The defibrillator market is projected to reach US$ 14,876.95 million by 2028 from US$ 10,478.31 million in 2021; it is expected to grow at a CAGR of 5.1% from 2021 to 2028.
The increasing prevalence of cardiovascular diseases is one of the most critical factors driving the growth of the market. Cardiovascular diseases (CVDs) are the leading cause of death around the world. The World Health Organization estimated a total of 17.9 million people died from CVDs in 2019, representing 32% of the total global deaths. Of this, 85% of deaths occurred due to heart attacks and strokes. CVDs carry a risk of cardiac arrhythmia or cardiac arrest, which can be treated with defibrillators. Also, as many cardiac arrests and arrhythmias occur outside hospitals, the demand for public access defibrillators and implantable defibrillators for CVD patients has become essential. Therefore, the rising prevalence of CVDs is expected to directly drive the demand for defibrillators in both hospitals as well as out-of-hospital settings.
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Defibrillator Market: Strategic Insights
Market Size Value in US$ 10,478.31 Million in 2021 Market Size Value by US$ 14,876.95 Million by 2028 Growth rate CAGR of 5.1% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Defibrillator Market: Strategic Insights
| Market Size Value in | US$ 10,478.31 Million in 2021 |
| Market Size Value by | US$ 14,876.95 Million by 2028 |
| Growth rate | CAGR of 5.1% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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North America is likely to continue its dominance in the defibrillator market during 2021–2028. The US holds the largest share of the market in North America and is expected to continue this trend during the forecast period. According to the statistics released by the Centers for Disease Control and Prevention (CDC), around 659,000 deaths are recorded due to heart diseases in the US, which is 1 in every four deaths associated due to cardiovascular diseases. Additionally, the American Heart Association’s Heart and Stroke Statistics 2020 estimated 356,000 out-of-hospital cardiac arrests (OHCA) occurred in the US in 2019. Out of this, 90% of these OHCA cases were fatal. This trend of CVD and OHCA cases is expected to continue rising and increase the demand for automated external, public access, prehospital, and implantable defibrillators. Also, the increasing healthcare expenditure of the US is expected to aid the demand for defibrillators, therefore, driving the growth of defibrillators in the country and the region.
Lucrative Regions for Defibrillator Market
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Market Insights
Rising Training and Awareness Programs on Cardiopulmonary Resuscitation and Automated External Defibrillators Drives Market Growth
With a large number of cases of cardiac arrests taking place outside hospitals, training and awareness programs related to cardiopulmonary resuscitation (CPR) and automated external defibrillators (AEDs) usage have increased. The survival rates of OHCA cases are statistically higher when a trained bystander or emergency medical service personnel attends to the patient. Organizations such as WHO, US FDA, regional and local health bodies provide online and offline training and awareness programs related to its usage and maintenance. Also, public access defibrillators have increased significantly for better treatment of OHCA. Various states in the US have enacted various regulations to encourage the usage of defibrillators, their availability in public spaces, set up of health registries of locations where AEDs are present for public access.
Product Type – Based Insights
Based on product type, the defibrillator market is segmented into implantable cardioverter defibrillator (ICD) and external defibrillators. The ICD segment is further segmented into transvenous ICD and subcutaneous ICD, whereas the external defibrillator segment is further segmented into manual, fully automated external defibrillators, and wearable defibrillators. The ICD segment is expected to account for the largest share of the defibrillator market during 2021–2028. An ICD continuously monitors the heartbeat and, if necessary, administers electric shocks to restore normal heart rhythm. ICDs are used to avoid sudden death in patients undergoing fibrillation or persistent ventricular tachycardia. Next-generation ICDs can also function as a pacemaker. If the heart rate slows, the pacemaker feature can stimulate the heart to beat. There is an increased demand for ICDs for patients with non-ischemic cardiomyopathy, which has been shown to improve survival rates and reduce mortality risk, which is projected to provide opportunities for ICD manufacturers, propelling the market growth.
