The Global Market for Cardiac Defibrillators is Projected to Reach US$14.2 Billion by 2024
Rise in Incidence and Prevalence of Cardiac Diseases to Drive Demand
for Cardiac Defibrillators, According to a New Report by Global Industry Analysts,
Inc.
GIA launches comprehensive analysis of industry
segments, trends, growth drivers, market share, size and demand forecasts on
the global Cardiac Defibrillators market. The global market for Cardiac
Defibrillators is projected to reach US$14.2 billion by 2024, driven
by factors such as aging population, rise in prevalence of cardiac diseases, growing
inclination towards off-premises treatment, and favorable mandates and support
from governments in various countries.
Defibrillators are medical devices designed to regulate
abrupt cardiac arrests. These devices are
mainly used to detect and treat Sudden Cardiac Arrest (SCA) caused by
ventricular fibrillation, a condition in which the heart’s regular electrical
impulses become chaotic, making the heart to fibrillate. An aging global
population and rising incidence of various cardiovascular diseases are the
major driving forces for the global cardiac defibrillators market. Growth in
the cardiac defibrillators market is also driven by the introduction of newer,
advanced technologies and growing trends towards remote patient monitoring. Falling
prices of cardiac defibrillators, including implantable cardiac defibrillators,
is expected to play an important role in driving adoption.
Implantable/Internal
cardioverter defibrillators (ICDs) represent the largest segment of the global
defibrillators market. A major
advancement in the ICD market is the development of subcutaneous and
percutaneous implantable cardioverter defibrillators that negates the need for
using leads. Among the other developments is introduction of MRI-compatible
ICDs which allow patients with ICDs to undergo an MRI examination without the
fear of any adverse events. Manufacturers are also working on development of advanced
ICDs with innovative algorithms that would prevent inappropriate shocks. Growth of the external defibrillators market is primarily
driven by growing significance of Public Access Defibrillation and rise in deployment of
AEDs at places with a high likelihood of Out-of-hospital cardiac arrest (OHCA).
In order to meet the growing demand for easy access to defibrillators,
companies are focused on development of small compact and inexpensive
defibrillators. Another notable development in the defibrillators market is
that of wearable defibrillators that are considered to be an effective
alternative to surgically implanted devices in individuals with ventricular
arrhythmias or for temporary use in situations where ICD implantation is
deferred.
As stated by the new market research report on Cardiac Defibrillators, the United States represents the largest market worldwide. Asia-Pacific
is forecast to emerge as the fastest growing market with a CAGR of 7.9% over
the analysis period. The growth in the region is driven by the rapidly
developing healthcare infrastructure, rise in number of individuals with
cardiac disorders, an untapped patient population, and growing emphasis on introduction
of emergency backup services in hospitals, particularly in the private sector.
Major players in the market include Abbott
Laboratories, Biotronik GmbH & Co. KG, Boston Scientific Corporation,
Cardiac Science Corporation, GE Healthcare Ltd., Medtronic, Inc.,
Physio-Control Inc., Philips Healthcare, St. Jude Medical Inc., and Zoll
Medical Corporation, among others.
The research report titled "Cardiac Defibrillators: A
Global Strategic Business Report" announced by Global Industry Analysts, Inc.,
provides a comprehensive review of market trends, drivers, mergers,
acquisitions and other strategic industry activities. The report provides
market estimates and projections for geographic markets such as the US, Canada,
Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe),
Asia-Pacific, Middle East & Africa, and Latin America. The report also
analyzes the global market for Cardiac Defibrillators by product segments such
as Implantable/Internal Cardiac Defibrillators and External Cardiac
Defibrillators.
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enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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