DUBLIN–(BUSINESS WIRE)–Jan 29, 2021–
The "Defibrillator Market – Growth, Trends, and Forecasts (2020 – 2025)" report has been added to ResearchAndMarkets.com’s offering.
The growth of the defibrillator market can be attributed to factors, such as technological advancements in the field of defibrillators and training and awareness programs for defibrillators. Recently, in 2020, Abbott Laboratories received a CE mark for its product "Gallant". It is an implantable cardioverter defibrillator (ICD) used in the prevention of sudden cardiac rhythm. Furthermore, the growing burden of cardiovascular diseases is expected to impact market growth.
- Abbott Laboratories
- Boston Scientific Corporation
- Cardiac Science Corporation
- Defibtech LLC
- Koninklijke Philips NV
- LivaNova PLC
- Medtronic PLC
- Nihon Kohden Corporation
- Physio-Control Inc.
- ZOLL Medical Corporation
Key Market Trends
Implantable Cardioverter Defibrillator (ICD) Spearheaded the Market Studied
The implantable cardioverter defibrillator (ICD) segment accounted for the largest share in the global market. The ICDs are of three major types, namely transvenous ICDs, subcutaneous ICDs, and CRT with pacemaker and ICD function.
- The transvenous and subcutaneous ICDs are expected to exhibit the fastest growth rate over the forecast period, owing to the rising technological advancements, increasing R&D, and benefits associated with these ICDs. According to the European Heart Journal, 2019, implantable cardioverter-defibrillator (ICD) is considered as an important device for the treatment of sudden cardiac death (SCD) prevention and ventricular tachyarrhythmias.
- Moreover, according to the Australian Institute of Health and Welfare, in 2017, approximately 4,578 people died, due to heart failure and cardiomyopathy. Hence, the growing morbidity and mortality of cardiovascular diseases and the efficacy of these devices to manage arrhythmias for a prolonged period are expected to drive the segment’s growth, over the forecast period.
North America is Expected to Dominate the Market Studied
In North America, the United States is expected to hold the major market share. This is mainly due to factors, such as increasing number of diseases.
- Cardiovascular diseases, listed as the underlying cause of death, account for nearly 836,546 deaths (about 1 of every 3 deaths) in the United States. The increasing prevalence of cardiovascular diseases in the region is expected to drive the market growth, over the forecast period.
- In 2017, the Department of Health and Human Services (HHS), along with a number of public and private partners, launched the Million Hearts initiative that aims to prevent one million heart attacks and strokes.
- According to the American Heart Association’s research program, cardiovascular diseases are listed as the primary cause of deaths and accounted for nearly 836,546 deaths in the United States. The deaths related to cardiovascular diseases are higher when compared to deaths related to all forms of cancer and chronic lower respiratory diseases combined.
- Therefore, the aforementioned factors are expected to boost the market growth.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Cardiovascular Diseases
4.2.2 Technological Advancements in the Field of Defibrillators
4.3 Market Restraints
4.3.1 High Costs of Defibrilators
4.3.2 Stringent Regulatory Framework
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Implantable Cardioverter Defibrillator (ICD)
220.127.116.11 Transvenous Implantable Cardioverter Defibrillator (T-ICDs)
18.104.22.168 Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs)
22.214.171.124 CRT with Pacemaker and ICD Function (CRT-D)
5.1.2 External Defibrillator (ED)
126.96.36.199 Automated External Defibrillator (AEDs)
188.8.131.52.1 Semi-automated External Defibrillators
184.108.40.206.2 Fully-automated External Defibrillators
220.127.116.11 Manual External Defibrillator
18.104.22.168 Wearable Cardioverter Defibrillators (WCDs)
5.2 By End User
5.2.2 Emergency Care
5.2.3 Home Care
5.2.4 Other End Users
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
5.3.5 South America
126.96.36.199 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES CARDIOLOGY
SOURCE: Research and Markets
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PUB: 01/29/2021 12:20 PM/DISC: 01/29/2021 12:20 PM