The global defibrillator market size is expected to grow at a CAGR of 7.3% from 2021 to 2026. This market was valued at USD 12.36 billion in 2021 and worth USD 17.58 billion by 2026.
A defibrillator sends an electric shock to the heart to restore a normal heartbeat. St. Jude Medical remembered thousands of implantable defibrillators after the patient died when the device's battery failed. People affected by the recall should monitor the defibrillator carefully. Defibrillation is an effective treatment option that is received globally to treat cardiac arrest occurring due to ventricular fibrillation.
Y-O-Y Growth in the prevalence of targeted diseases, a growing number of awareness programs to spread awareness on defibrillators in the developing countries are primarily driving growth to the global defibrillators market.
Growing adoption of technological advancements, y-o-y growth in the incidence CVDs, and a rising aging population with an elevated risk of targeted diseases are some other significant factors accelerating the demand for defibrillators market. In recent times, in the wake of COVID-19, the International Liaison Committee on cardiopulmonary Resuscitation amended the resuscitation guidelines, which ensured improving defibrillation delivery by improving training to the healthcare worker, which reduced the confusion in the delay of COVID-19 resuscitation efforts. S-ICDs, MRI-compatible, and CRT-Ds are anticipated to provide growth opportunities for the development and emerging markets.
Furthermore, the rise in the concern towards quality treatment procedures and to improve the wellbeing of patients and change in food habits, and the adoption of sedentary lifestyles are indirectly contributing to the global defibrillators market. Public and private organizations are focusing on developing new technologies in the medical sector, and there is an increase in the number of training institutes, which are positive vibes to the market growth. Increasing awareness among people towards the availability of various treatment procedures, growing support from the government to improve the quality of diagnostic and treatment procedures, and increasing urbanization and growth in disposable income are expected to show favoritism towards the global defibrillators market growth.
The shortage of skilled persons in operating the systems more effectively and analyzing them is slightly hampering the growth rate of the market. Lack of standardization, failure of operations in real-time, and less knowledge in resolving the issue by technicians are significant factors that negatively impact market growth. Moreover, these systems require enormous amounts for implementation and maintenance, which is a major challenge.
Impact of COVID-19 on the global defibrillator market:
Since late December 2019, COVID 19, caused by the novel coronavirus Sars-CoV-2 has affected all the sectors in an unprecedented way. The effects of the pandemic and winding down of the concerned defibrillator market activities have affected both the operations and the financial results of many industry participants. Leading to the postponement of the activities, there has been a reduction in the research activities as the world focused on fighting against the virus.
Despite the negative impact created by the COVID-19 on the Defibrillators market at the initial period of 2020, the market is anticipated to record the largest market share during the forecast period. After the Unlock of lockdown nationwide, the supply chain has been increased. In the wake of COVID-19, the International Liaison Committee on cardiopulmonary Resuscitation has amended the resuscitation guidelines during the pandemic. The manufacturers in the industry are focussing on producing more defibrillators. In recent times, defibrillators were found to be extremely useful in reviving sudden cardiac arrest in COVID-19. The implantable cardioverters defibrillators held the largest market share in the global market. However, the market is expected to have had a better share in the market growth.
Market Size Available
2020 to 2026
2021 to 2026
By Product, End-User, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
This research report segmented and sub-segmented the Global Defibrillator Market based on product type, end-user, and region.
Defibrillator Market - By Product:
Based on the product, the implantable defibrillator type is holding the highest shares of the market. An increasing number of people with heart failure cases and a rise in emergency cases related to heart is boosting up the growth of the market. Also, the launch of innovative devices in the medical sector with the latest technologies to outshine the demand of the Defibrillator Market. The growing tendency for implant procedures is gearing up the growth rate of this market to the extent.
Defibrillator Market - By End User:
Based on the end-user, the hospital segment is holding the highest shares of the market. The rise in the construction of hospitals with the latest equipment to provide excellent therapies is lavishing the demand of the market. Besides, increasing patient's visits to the hospitals are magnifying the growth of the Defibrillator Market.
