The global defibrillators market was valued at $13,168 million in 2020, and is projected to reach $24,608.3 million by 2030, registering a CAGR of 6.6% from 2021 to 2030.
Defibrillation is a medical procedure used to treat life threatening conditions that affect the rhythm of the heart such as cardiac arrhythmia, ventricular fibrillation, and pulseless ventricular tachycardia. The procedure involves the delivery of an electric shock to the heart, which causes depolarization of the heart muscles and re-establishes normal conduction of the heart’s electrical impulse. The device that delivers the therapeutic shock to the heart is called a defibrillator.
The defibrillators market is witnessing tremendous growth owing to technological advancements in the field of defibrillators, rise in prevalence of cardiac diseases, and rise in training and awareness programs among physician and researcher for defibrillators.
The major factors that drive the market include increase in adoption of technologically advanced medical devices, rise in demand for quality medical care, and high incidences of sudden cardiac arrest (SCA). In addition, the increase in R&D activities to develop medical devices and increase in number of key market players to manufacture advanced defibrillators across the globe are a few more factors that drive the growth of the defibrillators market. Moreover, promoting the innovation of the next-generation external defibrillators to improve safety and effectiveness of devices, identifying and addressing problems associated with devices by the Food and Drug Administration (FDA), and focusing on the treatment of SCA are anticipated to create lucrative opportunities for the growth of the defibrillators market.
However, lack of awareness about sudden cardiac arrest in developing nations are expected to hinder the growth of the defibrillators market during the forecast period. Moreover, limited reimbursements in developed nations and lack of infrastructure, particularly in developing and underdeveloped countries are also expected to hinder the market growth.
The defibrillators market in this report is studied on the basis of product, end user, and region. On the basis of product, the market is divided implantable defibrillators and external defibrillators. Implantable defibrillators are classified into transvenous implantable cardioverter defibrillator (T-ICDs), subcutaneous implantable cardioverter defibrillator (S-ICDs), and cardiac resynchronization therapy- defibrillator (CRT-D). External defibrillators are further classified as manual external defibrillator, automated external defibrillator (AEDs), and wearable cardioverter defibrillator (WCDs). As per end user, the market is segregated into hospitals, pre-hospital, public access market, alternative care, and home Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America accounted for the largest market share in the defibrillators market in 2020, and is expected to retain its dominance during the forecast period. This is primarily attributed to initiatives by key players for manufacturing of advanced defibrillator device, favorable regulations by government and private organizations, and technologically advanced healthcare facilities in the U.S. and Canada. However, Asia-Pacific is expected to witness considerable market growth during the forecast period, due to development of healthcare infrastructure, high patient population, and prevalence of cardiac diseases.
The major players operating in the global defibrillators market are Asahi Kasei Corporation, Stryker Corporation, Biotronik SE & Co. KG, Boston Scientific Corporation, Philips Healthcare, LivaNova PLC, Medtronic plc, Cardiac Science Corporation, Nihon Kohden Corporation, and St. Jude Medical, Inc. These players adopted product launch, collaboration, and merger & acquisition as their key developmental strategies.
Defibrillation is a medical procedure used to treat life threatening conditions that affect the rhythm of the heart such as cardiac arrhythmia, ventricular fibrillation, and pulseless ventricular tachycardia. The procedure involves the delivery of an electric shock to the heart, which causes depolarization of the heart muscles and re-establishes normal conduction of the heart’s electrical impulse. The device that delivers the therapeutic shock to the heart is called a defibrillator.
The defibrillators market is witnessing tremendous growth owing to technological advancements in the field of defibrillators, rise in prevalence of cardiac diseases, and rise in training and awareness programs among physician and researcher for defibrillators.
The major factors that drive the market include increase in adoption of technologically advanced medical devices, rise in demand for quality medical care, and high incidences of sudden cardiac arrest (SCA). In addition, the increase in R&D activities to develop medical devices and increase in number of key market players to manufacture advanced defibrillators across the globe are a few more factors that drive the growth of the defibrillators market. Moreover, promoting the innovation of the next-generation external defibrillators to improve safety and effectiveness of devices, identifying and addressing problems associated with devices by the Food and Drug Administration (FDA), and focusing on the treatment of SCA are anticipated to create lucrative opportunities for the growth of the defibrillators market.
