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Defibrillator Devices And Equipment Global Market Report 2022

·3 min read
ReportLinker
ReportLinker

Major players in the defibrillator devices and equipment market are Medtronic, St. Jude Medical LLC, Boston Scientific Corporation, Koninklijke Philips N. V, ZOLL Medical Corporation, Cardiac Science, Physio-Control Inc, Nihon Kohden Corporation, Defibtech LLC, and Schiller AG.

New York, May 13, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Defibrillator Devices And Equipment Global Market Report 2022" - https://www.reportlinker.com/p06277222/?utm_source=GNW


The global defibrillator devices and equipment market is expected to grow from $8.68 billion in 2021 to $9.73 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The market is expected to grow to $14.4 billion in 2026 at a compound annual growth rate (CAGR) of 10.3%.

The defibrillator devices and equipment market consist of sales of heart-related diagnostic devices and related services. The Defibrillator devices and equipment are designed to detect life-threatening cardiac arrhythmias

The main types of defibrillator devices and equipment are implantable defibrillators and external defibrillators.An implantable defibrillator is a small battery-powered device placed for detecting and stopping irregular heartbeats.

The implantable defibrillators are transvenous implantable cardioverter-defibrillator (T-ICDS), subcutaneous implantable cardioverter-defibrillator (S-ICDS), cardiac resynchronization therapy- defibrillator (CRT-D), single & dual chamber.The external defibrillators are manual external defibrillators (MEDs), automated external defibrillators (AEDs), and wearable cardioverter defibrillators (WCDs).

The various end-users are hospitals, pre-hospitals, public access market, alternate care market, and home healthcare.

North America was the largest region in the defibrillator devices and equipment market in 2021.Western Europe was the second-largest region in the defibrillator devices and equipment market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The rising incidence of sudden cardiac arrest (SCA) is one of the major drivers of the defibrillator devices and equipment market.According to the 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 defibrillator market.In the USA, the health care costs for administering therapeutic shock using implantable cardioverter-defibrillator (ICD) range between about $1,300 and $20,000 per patient for outpatient and inpatient care.

Apart from healthcare costs, 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.

Technological advances are one of the major trends being witnessed in the defibrillator and equipment market.Over the last three decades, AEDs (Automated External Defibrillators) 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.

Defibrillators are subjected to stricter regulations by USFDA when compared to other devices.For instance, the US FDA ordered the PMA approval for new and existing automated external defibrillators.

Due to manufacturing issues, the FDA has recalled more than 2 million devices since 2005.

The countries covered in the defibrillator devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
Read the full report: https://www.reportlinker.com/p06277222/?utm_source=GNW

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