PUBLISHER: Grand View Research | PRODUCT CODE: 1493302
PUBLISHER: Grand View Research | PRODUCT CODE: 1493302
The U.S. defibrillator market size is anticipated to reach USD 4.32 billion by 2030, exhibiting a CAGR of 7.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing technological advancements, rising incidence of sudden cardiac arrest and CVD's, rising adoption in emerging applications, and supportive initiatives by governments & healthcare organizations are some of the key factors fueling industry growth.
The escalating prevalence of cardiovascular diseases in the U.S. serves as a major driving force for the U.S. defibrillator market. For instance, as per the Centers for Disease Control and Prevention (CDC), around 454,000 hospitalizations annually in the U.S. involve Atrial Fibrillation (AFib) as the primary diagnosis. This health condition contributes to around 158,000 annual deaths. This rising trend of cardiovascular diseases is expected to contribute to market growth during the forecast period.
The rising geriatric population and technological advancements are expected to significantly impact market growth. Individuals aged 65 years and above are highly prone to chronic illnesses such as cardiovascular diseases (CVDs). For instance, a November 2022 article titled "Senior Population Statistics: A Portrait of Aging Americans" revealed that approximately 54.1 million (16.3%) people in the U.S. are 65 years or older. Consequently, the growing geriatric population drives the demand for these products.