External Defibrillators Market will exhibit a CAGR of 3.3% | 2020 - 2030

Posted by omkar on October 24th, 2019

The Global External Defibrillators market held USD 9.84 billion in 2019 and is predicted to reach USD 14.06 billion by 2030 with a CAGR of 3.3% from 2020-2030.

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Defibrillators are devices used to deliver a therapeutic shock to a patient’s heart in life-threatening conditions such as ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia. The defibrillation practice incorporates delivery of an electric shock to the heart that depolarizes heart muscles and restores its normal electric impulse.

The external defibrillators are portable devices and lightweight that provides rapid response to the victims of cardiac arrest. These devices can be automatic or manual that performs diagnoses the life-threatening cardiac arrhythmias of ventricular fibrillation and pulseless ventricular tachycardia.

The factors including growing incidence of cardiovascular diseases, growing awareness about public access defibrillators (PADs), high presence of unmet medical needs especially in unexploited economies has majorly driven the external defibrillators market trend. The technological advancements and adoption of automated external defibrillators (AEDs) have further supplemented the market growth. The lack of awareness, Safety concerns related to automated external defibrillators, and Limited insurance coverage and the high cost of defibrillators may limit the growth of the external defibrillators market. The beneficial opportunities in emerging economies and supportive government initiatives for the adoption of automated external defibrillators at public places will create new opportunities for market growth in the future.

The external defibrillators market is segmented on the basis of application, end user, and geography. On the basis of product type, the market is segmented into the manual external defibrillator, automated external defibrillator (AED), and wearable cardioverter defibrillator (WCD). The automated external defibrillator (AED) segment is further classified into semi-automated and fully automated. On the basis of the end user, the market covers hospitals, pre-hospitals, public access market, alternate care market, and home. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and ROW.

North America is anticipated to hold the highest external defibrillators market share during the forecast period. This is attributable to the factors including enhanced rapid growth in the geriatric population with an elevated risk of targeted diseases, technological advancement for defibrillator devices, and high consumer awareness.

Asia Pacific region is the second fastest-growing region in the global external defibrillators market owing to the increasing incidence of cardiovascular diseases, increasing awareness and accessibility of external defibrillators devices, and tremendous growth opportunities

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Comprehensive competitive analysis and profiles of the major market players such as Cardiac Science Corporation, Philips Healthcare, Nihon Kohden Corporation, HeartSine Technologies LLC, Mindray Medical International Limited, Defibtech, Llc, Physio-Control, Inc, ZOLL Medical Corporation, GE Healthcare, Schiller Ag, and others are provided in the external defibrillators market report.