Global cardioverter defibrillator devices market is expected to grow at a CAGR of 5.1% to 2027

Published Date: April 8, 2021 |

Global cardioverter defibrillator devices market is expected to grow at a CAGR of 5.1% to 2027

Progressive aging affects the cardiovascular system causing arrhythmias which reduces the cardiac output by 20% which might be asymptomatic in few patients. The symptoms generally manifested in the disease are palpitations, fatigue, dizziness, dyspnea, angina and congestive heart failure.

Browse the full report Cardioverter Defibrillator Devices Market – Growth, Future Prospects, Competitive Analysis, 2020 – 2027 report at https://www.researchcorridor.com/cardioverter-defibrillator-devices-market/

Implantable cardioverter defibrillator are spearheading the type segment for the cardioverter defibrillator devices market. According to the recent statistics provided by the World Health Organization (WHO), the prevalence rate associated with ventricular tachycardia is 53 per 100,000 people worldwide. Technological advancement in the ergonomic features which prove as a value addition to the existing devices is the miniaturization of devices, simplified implantation procedure, and elimination of the leads implanted in the veins or the heart. The implantable devices works around the clock to detect irregular heartbeat and rectify them accordingly thereby causing a drastic reduction in the mortality rate associated with sudden cardiac death.  External cardioverter defibrillator devices are going to register rampant market growth during the forecast period due to its diverse mode of function such as manual and automated. Wearable defibrillators are currently in huge demand due to its excellent features such as light weight vest which is worn under clothes, portable unit comprising of recorder and generator, and wires to connect the electrodes inside the vest with the electrodes in the portable unit.

Hospital & clinics are currently dominating the end user segment for cardioverter defibrillator devices market. Rising prevalence of ventricular tachycardia in the elderly population worldwide and rising public health awareness regarding the therapeutic application of cardioverter defibrillator devices accentuates the market growth. Ambulatory surgical centers are expected to register exemplary market growth in the near future owing to the increasing application of external cardioverter defibrillator devices for resuscitation purpose in patients suffering with sudden cardiac arrest and government initiatives to promote ASC’s to reduce the healthcare cost burden associated with hospitals and clinics worldwide.

North America is presently leading the geography segment for cardioverter defibrillator devices market. Growing incidence of atrial fibrillation in the adult population primarily drives the market growth. As per the latest research citings presented by the Center for Disease Control and Prevention (CDC), approximately 6.1 million people in the United States are suffering with atrial fibrillation. Existence of major players such as Boston Scientific Corporation, Medtronic, Plc., Abbott Laboratories, Inc., Cardiac Science Corporation etc. further bolster the market growth in the region. Europe is placed in the second position owing to the growing incidence of ventricular tachycardia in the geriatric population. Asia Pacific is anticipated to be the fastest growing segment in the regional segment for cardioverter defibrillator devices market. Increasing medical tourism and developing healthcare infrastructure together determine the market growth in the Asia Pacific region.

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Medical device manufacturers actively engaged in the production of cardioverter defibrillator devices are Boston Scientific Corporation, Medtronic, Plc., Koninklijke Philips, Abbott Laboratories, Inc., Biotronik AG., Stryker Corporation, Cardiac Science Corporation, Nihon Kohden Corporation, Progetti Srl and Defibtech LLC.

Key Market Movements:

  • Rising prevalence of cardiac complications worldwide
  • Technological advancement in the external cardioverter defibrillator devices will people the market growth
  • Supportive regulatory environment provided by the global healthcare agencies regarding the early CE clearance and adoption for therapeutic purpose throughout the globe
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