Defibrillator market to reach $15.6 billion globally by 2022: Allied Market Research

Defibrillator market to reach $15.6 billion globally by 2022: Allied Market Research

Press releases may be edited for formatting or style | August 18, 2016
PORTLAND, Oregon, August 18, 2016 /PRNewswire/ -- A new report published by Allied Market Research, titled, "Defibrillators Market by Product and End User - Global Opportunity Analysis and Industry Forecast, 2014 - 2022", projects that the global defibrillators market would reach $15,610 million by 2022. Implantable cardioverter defibrillators (ICDs) segment is expected to dominate this market throughout 2015 and 2022. North America would continue to lead, accounting for more than two-fifths share of the world defibrillator market in 2015.

Advent of automated external defibrillators (AEDs) for public access places, rising incidences of sudden cardiac arrest, and growing awareness towards public access defibrillators worldwide are the factors majorly driving the market growth. The rising number of application areas for defibrillators, coupled with increasing adoption of defibrillator systems (both ICDs and external defibrillators) in cardiology, is expected to boost the world defibrillators market growth. Cost-effectiveness, safety, high accessibility, and clinical value in preliminary treatment of sudden cardiac arrest strengthen the technological advancements in this market. In addition, increase in number of advanced implantable cardiac defibrillators (S-ICDs, T-ICDs, and CRT-D) and awareness about early treatment of life threatening cardiac diseases (such as cardiac arrhythmia, ventricular fibrillation, and sudden cardiac arrest) are anticipated to further drive the demand for defibrillators globally. However, unawareness, unfavorable healthcare reforms, certain issues related to (external and implantable) defibrillators are the limitations that restrict the market growth.

Sample of the Defibrillator Market Report can be accessed on Website https://www.alliedmarketresearch.com/defibrillator-market

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The transvenous-implantable cardioverter defibrillator (T-ICDs) segment accounted for about 95% of the overall ICD market in 2015, as these are the most commonly used ICD's for the treatment of heart disorders for higher precision and targeted functioning. In addition, cardiac resynchronization therapy defibrillator (CRT-D) is the fastest growing segment and is projected to register a CAGR 5.0% during the forecast period. This is due to the growing demand of defibrillator that helps in restoring the heart back to a normal pace from faster heart rhythms and to prevent the heart rate to go below normal levels.

Automated external defibrillator (AEDs) segment is projected to maintain its lead in the overall external defibrillators market due to its increasing installations at public or private places such as schools, work place, airports, sports arenas, government offices, and others. The growing demand of AEDs in the developed economies of North America and Europe have further boosted the market growth. Furthermore, wearable external defibrillator is anticipated to exhibit the highest growth, with a CAGR of 12.3% during the forecast period. This is owed to the advanced protection by these defibrillators for sudden cardiac arrest and increase in demand from home healthcare facilities.

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