Remote Patient Monitoring Market Size , Share and Forecast upto 2024

Remote Patient Monitoring Market Overview

Remote patient monitoring is the concept of assimilating, sorting and transmitting the health data across the care continuum in a virtual manner. There has been a significant increase in the aging population in the last decade across major economies in Europe and North America. The onset of chronic diseases such as diabetes and cancer have put immense burden on different healthcare systems. Remote patient monitoring assists healthcare providers to reduce hospital time and decrease readmissions for patients, which eventually helps in providing quality care in an affordable manner.

Rampant integration of Internet of Things (IoT) and high smartphone penetration augmenting market growth

Increasing smartphone penetration has created a shift towards a more techno-savvy approach to healthcare and it has enabled the healthcare providers to deliver quality care with less human intervention. As per the data published by PeW Research Center, 92% of the population in the U.S. use smartphones and 45% use tablets. Internet of Things is going to play a crucial role in the healthcare sector over the following decade as technology adoption intensifies across the world. The advantage with remote patient monitoring is that the providers have access to real-time patient data collected from wearable devices such as smart watches, wearable devices, smartphone apps and fitness trackers. The patient will have better control over the data and the ability to manage his/her own health through this novel technology, a factor that is projected to drive market growth at global scale.

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Remote Patient Monitoring is slowly becoming an indispensable part of the Healthcare systems in North America and Asia Pacific

The healthcare spending reached US$ 3.2 trillion at the end of 2015. Remote patient monitoring holds the promise of reducing the excessive healthcare spending, as the U.S. transitions from volume-based model to value-based model. Integration of the system would lead to savings of US$ 700 billion over the course of 15-20 years. The study conducted by St. Jude Medical concluded that remote patient monitoring can lead to savings of US$ 370,000 per 100 patients. The U.S. government introduced the concept for Department of Veteran Affairs that serves 8.3 million people. The cost of treating a veteran through this technology was estimated to be US$ 1,600 per year, which is incredibly low in comparison to direct care and hospital based care. This creates a highly conducive environment for growth of the remote patient monitoring market, especially in developed regions.

The study conducted by Canada Health Infoway found that the use of remote patient monitoring led to reduction in hospital readmissions and improved health outcomes, with patients being able to manage healthcare from remote locations. The market is witnessing an upswing in Canada as patients receive quality care at lower costs. Remote patient monitoring enables patients to keep a check on their vital health signs and undertake required treatment without delay. The patients are constantly notified about their health status that eliminates the need for regular hospital visits. The remote patient monitoring market is projected to flourish in North America, as the healthcare sector embraces technology for delivering better outcomes.

In emerging economies such as India, where more than 60% of population lives in rural areas, demand for remote patient monitoring increases substantially. Lack of skilled professionals and hospital infrastructure will drive growth of the remote patient monitoring market in India. China is a lucrative market for remote patient monitoring as the government is working on reducing over-utilization of hospital resources in tier 1 cities to treat patients. Chinese government is aiming to provide quality care to a significant population base in a remote manner across the rural areas. Such digitization of healthcare will play a crucial role in taking forward the market in China.

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Emergence of new players will change the existing market dynamics as they continue to compete with existing key players

Key players in the remote patient monitoring market include Biotronik, Honeywell, Boston Scientific Corporation, Medtronic, and Philips Healthcare. The market has been in a state of consolidation, with the top 5 companies accounting for more than 60% of global market share. The industry is currently undergoing a dramatic shift as venture funded startups such as Healthsense, Foundry,Vivify Health and EarlySense are starting to create strong foothold in the market. In 2013, 12 startups cumulatively raised an estimated US$ 100 million in venture funding to support business expansion. The remote patient monitoring industry will continue to expand as healthcare continues to shift towards digitization.