Defibrillator Market - By Region:
Geographically, North America leads the global Defibrillator Market due to the quick adoption of the latest technology and various techniques. Growing revenue in both developed and developing countries is too straight, expanding the demand of the market. The U.S. is holding the highest shares of the market from the past decade. American Heart Association study stated that about 5.5 million people are diagnosing due to heart failure in the U.S., and the death rate due to heart failure and is to reach USD 23.3 million by 2030.
The Asia Pacific and Europe are following North America in holding dominant shares of the market with the rising elderly population.
The launch of reimbursement schemes by government organizations in favor of the end-users offers growth scope to European Defibrillator Market.
KEY MARKET PARTICIPANTS:
Some of the prominent companies leading the global defibrillator market profiled in the report are Medtronic PLC (Ireland), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), LivaNova PLC (U.K.), Koninklijke Philips N.V. (Netherlands), ZOLL Medical Corporation (U.S.), Cardiac Science Corporation (U.S.), Physio-Control, Inc. (U.S.) and Nihon Kohden Corporation (Japan).
In June 2020, Philips received FDA approval for their automated external defibrillators -Heartstart FR3 and Heartstart FRx.
In January 2020, the Cobalt and Chrome portfolio of implantable cardioverter-defibrillators and cardiac resynchronization therapy- defibrillators from Medtronic received the CE Mark.
In 2019, Koninklijke Philips N.V. (Netherlands) introduced its Heartstart intrepid monitor/ Defibrillator with intelliSpace Connect.
In August 2019, the Cardiac science corporation was acquired by Zoll medical to strengthen the company’s product offering through ZOLL’S Resuscitation division.
St. Jude Medical Implantable Defibrillators, ICDs, are used to treat heart conditions that people develop at birth or in the course of life. ICD is for people at risk of life-threatening ventricular arrhythmias-abnormal and rapid cardiac rhythms (arrhythmias) in the two lower chambers (ventricle) of the heart.
Swedish carriers are currently testing a program that AEDs can deliver by drone. It shortens AED delivery times and increases the chances of survival if treated faster. Therefore, due to technological advances and product innovations, the defibrillator market is expected to grow.
St. Jude Medical LLC is one of the most important competitors in the defibrillator market, and others are Boston Scientific Corporation and Koninklijke Philips.
IN 2014, Asahi Kasei Corporation launched LifeVests. The product is a wearable defibrillator, and it helped in reducing complexity during cardiac arrest.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Implantable Cardioverter Defibrillators (ICDS)
184.108.40.206 Transvenous Implantable Cardioverter Defibrillators (T-ICDS)
220.127.116.11.1 Biventricular ICDS/Cardiac Resynchronization Therapy Defibrillators (CRT-DS)
18.104.22.168.2 Dual-Chamber ICDS
22.214.171.124.3 Single-Chamber ICDS
126.96.36.199 Subcutaneous Implantable Cardioverter Defibrillators (S-ICDS)
5.1.3 External Defibrillators
188.8.131.52 Automated External Defibrillators (AEDS)
184.108.40.206.1 Semi-Automated External Defibrillators
220.127.116.11.2 Fully Automated External Defibrillators
18.104.22.168 Manual External Defibrillators
22.214.171.124 Wearable Cardioverter Defibrillators (WCDS)
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2 End User
5.2.2 Hospitals, Clinics, & Cardiac Centers
5.2.4 Public Access Markets
5.2.5 Home Care
5.2.6 Alternate Care Markets
5.2.7 Y-o-Y Growth Analysis, By End User
5.2.8 Market Attractiveness Analysis, By End User
5.2.9 Market Share Analysis, By End User
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Product
184.108.40.206 By End User
6.1.4 Market Attractiveness Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
22.214.171.124 By End User
6.1.5 Market Share Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Product
184.108.40.206 By End User
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Medtronic PLC
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 St. Jude Medical, Inc.
8.3 Boston Scientific Corporation
8.4 Philips Healthcare (A Division of Koninklijke Philips N.V.)
8.5 Zoll Medical Corporation (A Subsidiary of Asahi Kasei Corporation)
8.6 Biotronik Se & Co.Kg
8.7 Physio-Control International, Inc.
8.8 Cardiac Science Corporation (A Portfolio Company of Aurora Capital Group)
8.9 Sorin Group (Now Livanova PLC)
8.10 Nihon Kohden Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures