Albany, NY — 05/18/2018 — According to a recent market research report published by Transparency Market Research, the global defibrillators market is estimated to expand at a CAGR of 6.2% during the period between 2013 and 2019. The report, titled “Defibrillators Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” projects the global defibrillators market to be worth US$14.2 bn by 2019. The overall market stood at a valuation of US$9.3 bn in 2012.
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Defibrillators play an important role in cardiac arrhythmia and let natural pacemaker cells re-establish the normal cardiac rhythm. Changes in lifestyle and food habits have led to an increase in the prevalence of various cardiac disorders resulting in sudden cardiac arrest and death. In sudden cardiac arrest, ventricular fibrillation leads to heart muscles beating irregularly. Cardiopulmonary resuscitation (CPR) alone cannot provide effective results in these cases and hence, defibrillators are needed.
The report points out that the growing prevalence of cardiovascular disorders and awareness campaigns for automated external defibrillators (AEDs) have augmented the growth of the global defibrillators market. Technological advancements and government initiatives have further fuelled the demand for defibrillators. However, the lack of awareness about sudden cardiac arrests and frequent recalls of faulty defibrillators will play spoilsport in the growth of the market during the forecast period. The overall market has a huge opportunity to grow across emerging economies.
On the basis of type of defibrillators, the report segments the global defibrillators market into automated external defibrillators (AEDs), advanced life support (ALS) defibrillators, wearable defibrillators, and implantable cardioverter defibrillators (ICD). The implantable defibrillators devices segment held the majority of the market in 2012, followed by advanced life support defibrillators. The high demand for ICDs can be attributed to the rise in ICD implantations as a precautionary measure towards the prevention of sudden cardiac arrests.
In terms of end users, the report categorizes the global defibrillators market into home, hospitals, emergency medical services, and public access. Hospitals account for over 90% of the total market revenue. During the forecast horizon, the rise in the number of AED installations at hospitals and business workplaces is expected to boost the overall market.
The report studies the defibrillators market across five key regions: Europe, North America, the Middle East, Asia Pacific, and Latin America. North America has been the leading region in the market and is anticipated to expand at a CAGR of 5.7% during the forecast horizon. Asia Pacific and the Middle East are expected to grow significantly in the coming years.
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Some of the key players in the global defibrillators market are Zoll Medical Corporation, St. Jude Medical Inc., Schiller AG, Sorin Group, Philips Healthcare, Physio-Control Inc., Mindray Medical International Ltd., Nihon Kohden Corporation, HeartSine Technologies Inc., Medtronic Inc., Defibtech LLC, GE Healthcare, Biotronik SE & Co. KG, and Boston Scientific Corporation. The report further provides detailed information about the key players including their product portfolio, business strategy, financial overview, and recent developments. For the benefit of new entrants in the global defibrillators market, the report provides recommendations such as expansion of business in emerging markets in Asia Pacific and Latin America, continuous product development to assure efficacy, and creating awareness about sudden cardiac arrests.
About Transparency Market Research
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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