Defibrillators Market Size & Share, by Product Type {Implantable Cardioverter, Automated External, Implantable Cardioverter, Advanced Life Support, Wearable Cardiac}; End-user (Hospitals, Medical Centers, Homecare) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4284
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

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.


Defibrillators Market
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Defibrillators Sector: 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 – The unhealthy lifestyle has prompted the increase of cases of sudden cardiac arrest and heart attacks. However, people are not aware of the sudden cases and tend to avoid the signals. This trend is expected to slow down the utilization of defibrillators in the upcoming years.
  • Issues Associated with the Use of an Automated External Defibrillator
  • Availability of Non-Branded Local Defibrillators

Defibrillators Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 11 Billion

Forecast Year Market Size (2035)

~ USD 20 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Defibrillators Segmentation

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:

       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

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Defibrillators Industry - Regional Synopsis

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. 

Research Nester
Defibrillators Market Size
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Companies Dominating the Defibrillators Landscape

top-features-companies
    • 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 

In the News

  • 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 Pawar


  • Report ID: 4284
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising incidence of cardiovascular disease worldwide along with rise in medical expenditures are the major factors driving the growth of the defibrillators market.

The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023-2035.

Issues associated with the use of an automated external defibrillator along with availability of non-branded defibrillator are the challenges affecting the market growth.

The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Asahi Kasei Corporation, Stryker Corporation, Biotronik SE & Co. KG, Boston Scientific Corporation, ZOLL Medical Corporation, LivaNova PLC, Medtronic plc, Cardiac Science Corporation, Nihon Kohden Corporation, and Abbott.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product type, end user, and by region.

The hospitals segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Defibrillators Market Report Scope
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