The market growth of the defibrillator market can be attributed to several factors, which has led to its wide-scale adoption. The incidences & prevalence of cardiac disorders, growing focus on providing public-access defibrillators and technological advancements in defibrillators are anticipated to further contribute to substantial market growth between 2019 and 2030. However, issues related to the use of implantable & automated external defibrillators and frequent product recalls are likely to restrain market growth to a certain extent.
Major Key Players of the Defibrillator Market are:
Boston Scientific, Koninklijke Philips N.V, ZOLL Medical Corporation, SCHILLER, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Medtronic, NIHON KOHDEN CORPORATION., Physio-Control, METsis Medikal Ltd., Metrax GmbH, among others.
To obtain better insights regarding the market scenario, prominent players are increasingly focusing on collaborative initiatives with several institutes, research centers, and companies. For instance, In December 2017, Zoll Medical Corp. and Myant, Inc. entered an exclusive strategic multi-year agreement to jointly develop technologies that will be leveraged in future generations of the Zoll LifeVest wearable defibrillator.
Incidences & prevalence of cardiac disorders coupled with increasing aging population is expected to boost the growth of the market. The prevalence of cardiovascular diseases has also increased in individuals below 35 years and Sudden Cardiac Arrest (SCA) is believed to be the major causes of death in younger population. Rising awareness about the cardiac diseases and growing demand for treatment of SCA is expected to support growth of the market over the forecast period.
The Defibrillator Market is segmented on the basis of Product, Applications and region.
Major Product of Defibrillator Market covered are:
- Implantable Cardioverter Defibrillator
- External Defibrillator
Major Applications of Defibrillator Market covered are:
- Hospitals
- Clinics, & Cardiac Centers
- Pre-Hospital Care Settings
- Home Care Settings
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