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Surgical Scalpel Market Size ,Share and Forecast upto 2025

Surgical Scalpel Market Overview:

Surgical scalpel is a small, extremely sharp bladed tool, which is used for a variety of purposes such as surgery and anatomical dissection. Scalpels may be of two types, single-use or disposable scalpel and reusable scalpel. Reusable scalpels have fixed blades that can be sharpened or may have removable single-use blades that are attached permanently. Disposable scalpels generally have a handle made of plastic with an extensible blade and only once, after which the entire instrument becomes redundant. Scalpel blades are generally packed in sterile pouches.

Scalpel blades are typically made of tempered and hardened steel, high carbon steel, or stainless steel. Ceramic, diamond, titanium, and obsidian knives are common. For instance, when a surgeon performs a surgery under MRI guidance, steel blades are unsuitable, as the blades may get attracted to the magnets and cause image artifacts. Traditionally, the material of choice for surgical scalpels used to be silver, because of its antimicrobial properties. Scalpel blades are offered by few manufacturers with a zirconium nitride-coated edge in order to improve sharpness and prolonged edge retention. Other vendors’ blades are generally polymer-coated which enhances lubricity during a cut. Some of the alternatives to scalpels in surgical applications are electrocautery and lasers, among others.

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Some of the market trends that are likely to fuel the growth of the surgical scalpel market are rising incidence of cardiovascular as well as neurological diseases. Moreover, rising demand for minimally invasive procedures coupled with recent technological developments in the field of surgical scalpel are some of the other factors that will drive the surgical scalpel market in the near future.

Another driver that the increasing demand for surgical tools owing to increasing number of surgical procedures along with rising occurrence of various chronic diseases, as well as increasing geriatric population. Furthermore, increasing healthcare expenditure, rising demand for plastic and reconstructive surgery and growing demand for innovative surgical procedures are expected to propel the surgical scalpel market growth during the forecast period. Lack of proper reimbursement for surgical equipment, especially in the developing economies may affect the market negatively.

Surgical scalpel market taxonomy

On the basis of number of type,

  • Blades

  • Number 6 to number 12

  • Number 13 to number 18

  • Number 19 to number 24

  • Number 25 to number 34

  • More than number 34

  • Handle

On the basis of end-user,

  • Hospitals

  • Clinics

  • Surgical Centers

  • Others

High growth in the number of surgeries and rise in geriatric population will drive the overall surgical scalpel market

The increasing volume of surgical procedures across the globe is likely to drive the overall growth of the surgical scalpel market during the forecast period. Surgeries are conducted to manage various diseases such as gastrointestinal diseases, cardiovascular diseases, spinal abnormalities, urological disorders, orthopedic deformities, and brain tumors. The significant growth in the number of surgeries, especially in the European countries will help in the growth of the general halogen surgical ceiling lights market in this region. For example, the amount of laparoscopic colostomy surgeries tripled in Spain and doubled in Slovenia between 2008 and 2014. Different types of surgeries performed in various ASCs or ambulatory surgical centers include hernia procedure, cervix and uterus removal, transurethral excision, lens and cataract, and hysterectomy. The increase in geriatric population as well as the growth in the number of surgeries will fuel the growth of the surgical scalpel market in the near future.

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By geography, North America held the maximum share of the market in 2016 and is likely to continue its dominance during the forecast period. The rising demand for surgery in labor patients is anticipated to propel the market growth as well. According to a report by Centers for Disease Control and Prevention (CDC), around 3,984,502 child births, including caesarean and vaginal took place in 2016 in the U.S. alone.

Some of the companies operating in the surgical scalpel market in the current scenario are Hill-Rom, KAI Group, Swann-Morton, Shanghai Surgical, Feather, Mani, Geister, Surgical Specialties, BD, Shinva, SteriLance, Ailee, Hu-Friedy, and Huaiyin Medical.