Defibrillator Market, by Product Type – 2020 and 2028
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End User – Based Insights
Based on end user, the defibrillator market is segmented into hospitals and clinics, prehospital care, public access, home care settings, and alternate care facilities. The hospitals and clinics segment holds a considerable market share and is projected to continue its dominance during the forecast period. Hospitals and clinics are healthcare facilities that have the largest number of medical devices and equipment among all diagnostic and treatment facilities. Also, the largest share of healthcare expenditure goes towards hospitals and clinics, while private hospitals and clinics tend to have the most sophisticated and latest medical devices to ensure competitiveness. Also, hospitals and clinics are usually the primary healthcare facilities where ICD implantation is done, making it the most significant end user for defibrillators, both external and ICD.
Companies operating in the defibrillator market adopt the inorganic growth strategy to meet the evolving customer demands across the world, which involves acquisitions, mergers, and collaborations with local and international players in the global market.
Defibrillator Market – Segmentation
Based on product type, the defibrillator market is segmented into implantable cardioverter defibrillator (ICD) and external defibrillators. The ICD segment is further segmented into transvenous ICD and subcutaneous ICD, while the external defibrillator segment is further segmented into manual, fully automated external defibrillators, and wearable defibrillators.
By end-user, the defibrillator market is segmented into hospitals and clinics, prehospital care, public access, home care settings, and alternate care facilities.
Defibrillator Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- Medtronic plc
- Abbott Laboratories
- Boston Scientific Corp.
- Koninklijke Philips NV
- Biotronik, Inc.
- Zoll Medical Corp.
- Nihon Kohden Corp.
- Progetti srl
- CU Medical Systems, Inc.
- Shenzhen Mindray Biomedical Electronics Co., Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Defibrillators are devices that give a high energy shock to the heart of a patient who is in cardiac arrest. The increasing prevalence and incidence of cardiovascular diseases (CVDs) has led to the risk of cardiac dysrhythmias, specifically ventricular fibrillation (VF) and non-perfusing ventricular tachycardia (VT) among patients which can be treated through the use of defibrillators. A defibrillator can be external or implantable. An external defibrillator comes in various types, including manual, automated, and wearable. Whereas, an implantable defibrillator is usually implanted on or inside a patient and can be transvenous implantable cardioverter defibrillator (ICD) or subcutaneous ICD.
Key factors that are driving the growth of this market are increasing prevalence and incidence of cardiovascular diseases and rising training and awareness programs on cardiopulmonary resuscitation (CPR) and automated external defibrillators.
The Implantable Cardioverter Defibrillator segment dominated the global defibrillator market and held the largest revenue share of 68.80% in 2021.
The Hospitals and Clinics segment dominated the global defibrillator market and accounted for the largest revenue share of 63.96% in 2021.
The defibrillator market majorly consists of the players such as Medtronic, Abbott, Boston Scientific Corp., Zoll Medical Corp., KONINKLIJKE PHILIPS N.V., Biotronic, Inc., Progetti srl, Shenzhen Mindray Biomedical Electronics Co., Ltd., Nihon Kohden Corp., among others
Global defibrillator market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. In North America, the U.S. is the largest market for global defibrillators. The market growth in the country is attributed to the increase in prevalence of cardiovascular diseases, rising awareness about the presence of innovative defibrillators, presence of leading pharmaceutical companies in this region and presence of well-developed healthcare infrastructure across the country. And, Asia Pacific is the fastest-growing region growing at the CAGR of 5.9% during the forecast period.
The List of Companies - Defibrillators Market
- Medtronic
- Abbott
- Boston Scientific Corporation
- Zoll Medical Corp.
- KONINKLIJKE PHILIPS N.V
- Biotronic, Inc
- Progetti srl
- Shenzhen Mindray Biomedical Electronics, Co. Ltd
- Nihon Cohden Corp
- CU Medical Systems, Inc
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