The global defibrillators market is expected to reach USD 18.1 billion by 2028 from USD 13.6 billion in 2023, at a CAGR of 5.9% during the forecast period. The increase in the demand for defibrillators market is driven by the increasing population proportion with cardiovascular diseases, technological advancements in defibrillators, and rising initiatives by public & private organizations to provide free training & programs and enhance the implementation of public access defibrillators (PADs). However, issues related to implantable and automated external defibrillators and frequent product recalls impeded market growth.
Implantable Cardioverter Defibrillator segment accounted for the largest share of the global defibrillator market in 2022
Based on product, the defibrillators market is broadly segmented into implantable cardioverter defibrillators (ICDs) and external defibrillators. ICDs are further divided into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators, whereas external defibrillators are divided into manual AED, fully automated AED, and wearable defibrillator. The ICDs segment accounted for the largest global defibrillators market share in 2022. The technological advancements in implantable defibrillators, rising awareness among cardiologists about the benefits pertaining to subcutaneous ICDs, and the launch of technologically advanced ICDs.
Adult patients segment dominated the defibrillator market based on patients type in 2022
The defibrillator market is segmented into adult and pediatric patients based on patient type. The adult patients segment dominated the global defibrillators in 2022. The increasing incidence of cardiovascular disease in the adult population, rapid growth in the geriatric population highly susceptible to sudden cardiac arrest, and the increasing number of implantation of ICDs in adult patients are likely to fuel the growth of the segment.
North America accounted for the highest market share in the defibrillators market during the forecast period
Based on the region, the global defibrillators market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to witness a high market share during the forecast period. This can be attributed to the factors such as the rising adoption of advanced defibrillators, increasing efforts by governments to provide the necessary care to cardiac arrest patients, the strong foothold of market players, favorable reimbursement programs, and an increase in the incidence of coronary artery diseases.
Breakdown of supply-side primary interviews by company type, designation, and region:
- By Company Type: Tier 1 (30%), Tier 2 (45%), and Tier 3 (25%)
- By Designation: C-level (20%), Director-level (20%), and Others (45%)
- By Region: North America (40%), Asia- Pacific (30%), Europe (20%), Latin America (7%) and Middle East & Africa(3%)
Prominent companies include Medtronic (Ireland), Stryker (US), Koninklijke Philips N.V. (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US), Abbott (US), Nihon Kohden (Japan) and MicroPort (China).
Research Coverage
This research report categorizes the defibrillators market by Product (Implantable cardioverter defibrillators (transvenous implantable cardioverter defibrillators {biventricular ICDS/cardiac resynchronization therapy defibrillators, dual-chamber ICDS, and single-chamber ICDS}, Subcutaneous implantable cardioverter defibrillators) External defibrillators (manual & semi-automated external defibrillators, fully automated external defibrillators, wearable cardioverter defibrillators), Patients type (Adult, Pediatrics), End Users (Hospitals, Clinics and Cardiac centres, Pre-hospital care settings,Public access markets, Home care settings, Alternate care facilities, and Other end users), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the defibrillators market.
A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the defibrillators market. Competitive analysis of upcoming startups in the defibrillators market ecosystem is covered in this report.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall defibrillators market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (rising prevalence of cardiovascular disease, increase in geriatric patient population, a strong focus of government to boost the installation of public access defibrillators, rising defibrillators training & programs, and expanding healthcare infrastructure), restraints (frequent product recalls, issues related to implantable and automated external defibrillators), opportunities (emerging countries, ongoing developments in ICDs/CRT-Ds, mergers and acquisitions among market players), and challenges (frequent product recalls and lack of awareness about the cardiac arrest in emerging countries) influencing the growth of the defibrillators market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the defibrillators market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the defibrillators market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the defibrillators market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Medtronic (Ireland), Stryker (US), Koninklijke Philips N.V. (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US, Abbott (US)
Table of Contents
Companies Mentioned
- Abbott
- Allied Medical Ltd.
- Ami Italia
- Asahi Kasei Corporation
- Avive Solutions Inc.
- Axion Concern LLC
- Bexen Cardio
- Biotronik
- Boston Scientific Corporation
- Bpl Medical Technologies
- Corpuls
- Cu Medical Systems Co. Ltd.
- Koninklijke Philips N.V.
- Mediana Co. Ltd.
- Medtronic
- Metrax GmbH
- Metsis Medikal Ltd.
- Microport Scientific Corporation
- Ms Westfalia GmbH
- Nihon Kohden Corporation
- Progetti Srl
- Schiller AG
- Shenzhen Comen Medical Instruments Ltd.
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- Stryker
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 211 |
Published | June 2023 |
Forecast Period | 2023 - 2028 |
Estimated Market Value ( USD | $ 13.6 Billion |
Forecasted Market Value ( USD | $ 18.1 Billion |
Compound Annual Growth Rate | 5.9% |
Regions Covered | Global |
No. of Companies Mentioned | 25 |