Global Defibrillator Market's Growth Trajectory: Aiming for a Solid 7% CAGR

 

Increased public knowledge of AEDs, growing rates of cardiovascular illness, technical developments in devices by large corporations, and encouraging programs from governments and healthcare groups are some of the drivers driving the market. Please submit a brief question for a sample report to find out more about the research.

Defibrillators are devices that seek to restore a normal heartbeat by providing an electric charge to the heart. A defibrillator can play a crucial role in reviving a person experiencing cardiac arrest, often known as sudden cardiac arrest (SCA). Unless urgent care is provided by CPR (cardiopulmonary resuscitation) and the use of a defibrillator, sudden cardiac arrest is usually deadly. 

There are three main types of defibrillators: 

·        Automated External Defibrillators (AEDs) - AEDs are commonly present at public places, can be utilized by anyone to save lives during cardiac arrest

·        Implanted Cardioverter Defibrillators (ICDs) - ICDs are chest-implanted devices, that automatically detect and address cardiac arrest or severe arrhythmias by delivering a strong electric charge.

·        Wearable Cardioverter Defibrillators (WCDs) - WCDs take the form of vests equipped with rechargeable batteries. Analogous to the ICD, they autonomously identify life-threatening rhythms and administer an electric charge to reinstate a normal rhythm.

Market participants' introduction of cutting-edge goods to spur expansion

The market is expected to rise as a result of the creation of cutting-edge products to meet the rising demand for defibrillators. Constant improvements in defibrillator technology have made it possible to create effective machines that, among other things, are MRI-compatible, have longer-lasting batteries, are smaller, and have Bluetooth. Major companies are always concentrating on investing in research efforts for new product development and increasing their geographic reach to enhance their positions in this market since such advances tend to provide manufacturers a competitive edge. For example

·       In February 2023, Medtronic received the CE mark for its Aurora EV-ICD MRI SureScan implantable defibrillator system and Epsila MRI SureScan, designed for the treatment of irregular heart rhythm

·       In May 2022, MicroPort CRM received approval from China’s National Medical Products Administration (NMPA) for its Platinium implantable cardioverter defibrillator (ICD), with an expected lifespan of 13-14 years reducing the risks associated with frequent replacements

·       Zoll Medical Corporation introduced a novel remote view technology feature for its X Series monitor/defibrillator in July 2020, thereby augmenting its product lineup

·       In July 2021, Jeevtronics Pvt Ltd introduced the SanMitra 100 HCT, a hand-cranked dual-powered defibrillatorsuitable for use in electricity-unavailable areas.

·       In September 2019, Shenzhen Mindray Bio-medical Electronics Co. Ltd. introduced the BeneHeart C Series AED, designed to enhance resuscitation outcomes during sudden cardiac arrest (SCA). This device features ResQNavi technology, providing users with step-by-step guidance through the rescue process via animated visuals and voice prompts.

Global Surge in Cardiovascular Diseases Fuels Demand for Defibrillators 

One of the main factors driving the defibrillator market is the increase in cardiovascular illnesses. The global prevalence of major heart disorders, such as coronary (ischemic) heart disease, peripheral arterial (vascular) disease, stroke, and atrial fibrillation, was found in statistics released by the British Heart Foundation (BHF) in January 2022. Major heart-related illnesses are thought to affect 46 million individuals in North America, 99 million in Europe, 58 million in Africa, 32 million in South America, and 310 million in Asia and Australia. Furthermore, the WHO reports that 32% of all fatalities worldwide  i.e., 17.9 million people die due to CVD every year. As per European Heart Network, CVDs account for over 3.9 million deaths every year in the European region, out of which over 1.8 million deaths occur in the European Union (EU).  

Moreover, behavioral risk factors for heart disease and stroke include a sedentary lifestyle, poor food, tobacco use, excessive alcohol intake, and physical inactivity. In addition to increasing blood pressure and blood sugar, these variables also lead to overweight and obesity in humans, which increases the total burden of CVDs. Furthermore, a major factor in the high incidence of CVDs is the growing elderly population, which is more vulnerable to heart abnormalities as a result of the heart's structure and function gradually deteriorating. A large number of cardiovascular disorders are expected to occur, which will increase demand for defibrillators. Due to their critical function in restoring oxygen and blood flow to important organs after abrupt cardiac arrest, these devices are expected to witness significant expansion in the market. 

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Global Defibrillator Market Key Players 

Some of the key players operating in the market include Medtronic, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Abbott, MicroPort Scientific Corporation, Stryker, ZOLL Medical Corporation (Asahi Kasei), Koninklijke Philips N.V, Nihon Kohden Corporation, Progetti Srl, Schiller AG, AXION Ltd., METsis Medikal, and Mediana Co. Ltd., among others.

Players Use Both Organic and Inorganic Growth Strategies to Gain Footing in the Market

The market participants are employing both organic and inorganic growth tactics, such as securing regulatory permissions and pursuing mergers and acquisitions, in order to improve their market standing, get access to novel technologies, and expand their clientele. For instance, 

·        In January 2022, Koninklijke Philips N.V. (Netherlands) completed the acquisition of Cardiologs based in France, enhancing its portfolio of cardiac diagnostic and monitoring products

·        In July 2020, ZOLL Medical, a subsidiary of Asahi Kasei, bolstered its Critical Care segment by acquiring Cardiac Science. This strategic move expanded the company's portfolio in defibrillators and cardiac care, enhancing its competitive position in the market

·        In 2020, the European Emergency Number Association (EENA) initiated a collaborative project with Everdrone and Schiller, aimed at investigating the potential applications of Unmanned Aerial Vehicles (UAVs) in emergency medical deliveries. Schiller contributed AEDs for the project, strategically supporting its position in the market

The defibrillator market is expected to grow at a faster rate in the years to come due to factors like increased industry player mergers and acquisitions, developing healthcare infrastructure in developing countries, an increase in the use of defibrillators in public places, and calculated efforts to obtain regulatory clearances and break into new markets.

Get Detailed Insights on the Defibrillator Market @ https://meditechinsights.com/defibrillator-market/

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

 

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