Defibrillators Market : Opportunities and Challenges

October 27 18:08 2019
Defibrillators Market : Opportunities and Challenges

Prominent players in the global ICD market included St. Jude Medical (US), Boston Scientific (US), BIOTRONIK (Germany), and LivaNova (UK).
The development of subcutaneous implantable cardioverter defibrillators (S-ICDs) and MRI-compatible ICDs & CRT-Ds will provide a wide range of growth opportunities for companies in this segment, mainly due to the advantages associated with the use of these ICDs over their counterparts.

The global Defibrillators Market is projected to reach USD 10,883.3 million by 2022 from USD 9,323.5 million in 2017, at a CAGR of 3.1% during the forecast period, as per a report by MarketsandMarkets. 

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How development of S-ICDs and MRI-compatible ICDs & CRT-Ds is an opportunity?

The development of subcutaneous implantable cardioverter defibrillators (S-ICDs) and MRI-compatible ICDs & CRT-Ds will provide a wide range of growth opportunities for companies in this segment, mainly due to the advantages associated with the use of these ICDs over their counterparts. S-ICDs are small and less invasive than other defibrillators. In an S-ICD, leads are not inserted into the heart—it instead detects abnormal electrical activity inside the heart with the help of surface electrical waves. The S-ICD implantation procedure is also less invasive than that of other defibrillators, as it does not involve fluoroscopy guidance. The wires of the system do not affect vasculature, which helps in reducing the chance of causing a bloodstream infection in patients. S-ICDs are also associated with limited radiation exposure and provide 80 Joules of shock as compared to 40 Joules generated by T-ICD systems. Furthermore, an S-ICD provides a novel approach to patients who cannot undergo transvenous lead placement. Owing to its beneficial and advanced features, the demand for these devices is expected to increase across the globe. Thus, key market players can focus on developing advanced and innovative S-ICDs to overcome problems/issues associated with the currently marketed devices and cater to the expected demand for these defibrillators in the future.

Why lack of awareness about sudden cardiac arrest in developing nations pose a challenge?

Sudden cardiac arrests (SCAs) are among the leading causes of death across the globe. However, despite the heavy burden of SCA, awareness is still limited. This acts as a major restraining factor for the defibrillators market.

According to the Heart Rhythm Society, more than 60% of African-Americans who have experienced symptoms of heart disease do not visit a doctor. Additionally, people in developing countries ignore heart diseases due to a number of factors, including the high cost of treatment, illiteracy, and poor access to healthcare.

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Thus, lack of awareness about SCA, coupled with low healthcare budgets in many countries, is limiting the adoption of AEDs in public places.

Browse Related Reports:

Cardiac Monitoring & Cardiac Rhythm Management Devices Market by Product (ECG, Cardiac Output Monitoring, ILR), CRM [ICDs, External Defibrillator, Pacemaker (Dual Chamber Pacemaker)], End User (Home and Ambulatory, Hospital) – Global Forecast to 2022

Refurbished Medical Equipment Market (X-Ray, Ultrasound, MRI, CT Scanner, Nuclear Imaging Systems, Heart-Lung Machine, Surgical, CO2 Monitor, Patient Monitor, Pulse Oximeter, AED Defibrillator, Cath Labs, Neonatal, Endoscopy) – Global Forecast to 2021

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