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Cosmeceuticals Market Size ,Share and Forecast upto 2024

Cosmetics and pharmaceuticals together make cosmeceuticals. A cosmeceutical has the active potential ingredient to bring about visible changes to the skin, and these changes are backed by clinical indication. Cosmeceutical products are marketed as cosmetics, though they comprise biologically active ingredients that provide medicinal or drug-like properties. For example, anti-wrinkle skin creams includes ingredients such as alpha lipoic acid and dimethylaminoethanol and creams containing cellular replacement serum that claim to have anti-aging properties. The cosmetic industry coined the term, though the US FDA does not recognize the term cosmeceuticals. A cosmetic product will effectively maintain skin quality by providing somewhat temporary results. It may contain active ingredients, though concentration of these actives is usually negligible. A cosmeceutical product differs from such cosmetic products, as it has a high concentration of active ingredients and usually comprises various active ingredients. This formulation can bring about visible changes to the skin making it a results-focused product. Cosmeceutical products are restricted to professional skin care vendors where a consultation can be provided.

The cosmeceuticals market includes a large category of cosmetic products that have drug-like benefits. Varity of cosmeceuticals products available in the market include lip care, skincare, tooth whitening, hair care, injectable and others. The skincare segment holds a prominent share and is followed by hair care segment. In the skincare segment, anti-ageing products are most popular and hence, gross maximum revenue.

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Cosmeceuticals Market Outlook: Developed Regions Still Offer Lucrative Growth Opportunities

The global cosmeceuticals market is expected to witness strong growth over the forecast period, owing to rising consumer awareness regarding the benefits of cosmeceuticals. Among all regions, North America is projected to contribute the highest market share, followed by Europe throughout the forecast period. The well-developed healthcare infrastructure and high per capita income in the U.S., drives growth of the cosmeceuticals market size. The Asia Pacific market in cosmeceuticals is projected witness highest growth during the forecast period, due to large middle-aged population (the largest demographic group in the market) and increasing disposable income in this region. In Asia Pacific region, Japan is expected to contribute largest market share and to exhibit with highest growth, followed by China.

Increasing inclination towards maintaining personal aesthetics and increasing number of urban population together with rising consumer awareness related to benefits of cosmeceuticals

Integration of advanced technologies such as nanotechnology, plant stem cell technology, and the development of new active ingredients are spurring growth of the global cosmeceuticals market. Large middle age population and baby boomer generation are inclined towards maintaining their personal aesthetic appeal, in turn fueling growth of the global cosmeceuticals industry. Furthermore, development of new active ingredients will create opportunities for global market. A major factor that restraints growth of the cosmeceuticals market is growing consumer awareness related to harmful effects of ingredients used in cosmeceuticals.

In cosmeceuticals, only Federal Trade Commission (FTC) works to scrutinise any advertised claims of pharmaceutical products or scientific validity. Opportunities in cosmeceutical market development are those that provide protection of skin from radiation and also oxidant damage by non-irritating ingredients which improve skin appearance.

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Cosmeceuticals Market Taxonomy

On the basis of product type, the cosmeceuticals market is classified into:

    • Skin Care

    • Hair Care

    • Injectable

    • Cosmeceuticals Products

On the basis of ingredient, the cosmeceuticals market is classified into:

    • Antioxidants

    • Proteins

    • Peptides

    • Botanicals

    • Moisturizers

Key players operating in the global cosmeceutical market include Croda International Plc, Bayer, Procter & Gamble, Beiersdor, Johnson & Johnson, Shiseido, Elementis, Unilever, L’Oréal, and Avon.

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Venipuncture Needle and Syringes Market Size, Share and Forecast upto 2024

Venipuncture Needle and Syringes Market Overview :

Venipuncture is a perforation on a vein as part of a medical practice, basically to draw a blood sample and or to inject a drug into the body. This is done by intravenous cannulation. The venipuncture blood collection is carried out with the help of needle and syringes. Venipuncture is the oldest invasive procedures, which is carried out for five basic reasons and they are to collect blood for investigative purposes, identify the levels of blood components, and administer medications, nutrition, or chemotherapy, to eliminate blood due high presence of iron or erythrocytes and to collect blood which might be useful later in transfusion purpose. This can be possibly done with the use of venipuncture needle and with the immense increase in the blood test and blood collection, there is a proportional increase in the venipuncture needle and syringe market.

