Defibrillators Market Analysis

Wide product range availability to help implantable cardioverter defibrillators (ICD) gain traction

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In 2022, the implantable cardioverter defibrillator (ICD) segment held more than 71% share in the defibrillators market as a result of the broad variety of product diversity, expanded application possibilities, and technical breakthroughs. A 2022 study on ICD’s long-term results found that very few patients underwent S-ICD replacement, indicating future self-terminating shock events pacing indications. These defibrillators can now indicate backup pacing and emergency defibrillation in line with the surging demand for pacing's enhanced benefits.
 

Defibrillators Market Analysis

Defibrillators market from hospitals end-use segment is projected to witness growth at more than 7% CAGR over 2023-2032. The high availability of novel devices that offer advanced therapeutic outcomes and provide convenient post-surgical care among patients with cardiac diseases is expected to elevate the preference for hospitals. Other factors that are primed to drive segment expansion include the increasing cases of cardiac arrest, the surge in the need for ICD implantation procedures, and the accessibility of highly skilled healthcare personnel. According to the Department of Health & Human Services, the U.S. recorded nearly 80% of hospital bed utilization in January 2022.
 

Europe defibrillators market is foreseen to reach a valuation of over USD 6 billion by the end of 2032. The rising occurrence of tachycardia due to hypertension, obesity, and dyslipidemia among the elderly population is slated to escalate the demand for defibrillators. In addition, supportive government spending is set to further accelerate business growth in the region. In December 2022, the Department of Health and Social Care under the UK Government announced intentions on investing £1 million (around USD 1.2 million) in automated external defibrillators (AEDs) to provide access to defibrillators in areas that are most in need.