The growing prevalence of cardiac diseases is causing a sharp surge in the sales of defibrillators across the world. The adoption of sedentary lifestyles, the mushrooming consumption of food items that are very high in calories, the increasing obesity levels of people, and the rising smoking habits in several countries are the main factors fueling the prevalence of various heart-related diseases around the world. As per the World Health Organization (WHO), cardiovascular diseases are the major cause of worldwide deaths.
Furthermore, the organization found that around 17.9 million people lost their lives because of cardiovascular diseases (CVDs) all over the world in 2016. Moreover, CVDs accounted for 31% of the total number of deaths that occurred globally in 2016. Heart attacks and strokes were responsible for 85% of these deaths. As per the 2017 Heart Disease and Stroke Statistics report published by the American Heart Association (AHA), in the U.S., CVDs are responsible for one out of every three deaths.
This represents around 800,000 deaths all over the country every year. Coronary heart diseases (CHDs), heart failures, and strokes account for the majority of the deaths caused because of cardiovascular diseases. Apart from the rising prevalence of CVDs, the surging population of geriatric people in various countries is also fueling the demand for defibrillators across the world. With increasing age, people become highly vulnerable to chronic diseases such as cardiovascular diseases.
As a result, they often require emergency or regular medical care, which is massively propelling the sales of defibrillators around the world. Besides these factors, the rapid technological advancements and innovations being made in defibrillator technology are also propelling the demand for defibrillators, which is, in turn, driving the expansion of the global defibrillator market. The value of the market is predicted to surge from $9,621.2 million in 2019 to $20,281.6 million by 2030.
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Furthermore, the market will demonstrate a CAGR of 7.2% between 2020 and 2030, as per the estimates of P&S Intelligence, a market research company based in India. Implantable cardioverter defibrillators (ICDs) and external defibrillators are the majorly used types of defibrillators all over the world. Between the two, the demand for ICDs is predicted to soar sharply in the forthcoming years, primarily due to the advancements and innovations being made in the technology.
Furthermore, ICDs are built for treating fast heart rates, continuously monitoring the heart of the patient, and restoring the heart rhythm to the normal rate. Across the globe, the sales of defibrillators will surge sharply in North America in the upcoming years. This will be because of the soaring geriatric population and the increasing implementation of various initiatives by public and private organizations for supporting research and development activities on defibrillators in the region.
Hence, it can be said with full confidence that the demand for defibrillators will skyrocket all over the world in the years to come, mainly because of the growing incidence of heart diseases and the increasing geriatric population in several countries.
