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Defibrillators Market Analysis

Report ID: GMI5495
Published Date: Mar 2023
Report Format: PDF

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Wide product range availability to help implantable cardioverter defibrillators (ICD) gain traction

Global Defibrillators Market Share, By Product

In 2022, the implantable cardioverter defibrillator (ICD) segment held more than 71% share in the defibrillators market as a result of the broad variety of product diversity, expanded application possibilities, and technical breakthroughs. A 2022 study on ICD’s long-term results found that very few patients underwent S-ICD replacement, indicating future self-terminating shock events pacing indications. These defibrillators can now indicate backup pacing and emergency defibrillation in line with the surging demand for pacing's enhanced benefits.

Defibrillators Market Analysis

Defibrillators market from hospitals end-use segment is projected to witness growth at more than 7% CAGR over 2023-2032. The high availability of novel devices that offer advanced therapeutic outcomes and provide convenient post-surgical care among patients with cardiac diseases is expected to elevate the preference for hospitals. Other factors that are primed to drive segment expansion include the increasing cases of cardiac arrest, the surge in the need for ICD implantation procedures, and the accessibility of highly skilled healthcare personnel. According to the Department of Health & Human Services, the U.S. recorded nearly 80% of hospital bed utilization in January 2022.

Global Defibrillators Market, By Region

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Europe defibrillators market is foreseen to reach a valuation of over USD 6 billion by the end of 2032. The rising occurrence of tachycardia due to hypertension, obesity, and dyslipidemia among the elderly population is slated to escalate the demand for defibrillators. In addition, supportive government spending is set to further accelerate business growth in the region. In December 2022, the Department of Health and Social Care under the UK Government announced intentions on investing £1 million (around USD 1.2 million) in automated external defibrillators (AEDs) to provide access to defibrillators in areas that are most in need.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global Market size for defibrillators was valued at more than USD 11 billion in 2022 and is primed to progress at over 6.5% CAGR between 2023 and 2032 propelled by surging incidences of sudden cardiac arrests and heart failures.

The implantable cardioverter defibrillator (ICD) segment held over 71% revenue share in 2022 as a result of the broad variety of product diversity, expanded application possibilities, and technical breakthroughs.

The hospitals end-use segment is anticipated to witness growth at more than 7% CAGR over 2023-2032 owing to increasing cases of cardiac arrest, the surge in need for ICD implantation procedures, and the accessibility of highly skilled healthcare personnel.

Europe market for defibrillators is slated to reach a value of over USD 6 billion by the end of 2032 accredited to rising occurrences of tachycardia due to hypertension, obesity, and dyslipidemia, among the elderly population in the region.