Excessive blood withdrawn may lead to hematocrit in older patients

According to Van Roekel, CEO Nuno Valentine, said that there are about half of doctors do not have sufficient funds to support a phlebotomist, and some are located in an area where there are no staff sufficient members. Mr. Kapadia, a chief medical officer of Iggbo, explains that bloodwork justifies about 75% if the medical decision. According to Van Roekel, there are 1 billion blood sample are drawn in the United States every year and out of which 50,000 blood draws in Houston daily. There are many literature stating that the excessive blood drawing from an individual causes a big setback in elderly person. A cohort study report states that public hospitals and university hospitals drew more blood for each test than that is followed in children’s hospitals. For the basic metabolic tests, the volume of blood drawn by an university or public hospital laboratory was 2.5 to 10 times more required by any children’s hospital, though there are similar tests and instruments used. Excess withdrawn of blood may lead to change in hematocrit which may lead to a down fall in elderly patient health. This is a major concern in the increasing number of older persons.

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Median Cubital Vein to dominate the venipuncture needle and syringes market globally

The global venipuncture needle and syringes market is segmented on the basis of vein type, end user, and geography. On the basis of vein type, the market is divided into Cephalic Vein, Median Cubital Vein, and Basilic Vein. On the basis of end user, the market is divided into Hospitals, Diagnostic Labs and Physicians’ Offices.

Advanced syringe and methods to collect the blood sample to overtake the conventional way of blood collection emphasizing the growth in venipuncture needle and syringes market

Regional segmentation of the market by Coherent Market Insights comprises North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounts for the largest share in venipuncture needle and syringes market, mainly due to presence of key players and their application of advanced medical technologies to develop in countries such as the North America and Africa. Increase in the diagnostic test for any disease needs blood sample which therefore is useful to obtain results. Therefore, the use of venipuncture needles and syringes are proportionally increasing. In Africa according to World Health Organization, it is almost 85% of all the chronic disease needs blood test.

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Key players in the global venipuncture needle and syringes market are developing new devices, which collect the required amount of blood

Key players operating the venipuncture needle and venipuncture syringes market include Smiths Medical, Becton, Dickinson and Company, and B. Braun Medical. Key players in the market globally are constantly working towards introducing innovative products which firstly identify veins and collect blood sample. With companies actively focused on research and development, a new product which is virtually painless way to draw blood. This company is expected to launch its product in mid 2017 as the company has responded to its pending queries from FDA.

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Global Interventional Neurology Market – Global Industry Insights, Trends and Forecast to 2024

The Global Interventional Neurology Market is projected to reach USD 2,684.6 million by 2024, according to a new report by published by Coherent Market Insights. Recommendations from the American Heart Association and American Stroke Association to use neurointerventional devices in stroke is a major factor boosting market growth.

Increasing demand for minimally invasive procedures is one of the prime factors driving adoption of neurointerventional devices worldwide. The American Heart Association and American Stroke Association recommends use of neurointerventional devices in treating stroke, due to which there has been an augmented demand for these devices in the recent past. In order to capitalize on this highly lucrative growth opportunity, a range of new products such as Solitaire stent retriever, EmboTrap stent retriever, and Penumbra 3D Revascularization Device have been launched in the recent past.

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Developed economies such as the U.S., Canada, U.K., Australia, Japan, and Germany are witnessing rapid shift from conventional surgical methods to minimally invasive therapies. Moreover, there is a shift towards adopting detachable and bare platinum coils as against the highly priced coated coils. According to the Brain Aneurysm Foundation, around six million people in the U.S. i.e. one in 50 people suffer from brain aneurysm every year. High incidence rate of stroke and aneurysm is expected to continue strengthening demand for neurointerventional devices in the U.S. market.

The global Interventional neurology market is witnessing strategic agreements among leading players focusing on diversifying their product portfolio and increasing their market presence.

