The global defibrillator market market is expected to reach USD 18.1 billion by 2028 from USD 13.6 billion in 2023, at a CAGR of 5.9% during the forecast period. Factors such as an increase in cardiac arrest among patients with cardiovascular diseases worldwide, growing initiatives by government or private organizations to boost the installation of defibrillators in public access places to enhance the responses during cardiac arrest emergencies, and a rise in defibrillators training & awareness programs are anticipated to propel the growth of defibrillators market during the forecast period. Moreover, ongoing developments in S-ICDs and MRI-compatible ICDs & CRT-Ds and improving healthcare infrastructure in emerging nations will likely support the market's growth.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=549Opportunity: Growing number of mergers & acquisitions among market playersMany key market players in the defibrillator market are increasingly acquiring other players to expand their product offerings globally. These acquisitions help manufacturers of implantable and external defibrillators improve their technical efficiencies, strengthen their financial base, penetrate emerging markets, and offer patients a wide range of products. Acquisitions enable defibrillator manufacturers to maintain their profit margins and enhance their geographic presence despite the increasing cost pressures. Some of the key mergers & acquisitions in the defibrillator market are listed below. In July 2020, ZOLL Medical (an Asahi Kasei subsidiary) acquired Cardiac Science to strengthen its Critical Care segment. This acquisition diversified the company's defibrillator and cardiac care segment, helping the parent company maintain a competitive edge in the market.Challenge: Lack of awareness about sudden cardiac arrests in developing countriesDefibrillators are typically used to restore normal heartbeat in critical cardiac patients (such as arrhythmia, cardiac arrest, etc.). However, developing countries such as India, Indonesia, and Brazil are reported with limited public awareness levels about the clinical relevance of timely interventions through defibrillators as well as a limited operational understanding of defibrillators among the general public.Therefore, clinical and product awareness level in developing countries is a major challenge to sustained and positive demand growth of defibrillator products during the coming decade. This is further aggravated by frequent product recalls resulting in lower availability of innovative external defibrillators in the market.The defibrillator market is consolidated and dominated by various global players as of 2022. Major players operating in this market are Medtronic (Ireland), Stryker (US), Koninklijke Philips (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US), and Abbott (US). These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in defibrillators.Medtronic (Ireland): Due to its extensive product portfolio, Medtronic is the leading player in the global implantable defibrillators market. The company primarily focuses on developing innovative products to treat and manage heart failure and heart rhythm disorders. The company focuses on inorganic business growth strategies such as product development & commercialization, acquisitions, and market expansions to strengthen its current position and gain a larger share of the neurovascular devices market. The company received the CE Mark for its implantable defibrillator system, Aurora EV-ICD MRI SureScan, and Epsila EV MRI SureScan for managing irregular heart rhythms in 2023.
Request For Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=549North America to dominate the global defibrillator marketThe defibrillators market is segmented based on the region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the defibrillators market. This can be attributed to the rapid adoption of technologically advanced defibrillators, favorable reimbursement policy, and the strong presence of defibrillator manufacturers with a strong focus on strengthening R&D through investments in new product development. Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to the presence of a large target patient pool, government initiatives to modernize & expand healthcare infrastructure, and expansion of market players in the region.
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