Research report presented by UnivDatos, Emphasis on Product Type [Implantable Cardioverter Defibrillators (Subcutaneous Implantable Cardioverter Defibrillators, Transvenous Implantable Cardioverter Defibrillators), External Defibrillators (Manual & Semi-Automated External Defibrillators, Fully Automated External Defibrillators, Wearable Cardioverter Defibrillators)], End-Users (Hospitals, Clinics, & Cardiac Centres, Pre-Hospital Care Settings, Public Access Market, Alternate Care Market, Home Care Settings), and Geographical analysis (key regions and countries).
As per the research report, Global Defibrillators Market is expected to reach the market valuation of US$ 15.5 billion by 2027 expanding at a reasonable CAGR of 5.3% during the forecast period (2021-2027) from US$ 10 billion in 2019.
The global defibrillator demand is growing due to favourable legislation policies by developing country governments, such as the United States and the United Kingdom, which have required the implementation of defibrillators in public places such as classrooms, government buildings, and institutes. In the United Kingdom, about 80% of hospital heart arrests occur at home, with the remaining 20% occurring in public buildings.
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Furthermore, the market for defibrillators is increasing due to an increase in the incidences of spontaneous cardiac arrest caused by diseases such as ischemic heart disease, dilated cardiomyopathy, hypertrophic cardiomyopathy, arrhythmia, congenital heart disease, and myocarditis. Per year, almost 30,000 hospital cardiac arrests occur in the United Kingdom. In addition, as end-user understanding of defibrillator care and usage grows across the world, demand has increased. According to a survey, 90-95 percent of Sudden Cardiac Arrest patients will die if they are not treated right away.
Furthermore, one of the leading causes of the increasing incidences of sudden cardiac arrest is a sedentary lifestyle and an ageing population that is more susceptible to the disease. According to the American Heart Association, a coronary incident occurs every 25 seconds in the United States. Furthermore, healthcare professionals have advised 56 percent of people in the United States to improve their fitness, and 99 percent of Americans need to improve their heart health.
Governments around the world are increasing their investments in healthcare, resulting in better healthcare facilities, the deployment of required medical devices in public areas, and so on. According to the OCED, the US government spent USD 8,032.6 per capita in 2015, which increased to USD 9,386.5 per capita in 2019. In the United Kingdom, the government spent USD 3,043.6 per capita in 2015, which increased to USD 3,619.5 per capita in 2019.
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In addition, organisations in various countries are taking a variety of steps to expedite the delivery of defibrillators. In Sweden, a transportation department is testing a scheme that will use a drone to carry AEDs.
Insights Presented in the Report
“Amongst product type, implantable cardioverter defibrillators segment holds the major share”
The market is divided into implantable cardioverter defibrillators and external defibrillators based on device form. Because of expanded customer understanding about the need for defibrillators and the introduction of newer-generation ICDs, the implantable cardioverter defibrillators segment led the market with a share of 67.2 percent in 2019 and is projected to continue its dominance throughout the forecast period.
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“Amongst implantable cardioverter defibrillators type, transvenous implantable cardioverter defibrillators is expected to dominate the market during the analyzed period”
Subcutaneous Implantable Cardioverter Defibrillators and Transvenous Implantable Cardioverter Defibrillators are the two types of implantable cardioverter defibrillators in the sector. Transvenous Implantable Cardioverter Defibrillators (TICDs) dominated the industry in 2019, accounting for 83.8 percent of total sales. Incidences of SCA are the, as is the prevalence of CVDs, resulting in a rising market for Transvenous Implantable Cardioverter Defibrillators. Furthermore, during the forecast span of 2021-2027, the Subcutaneous Implantable Cardioverter Defibrillators market is projected to rise at a CAGR of more than 2%.
“North America represents one of the largest markets of the defibrillator market”
A quantitative study of the defibrillator market trends was performed for various regions around the world, including North America (the United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and the Rest of APAC), and the Rest of the World. Because of increased healthcare IT spending in countries such as the United States and Canada, North America led the industry and delivered revenue of US$ 3.8 billion in 2019. Furthermore, the region's dominance is due to the participation of long-established players as well as the new technologically updated goods and services.
The Defibrillator Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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