Defibrillator Market

Global Defibrillator Market Size (2024 to 2032)

In 2023, the global defibrillator market was valued at USD 13.26 billion and it is expected to reach USD 25 billion by 2032 from USD 14.23 billion in 2024, growing at a CAGR of 7.3 % during the forecast period.

Current Scenario of the Global Defibrillator Market

The global defibrillator market is having significant growth and is expected to have prominent growth during the forecast period. The increasing prevalence of cardiovascular diseases, rising government support initiatives, and the escalating geriatric population with chronic disease conditions are primary factors driving the global defibrillator market with a wide adoption rate. The growing public awareness leading to early detection and rising disposable incomes of the people, and the accelerating focus of the market players to develop innovative products are boosting the adoption of defibrillators across the globe. Various advantages of defibrillators play a pivotal role in treating and managing cardiovascular diseases, contributing to market expansion.

MARKET DRIVERS

The growing patient population suffering from cardiovascular diseases is one of the key factors driving the defibrillators market growth.

WHO says CVDs are one of the major causes of death worldwide, and an estimated 17.9 million people every year die from CVDs. As per the data provided by the Centers for Disease Prevention and Control (CDC), an estimated 697,000 people died from heart disease in the U.S. in 2020. As per the same source, one person gets a heart attack every 40 seconds in the United States, and approximately 805,000 people have heart attacks every year in the U.S. The growing number of people suffering from CVDs and the increasing incidence of heart attacks are expected to boost the demand for defibrillator devices and promote the market’s growth rate. The rising awareness among healthcare providers regarding sudden cardiac arrests is further fuelling the growth rate of the defibrillators market. The incidents of sudden cardiac arrests are growing significantly worldwide and are a major cause of death worldwide. For instance, the American Heart Association says an estimated 326,200 adults die from sudden cardiac arrests in the U.S. every year.

Y-o-Y growth in the number of awareness programs to spread awareness on defibrillators in developing countries are supporting the growth rate of the defibrillator market.

Factors such as the growing adoption of technological advancements and a rising aging population with an elevated risk of cardiovascular diseases are further anticipated to fuel the growth of the defibrillators market. In recent times, in the wake of COVID-19, the International Liaison Committee on Cardiopulmonary Resuscitation amended the resuscitation guidelines, which ensured improving defibrillation delivery by improving training the healthcare workers, which reduced the confusion in the delay of COVID-19 resuscitation efforts. S-ICDs, MRI-compatible, and CRT-Ds are anticipated to provide growth opportunities for the development and emerging markets.

Furthermore, the rise in the concern towards quality treatment procedures to improve the well-being of patients and changes in food habits, and the adoption of sedentary lifestyles are indirectly contributing to the global defibrillators market. Public and private organizations are focusing on developing new technologies in the medical sector, and there is an increase in the number of training institutes, which is a positive vibe to market growth. Increasing awareness among people towards the availability of various treatment procedures, growing support from the government to improve the quality of diagnostic and treatment procedures, and increasing urbanization and growth in disposable income is expected to show favoritism towards the global defibrillators market growth.

MARKET RESTRAINTS

The affordability of defibrillators is not possible for some countries to purchase sufficient or large quantities due to the high costs, which is one of the key factors hampering the market’s growth rate. Poor awareness among people regarding the importance of defibrillators in rural or remote areas is limiting the adoption of these devices and hindering market growth. Unfavorable reimbursement policies for defibrillators in some countries are negatively impacting the growth rate of the global market. Furthermore, costs associated with repairs and maintenance, competition from alternative therapies, and stringent regulations associated with the commercialization of defibrillators are expected to impede market growth.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Defibrillator Market Analysis By Product

The implantable defibrillator segment is anticipated to hold the most significant share of the global market during the forecast period owing to the increasing number of people suffering from heart failure cases and the growing number of emergency cases related to the heart. In addition, the launch of innovative devices in the medical sector with the latest technologies is predicted to boost segmental growth. The growing tendency for implant procedures is another major factor propelling the growth rate of the segment.

Global Defibrillator Market Analysis By End User

The hospital segment had the largest share of the global market in 2023, and the segment’s domination is estimated to continue during the forecast period owing to the growing number of hospitals with the latest equipment to provide excellent therapies. In addition, the increasing number of patient visits to the hospitals is further promoting the segment’s growth rate.

REGIONAL ANALYSIS

North America captured the major share of the global market in 2023 and the domination of the North American market is predicted to continue during the forecast period owing to the rapid adoption of the latest technological advancements and various techniques. The growing disposable income in North American countries and the rising patient count suffering cardiovascular diseases are propelling regional market growth. In 2021, the U.S. market led the North American market, followed by Canada. For instance, as per the statistics published by the American Heart Association study, around 5.5 million people are diagnosed due to heart failure in the U.S., and the death rate due to heart failure is to reach USD 23.3 million by 2030. 

