Defibrillator Market worth $18.2 billion by 2026 - Exclusive Report by MarketsandMarkets

CHICAGO, Nov. 25, 2021 /PRNewswire/ -- According to the new market research report "Defibrillator Market by Product Type (Implantable Cardioverter Defibrillator and External Defibrillator), Patient Type (Adult, Pediatric), End Users, and Region(North America, Europe, APAC, Latin America & MEA) - Global Forecast to 2026", published by MarketsandMarkets, the market is projected to reach USD 18.2 billion by 2026 from USD 11.4 billion in 2021, at a CAGR of 9.7%.

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174 – Tables
39 – Figures
217 – Pages

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Market growth is mainly driven by the rising prevalence of target diseases, growing focus on providing public-access defibrillators, and training and awareness programs on defibrillators. In addition, emerging markets and the development of S-ICDs and MRI-compatible ICDs & CRT-Ds are expected to offer growth opportunities for players in the defibrillators market. However, issues related to the use of implantable and automated external defibrillators, frequent product recalls, and a lack of awareness about sudden cardiac arrest in developing nations are expected to hinder the growth of the defibrillators market during the forecast period.

The Implantable Cardioverter Defibrillators (ICDs) segment dominated the defibrillator market in 2020

Based on type, the defibrillators market is broadly segmented into implantable cardioverter defibrillators (ICDs) and external defibrillators. Implantable cardioverter defibrillators (ICDs) are small battery-powered, programmed electronic devices used to monitor and correct abnormal heart rhythms. These devices are placed in the chest or abdomen of a patient with thin wires of ICD connected to the heart, which delivers electric shocks to restore the normal heart rhythm when the ICD detects an abnormal heartbeat. Ventricular tachycardia and ventricular fibrillation are the two most common disorders that cause irregular heartbeats. ICDs supervise the heart rhythm, identify abnormal rhythms, and determine a suitable treatment to prevent sudden death of patients with ventricular tachycardia or ventricular fibrillation. Timely intervention in cases of cardiac emergencies is a key advantage of this programmed device. It prevents vulnerability to cardiac arrests that could lead to death.