(I-BusinessNews.Com, March 06, 2021 ) According to the new market research report Defibrillators Market is projected to reach USD 10,883.3 million by 2022 from USD 9,323.5 million in 2017 at a CAGR of 3.1%.
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The growth in this market is driven by the rising prevalence of target diseases, growing focus on providing public-access defibrillators, and training and awareness programs on defibrillators. In addition, emerging markets and the development of S-ICDs and MRI-compatible ICDs and CRT-Ds are expected to offer growth opportunities for players in the defibrillators market.
Prominent players in the defibrillators market include Medtronic (Ireland), St. Jude Medical (US), Boston Scientific (US), Koninklijke Philips N.V. (Netherlands), ZOLL Medical (US), BIOTRONIK (Germany), Physio-Control (US), Nihon Kohden (Japan), SCHILLER AG (Switzerland), Mindray Medical (China), Mediana (South Korea), and METsis Medikal (Turkey).
ZOLL Medical Corporation (US) held the leading position in the global external defibrillators market with a share of 24.2% in 2018. Over the past three years, the company adopted new product launches, agreements, and partnerships as its core business strategies to enhance its share in the external defibrillators market. The company launched the Hospital Wearable Defibrillator, PlusTrac AED Program Management Software, ZOLL R Series Monitor/Defibrillator, ZOLL X Series Monitor/Defibrillator, and ZOLL AED Plus, with a major focus on developing user-friendly and application-specific defibrillators. Furthermore, the company acquired Cardiac Science (US) to strengthen its product portfolio. The company also focuses on partnerships to increase its geographical presence.
Medtronic (Ireland) held the leading position in the global ICDs market in 2018. The company has a broad product portfolio, a strong geographical presence, and a wide customer base in emerging economies, including Brazil, Russia, India, and China. To maintain its leading position in the market, the company has been focusing on technological advancements in implantable defibrillators. In line with this strategy, in the last three years, the company launched Visia AF MRI SureScan CRT-D, Visia AF single-chamber ICDs, Claria MRI Quad CRT-D SureScan, Amplia MRI Quad CRT-D SureScan, Compia MRI Quad CRT-D SureScan, and Evera MRI SureScan ICD. To leverage the growth opportunities in the emerging markets, the company set up its headquarters in Singapore.
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The large share of the North American external defibrillator market can mainly be attributed to the continuous technological advancements and product innovations, increasing number of public defibrillation programs, and rising focus of key players to expand their business in the North American region.
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