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 Alter

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)

The defibrillator market in Asia-Pacific is expected to grow from US$ 1,921.42 million in 2021 to US$ 2,865.30 million by 2028; it is estimated to grow at a CAGR of 5.9% from 2021 to 2028. With rising cases of cardiovascular diseases in Asia-Pacific, the defibrillator market players have started to or are expected to strategize their growth planning in Asia-Pacific. Cardiovascular diseases have been among the leading causes of death in countries, such as India and China. Companies such as Abbott, Medtronic, ZOLL, and Biotronik are expected to continue growing in these emerging markets through mergers, acquisitions, and strategic partnerships in the coming years. In April 2020, Medtronic invested and inaugurated the newly relaunched Medtronic Engineering and Innovation Center (MEIC) in Hyderabad, India. Medtronic is considered as a primary job provider in the region and the investment shows the company’s resolve to expand further in the region. Over the years, the establishment of sales subsidiaries in Asia-Pacific by companies such as Nihon Kohden, Medtronic, and ZOLL shows strategic positioning of the companies . Biotronik, with its already established manufacturing plant in Singapore, is looking to implement its research and development activities in the country to further strengthen its business capabilities. Also, tie-ups with regional governments and local bodies to promote their defibrillators will create further growth opportunities for the market players. The number of public-access automated external defibrillator setups is expected to rise in the coming years, with increasing awareness and training of defibrillators and their usage. Also, the demand for implantable defibrillators is expected to see a surge due to the rising number of patients approaching healthcare service providers for the treatment of cardiovascular diseases, elevating national healthcare expenditures, increasing access to care, and improving economics. Nihon Kohden in its 2021 three-year business plan aimed to grow further in Asia. The company aims to expand its resuscitation products market overseas by developing affordable models of defibrillators and providing solutions to improve the utilization rates of AEDs. This shows ongoing and upcoming strategies by various players to expand in emerging markets and strengthen its presence in Asia-Pacific.

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.

Based on product, the market is bifurcated into implantable cardioverter defibrillator (ICD) and external. In 2020, the implantable cardioverter defibrillator segment held a larger share Asia-Pacific defibrillator market. An implantable cardioverter-defibrillator (ICD) is a small battery-powered device that detects and stops irregular heartbeats (arrhythmias) in the chest. An ICD continuously monitors the heartbeat and, if necessary, administers electric shocks to restore normal heart rhythm. ICDs are used to avoid sudden death in patients undergoing fibrillation or persistent ventricular tachycardia. It can help avert cardiac arrest in patients who are at high risk of life-threatening arrhythmias. Next-generation ICDs can also function as a pacemaker. If the heart rate slows, the pacemaker feature can stimulate the heart to beat. The increased demand for ICDs for patients with nonischemic cardiomyopathy has improved survival rates and reduced mortality risk, which is projected to provide opportunities for ICD manufacturers, propelling the market growth. The ICD segment is further bifurcated into transvenous ICD and subcutaneous ICD.

The overall Asia-Pacific defibrillator market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Asia-Pacific defibrillator market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Asia-Pacific defibrillator market. 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 key players operating in the Asia-Pacific defibrillator market.

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