LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global defibrillator market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global defibrillator market will grow at a CAGR of above 7% during the forecast period. The rising prevalence of CVDs is a major factor driving the market’s growth.
SCA, which is a type of CVD, leads to increased usage of defibrillators that facilitates quick recovery of normal heart rhythm and revives the blood flow in the brain. Survival rate increases by 60% with the use of defibrillators in cardiac arrest cases. Hence, the rising incidence of CVDs is likely to drive the global defibrillator market during the forecast period.
Inquire about this report: View market snapshot before purchasing
Register for a My Technavio account and get 10% off your first purchase! View all Technavio’s current offers
The two emerging market trends driving the global defibrillator market according to Technavio research analysts are:
- Technological advances
- Increasing M&A
Technological advances
The rising demand for defibrillators led to innovation in implantable as well as external defibrillators with reduced inappropriate shocks, longer battery life, less invasive installation, and quadripolar leads. Innovative implantable defibrillators, which aim to increase the comfort level of individuals, include products, such as subcutaneous and transvenous patches. The Swedish Transport Agency is running a program under test phase, which may deliver AEDs via a drone. This may help in reducing the delivery time of an AED, leading to increased chances of survival with faster treatment. Owing to the technological advancements and product innovations, the defibrillator market is anticipated to grow.
“According to the CDC, in 2015, only 20.9% adults aged above 18 years met the 2008 federal physical activity guidelines for aerobic and muscle-strengthening activity, which indicates lack of physical activity in most of the US population. Quick recovery of normal heart rhythm and revival of the blood flow in the brain is due to the increasing prevalence of CVDs such as SCA, which leads to increased usage of defibrillators that facilitates such outputs. Hence, the rising incidence of CVDs is likely to drive the global defibrillator market during the forecast period,” says a senior analyst at Technavio for research on cardiovascular devices.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global defibrillator market segmentation
This market research report segments the global defibrillator market into the following two major products (ICDs and external defibrillators), by end-users (hospitals, alternate care settings, home-care settings, public access points, and pre-hospitals), and three major regions (the Americas, APAC, and EMEA).
The ICDs segment held the largest market share in 2017, accounting for nearly 54% of the market. However, the market share for this application is expected to decrease nearly 1% by 2022. The fastest growing application is external defibrillators, which will account for 46% of the total market share by 2022.
The Americas was the leading region for the global defibrillator market in 2017, accounting for a market share of 52%. This can be attributed to the increasing incidence of CVDs, favorable government policies and reimbursement schemes, increasing healthcare awareness, and increase in training programs. However, APAC was identified as the fastest growing regional market.
Personalize this report according to your needs: Request a customization
Technavio’s analysts and industry experts will work directly with you to understand your requirements. We offer USD 1,000 worth of FREE customization at the time of purchase.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