The European market is anticipated to hold a substantial share of the worldwide market during the forecast period. Factors such as the growing adoption of technological developments in the manufacturing of defibrillators, increasing awareness regarding the importance of defibrillators, and the growing prevalence of CVDs in the European region are majorly propelling regional market growth. The UK market is anticipated to occupy a major share of the European market during the forecast period. The UK is a hub for manufacturers and suppliers of defibrillators, which is one of the key factors propelling the defibrillators market growth in the UK. Companies such as Philips Healthcare, Medtronic plc, Zoll Medical Corporation, Stryker Corporation, and Cardiac Science Corporation are playing a vital role in the Europe defibrillators market, and these companies are investing hefty amounts on R&D of defibrillators to innovate advanced defibrillators that can meet with the increasing demand.

The APAC defibrillators market occupied a considerable share of the worldwide market in 2023 and is predicted to showcase the fastest CAGR during the forecast period. Factors such as an increasing patient population suffering from various heart-related diseases, a growing aging population, and rising demand for portable defibrillators are driving the APAC market growth. In 2023, China held the major share of the APAC market, and the domination of the Chinese market in the APAC region is expected to continue during the forecast period. The launch of reimbursement schemes by government organizations in favour of the end-users is expected to fuel the growth rate of the APAC market during the forecast period.

KEY PLAYERS IN THE GLOBAL DEFIBRILLATOR MARKET 

Some of the prominent companies leading the global defibrillator market profiled in the report are Medtronic PLC (Ireland), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), LivaNova PLC (U.K.), Koninklijke Philips N.V. (Netherlands), ZOLL Medical Corporation (U.S.), Cardiac Science Corporation (U.S.), Physio-Control, Inc. (U.S.) and Nihon Kohden Corporation (Japan).

RECENT HAPPENINGS IN THE MARKET

• In February 2023, Medtronic received the CE Mark for its implantable defibrillator system, Aurora EV-ICD MRI SureScan, and Epsila EV MRI SureScan for the management of irregular heart rhythm.
• In January 2022, Koninklijke Philips acquired Cardiologs to boost its cardiac diagnostic and monitoring product offerings.
• In September 2022, Kauvery Hospital launched the Restart Heart Foundation in Chennai, India. Through this foundation, over 100 automated external defibrillators are installed at key sites in Chennai.
• In August 2022, announced its investigational EV ICD (extravascular implantable cardioverter defibrillator) system met trail endpoints. This device is aimed to avoid certain Medtronic risks of traditional and transvenous ICDs.
• In May 2021, Rapid Response Revival Research Ltd, an Australian company, received a CE mark for CellAED, the world’s first personal automated external defibrillator (AED) for home use.
• In June 2020, Philips received FDA approval for their automated external defibrillators -Heartstart FR3 and Heartstart FRx.
• In January 2020, the Cobalt and Chrome portfolio of implantable cardioverter-defibrillators and cardiac resynchronization therapy- defibrillators from Medtronic received the CE Mark.
• In 2019, Koninklijke Philips N.V. (Netherlands) introduced its Heartstart intrepid monitor/ Defibrillator with intelliSpace Connect.
• In August 2019, the Cardiac science corporation was acquired by Zoll medical to strengthen the company’s product offering through ZOLL’S Resuscitation division.
• St. Jude Medical Implantable Defibrillators, ICDs, are used to treat heart conditions that people develop at birth or during life. ICD is for people at risk of life-threatening ventricular arrhythmias-abnormal and rapid cardiac rhythms (arrhythmias) in the two lower chambers (ventricle) of the heart.
• Swedish carriers are currently testing a program that AEDs can deliver by drone. It shortens AED delivery times and increases the chances of survival if treated faster. Therefore, due to technological advances and product innovations, the defibrillator market is expected to grow.
• St. Jude Medical LLC is one of the most important competitors in the defibrillator market, and others are Boston Scientific Corporation and Koninklijke Philips.
• IN 2014, Asahi Kasei Corporation launched LifeVests. The product is a wearable defibrillator, and it helped in reducing complexity during cardiac arrest.

DETAILED SEGMENTATION OF THE GLOBAL DEFIBRILLATOR MARKET INCLUDED IN THIS REPORT

This research report segmented and sub-segmented the global defibrillator market based on product type, end-user, and region.

By Product

• Implantable Defibrillators
  • Transvenous Implantable Cardioverter Defibrillator (T-ICDs)
  • Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs)
  • Cardiac Resynchronization Therapy- Defibrillator (CRT-D)
• External defibrillators
  • Manual External Defibrillator
  • Automated External Defibrillator (AEDs)
  • Wearable Cardioverter Defibrillator (WCDs)

By End User

• Hospitals
• Prehospital
• Public Access market
• Alternate Care Market
• Home

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa