Leeds, UK -- (SBWIRE) -- 07/11/2019 -- Wearable cardioverter defibrillator is used to send an electrical current to the heart to normalize heart rhythm in ventricular fibrillation (abnormal rhythm in the ventricles of the heart). There are two types of defibrillators which can be external (automated external) or internal (implantable) defibrillators. An automated external defibrillator is an external system that provides an electrical current to restore normal heart rhythm. The external shock sent to the heart through pads placed on the chest and implantable cardioverter defibrillator, it sends a shock to the heart from inside the body by an implantable cardioverter defibrillator. Defibrillators are often used for the treatment of ventricular tachycardia and fibrillation. It can be used for the treatment of heart dysrhythmias.
Gradually increasing geriatric population, the advancement of technology with increased usage of patient friendly devices and rise in awareness of the disease have resulted in the growth of the market. According to United Nations statistics in 2015, the number of people ageing above 60 has increased and it is projected by UN that the number of people over the age of 60 years will grow from 901 million to 1.4 billion in 2030 globally. The growing population has driven the growth of the market. Wearable cardioverter defibrillator devices alternatively can be utilized to prevent the risk of cardiac arrest. Rising prevalence of heart diseases and heart attacks are expected to fuel the traction of the market.
Wearable defibrillator is shown to increase the survival rate of heart patients and improve the health condition. Heart diseases pose a high risk for sudden heart attacks and require continuous monitoring. It led to a huge economic burden on government bodies and increased the dependency of healthcare systems on technologies to minimize the cost burden. This process led to the development of wearable cardioverter defibrillators. Additionally, increasing awareness and changing demographics of the general population boosted the burgeoning growth of the market. Further, the market is expected to witness huge capital investments from public sectors and fuelled the R&D investments during the forecast period.
However lack of knowledge about sudden cardiac arrest has limited the growth of the market. Additionally the defibrillator not supervising atrial arrhythmias is restraining the growth of the market.
Global market is dominated by North America due to high per capita healthcare expenditure and well-established reimbursement policies. It was followed by Europe due to high awareness among the general population. The Asia Pacific is expected to remain a fast growing region due to increasing adoption and it is majorly dominated by local manufacturers. The Asia Pacific is expected to remain as most opportunistic space for international manufacturers. Latin America and Rest of the world market are expected to account for a small fraction of market share with a high growth rate during the forecast period.
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Wearable Cardioverter Defibrillator market players include Zoll Medical Corporation, Moda Health, Asahi Kasei Corporation, Element Science, Inc. and others
Wearable Cardioverter Defibrillator Market Restraints:
? Lack of knowledge about sudden cardiac arrest
? Defibrillator not overseeing atrial arrhythmias
Global Wearable Cardioverter Defibrillator Market Segmentation:
By Implant Type
? Implantable Cardioverter Defibrillator (ICD)
? External Cardioverter Defibrillator
By End User
? Outpatient Centres
? North America
? Latin America
? Asia Pacific
? Rest of the World
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? Tier 1 players- established companies in the market with a major market share
? Tier 2 players
? Emerging players which are growing rapidly
? New Entrants
FutureWise Key Takeaways
? Growth prospects
? SWOT analysis
? Key trends
? Key data-points affecting market growth
Objectives of the Study:
- To provide with an exhaustive analysis on the global Wearable Cardioverter Defibrillator Market by Implant type, by End-User, and by Region
- To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market
- To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
- To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
- Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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