  • In 2016, Codman & Shurtleff, Inc. inked an exclusive distribution agreement with InNeuroCo, Inc. for its intermediate catheter and super distal access device in the U.S. and European markets
  • In 2015, Medtronic PLC acquired Lazarus Effect, a California-based medical device company engaged in development of acute ischemic stroke products for around US$ 100 million. Lazarus Effect was acquired with an aim to enhance Medtronic’s neurovascular business and related portfolio.

Advent of innovative solutions that enhance the outcomes of surgeries are fueling demand for neurointerventional devices

  • Medical University of South Carolina (MUSC) is investigating the safety and success rate of ADAPT – direct-aspiration first pass technique that removes the clot in a single-pass
  • FDA expanded the approval of Solitaire stent retriever device of Medtronic PLC for reduction of stroke-related disability. This device can now be used in patients with large vessel occlusion, proximal anterior circulation, and smaller core infarcts to reduce paralysis, and other stroke-related disabilities.
  • CE approved EmboTrap stent retriever platform, the EmboTrap II Revascularization Device from Neuravi Ltd. This new device enables removal of clots of different lengths with ease.

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Key takeaways of the market include:

  • There are a range of neurointerventional devices such as embolic coils, carotid stents, intracranial stents, neurovascular thrombectomy devices, embolic protection devices, and flow diverter devices available in the market. Embolic coils was the largest segment and accounted for 32.5% share (in terms of revenue) in 2015. This is mainly due to these being the mainstay of endovascular treatment for brain aneurysms and hemorrhage.
  • Demand for stent retrievers is anticipated to grow at a rapid pace during the forecast period (2016 – 2024). This is mainly attributed to these being used as a one-step technique for device deployment and clot retrieval. The launch of this device in Japan is anticipated to also contribute towards the market growth in Asia Pacific.
  • Introduction of new techniques such as flow disruption and ADAPT aspiration technique is expected reduce the revenue share of coiling technique segment, and is projected to account 34.3% of the total market revenue by 2024
  • Demand for neurointerventional devices is analyzed to be high in hospitals as compared to ambulatory centers, due to growing number of surgical procedures in hospitals. The hospitals end use segment is analyzed to expand at a CAGR of 5.2% during the forecast period.
  • In 2015, North America dominated the global Interventional neurology market, with the contribution of the region estimated at US$ 701.9 million. Increasing incidence rate of brain aneurysm and ischemic strokes along with favorable government policies such as Medicare and Medicaid is expected to bolster sales of interventional neurology devices over the forecast period.
  • Growing focus on introducing technological advanced devices is expected to drive market growth in the long run
  • Stryker Corporation’s subsidiary Concentric Medical’s Trevo XP ProVue Retriever received FDA approval for its use in strokes in November 2016
  • Penumbra 3D Revascularization Device Trial successfully met the primary trial endpoints in 2016

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Gonorrhea Diagnostic Market Outlook, and Opportunity Analysis, 2016–2024

Ease of Testing: Can be done on non-invasive and self-collected specimens

Sexually transmitted Diseases (STDs) are one of the leading health problems globally, affecting the quality of life and triggering serious morbidity and mortality. Gonorrhea is the most common among the various sexually transmitted diseases with the age group of 15 to 24 years being the largest affected group. Around 350,062 gonorrhea cases were reported in the U.S. in 2014, with the national gonorrhea rate increasing to 110.7 cases per 100,000 population. There are major complications when infected with sexually transmitted infections, which have a detrimental effect on the reproductive system and can adversely affect health of the child conceived by an infected mother. Infertility, cancers, and pregnancy complications are among the major complications that can arise from the disease. Symptoms of gonorrhea in men include painful urination, swelling of testicles and pus discharge. In women, symptoms encompass excessive vaginal discharge, painful urination, and abdominal pain. Various complications such as ectopic pregnancy, Pelvic Inflammatory Disease (PID) and Epididymitis are most common among females.

