Defibrillators Market size is estimated to reach USD 20 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of defibrillators was over USD 11 Billion.The growth of the market can be attributed primarily to the rapidly increasing cases of cardiovascular diseases (CVDs) worldwide, owing to unhealthy lifestyle, which in turn, is expected to rise the consumption of defibrillators in the assessment period. According to statistics by the World Health Organization, a majority of deaths worldwide are caused by cardiovascular diseases (CVDs). Globally, 17.9 million people died from cardiovascular disease in 2019, which represents 32% of all deaths worldwide. 85 % of these deaths occurred as a result of heart attacks and strokes.
The purpose of a defibrillator is to restore normal heartbeat through an electric shock. Heart rhythm problems such as cardiac arrhythmia and pulseless ventricular tachycardia, which are irregular heartbeats, are treated with a defibrillator. Furthermore, in response to the rapidly growing cases of cardiovascular diseases, many manufacturers have developed new technologies and made product improvements for providing advanced diagnostics and therapeutic options to patients. For instance, in April 2019, Stryker Corporation has announced the launch of its new defibrillation solution, the LIFEPAK CR2 defibrillator with LIFELINK central AED program manager in the United States. The development of innovative devices results in higher adoption of defibrillators which is expected to enlarge the global defibrillator market size during the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~7% |
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Base Year Market Size (2022) |
~ USD 11 Billion |
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Forecast Year Market Size (2035) |
~ USD 20 Billion |
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Regional Scope |
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End-user (Hospitals, Medical Centers, Homecare)
The global defibrillators market is segmented and analyzed for demand and supply by end users into hospitals, medical centers, homecare, and others. Among these segments, the hospitals segment is anticipated to capture the largest market size in the global defibrillators market. The segment growth can be attributed to the higher number of cardiac patients being treated along with the increasing number of heart surgeries performed in hospitals. For instance, in United States, more than 480,000 heart surgeries are carried out annually. Moreover, automated external defibrillators and ICDs are widely used in hospitals for the treatment of sudden cardiac arrest and other heart complications.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By End-User |
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The North America defibrillators market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. Large patient populations along with higher incidence of cardiovascular diseases in United States are expected to drive the regional market. According to the Centers for Disease Control and Prevention, in 2020, nearly 697,000 people in the United States died from heart disease and over 795,000 people had heart strokes. Moreover, modern healthcare facilities, rising healthcare spending along with initiations by key players are anticipated to drive the defibrillators market in the region during the forecast period.
In addition to their Cobalt and Crome Defibrillators, Medtronic plc has received CE Marking for their Cardiac Resynchronization Therapy-Defibrillators and their BlueSync -enabled implants.
ugust 27, 2019: Zoll Medical Corporation has announced that it has completed its previously announced acquisition of Cardiac Science Corporation, a leading provider of AEDs, related accessories, and services.
Author Credits: Radhika Gupta, Shivam Bhutani
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