Product ID: SQMIG35A2240
Global Defibrillator Market Size, Share, Growth Analysis, By Product(Implantable Cardioverter Defibrillators (ICD), and External Defibrillators (ED)), By End-User(Hospital, Pre-Hospital) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2240 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
64 |
Figures:
75
Global Defibrillator Market Dynamics
Drivers
Growing Prevalence of Target Diseases
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The growing prevalence of certain target diseases is having a significant impact on healthcare worldwide. Cardiovascular diseases, including coronary artery disease and cardiac arrest, affect a substantial portion of the global population, leading to an increasing number of deaths. According to data from the Centers for Disease Control and Prevention (CDC), approximately 695,000 deaths in the United States were attributed to cardiovascular diseases in 2021. Coronary artery disease, in particular, elevates the risk of sudden cardiac death due to arrhythmias. A report published by the Coronary Artery Disease Foundation in 2022 reveals that roughly 356,000 out-of-hospital cardiac arrests (OHCA) are reported annually in the United States. Lifestyle-related conditions such as obesity, hypertension, dyslipidemia, and diabetes play a significant role in increasing the risk of various cardiovascular diseases. Additionally, the global aging population is a key factor contributing to the rising prevalence of cardiovascular diseases. Aging is associated with a heightened risk of developing ventricular arrhythmias, primarily due to the progressive deterioration and increased complexity in the structure and function of the heart. This leads to a growing prevalence of arrhythmias in the aging population.
Increasing Incidence and Prevalence of Cardiovascular Disorders
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The global defibrillators market is anticipated to experience significant growth, driven by the increasing incidence and prevalence of cardiovascular disorders across developed and emerging economies worldwide. This surge in cardiovascular conditions is expected to create a robust demand for efficient defibrillator products during the forecast period. For instance, data from the World Health Organization reveals that approximately 17.9 million people die each year from cardiovascular disease, accounting for an estimated 32% of all global deaths. Furthermore, it's noteworthy that less than 75% of these cardiovascular disease-related deaths occur in low- and middle-income countries. Among these cases, 85% result from heart attacks and strokes, with coronary heart disease being the most common form and responsible for 382,820 deaths in 2020. It's also important to highlight that in 2020, approximately 2 in 10 deaths related to cardiac arrest occurred in adults under the age of 65.
Restraints
High Cost of Defibrillators
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The cost of defibrillators, especially advanced models like ICDs and implantable devices, can be relatively high. This cost factor can limit their adoption, particularly in regions with limited healthcare budgets or inadequate insurance coverage, restraining market growth.
Global Defibrillator Market Report Snapshots
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