Medtronic (Ireland) and ZOLL Medical Corporation (US) are the Key Players in the Defibrillators Market
The global defibrillators market is projected to reach USD 11.7 billion by 2025 from USD 9.6 billion in 2019, at a CAGR of 3.4%. 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.
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).
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Medtronic (Ireland) held the leading position in the global ICDs market in 2018. 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.
ZOLL Medical Corporation (US) held the leading position in the global external defibrillators market with a share of 24.2% in 2018. 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.
Related Reports:
Defibrillators Market by Product [Implantable Cardioverter Defibrillator (Transvenous ICD, Single & Dual Chamber, CRT-D, S-ICD), External (Manual, AED, Wearable)], End User (Hospitals, Pre-hospital, Public Access, Home care) - Global Forecast to 2025
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