According to Meticulous Research™, the Global Cardioverter Defibrillator Devices Market will reach 12,520 million USD by 2022, growing at a CAGR of 4.6% during the forecast period.
The Global Cardioverter Defibrillator Devices Market is mainly segmented by product, end-user, and geography. On the basis of product, this market is segmented into implantable cardioverter defibrillator and external cardioverter defibrillator. Implantable cardioverter defibrillator product segment is expected to hold the largest share in this market in 2018. It is also projected to continue its dominance during the forecast period due to rising adoption of permanent implantable cardioverter defibrillator for the prevention of sudden cardiac arrest and related deaths.
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“The cardioverter defibrillator devices market is majorly driven by increasing incidence & prevalence of cardiovascular diseases with aging population, increasing sedentary lifestyle and obesity rate; and various technological advancements,” mentions Meticulous Research™.
The implantable cardioverter defibrillator accounted for the largest share, owing to “the growing demand for permanent implantable cardioverter defibrillator for the prevention of sudden cardiac arrest and related deaths in patients at high risk, increasing incidence of cardiac arrest and atrial fibrillation, growing trend of modern therapies, and increasing awareness of healthcare, especially in the developing nations.”
Asia-Pacific is the fastest growing cardioverter defibrillator devices market, primarily due to the huge population living with chronic cardiovascular diseases due to rising urbanization, growing inclination towards fast food, and changing lifestyle. In addition, improving healthcare infrastructure, rising focus of the key players to expand in emerging countries like China & India, and increasing affordability of the middle-class population are expected to indirectly support the growth of this market in Asia-Pacific.
Automated external cardioverter defibrillators segment to witness rapid growth
External cardioverter defibrillators market is further sub-segmented into the manual external defibrillator, automated external defibrillator, and wearable external cardioverter defibrillator. Automated external cardioverter defibrillators segment held the largest share in 2017 and will also continue its dominance during the analysis period, owing to rising preference for these devices among pre-hospital settings, military, and small nursing care centers due to ease in operation and portability to offer the first line treatment within minutes of a critical cardiac emergency.
Hospitals to dominate the global cardioverter defibrillator devices market
On the basis of end-user, cardioverter defibrillator devices market is segmented into hospitals, ambulatory surgery centers, and others. Hospitals accounted for the largest share in the global cardioverter defibrillator devices market in 2016; primarily due to a large pool of patients including the population with cardiovascular diseases visiting the hospitals for diagnosis & treatment, owing to the wide presence, easy accessibility, and better healthcare facilities in hospitals.
Regional Market Growth Trends
By geography, the market is segmented into five major geographies namely: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America accounted for largest share of global cardioverter defibrillator devices market, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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The key players in this cardioverter defibrillators market are Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova PLC, Stryker Corporation, Koninklijke Philips N.V., Cardiac Science Corporation, Zoll Medical Corporation, Nihon Kohden Corporation, Progetti Srl, Fukuda Denshi Co., and Schiller AG.
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