Exploring Key Insights of the Defibrillator Devices And Equipment Market: Growth Prospects, Emerging Trends, and Opportunities
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How Rapidly is the Defibrillator Devices And Equipment Market Expected to Expand Between 2025 and 2034 Based on Current Trends?
The market size for defibrillator devices and equipment has seen robust growth in recent years. The market is projected to expand from $12.17 billion in 2024 to $13.22 billion in 2025, with a compound annual growth rate (CAGR) of 8.6%. The notable growth in the historical period is due to factors such as the prevalence of cardiac arrest, an aging population, the integration of emergency medical services (ems), and increased public awareness and training.
The market size for defibrillator devices and equipment is anticipated to experience robust growth in the upcoming years, and it is predicted to escalate to $16.2 billion by 2029, with a compound annual growth rate (CAGR) of 5.2%. The expansion during the forecast period is credited to factors such as personalized medicine, integration of telehealth, worldwide healthcare accessibility, public access defibrillation, and bystander intervention. Noticeable trends for the forecast duration include wearable defibrillators, next-generation automated external defibrillators (AEDs), subcutaneous implantable cardioverter defibrillators (S-ICDs), and pediatric defibrillation.
What Key Drivers Are Accelerating the Growth of the Defibrillator Devices And Equipment Market During the Forecast Period?
The escalation in healthcare spending is anticipated to boost the defibrillator devices and equipment market’s expansion in the future. This refers to the funds utilized on health-related goods and services, such as individual healthcare, public health initiatives, health studies, and health insurance schemes. Increased healthcare investment may result in a higher implementation of defibrillator devices in medical facilities, clinics, and public access defibrillation programs. For example, as per the National Health Expenditure Account (NHEA) released by the Centers for Medicare and Medicaid Services, a federal organization based in the US, healthcare outlay in the US advanced by 4.1 percent in 2022, hitting $4.5 trillion or $13,493 per individual. Healthcare spending represented 17.3 percent of the country’s Gross Domestic Product. Hence, the improved healthcare structure is propelling the defibrillator devices and equipment market’s advancement.
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Which Key Players Are Shaping the Future of the Defibrillator Devices And Equipment Market?
Major companies operating in the defibrillator devices and equipment market include Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Koninklijke Philips N.V, ZOLL Medical Corporation, Cardiac Science Corporation, Physio-Control Inc., Nihon Kohden Corporation, Defibtech LLC, Schiller AG, Biotronik Inc., LivaNova plc, HeartSine Technologies LLC, Mindray Medical International Limited, Metrax Engineering Ltd., CU Medical Systems Inc., Fukuda Denshi Co. Ltd., GE Healthcare, Innomed Technologies Inc., Progetti Srl, Stryker Corporation, Welch Allyn Inc., Weinmann Emergency Medical Technology GmbH + Co. KG, Bexen Cardio, GCE Group, Lepu Medical Technology (Beijing) Co. Ltd., Shenzhen XFT Medical Limited, Zhejiang Medtec Medical Devices Co. Ltd.
How Are the Latest Trends Influencing the Growth of the Defibrillator Devices And Equipment Market?
Leading firms in the defibrillator devices and equipment market are focusing on the creation of innovative products such as Avive AED with the aim of enhancing survival rates. Known to be the smallest and lightest FDA-approved AED on the market, Avive AED prides on its accessibility, portability, and durability. Avive Solutions Inc., a US and portability-focused defibrillator producer, received pre-market approval (PMA) from the U.S. Food and Drug Administration (FDA) for an Automated External Defibrillator (AED) in January 2023. The Avive Connect AED is expertly crafted to ensure easy installation across different locations, prioritizing maximum connectivity and user-friendliness. The equipment fuses together cellular and WiFi connectivity, GPS technology, and remote maintenance within a highly portable handheld AED.
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Which Key Segments of the Defibrillator Devices And Equipment Market Are Poised for Growth and Innovation?
The defibrillator devices and equipment market covered in this report is segmented –
1) By Type: Implantable Defibrillators, External Defibrillators
2) By Implantable Defibrillators: Transvenous Implantable Cardioverter Defibrillator (T-ICDs), Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs), Cardiac Resynchronization Therapy- Defibrillator (CRT-D), Single And Dual Chamber
3) By External defibrillators: Manual External Defibrillator (MEDs), Automated External Defibrillator (AEDs), Wearable Cardioverter Defibrillator (WCDs)
4) By End User: Hospitals, Pre-Hospitals, Public Access market, Alternate Care market, Home Healthcare
Subsegments:
1) By Implantable Defibrillators: Implantable Cardioverter Defibrillators (ICD), Subcutaneous Implantable Defibrillators (S-ICD), Dual-Chamber Implantable Defibrillators, Single-Chamber Implantable Defibrillators
2) By External Defibrillators: Automated External Defibrillators (AED), Manual External Defibrillators, Wearable Cardioverter Defibrillators (WCD), Other External Defibrillators
What Regions Are At the Forefront of Defibrillator Devices And Equipment Market Expansion?
North America was the largest region in the global defibrillator devices and equipment market in 2023. Western Europe was the second-largest region in the defibrillator devices and equipment market. The regions covered in the defibrillator devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Are the Core Features That Define the Defibrillator Devices And Equipment Market?
Defibrillator devices and equipment are used in the emergency treatment of life-threatening cardiac arrhythmias and abnormal heart rhythms by giving a high-energy electrical shock to the heart through the chest wall to restore its normal rhythm function.
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