Cardiology Defibrillators Devices Market size is estimated to reach $11.7 Billion by 2025, growing at a CAGR of 3.8% during the forecast period 2020-2025. An implantable cardioverter-defibrillator (ICD) is a small battery-powered device placed in chest to monitor the heart rate and detect irregular heartbeats. Cardiac disorders have emerged as the major cause of death, and rising awareness among consumers about advanced defibrillators Devices around the globe is driving the Cardiology Defibrillators Devices Market during the forecast period 2020-2025.
Cardiology Defibrillators Devices Market Segment Analysis – By Type of Devices
Based on Type of Devices, the Cardiology Defibrillators Devices Market is segmented into Implantable Cardioverter Defibrillator (ICDs), External Defibrillator, Wearable Cardioverter Defibrillator (WCDs), Advanced Life Support Units and others. The Implantable Cardioverter Defibrillator (ICDs) holds the major share in 2019. This is owing to the rising adoption of ICD devices and the growing prevalence of cardiac diseases is resulting in high adoption of these devices. However, The External Defibrillator is set to be the fastest growing with a CAGR of 4.12% during the forecast period 2020-2025. This is owing to the rise in the technological advancements in defibrillators and an increase in investments from private players.
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Cardiology Defibrillators Devices Market Segment Analysis – By End User Type
Based on End-user type the Cardiology Defibrillators Devices Market is segmented into Hospitals, Institutes, Pre-hospital Care Settings, Ambulatory Surgery Centre and Others. The Hospitals segment held major share in 2019. This is owing to increasing number of cardiovascular and raising geriatric population all over the globe. However, pre-hospital care market is set to be the fastest-growing CAGR during the forecast period 2020-2025.this is owing to surge in number of hospitals and higher usage of defibrillators within pre- hospitals care.
Cardiology Defibrillators Devices Market Segment Analysis – By Geography
Based on Geography, Cardiology Defibrillators Devices Market is segmented into North America, Europe, Asia-Pacific and Rest of the World. The North America region dominated the Cardiology Defibrillators Devices Market in 2019 with a share of 38.1%. This is owing to the rising prevalence of cardiac ailments, which is the second leading cause of death in the region. Europe is set to be the fastest-growing CAGR during the forecast period 2020-2025. This is owing to rising adoption of ICD devices. Growing prevalence of cardiac diseases is resulting in high adoption of these devices in the region.
Cardiology Defibrillators Devices Market Drivers
Increase in the demand for Wearable cardioverter defibrillators Devices
Wearable cardioverter defibrillators devices have became widely accepted, as this device can be employed in condition where patient is waiting for implantable, owing to surgical contraindication and this device prevents the risk of cardiac arrest. Apart from these numerous technological advances in the wearable devices scheduled to happen in future for instance decreasing the weight and size further to make it more comfortable for the patient improvement in signal to reduce the event of inappropriate detections and shocks.
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Cardiology Defibrillators Devices Market Challenges
The main challenge for Cardiology Defibrillators Devices Market is, the key restrictive factors for market growth are lack of awareness of consumers regarding sudden cardiac arrest (SCA), and practice of Cardiology Defibrillators Devices during emergency cases. Furthermore, increasing pricing is creating pressure on patients to seek advanced Cardiology Defibrillators Devices, which reduce the potential growth of Cardiology Defibrillators Devices Market.
Cardiology Defibrillators Devices MarketIndustry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in the Cardiology Defibrillators Devices Market. Cardiology Defibrillators Devices Market top 10 companies include Heartsine Technologies, Inc., Physio-Control, Inc., Sorin Group, Nihon Kohden Corporation, Medtronic, Inc., Zoll Medical Corporation, Laerdal Medical Corporation, Cardiac Science Corporation, Biotronik, BPL Medical Technologies and among others.
Cardiology Defibrillators Devices Market Developments:
In June 2019, Zoll Medical Corporation acquired Cardiac Science Corporation (CSC), a leading provider of automated external defibrillators (AEDs) and strengthened the company’s portfolio by resourcing next-generation innovations.
Geographically, North America is anticipated to dominate the global Cardiology Defibrillators Devices Market accounted the highest revenue share in 2019. Owing to the growing prevalence of Cardiac ailments, hypertension, diabetes, atherosclerosis, obesity and others in the region.
Factors such as rising awareness about the lifesaving potential of AEDs among consumers are likely to aid in the market growth of Cardiology Defibrillators Devices.
Detailed analysis of the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Cardiology Defibrillators Devices Market report.
Related Reports :
A. Implantable Cardioverter Defibrillator Market
B. Wearable Cardioverter Defibrillator Market
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