Defibrillator Devices And Equipment Global Market Report 2024

The defibrillator devices and equipment market size has grown strongly in recent years. It will grow from $10.9 billion in 2023 to $11.97 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. Historical growth in the defibrillator market was influenced by the increased prevalence of cardiac arrests, a growing aging population, the integration of emergency medical services (EMS), and heightened public awareness and training initiatives.

The defibrillator devices and equipment market size is expected to see strong growth in the next few years. It will grow to $16.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The anticipated growth in the upcoming period is expected due to the rise of personalized medicine, the integration of telehealth services, increased global access to healthcare, emphasis on bystander intervention, and the promotion of public access defibrillation. Key trends anticipated in this forecast period include the emergence of wearable defibrillators, advancements in next-generation automated external defibrillators (AEDs), subcutaneous implantable cardioverter-defibrillators (S-ICDs), and enhancements in pediatric defibrillation.

The expected rise in healthcare expenditure is anticipated to drive the expansion of the defibrillator devices and equipment market in the foreseeable future. Healthcare expenditure encompasses spending on various healthcare goods and services, including personal health care, public health activities, health research, and insurance programs. Increased healthcare expenditure is likely to contribute to the higher adoption of defibrillator devices across healthcare facilities and public access defibrillation programs. For instance, according to the National Health Expenditure Account (NHEA) from the Centers for Medicare and Medicaid Services, U.S. healthcare spending experienced a 2.7% growth in 2021, totaling $4.3 trillion, or $12,914 per person. Therefore, this augmented investment in healthcare infrastructure is a driving force behind the expansion of the defibrillator devices and equipment market.

Within the defibrillator market, the primary device categories encompass implantable defibrillators and external defibrillators. Implantable defibrillators are small, battery-powered devices strategically placed within the body to detect and correct irregular heartbeats. This category includes various types such as transvenous implantable cardioverter-defibrillators (T-ICDs), subcutaneous implantable cardioverter-defibrillators (S-ICDs), and cardiac resynchronization therapy-defibrillators (CRT-Ds), available as single or dual chamber devices. Meanwhile, external defibrillators consist of manual external defibrillators (MEDs), automated external defibrillators (AEDs), and wearable cardioverter defibrillators (WCDs). These devices cater to multiple end-users, including hospitals, pre-hospital emergency services, the public access market, alternate care facilities, and home healthcare setups.

The defibrillator devices and equipment market research report is one of a series of new reports that provides defibrillator devices and equipment market statistics, including defibrillator devices and equipment industry global market size, regional shares, competitors with a defibrillator devices and equipment market share, detailed defibrillator devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the defibrillator devices and equipment industry. This defibrillator devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing occurrence of sudden cardiac arrest (SCA) stands as a significant driver for the defibrillator devices and equipment market. As reported by the American Heart Association (AHA), the annual incidence of SCA among individuals of any age approximates 356,461 cases. SCA is marked by the complete cessation of cardiac activity, and defibrillators are instrumental in delivering a therapeutic shock to revive the patient's heartbeat. This pivotal role in resuscitation contributes to the projected growth of the defibrillator market.

The impediment to the growth of the defibrillator market is primarily associated with the high costs incurred by these devices. In the United States, healthcare expenses related to administering therapeutic shocks using implantable cardioverter-defibrillators (ICDs) vary between approximately $1,300 and $20,000 per patient for outpatient and inpatient care. Besides healthcare costs, additional charges like maintenance expenses, battery replacements, and annual servicing fees contribute to the overall expense. For example, if an Automatic External Defibrillator (AED) is used on a sudden cardiac arrest victim, it necessitates maintenance before it can be employed again, entailing service, battery, and pad replacements. Due to these financial considerations, the expansion of the overall defibrillator devices and equipment market is restricted.

Major companies in the defibrillator devices and equipment market are focused on innovating new products, such as the Avive AED, aimed at enhancing survival rates. Avive AED stands out as the most compact and lightweight FDA-approved Automated External Defibrillator (AED) available, emphasizing accessibility, portability, and resilience. In January 2023, Avive Solutions Inc., a manufacturer of portable defibrillators based in the United States, secured pre-market approval (PMA) from the U.S. Food and Drug Administration (FDA) for the Avive Connect AED. This device is designed for easy placement in various settings, with optimized connectivity, rigorously tested for user-friendliness, and harnesses cellular and WiFi connectivity, GPS technology, remote maintenance, and exceptional portability in a handheld AED.

Technological advancements represent a significant trend in the defibrillator and equipment market. Over the past thirty years, Automated External Defibrillators (AEDs) have undergone substantial improvements, introducing features like rechargeable batteries, LCD screens, voice prompts, CPR tutorials, advanced self-testing software, full automatic operation, and novel shock types. Recent innovations in implantable cardioverter-defibrillator (ICD) technology aim to extend battery life, enhance patient monitoring to prevent unnecessary shocks, introduce quadripolar lead devices for improved programming and therapy effectiveness, and create magnetic resonance imaging (MRI)-safe ICDs. These advancements reflect the ongoing evolution of defibrillation technology, contributing to improved patient care.

Defibrillators are under more stringent regulations by the USFDA compared to other devices. For instance, the US FDA mandates Premarket Approval (PMA) for new and existing automated external defibrillators. Due to manufacturing issues, the FDA has recalled over 2 million devices since 2005.

Major companies operating in the defibrillator devices and equipment market include Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, Koninklijke Philips N.V, ZOLL Medical Corporation, Cardiac Science Corporation, Physio-Control Inc., Nihon Kohden Corporation, Defibtech LLC, Schiller AG, Biotronik Inc., LivaNova PLC, HeartSine Technologies LLC, Mindray Medical International Limited, Metrax Engineering Ltd., CU Medical Systems Inc., Fukuda Denshi Co. Ltd., GE Healthcare, Innomed Technologies Inc., Progetti Srl, Stryker Corporation, Welch Allyn Inc., Weinmann Emergency Medical Technology GmbH + Co. KG, Bexen Cardio, GCE Group, Lepu Medical Technology (Beijing) Co. Ltd., Shenzhen XFT Medical Limited, Zhejiang Medtec Medical Devices Co. Ltd.

North America was the largest region in the global defibrillator devices and equipment market in 2023. Western Europe was the second-largest region in the defibrillator devices and equipment market. The regions covered in the defibrillator devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the defibrillator devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The defibrillator devices and equipment market consist of sales of instruments such as manual external defibrillator, implantable cardioverter defibrillator, manual internal defibrillator, automated external defibrillator, and wearable defibrillators. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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