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  • Published On : Aug 2022
  • Code : CMI115
  • Industry : Medical Devices
  • Pages : 180
  • Formats :

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

Defibrillators  | Coherent Market Insights

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.

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Defibrillators Market Report Coverage

Report Coverage Details
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:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Implantable Cardioverter Defibrillators (Single Chamber Implantable Cardioverter Defibrillators, Dual Chamber Implantable Cardioverter Defibrillators), External Defibrillators (Manual External Defibrillators, Automated External Defibrillators, Wearable Cardioverter Defibrillators
  • By End User: Hospitals, Cardiac Clinics, Ambulatory Surgical Centers
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.

Growth Drivers:
  • Increasing incidence and prevalence of cardiovascular disorders
  • Increasing technological advancements in defibrillators
Restraints & Challenges:
  • Product recalls 

Figure 2. Global Defibrillators Market Share (%), by Region, 2022

Defibrillators  | Coherent Market Insights

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:

  • This report provides an in-depth analysis of the global defibrillators market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global defibrillators market  based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Koninklijke Philips N.V., Metrax GmbH, Mindray Medical International Limited, Boston Scientific Corporation, GE Healthcare, Nihon Kohden, Abbott, BIOTRONIK, and LivaNova PLC
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global defibrillators market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global defibrillators market

Detailed Segmentation:

  • Global Defibrillators Markets, By Product Type:
    • Implantable Cardioverter Defibrillators
      • Single Chamber Implantable Cardioverter Defibrillators
      • Dual Chamber Implantable Cardioverter Defibrillators
    • External Defibrillators
      • Manual External Defibrillators
      • Automated External Defibrillators
      • Wearable Cardioverter Defibrillators
  • Global Defibrillators Markets, By End User:
    • Hospitals
    • Cardiac Clinics
    • Ambulatory Surgical Centers
  • Global Defibrillators Markets, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Koninklijke Philips N.V.*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Metrax GmbH
    • Medtronic
    • Mindray Medical International Limited
    • Boston Scientific Corporation
    • GE Healthcare
    • Nihon Kohden
    • Abbott
    • BIOTRONIK
    • Stryker
    • LivaNova PLC

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

Global defibrillators market size is estimated to be valued at US$ 16,843.5 million in 2022 and is expected to exhibit a CAGR of 5.7% between 2022 and 2030.
Factors such as increasing incidence and prevalence of cardiovascular disorders and increasing technological advancements in defibrillators are expected to drive the market growth.
Implantable Cardioverter Defibrillators is the leading product type segment in the market.
The major factors hampering growth of the market include product recalls.
Major players operating in the 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.

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