Global Defibrillators Market Is Projected To Succeed In USD 11 Billion By 2032

Global defibrillators sales reached USD 11 Billion in 2021. It is expected to increase at a CAGR between 2023 and 2032 of 8.05%.

Growing Demand

The growth of the defibrillator industry is driven by the increased adoption of defibrillator technologies, rising demand for quality medical services, and the increase in SCA.

The market is growing due to the increasing availability and importance of defibrillators in schools, offices, shopping malls, grocery shops, and airports. A few other factors driving market growth include a greater emphasis by key market players on public accessibility to defibrillators and an increase in training and awareness programs worldwide.

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Driving Factors

Additionally, the growing focus on public-access devices will play a significant role in the market’s growth. This is in addition to the increasing urbanization and rising elderly population, which drive market growth. Defibrillators will continue to grow due to lifestyle changes and increased healthcare infrastructure spending. A significant factor that will help slow the growth of the defibrillators industry is the increasing focus on manufacturers adopting advanced technology.

Restraining Factors

The market will slow down if there are issues with implantable or automated external defibrillators.

However, the increased use of implantable or automated external defibrillators may hinder the market for defibrillators. Cybersecurity poses a significant risk to the defibrillator market. The latest generation of implantable defibrillators uses sophisticated technology to transfer remote data. FDA expressed concern that these devices could be hacked.

Frequent recalls of products are hampering the market growth.

Recent years have seen some product recalls, mostly due to problems with connector compatibility and electrical failure. Product recalls are a frequent threat to the market for defibrillators.

However, the lack of skilled professionals in less developed countries will likely challenge the market for defibrillators. In the 2022-2029 forecast period, market growth will be slowed by the development of unfavorable conditions caused by the COVID-19 virus and the lack of awareness in developing countries about sudden cardiac death.

Market Key Trends

Market Study: Implantable Cardioverter Defibrillator – ICD

The market’s largest segment was the implantable cardioverter/defibrillator (ICD). Three types of ICDs are available: transvenous ICDs (subcutaneous ICDs), CRT with a pacemaker, and ICD function.

Because of the technological advances and increased R&D, subcutaneous and transvenous ICDs are expected to have the fastest growth rates. According to the European Heart Journal, 2019, an implantable cardioverter-defibrillator (ICD) is considered an important device for the treatment of sudden cardiac death (SCD) prevention and ventricular tachyarrhythmias.

The Australian Institute of Health and Welfare estimates that approximately 4,578 people died in 2017 from cardiomyopathy and heart failure. This segment will see growth due to increased mortality and morbidity from cardiovascular diseases and the long-term efficacy of these devices for managing arrhythmias.

Recent Development

  • Abbott received FDA approval in July 2020 to manufacture its next-generation ICDs/CRT-Ds.
  • Koninklijke Philips, a manufacturer of HeartStart FR3 & HeartStart FRX AEDs, received FDA pre-market approval in June 2020.
  • Asahi Kasei Corporation updated its Zoll AED 3 Defibrillator with real-time CPR assistance and integrated child rescue and wireless connectivity features in June 2020.

Key Companies

  • Medtronic
  • Schiller AG
  • Abbott
  • Stryker Corporation
  • Koninklijke Philips N.V.
  • BIOTRONIK SE & Co. KG
  • Asahi Kasei Corporation
  • Boston Scientific Corporation
  • Nihon Kohden Corporation
  • MicroPort Scientific Corporation

Key Market Segments:

By Product Type

  • Implantable Cardioverter Defibrillators (ICD)
    • T-ICD
    • S-ICD
  • External Defibrillators (ED)
    • Automated ED
    • Manual ED
    • Wearable Cardioverter Defibrillators

By End-use

  • Pre Hospital
  • Hospital
  • Alternate Care Market
  • Public Access Market
  • Home Healthcare

Frequently Asked Questions

  • What is the Market Value of Defibrillators Market Right Now?
  • What is the Growth Rate for the Defibrillators market?
  • Which are the Market Drivers of the Defibrillators market?
  • What are the major companies in the Defibrillators market?
  • Which Countries Data is Included in the Defibrillators market?

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About the author

Avatar of Linda Hohnholz

Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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