Global Defibrillators Market Projected to Reach USD 11.7 Billion by 2025
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By HospiMedica International staff writers Posted on 17 Mar 2020 |
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Image: Attractive opportunities in the global defibrillators market (Photo courtesy of MarketsandMarkets)
The global defibrillators market is projected to grow at a CAGR of 3.4% from USD 9.6 billion in 2019 to USD 11.7 billion by 2025, driven by the rising prevalence of target diseases, growing focus on providing public-access defibrillators, and training and awareness programs on defibrillators. Additionally, the emerging markets and the development of S-ICDs and MRI-compatible ICDs and CRT-Ds are expected to offer growth opportunities for the players in the defibrillators market. However, issues related to the use of implantable and automated external defibrillators, frequent product recalls, and lack of awareness about sudden cardiac arrest in the developing countries are expected to hinder the growth of the market during the forecast period.
These are the latest findings of MarketsandMarkets (Maharashtra, India), a market research and management consulting firm.
On the basis of type, the implantable cardioverter defibrillators (ICDs) segment held the largest share in the global defibrillators market in 2019. This was due to the development of technologically-advanced devices with extended longevity, rapid growth in the number of implant procedures, and increasing adoption of cardiac resynchronization therapy defibrillators (CRT-Ds) and S-ICD systems across the world.
On the basis of end users, the hospitals, clinics, and cardiac centers segment accounted for the largest share of the global defibrillators market in 2019 due to the growing number of cardiac implant procedures and availability of reimbursements across the developed markets.
Geographically, North America accounted for the largest share of the global defibrillators market in 2019 due to the rising geriatric population, increasing incidence of cardiac diseases, and technological advancements in the region. Increasing efforts by governments in the region to provide the necessary care to cardiac arrest victims at public places through public-access defibrillation programs have also increased the demand for defibrillators in North America.
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These are the latest findings of MarketsandMarkets (Maharashtra, India), a market research and management consulting firm.
On the basis of type, the implantable cardioverter defibrillators (ICDs) segment held the largest share in the global defibrillators market in 2019. This was due to the development of technologically-advanced devices with extended longevity, rapid growth in the number of implant procedures, and increasing adoption of cardiac resynchronization therapy defibrillators (CRT-Ds) and S-ICD systems across the world.
On the basis of end users, the hospitals, clinics, and cardiac centers segment accounted for the largest share of the global defibrillators market in 2019 due to the growing number of cardiac implant procedures and availability of reimbursements across the developed markets.
Geographically, North America accounted for the largest share of the global defibrillators market in 2019 due to the rising geriatric population, increasing incidence of cardiac diseases, and technological advancements in the region. Increasing efforts by governments in the region to provide the necessary care to cardiac arrest victims at public places through public-access defibrillation programs have also increased the demand for defibrillators in North America.
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