However, lack of awareness about sudden cardiac arrest in developing nations are expected to hinder the growth of the defibrillators market during the forecast period. Moreover, limited reimbursements in developed nations and lack of infrastructure, particularly in developing and underdeveloped countries are also expected to hinder the market growth.
The defibrillators market in this report is studied on the basis of product, end user, and region. On the basis of product, the market is divided implantable defibrillators and external defibrillators. Implantable defibrillators are classified into transvenous implantable cardioverter defibrillator (T-ICDs), subcutaneous implantable cardioverter defibrillator (S-ICDs), and cardiac resynchronization therapy- defibrillator (CRT-D). External defibrillators are further classified as manual external defibrillator, automated external defibrillator (AEDs), and wearable cardioverter defibrillator (WCDs). As per end user, the market is segregated into hospitals, pre-hospital, public access market, alternative care, and home Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America accounted for the largest market share in the defibrillators market in 2020, and is expected to retain its dominance during the forecast period. This is primarily attributed to initiatives by key players for manufacturing of advanced defibrillator device, favorable regulations by government and private organizations, and technologically advanced healthcare facilities in the U.S. and Canada. However, Asia-Pacific is expected to witness considerable market growth during the forecast period, due to development of healthcare infrastructure, high patient population, and prevalence of cardiac diseases.
The major players operating in the global defibrillators market are Asahi Kasei Corporation, Stryker Corporation, Biotronik SE & Co. KG, Boston Scientific Corporation, Philips Healthcare, LivaNova PLC, Medtronic plc, Cardiac Science Corporation, Nihon Kohden Corporation, and St. Jude Medical, Inc. These players adopted product launch, collaboration, and merger & acquisition as their key developmental strategies.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides in-depth analysis of the global defibrillators market size along with the current trends and future estimations to elucidate the imminent investment pockets
- It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market
- A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global defibrillators market growth
KEY MARKET SEGMENTS
By Product
- Implantable Defibrillators
- Transvenous Implantable Cardioverter Defibrillator (T-ICDs)
- Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs)
- Cardiac Resynchronization Therapy- Defibrillator (CRT-D)
- External Defibrillators
- Manual External Defibrillator
- Automated External Defibrillator (AEDs)
- Wearable Cardioverter Defibrillator (WCDs)
By End User
- Hospitals
- Pre-Hospitals
- Public Access Market
- Alternative Care
- Home
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Egypt
- Israel
- South Africa
- Rest of LAMEA
List of key players profiled in the report:
- Asahi Kasei Corporation
- Stryker Corporation
- Biotronik SE & Co KG
- Boston Scientific Corporation
- Philips Healthcare
- LivaNova PLC
- Medtronic plc
- Cardiac Science Corporation
- Nihon Kohden Corporation
- St Jude Medical, Inc
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Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Implantable Defibrillators Market, by Product Type
Chapter 5: Implantable Defibrillators Market, by Region
Chapter 6: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Implantable defibrillators market by type and region: global opportunity analysis and industry forecast, 2021–2030,” the global Implantable Defibrillator market size was valued at $3,300.00 million in 2020, and is projected to reach $5,612.62 million by 2030, registering a CAGR of 5.3% from 2021 to 2030.An implantable defibrillator is an implantable electronic device, which is effective for the treatment of sudden cardiac arrest (SCA) as well as for arrhythmia. The device can be programmed to detect an abnormal heart rate and to deliver shocks as per requirement. Implantable defibrillators are used to prevent sudden death in patients who sustained atrial fibrillation or ventricular tachycardia. These devices are implanted inside patient’s body and perform defibrillation, pacing of heart, and cardioversion. Irregular heart rhythms that require ICD implant include bradycardia, ventricular tachycardia, and ventricular fibrillation.
Implantable defibrillators are used when the heartbeat is not normal and tries to return the heartbeat to normal. If the ICD has a pacemaker feature when the heartbeat is too slow, it works as a pacemaker and sends tiny electric signals to the heart. When the heartbeat is too fast or chaotic, it gives defibrillation shocks to stop the abnormal rhythm. It works 24 hours a day. New devices also provide pacing to electrically convert a sustained ventricular tachycardia (fast heart rhythm) and backup pacing if bradycardia (slow heart rhythm) occurs. They also offer a host of other sophisticated functions such as storage of detected arrhythmic events and the ability to perform electrophysiologic testing.
