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HEALTHCARE & PHARMACEUTICAL

Defibrillators Market Analysis by Product Type {Implantable Cardioverter Defibrillator (ICDs), Automated External Defibrillator (AED), Implantable Cardioverter Defibrillator (ICD), Advanced Life Support Defibrillators (ALS), and Wearable Cardiac Defibrillator}; and by End User (Hospitals, Medical Centers, Homecare and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • January 30, 2020: 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.

  • August 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. 

Global Defibrillators Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Defibrillators Market Growth Rate Chart

The global defibrillators market is estimated to garner revenue of USD 20 Billion by the end of 2031 by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031.

Further, the market generated revenue of USD 11 Billion in the year 2021. The growth of the market can be attributed primarily to the rapidly increasing cases of cardiovascular diseases (CVDs) worldwide. 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. 

Defibrillators Market Size Chart

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. 

Global Defibrillators Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Prevalence of Lifestyle Diseases Such As Hypertension and Diabetes - It was observed that, diabetes prevalence was estimated at 9.2% (460 million people) in 2019, and it is expected to increase to 10% (570 million) by 2030. Life style diseases such as hypertension, obesity, dyslipidemia, and diabetes, which are leading causes for cardiovascular disease, are also on the rise in the population. Developing CVDs is strongly correlated with high blood pressure levels. Thus the rising cases of lifestyle diseases are expected to fuel global defibrillator market during the forecast period.

  • Increase In the Geriatric Population Around the Globe- A recent report from the World Bank states that there were be 747,238,580 people over 60 years of age living in the world at the end of 2021. The number is expected to increase in the future.

  • Rise in Medical Expenditures Worldwide- Healthcare expenditures in the United States increased by 9.7% to USD 4.1 trillion in 2020, representing 19.7% of GDP, according to the Centers for Medicare & Medicaid Services. Moreover, U.S. healthcare spending is expected to rise to USD 6.2 trillion by 2028, an increase of 5.4% annually. 

  • Affective Training Programs and Awareness Campaigns About Defibrillators- For instance, an automated external defibrillator (AED) training program offered by the American Red Cross allows professionals to learn how and when to use AEDs.

  • Incidence Of Spinocerebellar Ataxia (SCA) Around the Globe- It was observed that approximately 3 cases of SCA are reported to occur for every 10 thousand people throughout the world.

Challenges

  • Unawareness Of Sudden Cardiac Arrest Among People
  • Issues Associated with the Use of an Automated External Defibrillator
  • Availability Of Non-Branded Local Defibrillators

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.

Major Macro-Economic Indicators Impacting the Market Growth

Defibrillators Market Growth Chart

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Defibrillators Market Regional Synopsis

Regionally, the global defibrillators market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031. 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. 

Defibrillators Market Share Chart

The global defibrillators market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global defibrillators market includes the following segments:

By Product Type

  • Implantable Cardioverter Defibrillator (ICDs)
  • Automated External Defibrillator (AED)
  • Implantable Cardioverter Defibrillator (ICD)
  • Advanced Life Support Defibrillators (ALS)
  • Wearable Cardiac Defibrillator

By End User

  • Hospitals
  • Medical Centers
  • Homecare
  • Others
 

Top Featured Companies Dominating the Global Defibrillators Market

  • Asahi Kasei Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Stryker Corporation
  • Biotronik SE & Co. KG
  • Boston Scientific Corporation
  • ZOLL Medical Corporation
  • LivaNova PLC
  • Medtronic plc
  • Cardiac Science Corporation
  • Nihon Kohden Corporation
  • Abbott Laboratories

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