The ultimate goal of the market is to minimize the mortality surrounded by cardiac emergencies, offer quicker answering mechanisms, and even increased accessibility of defibrillators in clinical and non-clinical situations. As cardiac disease incidences are rising and due to technological breakthrough in linking of the devices, the market of the defibrillators is growing at a very high rate in all important regions.
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Market Drivers
- Rising rate of sudden cardiac arrest (SCA) around the globe
Sudden cardiac arrest (SCA) is a significant health problem, which is estimated to cause 1520 percent of all deaths in industrialized nations. The American Heart Association notes that cardiac arrest that takes place outside hospitals in the U.S. has a survival rate of less than 10 percent and there are more than 356, 000 cases of cardiac arrest per year. This is a frightening figure that demonstrates the importance of providing immediate defibrillation and has spurred investment by individuals and organizations to increase access to AEDs in schools, inside airports, offices and sports stadiums.
- Technological Evolution and Integration of IoT
The defibrillator market is changing rapidly as connected devices continue to roll out that combine functions such as automatic heart rhythm analysis, verbal instructions, cloud-based data with a phone or app companion to become better use for first responders. For example, smart AEDs are now able to provide real-time CPR feedback and alert through the cloud for maintenance updates, saving lives. Companies like Philips and ZOLL Medical are at the forefront of this industry change, creating class demand for next-generation defibrillation systems among hospitals and first responders.
Application Segment Analysis: Sudden Cardiac Arrest
The sudden cardiac arrest application segment is the largest and fastest growing defibrillator application segment, as it is a prominent cause of worldwide mortality. SCA events often take place with no prior symptoms and chances of survival can increase by up to 70% when immediate defibrillation can be provided within 3–5 minutes. As such, governments and NGOs are paving the way for educational SCA awareness and advocate for community based AED programs.
Furthermore, hospitals and ambulatory medical services continue to invest in manual defibrillators, and obtain, separate wearable devices for monitoring post-cardiac event activity, while avoiding it in the event of the injury, and reflects to the sudden cardiac arrest segment. The profile set of this segment is further supported by policy mandates in the U.S., Europe, and Japan, by requiring access and installation of defibrillators in public areas.
Distribution Channel Segment Analysis: Direct Sales Channel
Even though national purchasing and public-private partnerships can help to streamline demand, the direct sales channel segment will likely be the highest performing distribution channel due to quality device deployment, technical training, and after-purchase service. These things are important for hospitals and emergency service providers. Many large healthcare entities prefer to purchase directly from manufacturers so they provide certified support instead of third-party companies, volume pricing, and upgrades timely. Because there are more demands on the software side of the devices, both technology and IoT (Internet of Things), the direct sales channel provides a more sustainable option than retail and/or third parties, as buyers will expect more long-term support from manufacturers. Most leading defibrillator brands have developed B2B sales channels that are tailored to long-term contract agreements with hospitals, ambulatory surgical centers, and emergency responders.
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Regional Analysis: North America and Europe
The North American defibrillator market is the leading defibrillator market on a global level for multiple reasons, including the level of awareness, access to reimbursement, and quality of emergency healthcare systems. The United State's government is also supportive of public access AED (Automated External Defibrillator), and it continues to escalate the buildout of ICDs (Implantable Cardioverter Defibrillator) in cardiac patients. According to the CDC, every year, there are nearly 805,000 heart attacks in the United States, leaving patients, hospitals, and emergency services grappling for inpatient and portable defibrillators.
The European region of the global defibrillator market also follows closely behind demand, especially in countries such as Germany, the UK, France, and Scandinavia, where public health systems individualize the strategies for prevention of SCA (Sudden Cardiac Arrest) situations. European Resuscitation Council (ERC) guidelines have made placing AEDs mandatory in many public buildings. Additionally, The increase in cardiovascular implant procedures is increasing the demand for both implantable and wearable defibrilators in particular, for older-age populations.
COMPETITIVE LANDSCAPE AND INDUSTRY PLAYERS
The defibrillator market, as a lucrative space being chased by multiple companies, is tightly competitive and focused on innovation. Companies are focused on the reliability of the product, the speed of delivering the shock, cloud-connected technology and lifetime of the devices, as well as their integration into the patients' electronic devices and health records.Key Players:
Medtronic plc
ZOLL Medical Corporation (Asahi Kasei)
Philips Healthcare
Stryker Corporation
Cardiac Science Corporation
Biotronik SE & Co. KG
Nihon Kohden Corporation
Schiller AG
These companies have invested heavily in notifier-enabled shock decisions, optimization of device battery life, and provision of automated maintenance tools. Strategic moves are being made largely through mergers (as in ZOLL–Cardiac Science), establishing global distribution agreements, and pursing emerging Asia-Pacific and LATAM markets that have high and accelerating burdens of cardiovascular disease.
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