provide cost-effective medical treatment, are other major factors driving demand for advanced medical equipment and systems, which in turn is expected to fuel growth of the Asia Pacific external defibrillator market
Global External Defibrillator Market Segmentation, by Product Type:
- Automated External Defibrillators
- Wearable Cardioverter Defibrillator
- Manual External Defibrillators
Global External Defibrillator Market Segmentation, by End User:
- Public Access Market
- Alternate Care Market
- Home Healthcare
Global External Defibrillator Market Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Cardiac Science Corporation
- Koninklijke Philips N.V.
- Mindray Medical International Limited
- LivaNova PLC
- ZOLL Medical Corporation
- Nihon Kohden Corporation
- Schiller AG
- HeartSine Technologies LLC
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.0 Chapter 2
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Product Type
- 2.2.2 Market Snapshot, By End User
- 2.2.3 Market Snapshot, By Region
- 2.2.4 Opportunity Map Analysis
- 2.1 Report Description
- 3.0 Chapter 3
- 1.0 Chapter 1
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