For smaller companies to enter the burgeoning defibrillator market, they should forge alliances with businesses that can help them improve sales, distribution and market share, according to market research firm Frost & Sullivan.
Frost & Sullivan reported that the European external defibrillators market earned revenue of $296 million in 2006, and is expected to reach $440 million in 2013.
The surplus of products bodes well for the market, which will ultimately offer affordable defibrillators. The reduction in costs will allow smaller companies more opportunities in the competitive environment.
“Until recently, wider deployment of defibrillators had been constrained by deficiencies in automated external defibrillators technology, including extensive daily maintenance, technical complexity and high cost,” according to Frost & Sullivan Research Analyst Janani Narasimhan. “Technological developments have solved these shortcomings and revolutionized the treatment of sudden cardiac arrest.”
The research also suggested that by educating this user group, defibrillator companies could expand their scope and experience growth in the commercial and public access markets.