Harrisburg, NC -- (SBWIRE) -- 10/19/2020 -- The Global Defibrillator Devices And Equipment Market Research Report provide the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). It provides an in-depth study of the Defibrillator Devices And Equipment market by using SWOT analysis. This gives a complete analysis of drivers, restraints, and opportunities of the market. This report presents a comprehensive overview, market size and share, regional and country-level analysis of the Defibrillator Devices And Equipment market. The segmental analysis focuses on forecast by Type, Application in terms of revenue and forecast for the period 2020-2030.
The global defibrillator devices and equipment market was valued at about $6.26 billion in 2018 and is expected to grow to $7.58 billion at a CAGR of 4.9% through 2022.
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Top Key Players in the Global Defibrillator Devices And Equipment Market: Medtronic, St. Jude Medical LLC, Boston Scientific Corporation, Koninklijke Philips N.V, ZOLL Medical Corporation.
North America was the largest region in the defibrillator devices and equipment market in 2018, followed by Europe. This region is expected to remain the largest during the next five years. The defibrillator devices and equipment market in Asia Pacific are forecasted to register the highest CAGR during 2018-2023.
Rising incidence of sudden cardiac arrest (SCA) is one of the major drivers of the defibrillator devices and equipment market. According to American Heart Association (AHA), the annual incidence of SCA in people of any age is around 356,461. SCA is characterized by the complete cessation of cardiac activity and defibrillators are used to deliver a therapeutic shock to the patient to revive the heartbeat. Due to this, the market for defibrillators is forecasted to grow.
The high cost of these devices is impeding the growth of the defibrillators market. In the USA, the health care costs for administering therapeutic shock using implantable cardioverter-defibrillator (ICD) ranges between about $1,300 and $20,000 per patient for outpatient and inpatient care. Apart from healthcare cost, other charges such as maintenance cost, battery replacement cost, and annual servicing charges are also added to the overall cost. For instance, if AED (Automatic External Defibrillator) is used on a person suffering from a sudden cardiac arrest, then it will need to undergo maintenance before it can be used again. This includes service and the replacement of batteries and pads. Owing to these economic factors, the growth of the overall market for defibrillator devices and equipment is restrained.
The technological advances are one of the major trends being witnessed in the defibrillator and equipment market. Over the last three decades, AEDs (Automated External Defibrillator ) have been upgraded with several new features such as rechargeable batteries, LCD screens, voice prompts, CPR tutorials, sophisticated self-testing software, fully automatic operation, and new types of shocks. There have been several recent advancements in implantable cardioverter-defibrillator (ICD) technology to extend battery life, improvements in patient monitoring to avoid needless shocks, the introduction of quadripolar lead devices to improve device programming and to improve therapy effectiveness, and the development of magnetic resonance imaging (MRI)-safe ICDs.
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Regional Analysis for Market:
For a comprehensive understanding of market dynamics, the global Defibrillator Devices And Equipment market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.
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Overview: This segment offers an overview of the report to provide an idea regarding the contents and nature of the research report along with a wide synopsis of the global Defibrillator Devices And Equipment Market.
Analysis of Leading Players Strategies: Market top players can utilize this analysis to increase the upper hand over their rivals in the market.
Study on Major Market Trends: This segment of the report delivers a broad analysis of the most recent and future market trends.
Forecasts of the Market: The report gives production, consumption, sales, and other market forecasts. Report Buyers will approach exact and approved evaluations of the total market size in terms of value and volume.
Analysis of Regional Growth: This report covered all major regions and countries. The regional analysis will assist market players to formulate strategies specific to target regions, tap into unexplained regional markets, and compare the growth of all regional markets.
The research includes historic data from 2015 to 2020 and forecasts until 2030 which makes the reports an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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