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(MoneyNewsWire.Net, October 18, 2017 ) The Asia Pacific Defibrillators market size was approx. USD 2 billion in 2016. It is estimated to grow at a CAGR of 7.5% to reach USD 2.87 billion by 2021. It captures 20% of the global market.
Defibrillator is a vital tool in cardiopulmonary resuscitation indicated in cardiac arrhythmia. As per the 2015 report issued by the Institute of Medicine, approximately 600,000 people are victims to cardiac arrest per year in the U.S., with about 65% of cases in out-of-hospital settings. The survival rate of out-of-hospital setting is below 6%, whereas it is 24% in hospital settings. Inadequate operational knowledge among consumers regarding defibrillators and about carrying out CPR results in degenerate survival rate in out-of-hospital cardiac arrest cases.
Growing incidences of cardiovascular diseases worldwide, augmenting geriatric population, growing number of training and awareness programs are the primary causes driving the growth of this market. Secondary factors include numerous training initiatives about appropriate usage of defibrillators and CPR techniques are propelling the demand for defibrillators, especially automated ones.
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But still, issues related to the use of implantable and external defibrillators along with lack of awareness on sudden cardiac arrests (SCAs) can hinder the growth of this market. Frequent product recalls coupled with growing pricing pressure on market players also inhibit market growth to a certain extent.
The Asia-Pacific Defibrillators market can be categorized into two categories: by product, and by end user. If we go by product, Defibrillators market is segmented into Implantable Cardioverter Defibrillators (ICDS) and External Defibrillators. Implantable Cardioverter Defibrillators (ICDS) is further segmented into Transvenous Implantable Cardioverter Defibrillators (T-ICDS) (Biventricular ICDS/Cardiac Resynchronization Therapy Defibrillators (CRT-DS), Dual-Chamber ICDS and Single-Chamber ICDS) and Subcutaneous Implantable Cardioverter Defibrillators (S-ICDS). External Defibrillators is further categorized into Automated External Defibrillators (AEDS) (Semi-Automated External Defibrillators and Fully Automated External Defibrillators), Manual External Defibrillators and Wearable Cardioverter Defibrillators (WCDS). Of all the product categories of the defibrillators market, the S-ICDs segment is estimated to grow at the highest CAGR during the aforementioned forecast period. This is primarily attributed to its rising adoption due to its advantages such as growing number of research activities to support the adoption of S-ICD systems coupled with less-invasive approach and proven efficacy. Last but not the least, on the basis of end users the market is segmented into Hospitals, Clinics, & Cardiac Centres, Pre-Hospitals, Public Access Markets and Home Care. The hospitals, clinics, & cardiac centres category is projected to command the largest share of the defibrillators market in 2016. But still, the public access markets segment is estimated to grow at the highest CAGR in the aforementioned forecast period.
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By geography, the Asia-Pacific Defibrillators market has been categorized into India, China, Korea, Japan and others. It is third largest in terms of market share. China is the leading market in this region. It is expected to grow at the highest CAGR in the aforementioned forecast period. Conducive government initiatives, improving healthcare infrastructure, growing incidences of cardiovascular diseases, and rising focus of market players are causes attributable to the observable trend mentioned above.
Scope of the report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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Major companies in the Defibrillators market are Medtronic PLC (Ireland), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), LivaNova PLC (U.K.), Koninklijke Philips N.V. (Netherlands), ZOLL Medical Corporation (U.S.), Cardiac Science Corporation (U.S.), Physio-Control, Inc. (U.S.), and Nihon Kohden Corporation (Japan).
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