North America Defibrillators Market worth USD 5.69 billion by 2021

Posted by rohan on October 3rd, 2017

The North America Defibrillators market size was approximately USD 4 billion in 2016. It is projected to grow at a CAGR of 7.3% to reach USD 5.69 billion by 2021. It captures 40% of the global market making it the largest market in the world.

Defibrillator is a significant tool in cardiopulmonary resuscitation indicated in cardiac arrhythmia. Numerous advancements have occurred in defibrillator technology ranging from manual to automated ones, and implantable defibrillators to ensure continuous care for patients afflicted from ischemic heart disease or the ones with high risk of cardiac arrest.

Rising demand of defibrillators because of the legislative policies by governments of developed countries which are conducive to market growth is a key driver of this market. Growing awareness about the prevalence of Sudden Cardiac Arrest (SCA) among the younger population is another minor factor contributing towards the market growth.

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In spite of that, issues regarding the use of implantable and external defibrillators coupled with lack of awareness on sudden cardiac arrests (SCAs) can hamper the growth of this market. Frequent product recalls conjoined with growing pricing pressure on market players also inhibit market growth to a certain degree.

The North America Defibrillators market can be categorized into two categories: by product, and by end user. If we go by product, Defibrillators market is segmented into Implantable Cardioverter Defibrillators (ICDS) and External Defibrillators. Implantable Cardioverter Defibrillators (ICDS) is further segmented into Transvenous Implantable Cardioverter Defibrillators (T-ICDS) (Biventricular ICDS/Cardiac Resynchronization Therapy Defibrillators (CRT-DS), Dual-Chamber ICDS and Single-Chamber ICDS) and Subcutaneous Implantable Cardioverter Defibrillators (S-ICDS). External Defibrillators is further categorized into Automated External Defibrillators (AEDS) (Semi-Automated External Defibrillators and Fully Automated External Defibrillators), Manual External Defibrillators and Wearable Cardioverter Defibrillators (WCDS). Of all the product categories of the defibrillators market, the S-ICDs segment is estimated to grow at the highest CAGR during the aforementioned forecast period.

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This is primarily attributed to its rising adoption due to its advantages such as growing number of research activities to support the adoption of S-ICD systems coupled with less-invasive approach and proven efficacy. Last but not the least, on the basis of end users the market is segmented into Hospitals, Clinics, & Cardiac Centres, Pre-Hospitals, Public Access Markets and Home Care. The hospitals, clinics, & cardiac centres category is projected to command the largest share of the defibrillators market in 2016. But still, the public access markets segment is estimated to grow at the highest CAGR in the aforementioned forecast period.

By geography, the North America Defibrillators market has been categorized into US and Canada. It is largest market in terms of market share. US is the leading market in this region. This contribution can be attributed to supportive government policies, growing incidence of cardiovascular diseases, savoury reimbursement schemes, growing awareness, and rise in training programs.

Scope of the report:

• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
• Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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Major companies in the Defibrillators market are Medtronic PLC (Ireland), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), LivaNova PLC (U.K.), Koninklijke Philips N.V. (Netherlands), ZOLL Medical Corporation (U.S.), Cardiac Science Corporation (U.S.), Physio-Control, Inc. (U.S.), and Nihon Kohden Corporation (Japan).

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