The defibrillator is a device that sends electrical energy, or shock, to the heart. The major goal of using a defibrillator is to treat cardiac arrest. In the emergency treatment for ventricular fibrillation and other life-threatening arrhythmias (abnormal heartbeats), defibrillators are being used. Proliferating incidence of sudden cardiac arrest coupled with the rise in the patients related to cardiovascular disease across the globe is resulting in the demand for defibrillators. As per the World Health Organization (WHO), disease-related to cardio is the leading cause of death worldwide. Every approximately 17.9 million deaths happen due to CVDs every year. Also, in one year alone, 475,000 Americans die from a cardiac arrest and 30,000 Hospital Cardiac Arrests occur every year in the UK. Also, it was found that sudden cardiac death (SCD) accounts for up to 20% of deaths in Western societies and Without immediate treatment, 90-95% of sudden cardiac arrest victims die.
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Owing to a surge in the number of out of hospital cardiac arrest the government across countries has mandated the installation of a defibrillator in public places, As per the American Heart Association, over 356,000 out-of-hospital cardiac arrest incidences happened annually in the united states and approximately 90% of them are fatal. Also, Approximately 30,000 out of Hospital Cardiac Arrests occur every year in the UK and 270 children die in the UK every year after suffering a Sudden Cardiac Arrest at school.
Moreover, a rise in the geriatric population worldwide is leading to a demand for Defibrillators. As per the United Nations, there were 703 million persons aged 65 years or over in the world in 2019 and the number of older persons is projected to double to 1.5 billion in 2050. As per a conducted by the U.S. National Library of Medicine National Institutes of Health at the incidence of sudden cardiac arrest markedly increases with age, from 100 per 100,000 for 50‐year‐old patients to 800 per 100,000 for 75‐year‐old patients in Chicago, USA.
The changing lifestyle coupled with the busy and hectic lifestyle has led to the adoption of a sedentary lifestyle, due to which the prevalence of cardiovascular disease is on the rise. As per the American heart association, 99% of Americans need to improve their heart health, out of that 56% of adults have been told to improve their health. Therefore, with the growing awareness among end-users, the demand and deployment of defibrillators are on the rise. In a report, it was found that for every minute that goes by where a victim of Sudden Cardiac Arrest does not receive treatment, their chances of survival decrease by 10% while In the United Kingdom, the emergency services average response time to a cardiac event related incident in an urban area is 11 minutes. Therefore, the need for immediate treatment of the victim of sudden cardiac arrest is the key contributing factor to the growth of the market.
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Based on the product, the defibrillator market is bifurcated into implantable cardioverter defibrillators and external defibrillators. The implantable cardioverter defibrillators segment generated revenue of US$ 10.0 billion in 2019. The market for the implantable cardioverter defibrillators segment is expected to grow at a CAGR of 3.3% during the forecast period to reach a market valuation of US$ 9.0 billion by 2027. However, the external defibrillators market is expected to witness the highest CAGR growth during the forecast period 2021-2027.
Amongst implantable cardioverter defibrillators type, the market is fragmented into subcutaneous implantable cardioverter defibrillators and transvenous implantable cardioverter defibrillators. The transvenous implantable cardioverter defibrillators segment generated revenue of US$ 5.6 billion in 2019. The market is expected to grow at a CAGR of 3.5% during the forecast period to reach a market valuation of US$ 7.6 billion by 2027.
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Amongst the external defibrillators market, the market is fragmented into manual & semi-automated external defibrillators, fully automated external defibrillators, and wearable cardioverter-defibrillators. The fully automated external defibrillators segment generated revenue of US$ 1.5 billion in 2019. The market is expected to grow at a CAGR of 8.5% during the forecast period to reach a market valuation of US$ 3.0 billion by 2027.
Based on end-users, the defibrillator market is fragmented into hospitals, clinics, & cardiac Centers, Pre-hospital care settings, Public access market, Alternate care market, and Homecare settings. The Hospitals, clinics, & cardiac Centers segment generated revenue of US$ 8.8 billion in 2019. The market is expected to grow at a CAGR of 5.4 % during the forecast period to reach a market valuation of US$ 13.8 billion by 2027.
For a better understanding of the market penetration of global defibrillators, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and Rest of the World. North America constitutes a major market for defibrillators.
Some of the major players operating in the market include Koninklijke Philips N.V., Nihon Kohden Corporation, Progetti SRL, Schiller AG, ST. Jude Medical (Acquired By Abbott Laboratories), Zoll Medical Corporation (A Part of Asahi Kasei Corporation), Cardiac Science, Boston Scientific Corporation, Physio-Control (Part of Stryker Corporation), and Medtronic.
The global defibrillators market was valued at US$ 10.0 billion in 2019 and is projected to expand significantly with a CAGR of 5.2% from 2021 to 2027. The global defibrillator market is expected to witness a boost, owing to the adoption and advancement in technologies in the healthcare sector due to the surging number of patients across the globe coupled with the government’s mandate for the deployment of defibrillators.
Table of Contents
1 MARKET INTRODUCTION
1.1 Market Definitions
1.2 Objective of the Study
1.3 Limitation
1.4 Stake Holders
1.5 Currency Used in Report
1.6 Scope of the Global Defibrillator Market Study
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Research Methodology for the Global Defibrillator Market
2.1.1 Main Objective of the Global Defibrillator Market
3 INDUSTRY PERFORMANCE
4 EXECUTIVE SUMMARY
5 CUSTOMER SURVEY
6 COVID-19 IMPACT
7 MARKET INSIGHTS BY PRODUCT TYPE
7.1 Implantable Cardioverter Defibrillators
7.1.1 Subcutaneous Implantable Cardioverter Defibrillators
7.1.2 Transvenous Implantable Cardioverter Defibrillators
7.2 External Defibrillators
7.2.1 Manual & Semi-Automated External Defibrillators
7.2.2 Fully Automated External Defibrillators
7.2.3 Wearable Cardioverter Defibrillators
8 MARKET INSIGHTS BY END-USERS
8.1 Hospitals, Clinics, & Cardiac Centres
8.2 Pre-Hospital Care Settings
8.3 Public Access Market
8.4 Alternate Care Market
8.5 Home Care Settings
..…..continued
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