Defibrillator Market

Defibrillator Market to be Worth $22.76 Billion by 2031

Global Defibrillator Market 2024-2031 Meticulous Research a leading market research company, published a research report titled, 'Defibrillator Market by Product (Implantable (ICD) [Transvenous {Dual Chamber, Single-chamber, CRT-D}, Subcutaneous], Wearable]), End User (Hospital, Emergency Care, Home Care), Age Group Global Forecast to 2031. External (ECD) [Manual, Automated, According to this latest publication from Meticulous Research , the defibrillator market is projected to reach $22.76 billion by 2031, at a CAGR of 6.9% from 2024 to 2031. The growth of the defibrillator market is driven by several factors, including the increasing burden of cardiovascular diseases and the rise in obesity incidence, the adoption of a sedentary lifestyle, and excessive consumption of alcohol & caffeinated products, technological advancements in defibrillator devices and the rising geriatric population. However, the lack of skilled professionals and the increase in reported cases of defibrillator malfunctions & product recalls restrains market growth. The high incidence of clinical adverse events attributed especially to high-risk medical devices has led to an advocated change from many stakeholders. This is especially true with respect to devices like cardiac implants, with their high-risk nature and high complication rates associated with considerable mortality due to their frequent use in older populations with frequent co-morbidities. For instance, in July 2023, Medtronic plc (Ireland) recalled their Implantable Cardioverter Defibrillators (ICDs) Defibrillators (CRT-Ds) with glassed feedthrough for risk of low or no energy output during high voltage therapy. The reason for this recall was the failure of the devices to deliver low or no energy output, which can fail to correct arrhythmias, leading to cardiac arrest, other serious injuries, or death. Cardiac Resynchronization Therapy Key Players The key players profiled in the defibrillator market report are Medtronic plc (Ireland), Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.), Biotronik Se & Co., Kg (Germany), LivaNova plc (U.K.), Stryker Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), Nihon Kohden Corporation (Japan), Progetti Srl (Italy), Fukuda Denshi Co., Ltd. (Japan), Schiller AG (Switzerland), and ZOLL Medical Corporation (U.S.). The defibrillator market is segmented by Product (Implantable Cardioverter Defibrillators [Transvenous Implantable Cardioverter Defibrillators {Cardiac Resynchronization Therapy Defibrillators (CRT-D), Dual-Chamber Implantable Cardioverter Defibrillators, Single-chamber Implantable Cardioverter Defibrillators}, Defibrillators], External Cardiac Defibrillators [Manual ECD, Automated ECD {Semi-automated ECD, Fully-automated ECD}, Wearable ECD), Age Group (Adult, Children), End User (Hospital and Ambulatory Surgery Centers, Pre Hospital/Emergency Care, Public Access Programs, Alternative/Foster Care, and Homecare), and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets. Subcutaneous Implantable Cardioverter Page 1 of 3 Meticulous Research| sales@meticulousresearch.com

Global Defibrillator Market 2024-2031 Among products, in 2024, the implantable cardioverter defibrillators segment is expected to account for the largest share of the market. The large share of the segment is attributed to the rising adoption of permanent implantable cardioverter defibrillators for the prevention of sudden cardiac arrest and related deaths in patients at high risk of it. Technological developments leading to the development of advanced defibrillators are supporting the largest market share. For instance, in March 2022, Rapid Response Revival Research Ltd (U.K.) launched CellAED, which is a personal defibrillator, which is a handheld device that improves the chances of surviving a sudden cardiac arrest. This device is portable and easy to use and does not require any special medical training. Among age groups, in 2024, the adult segment is expected to account for the larger share of the market. Defibrillators are used to regulate irregular heartbeats or revive the heart in case of a sudden cardiac arrest. Increasing incidence of obesity, sedentary workstyle, and excessive consumption of alcohol and caffeinated products increases the risk of cardiac arrests, particularly in the adult population, as these risk factors are more prevalent in adults than children. For instance, as per data updated by the Sudden Cardiac Arrest Foundation (U.S.), in the U.S., the annual incidence of out-of-hospital cardiac arrests (OHCA) reported is 347,322 in adults, compared to 7,037 in children. Thus, the demand for defibrillators is higher in adults compared to children. Among end users, in 2024, the hospitals segment is expected to account for the largest share of the market. Being one of the most conventional and highly preferred healthcare settings with wide presence, easy accessibility, and better healthcare infrastructure, most of the patients initially visit hospitals for any healthcare concerns. The large share of the market is attributed to factors such as the large pool of patients with cardiovascular diseases visiting the hospitals for diagnosis & treatment of cardiac diseases, easy accessibility, and better healthcare facilities in hospitals as compared to other healthcare institutions. Among geographies, in 2024, North America is expected to account for the largest share of the market. The U.S. is the largest share-holding country in North America. The large share of this region is attributed to factors such as increasing incidence of cardiovascular diseases among the rising geriatric population, increasing burden of hypertension; well-established healthcare system & distribution channel; higher spending on healthcare; and presence of leading players in this region. For instance, according to the Centers for Medicare & Medicaid Services (CMS), the U.S. healthcare expenditure was $4.5 trillion in 2022 as compared to $4.3 trillion in 2021. Along with this, the increasing number of chronic diseases, the presence of large medical device manufacturers in this region, and increased accessibility & higher adoption of technically advanced medical devices are driving the growth of defibrillator devices in the country. Download Sample Report Here @ https://www.meticulousresearch.com/download- sample-report/cp_id=3596 Page 2 of 3 Meticulous Research| sales@meticulousresearch.com

Global Defibrillator Market 2024-2031 Key questions answered in the report: Which are the high-growth market segments in terms of defibrillators by product, age group, end user, and geography? What was the historical market for defibrillators across the globe? What are the market forecasts and estimates for the period 2024 2031? What are the major drivers, restraints, opportunities, and challenges in the defibrillator market? Who are the major players operating in the defibrillator market? What is the competitive landscape like, and who are the leaders in the defibrillator market? What are the recent developments in the defibrillator market? What are the different strategies adopted by the major players in the defibrillator market? What are the geographical trends and high-growth regions/countries? Contact Meticulous Email- sales@meticulousresearch.com Contact Connect with us on research Us: Research Sales- +1-646-781-8004 LinkedIn- https://www.linkedin.com/company/meticulous- Page 3 of 3 Meticulous Research| sales@meticulousresearch.com