North America accounted for the majority of revenue in 2015 and is expected to maintain its dominance throughout the forecast period. This is attributed to the increased adoption of advanced defibrillators, increased awareness about public access defibrillator, increased procedure volumes resulting from rapidly aging population, and increasing incidence of cardiovascular diseases and sudden cardiac arrest (SCA). Moreover, improvement in healthcare expenditure further boosts the sale of home care defibrillators such as wearable external defibrillators and automated external defibrillator (AEDs).
"The ability of the defibrillator device to diagnose early onset of ventricular tachycardia and ventricular defibrillation is expected to promote its demand. On the other hand, the life-saving potential of automated external defibrillators (AEDs) in addition to positive legislations for installation of public access defibrillators (PAD) has witnessed the remarkable growth in the defibrillator market", states Hemali Narkhede, Manager, Healthcare Research at AMR. Also, stiff competition in the U.S. market has resulted in significant decrease in the cost of AEDs. The enforcement of the U.S. governmental law, which necessitates the installation of public access defibrillators (PAD) at public places has derived the growth of AEDs in this region.
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However, Asia-Pacific is projected to be the fastest growing region throughout the analysis period. Japan, being dominant in the Asia-Pacific especially in external defibrillator market, contributes solely for the AEDs market share. This is a result of awareness about the early prevention of sudden cardiac arrest. Also, improving healthcare infrastructures and increasing expenditures in the emerging markets (such as India and China) to overcome the unmet medical needs in these countries have bolstered the market growth. Technological advancements for cost-effective devices in these nations offer a lucrative opportunity for the defibrillator market growth.
Key findings of the study:
In 2015, T-ICDs led the overall implantable defibrillator market revenue, and is projected to grow at a CAGR of 4.9% during the forecast period.
Wearable external defibrillator segment is expected to grow at a remarkable CAGR of 12.3%, owing to the non-invasive nature and increased demand of home healthcare for the treatment of sudden cardiac arrest.
Fully-automated defibrillator segment is projected to grow at a CAGR of 9.9% during the analysis period.
