Defibrillator Market Poised for Robust Value CAGR of Over 8.0% Through 2030: Grand View Research Inc.Posted by Sona Kulkarni on November 8th, 2023 Defibrillators Market Growth & TrendsThe global defibrillator market size is expected to reach USD 12.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.0% from 2023 to 2030. The key drivers for this market include supportive regulatory policies, rising incidences of sudden cardiac arrests, product developments, and rising awareness regarding cardiac conditions. The COVID-19 pandemic, however, gave rise to several challenges such as dampened demand for ICDs, logistical bottlenecks, postponed elective surgeries across the globe, and reduced sales growth. The demand for ICDs plunged during 2020 as governments in many key markets implemented movement restrictions and hospitals deferred elective procedures. The sales recovered gradually as movement restrictions were eased and elective procedure volume went up. For instance, Abbott reported a decline in demand and sales of its cardiovascular and neuromodulation portfolio in 2020. Abbott attributed the sales decrease to reduced procedure volumes resulting from the pandemic. The rising demand to develop solutions to improve sudden cardiac arrests response and the need to improve patient outcomes is expected to drive innovation in implantable as well as external defibrillators product segments. Innovation in the implantable defibrillators segments is driven by product advancements in subcutaneous and transvenous devices to increase device safety and efficacy. Integration of digital technologies such as analytics and tracking software is expected to drive the development in the external defibrillators segments. Other emerging technological trends include developments in personal AEDs for use in home settings, improvements in tracking technology for AEDs, the use of drones to deliver devices to care sites, and the use of IoT. Major market players are focused on launching technologically advanced products and collaborations to enhance their presence. For instance, in July 2020, Zoll Medical Corporation launched a new remote view technology feature on its X Series monitor/defibrillator. This enhanced the existing product portfolio. In 2020, the European Emergency Number Association (EENA) launched a project in collaboration with Everdrone and Schiller to understand and explore the possibilities of using Unmanned Aerial Vehicles (UAVs) for emergency medical deliveries. The AEDs used were provided by Schiller, thus strengthening the company’s market presence. Request a free sample copy or view report summary: Defibrillators Market Report Defibrillators Market Report Highlights
Access Press Release@ https://www.grandviewresearch.com/press-release/global-defibrillators-market Defibrillators Market Segmentation Grand View Research has segmented the global defibrillators market on the basis of product, end use, and region: Defibrillators Product Outlook (Revenue, USD Million, 2018 - 2030)
Defibrillators End-use Outlook (Revenue, USD Million, 2018 - 2030)
Defibrillators Regional Outlook (Revenue, USD Million, 2018 - 2030)
List of Key Players of Defibrillators Market
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Like it? Share it!More by this author |