Defibrillators Market Overview
Defibrillators are devices used to deliver therapeutic shock to a patient’s heart under life-threatening conditions, such as ventricular fibrillation, cardiac arrhythmia, and ventricular tachycardia without pulse. The defibrillation procedure involves administering an electric shock to the heart that depolarizes the heart muscles and restores its normal electrical impulse.
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Growing incidences of cardiovascular diseases worldwide, augmenting geriatric population, growing number of training and awareness programs are the primary causes driving the growth of this market. But still, issues related to the use of implantable and external defibrillators along with lack of awareness on sudden cardiac arrests (SCAs) can hinder the growth of this market. Frequent product recalls coupled with growing pricing pressure on market players also inhibit market growth to a certain extent.
Defibrillators Market Forecast Report (2018-2023)
Defibrillators market size was around USD 11.52 billion in 2018. It is expected to grow at a CAGR of 7.3% to reach USD 16.39 billion by 2023
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Defibrillators Market Segmentation
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By geography, the global Defibrillators market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Presently, North America accounts for the largest market share while Asia Pacific has the highest CAGR.
The major companies dominating this market for its products and services are
- Medtronic PLC (Ireland),
- St. Jude Medical, Inc. (U.S.),
- Boston Scientific Corporation (U.S.),
- BIOTRONIK SE & Co. KG (Germany),
- LivaNova PLC (U.K.),
- Koninklijke Philips N.V. (Netherlands),
- ZOLL Medical Corporation (U.S.),
- Cardiac Science Corporation (U.S.),
- Physio-Control, Inc. (U.S.),
- Nihon Kohden Corporation (Japan).
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