The lifestyle of people has changed drastically over the past few years, and the surging consumption of high-calorie food, sedentary lifestyle, increased obesity levels, and growing consumption of tobacco has resulted in the rising incidence of heart-related ailments. While before heart-related diseases used to affect aged people, these days, youngsters and adults are also being affected by these diseases. As per the World Health Organization, about 17.9 million people died because of cardiovascular diseases in 2016, which represented 31% of the total number of deaths across the globe.
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Attributed to this, the demand for defibrillators is increasing around the world. Defibrillators are medical devices which are needed for restoring normal heartbeat by sending an electric shock or pulse to the heart. They are majorly utilized for preventing or correcting arrhythmia, a heartbeat which is uneven, too fast or too slow. These devices can also be of help if the heart stops suddenly. According to a report by P&S Intelligence, the global defibrillator market size is predicted to $20,281.6 million by 2030, rising from $9,621.2 million in 2019, and is projected to advance at a 7.2% CAGR during the forecast period (2020–2030).
Browse full report at: https://www.psmarketresearch.com/market-analysis/defibrillator-market-forecast
The two types of defibrillators are external defibrillators and implantable cardioverter defibrillators (ICD), between which, the demand for ICDs was higher in the 2019. This can be ascribed to the rising number of product launches and increasing focus of companies in the domain on technological advancements. ICDs are further of two types, namely subcutaneous implantable cardioverter defibrillators and transvenous implantable cardioverter defibrillators. These devices are made for both adult and pediatric use, however, the need for these devices is higher for adult patients and the situation is expected to remain the same in the years to come as well.Geographically, the defibrillator market is being dominated by North America, and the region is also predicted to create the largest demand for these devices in the years to come as well. This can be attributed to the rising investments by public and private organizations for supporting research and development for defibrillators. In addition to this, the presence of major companies, highly advanced healthcare infrastructure, and favorable reimbursement policies, allowing patients to afford expensive medical care, in the region are also resulting in the increasing demand for defibrillators.
In conclusion, the changing lifestyle of people, resulting in increasing incidence of cardiovascular diseases, is resulting in the growth of the market.
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