PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1472127
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1472127
Global Defibrillator Market is valued at approximately USD 12.84 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.9% over the forecast period 2023-2030. A defibrillator is a medical device used to administer controlled electrical shocks to the heart during life-threatening cardiac arrhythmias like ventricular fibrillation and pulseless ventricular tachycardia. These irregular rhythms can lead to sudden cardiac arrest. Defibrillators work by briefly halting all heart electrical activity, allowing the heart's natural rhythm to resume. There are various types of defibrillators, including Automated External Defibrillators (AEDs), Manual Defibrillators used by medical professionals, and Implantable Cardioverter-Defibrillators (ICDs) for high-risk patients. Defibrillators are critical emergency tools in restoring normal heart rhythm and increasing survival rates during cardiac emergencies. The growing focus on providing public-access defibrillators, rising training and awareness programs on defibrillators, coupled with the increasing healthcare expenditure are the key factors that are propelling the market demand across the globe.
In addition, the rising prevalence of cardiovascular diseases such as coronary artery disease, arrhythmias, and heart failure is a catalyzing factor for the defibrillator market. Also, cardiovascular diseases remain a prominent cause of global mortality, resulting in the demand for defibrillators for both preventive measures and emergency interventions on the rise. For instance, the British Heart Foundation (BHF) data published in January 2022 reported that in 2021, the most common heart conditions affected globally were coronary (ischemic) heart disease (global prevalence estimated at 200 million), peripheral arterial (vascular) disease (110 million), stroke (100 million) and atrial fibrillation (60 million). The report also mentioned that the prevalence of heart and circulatory diseases in North America was 46 million, in Europe 99 million, in Africa 58 million, in South America 32 million, and in Asia and Australia 310 million in 2021. Thus, these aforementioned factors are propelling the growth of the Defibrillator Market during the estimated period. Moreover, the surge in technological advancements and introduction of innovative devices, as well as increasing government & healthcare initiatives present various lucrative opportunities over the forecast years. However, the stringent regulatory framework and the high cost of the devices are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Defibrillator Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing prevalence of heart diseases, a growing elderly population, a robust presence of industry players, and a well-developed healthcare infrastructure in the region. There is growing awareness among the public and healthcare stakeholders regarding available technologies, as evidenced by data from the Centers for Disease Control and Prevention indicating that approximately 695,000 individuals in the U.S. died from heart disease in 2021 (representing 1 in every 5 deaths). Furthermore, the rising incidence of heart-related disorders and continuous technological advancements are key drivers propelling regional market growth. Whereas Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rise in the trend of sedentary lifestyles, unhealthy dietary habits, and a rising ageing population, leads to increased incidences of cardiovascular diseases (CVD), which are significantly propelling the market demand across the region. This trend has created a higher demand for effective treatment options such as defibrillators. For instance, in December 2022, the "2022 Report on Global Burden of Cardiovascular Diseases and Risk" revealed that the high-income Asia Pacific region reported 76.6 deaths per 1 lakh individuals, boasting the lowest age-standardized total CVD mortality rate. In contrast, Central Asia registered 516.9 deaths per 1 lakh people, with a higher age-standardized total CVD mortality rate. This high prevalence of CVD has resulted in a rising number of cardiology intervention procedures in the region, thereby driving market growth.
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable