Defibrillator Market is Expected to Reach $18.1 Billion | MarketsandMarkets.

Chicago, Aug. 01, 2023 (GLOBE NEWSWIRE) -- In the near future, the defibrillator industry is poised to undergo significant advancements, revolutionizing the landscape of cardiac care. Innovations in technology will lead to more compact, portable, and user-friendly defibrillator devices, making them readily accessible in various settings, from hospitals to public spaces and even households. AI-powered defibrillators will enhance accuracy in diagnosing life-threatening arrhythmias, enabling faster and more targeted interventions. Additionally, the integration of telemedicine capabilities will enable real-time remote monitoring and support by medical professionals during critical situations. Moreover, there will be a growing focus on sustainability and environmentally friendly designs, reducing the environmental impact of defibrillator manufacturing and disposal. With these cutting-edge developments, the defibrillator industry will play a crucial role in saving lives and improving global cardiac health outcomes.

Defibrillator market in terms of revenue was estimated to be worth $13.6 Billion in 2023 and is poised to reach $18.1 Billion by 2028, growing at a CAGR of 5.9% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The growth of this market is majorly driven by the increasing prevalence of coronary artery disease contributing to the increase in the risk of cardiac arrhythmias, the rising geriatric patient population at an increased risk of the development of arrhythmias, the growing focus of government bodies on expanding the accessibility of defibrillators and ongoing developments in MRI compatible cardiac resynchronization therapy–defibrillators (CRT-Ds).

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Defibrillator Market Scope:

Report Coverage	Details
Market Revenue in 2023	$13.6 Billion
Estimated Value by 2028	$18.1 Billion
Growth Rate	Poised to grow at a CAGR of 5.9%
Market Size Available for	2021–2028
Forecast Period	2023–2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product, Patient Type, End-User, and Region
Geographies Covered	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Growing number of mergers & acquisitions among market players
Key Market Drivers	Growing prevalence of target diseases

Defibrillator market major players covered in the report, such as:

• Medtronic (Ireland)
• Stryker (US)
• Koninklijke Philips N.V. (Netherlands)
• Asahi Kasei Corporation (Japan)
• Boston Scientific Corporation (US). Other players include Abbott (US)
• MicroPort Scientific Corporation (China)
• NIHON KOHDEN CORPORATION (Japan)
• Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (China)
• Biotronik (Germany)
• CU Medical Systems Inc. (South Korea)
• METsis Medikal (Turkey)
• Mediana Co.,Ltd (South Korea)
• Progetti srl (Italy)
• Schiller AG (Switzerland)
• BPL Medical Technologies (India)
• Metrax GmbH (Germany)
• MS Westfalia GmbH (Germany)
• Bexen Cardio (Spain)
• Shenzhen Comen Medical Instruments Co. Ltd (China)
• and Among Others

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This study categorizes the global defibrillator market to forecast revenue and analyze trends in each of the following submarkets:

By Type

• Implantable cardioverter defibrillators
• Transvenous implantable cardioverter defibrillators
• Subcutaneous implantable cardioverter defibrillators
• External defibrillators
• Manual & semi-automated external defibrillators
• Fully automated external defibrillators
• Wearable cardioverter defibrillators

By Patients type

• Adult
• Pediatrics

By End Users

• Hospitals, Clinics and Cardiac centres
• Pre-hospital care settings
• Public access markets
• Home care settings
• Alternate care facilities
• Other end users

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • RoAPAC
• Latin America
  • Brazil
  • Mexico
  • RoLA
• Middle East & Africa

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The key stakeholders in the Defibrillator market include:

• Manufacturers of defibrillators
• Distributors of defibrillators
• Hospitals, Clinics, Cardiac Centers
• Non-government organizations
• Government regulatory authorities
• Contract manufacturers and third-party suppliers
• Research laboratories and academic institutes
• Clinical research organizations (CROs)
• Government and non-governmental regulatory authorities

Recent Developments:

• In February 2023, Medtronic (Ireland) received the CE Mark for its implantable defibrillator system, Aurora EV-ICD MRI SureScan, and Epsila EV MRI SureScan  for the management of irregular heart rhythm
• In January 2022, Koninklijke Philips N.V. (Netherlands)acquired Cardiologs (France)to boost its cardiac diagnostic and monitoring product offerings
• In May 2021, MicroPort Scientific Corporation (China) and Implicitly Inc. (US) entered into a distribution agreement to scale up Microport's cardiac rhythm product offerings

Frequently Asked Questions (FAQs) of Defibrillator Market:

Question 1: What is the projected market value of the global Defibrillators market?
Answer: The global market of Defibrillators  is projected to reach USD 18.1 Billion by 2028

Question 2: What is the global Defibrillators market's estimated growth rate (CAGR) for the next five years?
Answer: The global Defibrillators market is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.9% from 2023 to 2028.

Question 3: Which product segment of the Defibrillators market is expected to witness the highest market share?
Answer: The ICDs segment is projected to observe the highest market share due to the increasing use of ICD defibrillators

Question 4: What are the major revenue pockets in the Defibrillators market currently?
Answer: Asia Pacific is expected to grow at the highest pace during the forecast period, primarily due to the expansion of healthcare infrastructure, the growing presence of players in the region, and government initiatives to boost the accessibility of defibrillators

Question 5: Who are the key players operating in the defibrillators market, and what are the key growth strategies applied?
Answer:  In 2022, the global defibrillators market was dominated are Medtronic (Ireland), Stryker (US), Koninklijke Philips N.V. (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US). The players adopted key strategies, such as collaborations, partnerships, acquisitions, expansions, and product launches, to increase their market penetration.

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Report Objectives:

• To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
• To define, describe, segment, and forecast the defibrillators market by product, patient type, end user, and region
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall defibrillators market
• To forecast the size of the defibrillators market in five main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
• To profile key players in the defibrillators market and comprehensively analyze their core competencies and market shares
• To track and analyze competitive developments, such as acquisitions; product launches; expansions; collaborations, agreements, & partnerships; and R&D activities of the leading players in the defibrillators market
• To benchmark players within the defibrillators market using the competitive leadership mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy

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