Report : Asia Pacific Defibrillator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Implantable Cardioverter Defibrillator and External) and End User (Hospitals and Clinics, Prehospital Care, Public Access, Home Care Settings, and Alternate Care Facilities)
Implantable Cardioverter Defibrillator Segment to Dominate Asia-Pacific Defibrillator Market during 2019–2028
According to a new market research study on “Asia-Pacific Defibrillator Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and End User,” is expected to reach US$ 2,865.30 million by 2028 from US$ 1,921.42 million in 2021. The market is estimated to grow at a CAGR of 5.9% from 2021 to 2028. Technological advancements is the major factor driving the growth of the Asia-Pacific defibrillator market. However, cost and performance issues related to implantable and automated external defibrillators may hinder the growth of Asia-Pacific defibrillator market. The report provides trends prevailing in the Asia-Pacific defibrillator market along with the drivers and restraints pertaining to the market growth.
The COVID-19 pandemic has broadly affected economies in Asia Pacific. The supply chain disruptions and the immense demand for efficient treatments of COVID-19 patients have put the healthcare research industry in a crucial situation in the region. Prohibitive measures have been taken to control the spread of this pandemic. A 2020 news report found an increased demand for defibrillators in India amid the pandemic. With heart failure becoming a common reason for the death of critical COVID-19 patients, the demand for defibrillators was fulfilled by various global and domestic players. Jeevtronics, an Indian startup, had scaled up its production capacity from 60 units per month to over 200 units per month to cater to the local and global demand. Also, regional cooperation and donations also saw defibrillators being distributed to countries as an essential medical device for the care of COVID-19 patients. While most nonessential surgeries in regional countries were put on hold or delayed, the demand for defibrillators was constant due to its increased demand among COVID-19 patients.
The Asia-Pacific defibrillator market is segmented into product, end user, and country. Based on product, the market is segmented into implantable cardioverter defibrillator (ICD) and external. In 2020, the implantable cardioverter defibrillator segment held the largest share Asia-Pacific defibrillator market. The implantable cardioverter defibrillator is further sub-segmented into transvenous ICD and subcutaneous ICD. The transvenous ICD segment accounts for largest market share in the 2020. Similarly, the external segment is sub-segmented into manual, wearable, and fully automated external defibrillators. In 2020, the manual segment held the largest share of the market. Based on end user, the Asia-Pacific defibrillator market is segmented into hospitals and clinics, prehospital care, public access, home care settings, and alternate care facilities. The hospitals and clinics segment held the largest share of the market in 2020. Similarly, based on country, the market is segmented into Australia, China, India, Japan, South Korea, and rest of Asia-Pacific. China contributed a substantial share in 2020.
Abbott; Biotronik, Inc; Boston Scientific Corporation; CU Medical Systems, Inc.; Koninklijke Philips N.V.; Medtronic; Nihon Kohden Corporation; Shenzhen Mindray Biomedical Electronics Co., Ltd; and ZOLL MEDICAL CORPORATION are among the leading companies in the Asia-Pacific defibrillator market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, ZOLL Medical Corporation announced a launch of remote view technology on the X Series monitor/defibrillator developed for EMS agencies.
Asia-Pacific Defibrillator Market, By Country, 2020 and 2028 (%)
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