Defibrillator

Defibrillator market size was valued at $13,168 million in 2020, and is projected to reach $24,608.3 million by 2030, registering a CAGR of 6.6%

PORTLAND, OREGON, UNITED STATES, March 14, 2022 /EINPresswire.com/ -- Increase in incidences of sudden cardiac arrest (SCA) and technological advancements drive the growth of the global defibrillators market. However, high cost and unfavorable reimbursement policies restrain the market growth. On the other hand, increase in demand for ICDs for patients with nonischemic cardiomyopathy presents new opportunities in the coming years.

According to the report published by Allied Market Research, the global defibrillator market size was valued at $13,168 million in 2020, and is projected to reach $24,608.3 million by 2030, registering a CAGR of 6.6% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Advent of automated external defibrillators (AEDs) for public access places, rising incidences of sudden cardiac arrest, and growing awareness towards public access defibrillators worldwide are the factors majorly driving the market growth. The rising number of application areas for defibrillators, coupled with increasing adoption of defibrillator systems (both ICDs and external defibrillators) in cardiology, is expected to boost the world defibrillators market growth. Cost-effectiveness, safety, high accessibility, and clinical value in preliminary treatment of sudden cardiac arrest strengthen the technological advancements in this market. In addition, increase in number of advanced implantable cardiac defibrillators (S-ICDs, T-ICDs, and CRT-D) and awareness about early treatment of life threatening cardiac diseases (such as cardiac arrhythmia, ventricular fibrillation, and sudden cardiac arrest) are anticipated to further drive the demand for defibrillators globally. However, unawareness, unfavorable healthcare reforms, certain issues related to (external and implantable) defibrillators are the limitations that restrict the market growth.

Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “growing incidence of sudden cardiac arrest (SCA) and cardiovascular diseases across the globe, technological advancements in defibrillators, increase in awareness about defibrillator among physician and general public, and high presence of unmet medical needs drive the growth of the defibrillator market..”

Covid-19 Scenario

The Covid-19 infection impacts the cardiovascular system. It leads to myocardial injury, arrhythmias, intravascular thrombosis, and sudden cardiac death. As reports have found the link between Covid-19 activity and cardiac arrests, the demand for implantable defibrillators increased during the pandemic.

The cases of sudden cardiac arrest (SCA) in Covid-19 patients increased and raised concerns for clinicians. The episodes of defibrillator shocks increased during the hospitalization of patients suffering from Covid-19 infection. This, in turn, led to increased demand for implantable defibrillators.

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North America garnered a major share of the electrophysiology market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in prevalence of cardiac arrhythmia, increase in number of geriatric population, and strong presence of key players. However, Asia-Pacific is expected to register highest CAGR of 8.2% from 2021 to 2030, owing to increase in prevalence of atrial fibrillation, advancements in technology in the field of defibrillator, and initiatives taken by governments to enhance healthcare infrastructure

Leading Market Players

Abbott
Biotronik SE & Co. KG
Boston Scientific Corporation
Fukuda Denshi Co. Ltd.
Imricor Medical Systems
Koninklijke Philips N.V.
LivaNova Plc Company
Medtronic Plc
Microport Scientific Corporation
Nihon Kohden Corporation

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

David Correa
Allied Analytics LLP
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