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Chicago, November 25, 2021 /PRNewswire Children), end users and regions (North America, Europe, Asia Pacific, Latin America, and MEA)-Global forecasts to 2026", published by MarketsandMarkets™, which is expected to increase from US$11.4 billion in 2021 by 2026 To 18.2 billion US dollars, a compound annual growth rate of 9.7%.

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The main driving force for market growth is the rising prevalence of target diseases, increasing attention to providing publicly available defibrillators, as well as defibrillator training and awareness programs. In addition, the development of emerging markets and S-ICD and MRI-compatible ICD and CRT-D is expected to provide growth opportunities for participants in the defibrillator market. However, issues related to the use of implantable and automated external defibrillators, frequent product recalls, and lack of awareness of cardiac arrest in developing countries are expected to hinder the growth of the defibrillator market during the forecast period.

The implantable cardioverter defibrillator (ICD) segment dominates the defibrillator market in 2020

According to the type, the defibrillator market is roughly divided into implantable cardioverter defibrillators (ICD) and external defibrillators. An implantable cardioverter defibrillator (ICD) is a small battery-powered programmable electronic device used to monitor and correct abnormal heart rhythms. These devices are placed on the patient's chest or abdomen, and the thin wires of the ICD are connected to the heart. When the ICD detects an abnormal heartbeat, the ICD will send an electric shock to restore a normal heart rhythm. Ventricular tachycardia and ventricular fibrillation are the two most common diseases that cause arrhythmia. ICD monitors the heart rhythm, recognizes abnormal rhythms, and determines appropriate treatments to prevent sudden death in patients with ventricular tachycardia or ventricular fibrillation. Timely intervention in a cardiac emergency is a key advantage of this programmed device. It prevents the vulnerability of cardiac arrest that can lead to death.

By 2020, the ICD segment will account for 71.5% of the global defibrillator market. The larger share of this market segment can be attributed to the increasing prevalence of cardiovascular diseases and the development of technologically advanced defibrillators.

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Subcutaneous implantable cardioversion defibrillator is expected to have the highest compound annual growth rate during the forecast period

According to the product type, the defibrillator market is divided into implantable cardioverter defibrillators (ICD) and external defibrillators. ICD is further divided into intravenously implanted defibrillators and subcutaneously implanted defibrillators, while external defibrillators are divided into manual defibrillators, automatic defibrillators and wearable defibrillators.

Subcutaneous implantable cardioverter defibrillator (S-ICD) is used to treat ventricular tachycardia. S-ICD is the fastest growing ICD market segment, mainly because it is a less invasive method and has proven to be very effective. There are increasing research activities supporting the adoption of S-ICD systems, which are also expected to drive market growth. For example, in November 2017, AHA, American College of Cardiology, and Heart Rhythm Society issued guidelines recommending the use of S-ICD to treat patients with ventricular arrhythmia and prevent sudden cardiac death (Source: Circulation, Heart Rhythm Journal and Journal of American College of Cardiology , 2017). The high cost of S-ICD is expected to hinder the growth of this market. For example, in Italy, the cost of S-ICD is approximately US$24,787 (18,000 Euros), while the price of a single-chamber ICD is between US$5,508 and US$9,639 (approximately 4,000-7,000 Euros).

According to patient types in 2020, the adult patient segment dominates the defibrillator market

According to the patient type, the defibrillator market is divided into adult and pediatric patients. The adult patient segment accounted for 59.5% of the global defibrillator market in 2020.

In 2020, there will be approximately 75 million adult patients (age group 15 and above) and 25 million pediatric patients (age group 0-14) worldwide (Source: World Bank). According to the World Health Organization (WHO), about 30% of deaths worldwide are caused by cardiovascular disease, which kills 17.9 million people every year. Approximately two out of ten deaths from CVD (cardiovascular disease) occur in patients under 65 years of age (source: Centers for Disease Control and Prevention). The main causes of heart disease are high blood pressure, high cholesterol, diabetes, obesity, unhealthy diet, lack of exercise and excessive alcohol consumption.

The development of advanced ICD, CRT-D and AED, as well as the increasing awareness of heart disease and preventive measures taken by government agencies, are the main factors driving market growth.

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Hospitals, clinics and heart centers are the main end users of the digital X-ray market in 2020

According to end users, the defibrillator market is segmented into hospitals, clinics, and heart centers; pre-hospital care environments; public access markets; alternative care facilities; home care environments; and other end users. Hospitals, clinics and heart centers will dominate the global defibrillator market in 2020, with a share of 80.2%. Clinics and heart centers are the main factors contributing to this end-user market segment.

The defibrillator market in the Asia-Pacific region is expected to grow the fastest

The defibrillator market is divided into five main regions-North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the largest regional market for defibrillators, and during the forecast period, the Asia-Pacific market is expected to grow at the highest compound annual growth rate.

The growth of this market can be attributed to the rapidly growing elderly population and the subsequent increase in the prevalence of CVD. According to the 2017 World Population Outlook (UN), the elderly population (65 years and over) in the Asia-Pacific region is expected to increase from 353.5 million to 1.11 billion by 2060 (approximately 21% of the estimated total population of the region in 2060). 2016. Especially in Japan; increase disposable income and increase the affordability of advanced technology; the prevalence of target diseases is rising; and favorable government initiatives. These factors help boost the market in the region and attract foreign investment and partnerships.

Major players are increasingly paying attention to emerging markets in the region, new product launches, and increasing attention to supplier contracts, which have further promoted the growth of the defibrillator market in the Asia-Pacific region. However, the limited availability of defibrillators in emergency situations and the lack of well-trained skilled technicians in developing countries in the Asia-Pacific region hinder the demand for defibrillators in the region.

The defibrillator market is dominated by Medtronic (Ireland), Stryker Corporation (USA), Koninklijke Philips NV (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (USA), Abbott (USA), Nihon Kohden (Japan) and MicroPort (China).

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