The global defibrillators market features the presence of a large number of established players in regions such as North America and Europe, saturating the market in these regions, observes a recent market research report by Transparency Market Research (TMR). Well-established players bank on brand identity and enjoy a sizeable portion of the overall market, holding dominant positions in the global market. Vast resource pools and R&D funds also grant established players a prominent position in the market. Expansion across high-potential, untapped markets such as Asia-Pacific is one of the most popular strategy adopted by companies to gain sustainable returns.
Transparency Market Research states that the global market for defibrillators is expected to exhibit a healthy single digit growth over the report’s forecast period and rise in terms of revenue from a valuation of nearly US$11.1 bn in 2015 to US$14.2 bn by 2019.
Asia Pacific Market to be the Most Lucrative Regional Market
Of the key end-use segments utilizing defibrillators, the segment of hospitals is the leading generator of revenue for the global market. Hospitals account for nearly 90% of the overall revenue generated by the global market and are expected to remain the most preferred destinations for performing defibrillation procedures in event of a cardiac arrest.
In terms of geography, the global defibrillators market is led by developed economies across North America and Europe. Although North America and Europe are presently the leading contributors to the revenue of the global market, growth across these regions is expected to be slow over the report’s forecast period. The market across Asia Pacific is expected to be the most lucrative in terms of growth from 2013 to 2019.
The Asia-Pacific market holds immense growth opportunity for the market owing to the large population base and rising incidences of cardiovascular diseases. Government initiatives focused towards the establishment of public access automated external defibrillators (AEDs) to reduce the number of fatalities caused due to sudden cardiac arrests (SCA) are also expected to drive the market in the region.
Rising Prevalence of Cardiovascular Diseases Remains Key to Market Growth
In the past few years, cardiovascular diseases, alongside cancer, have emerged as one of the dominant causes of death globally. Recent studies show that deaths caused by cardiovascular disorders are outnumbering deaths caused by cancer and AIDS in some American and European countries. Over 17.6 mn people die every year due to cardiovascular conditions globally and the number is poised to surpass 23 mn by 2030.
Cases of sudden cardiac arrest, one of the most fatal and most hasty reasons causing deaths, are on a rise owing to the rising incidences of obesity, smoking, diabetes, physical inactivity, and unhealthy diet. The study uncovers that the situation and the resultant rise in campaigns aimed at raising awareness regarding the importance of prompt response post cardiac arrests are the key factor leading to the increased adoption of defibrillators across hospitals and other end-use areas.
Lack of Awareness across Developing Regions to Hamper Growth
Although the rate of awareness regarding the first line of action to be undertaken post sudden cardiac arrests and the importance of defibrillators in saving lives is high in developed regions such as North America and Europe, it is significantly low in impoverished African and some Asian countries. This factor remains one of the key restraints holding back the global defibrillators market and will continue to arrest market growth over the forecast period as well.
This review of the market is based on a recent market research report published by Transparency Market Research, titled “Defibrillators Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013–2019.”
For the study, the global defibrillators market is segmented into:
- Global Defibrillators Market, by Products
- Advanced Life Support Defibrillators (ALS)
- Automated External Defibrillators (AED)
- Implantable Defibrillators
- Wearable Defibrillators
- Global Defibrillators Market, by End Users
- Public Access
- Emergency Medical Services
- Business Workplace
- Global Defibrillators Market, by Geography
- North America
- Latin America
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC