Defibrillators are used to restore normal heartbeat by sending controlled electric pulse to the heart. These devices are used to correct an arrhythmia. There are different types of defibrillators, such as implantable and external defibrillators. Defibrillators work on the principle of electrical shock transfer to the chest area of the patient. This induces impulses to the heart membrane, which stabilizes cardiac rhythm. Defibrillator is also considered as an effective resuscitation tool in emergency medical services.
Global defibrillators market is estimated to be valued at US$ 16,843.5 million in 2022 and is expected to exhibit a CAGR of 5.7% during the forecast period (2022-2030).
Figure 1. Global Defibrillators Market Share (%), by Product Type, 2022
Increasing incidence and prevalence of cardiovascular disorders is expected to fuel growth of the global defibrillators market.
Increasing incidence and prevalence of cardiovascular disorders in developed and emerging economies worldwide is expected to lead to high demand for efficient defibrillator products during the forecast period. For instance, according to World Health Organization, 17.9 million
People die each year from cardio vascular disease, an estimated 32% of all deaths worldwide. Less than 75% of the cardiovascular disease deaths occur in low- and middle-income countries. 85% of all cardio vascular disease deaths are due to heart attacks and strokes. Coronary heart disease is the most common type of heart disease, causing death of 382,820 people in 2020. In 2020, about 2 in 10 deaths from cardiac arrested disease happen in adults less than 65 years old.
Moreover, increasing patient population affected with cardiovascular disorder is expected to lead to high demand for defibrillators over the forecast period. However, product recalls are expected to hinder growth of market during the forecast period. For instance, in June 2019, Abbott recalled 204 Ellipse implantable cardioverter defibrillators due to electrical failure because of faulty manufacturing which led to exposed aluminum wires, which can cause electrical shorting of the capacitor.
| Report Coverage | Details | ||
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| Base Year: | 2021 | Market Size in 2022: | US$ 16,843.5 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 5.7% | 2030 Value Projection: | US$ 26,235.6 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Koninklijke Philips N.V., Metrax GmbH, Medtronic, Mindray Medical International Limited, Boston Scientific Corporation, GE Healthcare, Nihon Kohden, Abbott, BIOTRONIK, Stryker, and LivaNova PLC. |
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| Restraints & Challenges: |
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Figure 2. Global Defibrillators Market Share (%), by Region, 2022
Increasing technological advancements in defibrillators is a major factor propelling growth of the global defibrillators market.
Defibrillators have improved significantly in terms of cost, size reduction, and ease of operation. Two of the most important of these advancements are development of automated external defibrillator (AED) and implantable cardioverter defibrillator (ICD). These devices help prevent cardiac attacks, with little or no external assistance irrespective of the time and location in case of any major variations in heartbeat. With technological improvements, operating a defibrillator has become easy for an observer post induction of proper training. For instance, in April 2019, Biotronik, Medical Device Company launched the Acticor device family of new implantable cardioverter-defibrillators and cardiac resynchronization therapy defibrillators (CRT-Ds). Boston Scientific, biomedical/biotechnology engineering firm and multinational manufacturer of medical devices launched the Resonate family of implantable cardioverter defibrillator and CRT-D systems in September 2017.
Global Defibrillators Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.
COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, medical devices by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of drugs and medical devices from one place to another.
However, the COVID-19 pandemic had a negative impact on the global defibrillators market, owing to the reduced surgical procedures during COVID-19 pandemic. For instance, in July 2020, according to data published by the National Center for Biotechnology Information, significant decrease in cardiac implantable electronic device (CIED) de novo implantations during the COVID-19 pandemic (year 2020) . The surgical procedures were post ponded due to increased risk of COVID-19. During the first outbreak/lockdown period, the widespread fear of contagion among patients and physicians, the stricter restrictive measures regarding transportations, and the health authorities’ warnings suggesting social distancing and avoiding hospital visits for non-urgent situations led to a unanimous decrease in all scheduled medical interventional procedures including cardiac implantable electronic device implantation.
Global Defibrillators Market: Key Developments
In February 2022, ZOLL Medical Corporation, an Asahi Kasei company that manufactures medical devices and related software solutions received US Food and Drug Administration approval for automated external defibrillators (AEDs) to file a premarket approval application (PMA). Manufacturers of previously-cleared necessary accessories (such as batteries, pad electrodes, adapters) for the operation of AED systems that are FDA-approved are required to file a premarket approval application (PMA).
Global Defibrillators Market: Restraint
The major factors that hinder growth of the global defibrillators market include product recalls. For instance, in June 2019, Abbott recalled 204 Ellipse implantable cardioverter defibrillators due to electrical failure because of faulty manufacturing which led to exposed aluminum wires which can cause electrical shorting of the capacitor.
Key Players
Major players operating in the global defibrillators market include Koninklijke Philips N.V., Metrax GmbH, Medtronic, Mindray Medical International Limited, Boston Scientific Corporation, GE Healthcare, Nihon Kohden, Abbott, BIOTRONIK, Stryker, and LivaNova PLC.
Defibrillation is a technique that is considered as a definitive treatment of cardiac arrests and arrhythmias. Defibrillators are devices that are used to defibrillate or stabilize the heartbeat of the patient in a condition of arrhythmias and ventricular tachycardia. The major function of defibrillation in ventricular arrhythmias is to apply a controlled electrical shock to the heart, which leads to the depolarization of the electrical conduction system of the heart. After the heart is polarized the normal electrical conduction is attained, thus terminating ventricular arrhythmia. A shock from a personal defibrillator can be painless. People who are at high risk for a life-threatening heart rhythm may have these defibrillator types’ namely wearable cardioverter defibrillator and implantable cardioverter defibrillator.
Market Dynamics
High incidence of cardiac disorders along with increasing technological advancements in defrillators, and healthcare expenditure by government and non-government organization are major factors driving the global defibrillators market growth. For instance in 2019, according to the Center for Medicare and Medicaid Services’ report, the national healthcare expenditure is projected to increase by 4.8% in 2019, up from 4.4% in 2018, to reach US$ 3.8 trillion in the U.S.
Furthermore, key players in market are focused on adopting growth strategies such as mergers and acquisitions and product development to expand their product portfolio, which is expected to drive the market growth. For instance, in June 2019, Koninklijke Philips N.V. received U.S. Food and Drug Administration (FDA) premarket approvals for automated external defibrillators, HeartStart OnSite defibrillator and HeartStart Home defibrillator.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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