The Global Defibrillator Market is expected to reach USD 15.75 billion by 2020, according to a new report by Grand View Research Inc. Increasing prevalence of cardiovascular diseases coupled with rising adoption rate of remote and regular patient monitoring is expected to boost the defibrillator market over the forecast period. The market is anticipated to grow at a CAGR 6.8% during the forecast period.
Rising work related stress and exposure to harmful chemicals such as carbon monoxide, lead, arsenic, and unhealthy lifestyle habits are vital causes triggering cardiac diseases. Lack of availability of prompt treatment in case of sudden cardiac arrest (SCA) is another important factor promoting the growth.
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http://www.grandviewresearch.com/industry-analysis/defibrillators-market
Strategic initiatives by healthcare federal bodies such as the distribution and widespread access of automated external defibrillators (AED) in public buildings and spaces further propels the expansion of the market. This initiative was begun after a study projected that over 700 people die per day due to unavailability of treatment for sudden cardiac arrest.
Implantable cardioverter defibrillator device is expected to report revenue of over 8 billion by 2020 due to enhancement in the technology and reduced number of sudden deaths. External defibrillators are expected to report a CAGR of 7.1% due to new software and smaller implant development. Ilesto DX, a product offered by Biotronik is first of its kind, allowing complete atrial diagnosis with a single defibrillator lead. Home care and public access market together are expected to register lucrative growth with revenue over 1.1 billion by 2020. Faster treatment availability and reduced hospital visits is the principal driver for the development.
North American region is anticipated to contribute over 35.0% of revenue in 2020, owing to rising geriatric population, favorable government initiatives pertaining to faster therapy availability, sophisticated healthcare infrastructure and increasing patient awareness levels coupled with relatively higher healthcare expenditures in the region.
Asia Pacific region is projected to reach over USD 3.5 billion by registering lucrative growth throughout the forecast period. The growth is attributed to the larger untapped opportunities, rising healthcare expenditure, augmenting disease prevalence rate, and supportive government initiatives and concession.
Major players of the industry include Boston Scientific Corporation, ZOLL Medical Corporation, St. Jude’s Medical, Medtronic, Biotronik, and Cardiac Science Corporation. St. Jude’s Medical offer the ShockGuard technology in their devices that facilitate in differentiation between true ventricular tachycardia and other lead noises thereby promoting higher safety of the patient.
Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-defibrillators-market
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