The global defibrillator market size was valued at USD 11.36 billion in 2020 and is expected to expand at a CAGR of 7.1% during the forecast period, 2021–2028. The growth of the market is attributed to rise in product innovation of defibrillator.
Defibrillator is a device primarily designed to examine and regulate cardiac fibrillation using the electric current technology to the chest wall or heart of a patient. According to the World Health Organization (WHO), cardiovascular illnesses were the top cause of mortality in 2017, accounting for around 17.9 million deaths worldwide. Annually, around 300,000 out-of-hospital cardiac arrests occur in the United States. In heart conditions such as cardiac arrhythmia, ventricular fibrillation, and pulseless ventricular tachycardia, a defibrillator is a heart gadget that helps a patient's heart to receive a therapeutic shock. Ami Italia, for instance, makes a variety of defibrillators under the Saver One, Geo Saver, and Smarty Saver brand names. The Smarty Series, for example, are also widely utilised in ambulances, emergency rooms, and public and private clinics.
The COVID-19 pandemic had caused negative impact on the market, especially the implantable cardioverter defibrillators (ICDs) market, resulting in lower demand and sales in 2020. During the year, however, the rising number of COVID-19 cases in numerous countries; major healthcare institutes and hospitals continued to raise concern and started adopting the elective procedures at wide scale. For example, Abbott's hospital-based businesses grew in the second and third quarters of 2020. However, due to a significant surge in COVID-19 cases and hospitalizations in many countries, the sale trends were not up to the mark and were severely impacted in Q4 2020.
Market Trends, Drivers, Restraints, and Opportunities
- Increased prevalence of sudden cardiac arrest, expanding public awareness, and supporting activities by governments and healthcare organizations are key factors driving the market.
- Growing awareness of cardiovascular events present another key driver of the market.
- Use of implanted and automated external defibrillators raises a number of issues. This is a major restraining factor that hamper the market growth during the given timeline.
- Number of product-related issues primarily owing to electrical failure and connection compatibility concerns are another hurdles of the market.
- Emerging R&D programs and wide investment from key manufacturers are expected to create lucrative opportunities for the market growth.
Scope of the Report
The report on the global defibrillator market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes | Details |
| Report Title | Defibrillator Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018–2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Products (External Defibrillators [Wearable Cardioverter Defibrillators, Automated ED, and Manual ED] and Implantable Cardioverter Defibrillators [T-ICD {Dual Chamber, CRT-D, and Single Chamber} and S-ICD]) and End-users (Public Access Market, Alternate Care Market, Home Healthcare, Hospital, and Pre Hospital) |
| Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
| Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
| Key Players Covered in the Report | MicroPort Scientific Corporation; Koninklijke Philips N.V.; Stryker; ZOLL Medical Corporation (Asahi Kasei); Nihon Kohden Corporation; Schiller AG; Medtronic; Abbott; Boston Scientific Corporation; and BIOTRONIK SE & Co. KG |
Market Segment Insights
Implantable cardioverter defibrillators segment to expand at a considerable CAGR
On the basis of products, the defibrillator market is bifurcated into external defibrillators and implantable cardioverter defibrillators. The external defibrillators segment is further classified as wearable cardioverter defibrillators, automated ED, and manual ED. The implantable cardioverter defibrillators segment consists of T-ICD and S-ICD while the T-ICD segment includes dual chamber, CRT-D, and single chamber. The implantable cardioverter defibrillators segment is projected to expand at a considerable CAGR during the forecast period due to the high frequency of cardiovascular illnesses, the large elderly population in important markets, and leading firms' increasing products advancement. On the other hand, the external defibrillators segment is anticipated to account for a major market share during the forecast period due to the technology improvements and actions encouraging public access to AEDs in several countries.
Hospital segment to hold significant share of the market
In terms of end-users, the market is divided into public access market, alternate care market, home healthcare, hospital, and pre hospital. The hospital segment is expected to hold significant share of the market due to the increased number of cardiac patients admitted to hospitals and rising demand for treatment procedures. In hospitals, both ICDs and external defibrillators are increasingly being utilized to treat patients with sudden cardiac arrest and other conditions. However, the public access market segment is projected to account for a significant market share owing to increased efforts to expand the availability of public access AEDs, train workers, and improve responsiveness to sudden cardiac arrest.
North America is anticipated to constitute a key market share
In terms of regions, the defibrillator market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the major players' endeavors, favorable laws, and technologically sophisticated healthcare facilities especially in the United States. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to improving healthcare infrastructure, presence of a large patient population, and high frequency of cardiovascular disorders among a large number of the regional population.
Segments
The global defibrillator market has been segmented on the basis of
Products
- External Defibrillators
- Wearable Cardioverter Defibrillators
- Automated ED
- Manual ED
- Implantable Cardioverter Defibrillators
- T-ICD
- Dual Chamber
- CRT-D
- Single Chamber
- S-ICD
End-users
- Public Access Market
- Alternate Care Market
- Home Healthcare
- Hospital
- Pre Hospital
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- MicroPort Scientific Corporation
- Koninklijke Philips N.V.
- Stryker
- ZOLL Medical Corporation (Asahi Kasei)
- Nihon Kohden Corporation
- Schiller AG
- Medtronic
- Abbott
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
Competitive Landscape
Key players competing in the global defibrillator market are MicroPort Scientific Corporation; Koninklijke Philips N.V.; Stryker; ZOLL Medical Corporation (Asahi Kasei); Nihon Kohden Corporation; Schiller AG; Medtronic; Abbott; Boston Scientific Corporation; and BIOTRONIK SE & Co. KG.
Intense competition and sharp rivalry among major players has defined the key nature of the market. To enhance their market share, market participants use a variety of strategic activities Such as product development, geographical growth, partnerships and collaborations, and mergers and acquisitions. For example, ZOLL Medical Corporation acquired Cardiac Science Corporation, a top AEDs manufacturer in the United States, in August 2019. This deal helped to bolster ZOLL's AED product range and boosted the company's AED business with global expansion objectives. Abbott, on the other hand, gained CE Mark for their Gallant ICDs and CRT-D devices in February 2020.
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