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Thus, these complications further indirectly impact through facilitating sexual transmission of deadly virus such as human immunodeficiency virus (HIV) and therefore, it also significantly adds to disease burden. In 2012, approximately 357 million new cases of curable STIs (gonorrhea, chlamydia, syphilis and trichomoniasis) were reported worldwide, which include 78 million cases of gonorrhea occurring at the age group of 15–49 year-olds. More than a million Sexually Transmitted Infections are acquired every day of which around 50% infections turn into Sexually Transmitted Diseases.

Uncomplicated Gonorrhea: Developing Drugs for Treatment

Factors driving growth of the gonorrhea diagnostic market include increase in transmission of sexually transmitted infection. For instance, according to Centers for Disease Control and Prevention data on STD Surveillance Report, in 2013, there were around 1.4 million reported cases of chlamydia, a rate of 456.1 cases per 100,000 population and in 2014, there were 350,062 reported cases of gonorrhea (a rate of 110.7 per 100,000) in the U.S.  Lack of biomedical products is a serious factor contributing to high incidence rate of STDs in low income countries. For instance, estimates by the International Conference on Population and Development (2011), for Sub-Saharan Africa, indicates that only nine organizations donated condoms per year to people in the age group of 15–49-years and that only one female condom per year is available for every 10 women of the same age range. Condom supplies in many high-burden countries are still inadequate. Lower treatment cost for the test, where STI prevention counseling and HIV screenings are some of many free preventive care benefits under the Affordable Care Act, though the tests themselves may cost you. In the U.S., private health centers charge up to US$ 79 for individual STI tests and US$ 249 for comprehensive STI tests. The Florida Department of Health, for instance, charges only $45 for its comprehensive STI test. However, lack of STI prevention counselling and dearth of trained laboratory specialists are some of the factors restraining growth of the global gonorrhea diagnostics market.

Artificial intelligence and diagnostic imaging are in the testing phases and expected to dominate the gonorrhea diagnostic market

The global gonorrhea diagnostic market is segmented on the basis of diagnostic type, end user, and geography. On the basis of diagnostic type, the gonorrhea diagnostic market is divided into diagnostic imaging, molecular diagnostics, flow cytometry, chromatography, gel micro droplets, liposomes, differential light scattering (DLS), artificial intelligence, and monoclonal antibodies test. Molecular Diagnostic is sub-segmented into Nucleic Acid Amplification Tests (NAAT) and swab tests.

On the basis of end user, the gonorrhea diagnostic market is classified into hospitals, ambulatory surgical centers, diagnostic centers, clinics, and others.

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Gonorrhea diagnostic market traction is expected to be fueled by Growing Prevalence of STDs in Asia Pacific

Regional segmentation by Coherent Market Insights comprises North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounts for the largest market share, mainly due to presence of major players and adoption of advanced medical technologies in countries such as U.S. and Canada. In 2013, according to the U.S. Center for Disease Control and Prevention (CDC) there were over 3.3 million cases of gonorrhea registered. Europe is the second-largest gonorrhea diagnostic market, owing to the increasing prevalence of the disease in the region and largely unmet needs in effective diagnosis and treatments. In 2013, according to European Centre for Disease Prevention and Control, 52,995 gonorrhea cases were reported across 28 countries in the region; 61% of all cases were reported in the U.K. Growing disposable income and increasing awareness levels among the populace in Asia Pacific, along with a large population base is expected to drive the market in Asia Pacific in the near future.

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Licensing approval: Approved for endocervical, vaginal, urethral, urine specimens

Key players operating the gonorrhea diagnostic market include Becton, Dickinson and Company, Baxter International, Inc., Pfizer Inc., B. Braun Melsungen AG, Fresenius SE & CO. KGaA, Medtronic plc, Smiths Group plc, Terumo Corporation, Moog, Inc., F. Hoffmann-la Roche Ltd., and Johnson & Johnson. Major companies in the market are constantly working towards introducing innovative tests and lower the costs in order to improve patient outcomes and enhance profitability.

