Vietnam External Defibrillator Market
Vietnam External Defibrillator Market - By Product (Manual External Defibrillators, Automated External Defibrillators, Wearable Cardioverter Defibrillators); By End Use (Hospital, Public Access Market, Alternate Care Market, Home Healthcare), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
- Published Date: January 2023
- Report ID: BWC23085
- Available Format: PDF
- Page: 140
Report Overview
A surging demand for external defibrillators for managing growing prevalence of cardiac diseases and target diseases in emerging markets, such as Vietnam, could boost the growth of Vietnam External Defibrillator Market during the forecast period between 2023 and 2029.
Vietnam External Defibrillator Market - Industry Trends & Forecast Report, 2029
Vietnam external defibrillator market size was estimated at USD 24.22 million in 2022. During the forecast period between 2023 and 2029, Vietnam external defibrillator market size is expected to grow at a significant CAGR of 8.66% reaching a value of USD 45.03 million by 2029. The primary factor fueling the market's revenue growth is an increase in the incidence of cardiovascular disease. Defibrillator sales have increased as a result of various government initiatives, media attention, online content, and word-of-mouth. Both large and small businesses purchasing multiple defibrillators to keep in convenient locations are largely responsible for the global increase in defibrillator sales. The sale of defibrillators in household models is also increasing. As the elderly population grows, they become more knowledgeable about what to do in the event of a cardiac arrest. They also understand that having an automated external defibrillator (AED) on hand doubles survival rates.
Vietnam External Defibrillator Market - Overview
A person's heart can be shocked by an external defibrillator. This shock can help to stop abnormal electrical impulses in the heart, allowing it to return to a regular beating rhythm. The device quickly provides automatic life-saving emergency therapy and can be operated by anyone. AEDs (Automated External Defibrillators) are growing in popularity as word of their value in emergencies spreads. As the baby boomer generation ages and the risk of sudden cardiac arrest rises, businesses and individuals are realizing the importance of having an AED on hand. This realization is directly related to the rising number of defibrillator sales. According to research patients who receive AED treatment in addition to cardiopulmonary resuscitation (CPR) have a nearly twofold higher survival rate than patients who receive CPR only.
Growth Drivers
Increasing Incidences of Sudden Cardiac Arrest
Sudden cardiac arrest (SCA) can happen at any time, at any age, and in any location. Although it is uncommon, sudden cardiac arrest in young people does occur. According to research, several young, seemingly healthy people under the age of 25 die each year from sudden cardiac arrest. As a result, the rising prevalence of SCA and its associated risk factors are expected to boost market demand. A person's heart can be shocked by an external defibrillator. This shock can help to stop abnormal electrical impulses in the heart, allowing it to return to a regular beating rhythm. The device provides results quickly.
Policies Supporting Healthcare Sector
During the forecast period, the market is expected to be fueled by an increasing number of supportive policies implemented by governments, regulatory bodies, and healthcare organizations. Semiautomatic and automatic AEDs are both recommended, while manual defibrillators should only be used by trained professionals. Because of their ease of use, AEDs are preferred over manual defibrillators in low-acuity settings such as medical clinics and allied health and dental clinics.
Restraints
Stringent Regulations and Lack of Awareness
The Vietnam market for external defibrillators is anticipated to experience slow growth due to strict rules and regulations governing medical devices, including AEDs. For instance, to guarantee the quality and dependability of AEDs, the Food & Drug Administration (FDA) mandates that manufacturers obtain premarket approval for all AEDs. The Vietnam external defibrillators market is anticipated to experience slow growth due to a lack of awareness and early intervention for sudden cardiac arrest. For instance, several other medical conditions or ways of living, such as diabetes, obesity, being overweight, eating poorly, not exercising, and drinking excessively, can increase a person's risk of developing heart disease.
Impact of COVID-19 on Vietnam External Defibrillator Market
The COVID-19 pandemic had a negative overall effect on important players in the market for external defibrillators. All of the major players in the external defibrillator market have seen a decline in overall revenue as a result of how the pandemic affected hospitals' purchasing power, especially in small hospitals. Many countries' healthcare systems were overworked during the COVID-19 crisis, and difficulties were encountered in finding, deploying, keeping, and protecting enough well-trained, supported, and motivated health workers. A long-term investment in health systems, including the medical staff and good working conditions, training, and tools, particularly in the fields of personal protective equipment and occupational safety, was necessary. Pandemic has limited hospitals' purchasing power, particularly small hospitals, which has caused supply transactions to be canceled or delayed and impacted the overall revenue of all major rivals in the defibrillator industry.
Vietnam External Defibrillator Market
Segmental Coverage
Vietnam External Defibrillator Market - By Product
On basis of the product, Vietnam external defibrillator market is divided into Manual External Defibrillators, Automated External Defibrillators, and Wearable Cardioverter Defibrillators segments. The manual external defibrillators segment currently dominates the market and is expected to do so throughout the forecast period. The AEDs segment, on the other hand, is expected to grow at the fastest rate during the forecast period. This is due to growing corporate initiatives, increased defibrillator adoption in healthcare facilities, and the implementation of several public access defibrillation programs.
