North America Defibrillators Market to Reach $8.1 billion by 2023: P&S Intelligence

North America Defibrillators Market by Product (ICDs [T-ICDs {CRT-Ds, Single-Chamber Defibrillators, Dual-Chamber Defibrillators}, S-ICDs], External Defibrillators [AEDs {Semi-Automated, Fully Automated}, Manual Defibrillators, Wearable Cardioverter Defibrillators]), by End User (Hospitals, Clinics, & Cardiac Centers, Pre-Hospital Care Settings, Public Access Settings, Home Care Settings), by Geography (U.S., Canada) – Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023

NEW YORK, Dec. 11, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, North American defibrillators market is expected to reach $8.1 billion by 2023. Surging geriatric population, rising incidence of cardiac diseases, and growing demand for automated external defibrillators (AEDs) are some of the key factors driving the market growth.

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External defibrillators and implantable cardioverter defibrillators (ICDs) are the two products in the North American defibrillators market. The ICD category is further bifurcated into transvenous implantable cardioverter defibrillators (T-ICDs) and subcutaneous implantable cardioverter defibrillators (S-ICDs). Among these two, T-ICD is expected to be the faster growing category in this market, advancing at a CAGR of 4.3% during the forecast period.

In terms of volume, more than one million units of ICDs are expected to be sold by 2023. This can be attributed to the increasing incidence of sudden cardiac arrests (SCAs), development of technologically advanced ICDs, and growing adoption of S-ICDs and cardiac resynchronization therapy defibrillators (CRT-Ds).

The report further classifies the North American T-ICDs market into CRT-Ds, dual-chamber ICDs, and single-chamber ICDs. The market for CRT-Ds is expected to generate $2.0 billion revenue by 2023, mainly on account of the increasing demand for CRT-Ds for the treatment of advanced heart failure.

On the basis of end user, the North American defibrillators market is categorized into hospitals, clinics, and cardiac centers; public access settings; pre-hospital care settings; and home care settings. Public access settings as an end-user category is expected to observe fastest growth at a CAGR of 5.5% during the forecast period.

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Given the growing awareness about the life-saving potential of defibrillators in case of emergencies, the installation of these devices is increasing in public places such as train stations, schools and colleges, shopping centers, airports, malls, and leisure centers. These defibrillators are also known as public access defibrillators (PADs), as they can be used by anyone during an emergency.

In terms of value, the Canadian defibrillators market is predicted to grow at a CAGR of 4.3% during the forecast period. Increasing government support in the form of funding and initiatives to increase awareness and provide training on defibrillation; presence of a large number of local suppliers; and rising number of SCA cases have boosted the demand for defibrillators in Canada in the last few years.

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The report also provides insights into regulatory scenario, pricing analysis of various types of defibrillators available in the North American market, and reimbursement polices related to these products.

The key players in the North American defibrillators market are Koninklijke Philips N.V., Abbott Laboratories, Boston Scientific Corporation, Stryker Corporation, Medtronic plc, BIOTRONIK SE & Co. KG, SCHILLER AG, Asahi Kasei Corporation, Defibtech LLC and Cardiac Science Corporation.

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