Defibrillators Market Set to Surge to $24.60 Billion by 2030 at a 6.6% CAGR
Defibrillators Market Size 2030
Focus on installation of public access defibrillator (PAD) by the public and private organizations, development of advanced defibrillator devices, and increase in incidence of cardiac diseases drive the growth of the global defibrillator market. Moreover, rise in adoption of technologically advanced defibrillator devices and rise in demand for quality medical care supplement the growth. However, surge in pricing pressure on market players restrains the market growth. On the other hand, advancements in the next-generation external defibrillators to improve safety and effectiveness present new opportunities in the coming years.
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Defibrillator is defined as a medical devices used to deliver therapeutic shock to a patient’s heart in life-threatening conditions, such as ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia. The defibrillation procedure encompasses delivery of an electric shock to the heart, which depolarizes heart muscles and restores its normal electric impulse. External defibrillators are life-saving medical devices used to deliver defibrillating shock through paddles or electrode pads to diagnose and restore life-threatening abnormal heart rhythms in the conditions of unexpected cardiac arrest.
The report offers detailed segmentation of the global defibrillator market based on product, end user, and region.
Based on product, the implantable defibrillators segment accounted for the highest share in 2020, contributing to more than half of the total share, and is projected to continue its lead position during the forecast period. However, the external defibrillators segment is expected to witness the highest CAGR of 7.0% from 2021 to 2030.
Based on end user, the hospital segment held the highest share in 2020, accounting for more than two-thirds of the total share of the global defibrillator market, and is projected to continue its leadership status during the forecast period. However, the alternative care segment is estimated to manifest the fastest CAGR of 8.8% from 2021 to 2030.
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Based on region, North America contributed to the highest share in 2020, accounting for around two-fifths of the total market share, and is expected to continue its dominance in terms of revenue by 2030. However, Asia-Pacific is estimated to portray the largest CAGR of 8.2% during the forecast period.
Leading players of the global defibrillator market analyzed in the research include Asahi Kasei Corporation, Biotronik SE & Co. KG, Stryker Corporation, Philips Healthcare, Boston Scientific Corporation, Medtronic plc, LivaNova PLC, Nihon Kohden Corporation, Cardiac Science Corporation, and St. Jude Medical, Inc.
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