Vietnam External Defibrillator Market - By End Use
On basis of end use, Vietnam external defibrillator market is divided into Hospital, Public Access Market, Alternate Care Market, and Home Healthcare segments. The hospitals segment accounts to hold the highest market share. This is due to an increase in the number of patients admitted to hospitals, increased hospital adoption of external defibrillators, and strategies implemented by key manufacturers. To treat patients with cardiac problems, hospital cardiology units require defibrillators. The rising incidence of hypertension, diabetes, and strokes leading to SCA as a result of a lack of physical activity, poor dietary habits, and smoking could drive demand for defibrillators in hospitals.
Competitive Landscape
Major players in Vietnam external defibrillator include Koninklijke Philips N.V, Stryker ZOLL Medical Corporation, Nihon Kohden Corporation, ProgettiSrl, Schiller AG, Bexen Cardio, Medtronic, Abbott, Boston Scientific Corporation, and BIOTRONIK SE & Co. KG. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.
Recent Developments
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In July 2020 - Abbot received FDA approval for its next-generation ICSs and CRT-Ds under the brand name Gallant.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2022 |
Base Year – 2022 |
|
Estimated Year – 2023 |
|
Forecast Period – 2023–2029 |
|
Facts Covered |
Revenue in USD Million |
Market Coverage |
Vietnam |
Product/ Service Segmentation |
Product, End Use |
Key Players |
Koninklijke Philips N.V, Stryker ZOLL Medical Corporation, Nihon Kohden Corporation, ProgettiSrl, Schiller AG, Bexen Cardio, Medtronic, Abbott, Boston Scientific Corporation, BIOTRONIK SE & Co. KG |
By Product
-
Manual External Defibrillators
-
Automated External Defibrillators
-
Wearable Cardioverter Defibrillators
By End Use
-
Hospital
-
Public Access Market
-
Alternate Care Market
-
Home Healthcare
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Vietnam External Defibrillator Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Rising Prevalence of Target Diseases
- Rising prevalence of cardiac diseases
- Restraints
- Problems with Implanted and Automated External Defibrillators
- Opportunities
- Emerging Markets
- Challenges
- Technology Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Industry Value Chain Analysis
- Vietnam External Defibrillator Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Product
- Manual External Defibrillators
- Automated External Defibrillators
- Wearable Cardioverter Defibrillators
- By End Use
- Hospital
- Public Access Market
- Alternate Care Market
- Home Healthcare
- By Product
- Market Size & Forecast, 2019–2029
- Competitive Landscape
- List of Key Players and Their Offerings
- Vietnam External Defibrillator Company Market Share Analysis, 2022
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships)
- Impact of Covid-19 on Vietnam External Defibrillator Market
- Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- Koninklijke Philips N.V
- Stryker ZOLL Medical Corporation
- Nihon Kohden Corporation
- ProgettiSrl
- Schiller AG
- Bexen Cardio
- Medtronic
- Abbott
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumptions & Limitations
- Qualitative Research
*Financial information in case of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 Vietnam External Defibrillator Segmentation
Figure 2 Vietnam External Defibrillator Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 Vietnam External Defibrillator Market Size, By Value (USD Million), 2019–2029
Figure 5 Vietnam External Defibrillator Market Share, By Product, By Value, 2019–2029
Figure 6 Vietnam External Defibrillator Market Share, By End Use, By Value, 2019–2029
List of Tables
Table 1 Vietnam External Defibrillator Market Size, By Value (USD Million), 2019–2029
Table 2 Vietnam External Defibrillator Market Size, By Product, By Value, 2019–2029
Table 3 Vietnam External Defibrillator Market Size, By End Use, By Value, 2019–2029
Table 4 Koninklijke Philips N.V Company Overview
Table 5 Koninklijke Philips N.V Financial Overview
Table 6 Stryker ZOLL Medical Corporation Company Overview
Table 7 Stryker ZOLL Medical Corporation Financial Overview
Table 8 Nihon Kohden Corporation Company Overview
Table 9 Nihon Kohden Corporation Financial Overview
Table 10 ProgettiSrl Company Overview
Table 11 ProgettiSrl Financial Overview
Table 12 Schiller AG Company Overview
Table 13 Schiller AG Financial Overview
Table 14 Bexen Cardio Company Overview
Table 15 Bexen Cardio Financial Overview
Table 16 Medtronic Company Overview
Table 17 Medtronic Financial Overview
Table 18 Abbott Company Overview
Table 19 Abbott Financial Overview
Table 20 Boston Scientific Corporation Company Overview
Table 21 Boston Scientific Corporation Financial Overview
Table 22 BIOTRONIK SE & Co. KG Company Overview
Table 23 BIOTRONIK SE & Co. KG Financial Overview
Market Segmentation
By Product
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Manual External Defibrillators
-
Automated External Defibrillators
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Wearable Cardioverter Defibrillators
By End Use
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Hospital
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Public Access Market
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Alternate Care Market
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Home Healthcare
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