Defibrillator Market is Anticipated to Grow because of Technological Advancements and Product Innovations

The global defibrillator market is expected to reach USD 21.92 billion by 2025, according to a new report by Grand View Research, Inc. To increase the availability of these products in developed countries, the government is making amendments in their policies to make the product available at various places.

The healthcare expenditure at a global level is rising, along with increasing penetration of public and private health insurance. This rise is expected to fuel demand for defibrillators across various end-user segments.

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In the U.S., there are more than 250,000 cases of death due to SCA every year. In order to, decrease this number, all the 50 states have enforced or supported the broad public access law. The American Heart Association noted that a minimum of 20,000 lives were saved due to publicly accessible defibrillators annually. It is also estimated that as many as 50,000 deaths are prevented due to deployment of AEDs among the trained responders. The states recommend that Public Access Defibrillators (PADs) must be present in public buildings, transportation centers, residential apartments and transportation centers.

Defibrillator market is driven by innovative processes. For instance, a program under trial in Sweden is likely to deliver AEDs via drones. This is anticipated to reduce the delivery time for defibrillators, thus saving more lives. The growth of this industry can be attributed to new product development, mergers & acquisitions, and rising market penetration.

Further Key Findings From the Study Suggest:

• Implantable Convertible Defibrillator (ICD) was the major contributor in this industry in 2016
• External defibrillators recorded the fastest growth in the industry
• Hospitals were the major contributors in the end-use segment in 2016
• The public access market was the fastest growing end-user segment of the overall industry in 2016
• North America held a major share in this industry
• Asia Pacific region is anticipated to exhibit fastest growth in the global defibrillator industry
• Some of the key players are Medtronic; St. Jude Medical LLC; Boston Scientific Corporation; LivaNova; Koninklijke Philips N.V.; ZOLL Medical Corporation; Cardiac Science; Physio-Control Inc.; Nihon Kohden Corporation; Defibtech LLC; HeartSine Technologies LLC; Progetti Srl; Fukuda Denshi Co., Ltd.; and Schiller AG
• New product development, mergers & acquisitions, and regional expansion are some of the strategic initiatives undertaken by the key players

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