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Defibrillators Market to Surpass US$ 21.2 Billion by 2024

The Global Defibrillators Market was valued at US$ 11.8 million in 2015 and is projected to expand at a CAGR of 6.0% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Rise in number of deaths related to cardiovascular on the backdrop of rise in prevalence of sudden cardiac arrest (SCA) among all the cardiovascular disorders is expected to be a major factor to support the defibrillators market over the forecast period.

In 2015, the U.S. FDA approved wearable defibrillator for children at risk of sudden cardiac arrest. According to Sudden Cardiac Arrest Foundation, in the state of Minnesota from 1993 to 2012, the incidence for the high school athletes suffered from cardiac death was .24 per 100,000. According to American Heart Association, in 2011, around 326,200 people in the U.S. experienced cardiac arrests at home or at workplace. Only around 10% among them were successfully revived by emergency medical services. Companies are focused towards product advancement regarding the lead time of device replacement. According to the U.S. FDA there have been incidents reported in the past, wherein the patient is unable to get the three months lead time for battery replacement. St. Jude Medical has reported that in certain cases, the entire battery can get drained within a day just after an elective replacement indicator (ERI), which can prove to be fatal.

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Companies are inclined towards developing latest technologies that can be used for homecare settings as well as for other end users such as hospitals and emergency medical services. In 2013, Philips introduced three new products namely HeartStart FRx, HeartStart HS1 Home, and HeartStart HS1 OnSite. These automated external defibrillators are used for cardiac arrhythmia management. The devices are pre-installed in first-aid carrying case, along with battery and pads that are easy to use during a medical emergency.

Major players are focused towards improving quality of the device, which would have a longer life and better performance. This highly consolidated market is characterized by extensive R&D activities culminating in development of advanced devices. This is mainly attributed to major players accounting for well over 50% share of the market.

The market for implantable cardioverter defibrillator is expected to grow significantly over the forecast period. For instance, Medtronic’s Attain Performa Quadripolar Lead and VivaQuad XT CRT-D system are new advanced products. The introduction of quadripolar lead devices is the promising advancement in the field of defibrillators, which in turn would allow more programming operations in pacing and overcoming other issues such as cardiac resynchronization therapy defibrillator (CRT-D). One of the major factors favoring growth of the defibrillators market is rise in consumption of tobacco and increasing number of smokers. According to W.H.O, in 2015, over 1.1 billion people smoked tobacco, with low- and middle-income countries accounting for around 80% share. Thus, these regions are highly lucrative, yet largely untapped markets, which would provide significant growth potential in the near future.

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Key takeaways of the market:

  • The global defibrillators market is expected to expand at a CAGR of 6.0% during the forecast period (2016–2024). According to W.H.O, 17.5 million people die each year from cardiovascular disease, an estimated 31% of all deaths worldwide, which in turn is expected to favor the growth of defibrillators market in the near future

  • The single chamber implantable cardioverter defibrillator segment in the global defibrillators market was estimated to be the largest in 2015 and is expected to dominate the market throughout the forecast period in terms of value. This is owing to high adoption rate for implantable devices. According to W.H.O, there were around 350,000 devices remain actively implanted globally in 2015.

  • In terms of product type, the wearable cardioverter segment is expected to expand at a significant CAGR of 7.5% during the forecast period. This is expected to support the market on the backdrop of increase in global wearable device market due to the cost-effectiveness and ease in use of the devices.

  • The global defibrillators market is characterized by strategic research and development and advancements in the devices, for instance, the Medtronic EV-ICD System, which currently in process of development and not out in the market yet is a novel advancement in the ICD therapy. The company claims that the extravascular placement of the leads and wires is expected to provide same benefits as the implantable devices.

  • Some of the major players are Medtronic, St. Jude Medical, Koninklijke Philips N.V., Schiller, Cardioline SpA, Metrax GmbH (Primedic), Inovytec, Mindray DS USA, Inc., Medical Information Technology, Inc. and Bexen Cardio

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