The Europe defibrillator market is expected to reach US$ 3,705.85 million by 2028 from US$ 2,692.93 million in 2021; it is estimated to grow at a CAGR of 4.7% during 2021–2028.
A defibrillator is a medical device used to deliver a dose of electric current to the heart in order to treat life-threatening cardiac dysrhythmias. This current supports restoring the heart to a regular, healthy rhythm. Defibrillators can be implantable, external, transvenous, or subcutaneous based on the type required for the treatment. Some external defibrillators, also known as automated external defibrillators (AEDs), are designed so that even untrained or laypersons will be able to use them. The growth of the Europe defibrillator market is attributed to the factors such as increasing prevalence of cardiovascular diseases (CVDs) and rising training and awareness programs on cardiopulmonary resuscitation (CPR) and automated external defibrillators (AEDs). However, product recalls are likely to affect the market negatively.
Market Insights
Increasing Prevalence of Cardiovascular Diseases (CVDs)
Cardiovascular diseases (CVDs) are likely to remain the most significant cause of morbidity and mortality worldwide. According to the European Cardiovascular Disease Statistics, in Europe only, they account for 1.8 million deaths every year, or 36% of all deaths in the European Union. As per recent estimates, the EU has over 60 million people living with CVDs. Moreover, deaths from CVDs exceed fatalities from cancer (1.3 million every year in Europe; 26% of all deaths). In addition, according to the British Heart Foundation Factsheet 2021, around 7.6 million people are living with heart and circulatory diseases in the UK.
Consequently, heart attacks account for more than 100,000 hospital admissions in the UK each year, equating to 280 admissions every day or one every five minutes. With the advancement of the healthcare system and infrastructure, every 7 out of 10 people survive a heart attack in the UK compared to the 1960s where more than 7 out of 10 heart attacks in the UK were fatal. In addition, over 1.4 million people in the UK approximately 1 million males and 380,000 women have survived a heart attack. Thus, the rising incidence of cardiovascular diseases and heart attacks is expected to drive the European defibrillator market during the forecast period.
Product-Based Insights
Based on product, the Europe defibrillator market is segmented into implantable cardioverter defibrillator and external. The implantable cardioverter defibrillator is subsegmented into transvenous ICD and subcutaneous ICD. Similarly, the external defibrillator segment is subsegmented into manual, wearable, and fully automated external defibrillators. In 2021, the implantable cardioverter defibrillator segment held the largest share of the market. Moreover, the same segment is also expected to grow at the fastest rate in the coming years.
End User-Based Insights
Based on end user, the 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 2021. However, prehospital care is estimated to register the highest CAGR in the market during the forecast period.
Strategic Insights
Product launches and approvals are the commonly adopted strategies by companies to expand their global footprints and product portfolios. Companies in the Europe defibrillator market focus on the collaboration strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name across the world.
Europe Defibrillator Market – by Product
Europe Defibrillator Market – by End User
Europe Defibrillator Market – by Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2,692.93 Million |
| Market Size by 2028 | US$ 3,705.85 Million |
| CAGR (2021 - 2028) | 4.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Defibrillator Market is valued at US$ 2,692.93 Million in 2021, it is projected to reach US$ 3,705.85 Million by 2028.
As per our report Europe Defibrillator Market, the market size is valued at US$ 2,692.93 Million in 2021, projecting it to reach US$ 3,705.85 Million by 2028. This translates to a CAGR of approximately 4.7% during the forecast period.
The Europe Defibrillator Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Defibrillator Market report:
The Europe Defibrillator Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Defibrillator Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Defibrillator Market value chain can benefit from the information contained in a comprehensive market report.
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