Defibrillators Market is expected to garner $15,610 million by 2022 with a CAGR of 6.5% during the forecast period 2014-2022. Defibrillators are devices used to deliver therapeutic shock to a patient’s heart in life-threatening conditions such as ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia.
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Advanced defibrillator devices, rapidly growing geriatric population with elevated risk of targeted diseases, and increasing incidence of cardiac diseases among all ages are further driving the market growth. However, product failures and recalls, increasing pricing pressure on players and lack of awareness about sudden cardiac arrest (SCA) are restraining the growth of this market.
The global defibrillators market is segmented based on product, end-user, and geography. Implantable cardioverter-defibrillator (ICDs) and external defibrillators are two major product categories of defibrillators.
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ICDs are further categorized into cardiac resynchronization therapy - defibrillator (CRT-D), transvenous implantable cardioverter defibrillator (T-ICDs) and subcutaneous implantable cardioverter defibrillator (S-ICDs).
The increase in adoption of technologically advanced defibrillators, growing demand for quality medical care, high incidences of SCA, and cardiovascular diseases are the drivers of growth. In addition, the increasing focus of public & private organizations and key market players on public access defibrillators and an increase in number of training & awareness programs across the globe are a few more factors driving the growth of this industry.
However, the weak reimbursement scenario for defibrillation procedures, lack in advanced healthcare infrastructure, low awareness among physicians & patients about different treatment devices, and high cost of these devices are impeding the growth of the defibrillators market in these countries.
The report provides a comprehensive analysis of the key players operating in the world defibrillators market, such as Asahi Kasei Corporation, Stryker Corporation, Biotronik SE & Co. KG, Boston Scientific Corporation, Philips Healthcare, LivaNova PLC, Medtronic plc, Cardiac Science Corporation, Nihon Kohden Corporation, and St.
Jude Medical, Inc.
The increasing installations of public access AEDs, growing incidence of cardiovascular diseases, and growing awareness regarding the lifesaving potential of AEDs have fueled the market growth. The second-largest market of external defibrillators is covered by manual external defibrillators followed by wearable external defibrillators.
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