(PharmaNewsWire.Com, August 18, 2021 ) According to the new market research report Defibrillators Market is projected to reach USD 11.7 billion by 2025 from USD 9.6 billion in 2019, growing at a CAGR of 3.4% during the forecast period.
The growth in this market is driven by the rising prevalence of target diseases, growing focus on providing public-access defibrillators, and training and awareness programs on defibrillators. In addition, emerging markets and the development of S-ICDs and MRI-compatible ICDs and CRT-Ds are expected to offer growth opportunities for players in the defibrillators market.
A few major players that have an extensive geographic presence dominate the OTC Braces and supports industry globally. The leading players in the OTC Braces and supports market include Prominent players in the defibrillators market include Medtronic (Ireland), St. Jude Medical (US), Boston Scientific (US), Koninklijke Philips N.V. (Netherlands), ZOLL Medical (US), BIOTRONIK (Germany), Physio-Control (US), Nihon Kohden (Japan), SCHILLER AG (Switzerland), Mindray Medical (China), Mediana (South Korea), and METsis Medikal (Turkey) among others.
The major strategies adopted by these players include new product launches, collaborations & agreements, mergers, investments & expansions. New product launches was the most commonly adopted strategy from January 2017 to January 2020.
In 2018, Medtronic (Ireland) held the leading position in the global ICDs market. The company has a broad product portfolio, a strong geographical presence, and a wide customer base in emerging economies, including Brazil, Russia, India, and China. To maintain its leading position in the market, the company has been focusing on technological advancements in implantable defibrillators. In line with this strategy, in the last three years, the company launched Visia AF MRI SureScan CRT-D, Visia AF single-chamber ICDs, Claria MRI Quad CRT-D SureScan, Amplia MRI Quad CRT-D SureScan, Compia MRI Quad CRT-D SureScan, and Evera MRI SureScan ICD. To leverage the growth opportunities in the emerging markets, the company set up its headquarters in Singapore.
In 2018, ZOLL Medical Corporation (US) held the leading position in the global external defibrillators market with a share of 24.2%. Over the past three years, the company adopted new product launches, agreements, and partnerships as its core business strategies to enhance its share in the external defibrillators market. The company launched the Hospital Wearable Defibrillator, PlusTrac AED Program Management Software, ZOLL R Series Monitor/Defibrillator, ZOLL X Series Monitor/Defibrillator, and ZOLL AED Plus, with a major focus on developing user-friendly and application-specific defibrillators. Furthermore, the company acquired Cardiac Science (US) to strengthen its product portfolio. The company also focuses on partnerships to increase its geographical presence.
Boston Scientific focuses on innovation and product launches in the field of cardiac rhythm management to provide advanced solutions to healthcare professionals for increasing the quality of a patient’s life. The company continuously invests in R&D to launch new and innovative products in the market. Boston Scientific primarily pursues the strategy of new product launches to sustain its position in the global defibrillators market. Regulatory approvals for its MRI-compatible defibrillators and technological advancements in its defibrillators are expected to help the company maintain its leadership position in the defibrillators market.
Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 sales@marketsandmarkets.com
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