Asia Pacific Defibrillator Market

Market Introduction

Asia-Pacific (APAC) is the fastest-growing regional market for Defibrillator; and China, India, Japan, South Korea, Australia, and rest of APAC are the major contributors to the market in this region. Asia Pacific is likely to account for over 18.34% market share of the global defibrillator market in 2021 owing to the growing investments from international players in China and India, improving government support in countries, expanding base of CRO services, and advancing healthcare infrastructure. Therefore, the region holds huge potential for the Defibrillator market players to grow during the forecast period. The medical device industry in China has grown at a faster pace in the past several years. The factors that have enhanced the medical industry in China include continued economic growth, China’s 13th Five-Year Plan that prioritized health and innovation, increased demand for technologically advanced medical devices, significantly rising geriatric population, and growing chronic health conditions among people. In addition, the availability of low-cost and skilled laborers and massive space for production has attracted various market leaders to have their production plants in China. The Population Reference Bureau has projected that by 2050, 366 million people in China will be aged 65 or more. As per the WHO’s Ageing and health in China, in 2019, around 75% of older people that is aged 60 years or older in China suffers from noncommunicable diseases such as cardiovascular disease, diabetes and hypertension. As per the report, published in The Lancet in June 2019, by Zhou et al, the top four diseases in China with the highest mortality rate is stroke, ischemic heart disease, lung cancer, and chronic obstructive pulmonary disease (COPD), which is clearly indication towards the impact of cardiovascular diseases on people of China

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.

Asia Pacific Defibrillator Strategic Insights

Strategic insights for the Asia Pacific Defibrillator provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Defibrillator Report Scope

Asia Pacific Defibrillator Regional Insights

The geographic scope of the Asia Pacific Defibrillator refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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. Rising prevalence of cardiovascular diseases; cardiovascular diseases (CVDs) are the leading cause of morbidity and mortality. Unhealthy lifestyles habits, including tobacco consumption, poor diet, obesity, physical inactivity, and excess alcohol consumption, are the leading causes of CVDs. The surging cases of CVDs result in high demand for defibrillators as an essential tool for resuscitation and care of CVD patients in hospitals. With a rise in national healthcare expenditures and disposable household incomes in various regions, the use of defibrillators is expected to increase further to manage CVDs better. Furthermore, amid such high demands for defibrillators as a vital instrument in hospitals, automated external defibrillators are gaining special traction owing to their suitability in the resuscitation of persons having a sudden cardiac arrest (SCA). Thus, the growing incidence of CVDs drives the demand for defibrillators of all types in hospitals, homes, and other healthcare settings. This is bolstering the growth of the defibrillator market.

Key Market Segments

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.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the defibrillator market in Asia-Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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 among others.

Reasons to buy report

• To understand the Asia-Pacific defibrillator market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia-Pacific defibrillator market
• Efficiently plan M&A and partnership deals in Asia-Pacific defibrillator market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia-Pacific defibrillator market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Asia-Pacific region.

ASIA-PACIFIC DEFIBRILLATOR MARKET SEGMENTATION

By Product

• Implantable Cardioverter Defibrillator
  • Transvenous ICD
  • Subcutaneous ICD
• External
  • Manual
  • Fully Automated External Defibrillators
  • Wearable

By

End User

• Hospitals and Clinics
• Prehospital Care
• Public Access
• Alternate Care Facilities
• Home Care Settings

By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Company Profiles

• Abbott
• Biotronik, Inc
• Boston Scientific Corporation
• CU Medical Systems, Inc.
• Koninklijke Philips N.V.
• Medtronic
• Nihon Kohden Corporation
• Shenzhen Mindray Biomedical Electronics Co., Ltd
• ZOLL MEDICAL CORPORATION