Global Defibrillator Market 2018-2022
Defibrillators are used to deliver therapeutic shock to an individual's heart during life-threatening conditions such as ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia. The electric shock depolarizes muscles and restores normal rhythm of the heart.
Technavio’s analysts forecast the global defibrillator market to grow at a CAGR of 7.12% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global defibrillator market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Defibrillator Market 2018-2022
Technavio recognizes the following companies as the key players in the global defibrillator market: BIOTRONIK, Boston Scientific, and Medtronic.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is technological advances. The rising demand for defibrillators with reduced inappropriate shocks, longer battery life, less invasive installation, and quadripolar leads led to innovation in implantable as well as external defibrillators. Innovative implantable defibrillators include products, such as subcutaneous and transvenous patches, which aim to increase the comfort level of individuals.”
According to the report, one driver in the market is rising prevalence of CVDs. According to the CDC, heart disease is one of the leading causes of death in the US. The CDC recorded that between 2011 and 2014, heart-related cases increased by 3% in the US. Major factors contributing to the rise in CVDs globally are high blood pressure, lack of physical exercise, obesity, heredity, and diabetes. In 2014, the CDC estimated that more than 29 million Americans were living with diabetes and 86 million are living with pre-diabetes (person at high risk to develop type 2 diabetes aged 20 years and older).
Further, the report states that one challenge in the market is increasing pricing pressure on vendors. The global defibrillator market is experiencing intense competition among key global and local/regional manufacturers. The market is mainly dominated by some prominent players; however, a few regional players also operate in the market. Local players manufacture and sell their products at significantly lower cost than the global vendors. This lower pricing strategy creates pressure on leading players to reconsider their pricing strategy in the present market scenario.
BIOTRONIK, Boston Scientific, and Medtronic.
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