Implantable defibrillator devices that constantly monitor the heart rhythm and when it detects an abnormally fast heart rhythm, it delivers energy to the heart muscle. The S-ICDs is a completely extra thoracic device, which has recently received FDA approval for prevention of sudden cardiac death. One of the primary advantages of subcutaneous implantable cardioverter-defibrillators is the absence of wires within the heart and preservation of central venous circulation. This property of the equipment makes it a great alternative for children with congenital heart disease with no venous access who were inappropriate for transvenous ICD.
Globally, it has been observed that maximum causes of deaths are caused due to heart diseases. This surge in geriatric population and increase in prevalence of chronic health conditions such as cardiac arrhythmia, ventricular fibrillation, and pulseless ventricular tachycardia, growth in preference for S-ICDs, and rise in awareness among patients regarding implantable defibrillators are expected to drive the implantable defibrillators market growth. Moreover, exposure of new technologies and increase in adoption of implantable defibrillators are expected to lead to spontaneous growth of the defibrillator market.
However, risk factors such as infection in the implanted area, sudden damage to veins where ICD leads are placed, and bleeding around the heart are some factors that hinders growth of the implantable defibrillator market. Moreover, lack of awareness toward availability of implantable defibrillator to prevent sudden cardiac arrest (SCA) and adoption of these devices in low- and middle-income economies are projected to hamper the market growth
Along with this, increase in population along with rise in mortality, owing to cardiac arrests and other heart disease provide ample opportunities for the implantable heart defibrillator market players to grow and flourish globally.
The industry progression is being further driven by ongoing technological advancements and novel product developments in the business space. For instance, Abbott in 2020 declared receiving an FDA nod for its next-gen Gallant ICD and cardiac resynchronization therapy defibrillator devices. As per company officials, the devices offer Bluetooth technology and new patient smartphone applications for enhanced remote monitoring.
The implantable defibrillators market is segmented on the basis of type and region. On the basis of type, the market is divided into transvenous implantable cardioverter-defibrillator (T-ICDs), subcutaneous implantable cardioverter defibrillators (S-ICDS), and cardiac resynchronization therapy defibrillator (CRT-D). The transvenous implantable cardioverter-defibrillator (T-ICDs) segment currently dominates the global Implantable Defibrillator market and this trend is anticipated to continue during the forecast period as T-ICDs are the most commonly used devices to treat heart disorders for higher precision and targeted functioning.
North America accounted for a majority of the global Implantable Defibrillators market share in 2020 and is anticipated to a rise in the incidence of sudden cardiac arrest (SCA), increase in the adoption of S-ICDs, high purchasing power, and availability of advanced healthcare facilities. However, Asia-Pacific is expected to witness considerable implantable defibrillators market growth during the forecast period due to its high population base, increasing disposable incomes, and improvement in patient awareness about ICD devices.
Key Findings Of The Study
By type, the transvenous implantable cardioverter-defibrillator (T-ICDs) segment currently dominates the global Implantable Defibrillators market and this trend is anticipated to continue during the forecast period as T-ICDs are the most commonly used devices to treat heart disorders for higher precision and targeted functioning.
On the basis of region, in 2020, North America dominated the market in 2020, owing to rise in the incidence of sudden cardiac arrest (SCA), increase in the adoption of S-ICDs, high purchasing power, and availability of advanced healthcare facilities. However, Asia-Pacific is expected to witness considerable implantable defibrillator market growth during the forecast period due to its high population base, increasing disposable incomes, and improvement in patient awareness about ICD devices.
Companies Mentioned
- Abbott
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- Fukuda Denshi Co. Ltd.
- Imricor Medical Systems
- Koninklijke Philips N.V.
- LivaNova Plc Company
- Medtronic Plc
- Microport scientific corporation
- Nihon Kohden Corporation.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 172 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 13168 million |
| Forecasted Market Value ( USD | $ 24608.3 million |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
