Defibrillator Market to Generate USD 24.60 Billion by 2030 | Trends 2023 and Future Scenarios

How big is the defibrillator market?

According to the report published by Allied Market Research, the global defibrillator market generated $13.16 billion in 2020, and is expected to reach $24.60 billion by 2030, witnessing a CAGR of 6.6% from 2021 to 2030.

Focus on installation of public access defibrillator (PAD) by the public and private organizations, development of advanced defibrillator devices, and increase in incidence of cardiac diseases drive the growth of the global defibrillator market. Moreover, rise in adoption of technologically advanced defibrillator devices and rise in demand for quality medical care supplement the growth. However, surge in pricing pressure on market players restrains the market growth. On the other hand, advancements in the next-generation external defibrillators to improve safety and effectiveness present new opportunities in the coming years.

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Key Takeaways:

• Market Growth and Demand: The global defibrillators market had been experiencing steady growth due to an increasing prevalence of cardiovascular diseases, rising geriatric population, and growing awareness about the importance of timely defibrillation in saving lives.
• Types of Defibrillators: The market included various types of defibrillators, including automated external defibrillators (AEDs), implantable cardioverter defibrillators (ICDs), and external defibrillators used in hospitals and clinics. AEDs were especially gaining prominence due to their ease of use and increasing deployment in public spaces.
• Technological Advancements: Technological advancements were driving innovation in the market. This included features such as real-time feedback on CPR quality, connectivity to emergency services, and integration with mobile applications for remote monitoring and data analysis.
• Public Awareness and Access: Efforts to raise public awareness about CPR and the use of AEDs in emergencies were contributing to increased demand for AEDs in public spaces like airports, schools, gyms, and malls.
• Increasing Cardiac Arrest Cases: The rising incidence of sudden cardiac arrests (SCA) in both healthcare settings and out-of-hospital environments was spurring the demand for defibrillators. Prompt defibrillation is critical to improving survival rates for SCA patients.

Market Drivers:

Prevalence of Cardiovascular Diseases: The primary driver for the defibrillators market is the high prevalence of cardiovascular diseases, such as heart arrhythmias, ventricular fibrillation, and sudden cardiac arrest. As these conditions continue to affect a significant portion of the global population, the demand for defibrillators to treat and manage these conditions remains strong.

Aging Population: The aging global population contributes to an increased incidence of heart-related diseases and conditions. Elderly individuals are more susceptible to cardiac issues, making the need for defibrillators and related interventions even more crucial.

Rising Awareness: Public awareness campaigns, educational initiatives, and first aid training programs have increased awareness about sudden cardiac arrest and the importance of timely defibrillation. This increased awareness has led to higher demand for defibrillators in public spaces, workplaces, and community settings.

Market Segmentation:

Type of Defibrillator:

• • Automated External Defibrillators (AEDs): Designed for use by laypersons or first responders. They are often found in public spaces and are user-friendly.
  • Implantable Cardioverter Defibrillators (ICDs): Surgically implanted devices for individuals at risk of life-threatening arrhythmias. They continuously monitor heart rhythms and deliver shocks when needed.
  • External Defibrillators: Used in hospitals and medical facilities, including manual external defibrillators and monitor/defibrillators used by medical professionals.

End User:

• • Hospitals and Clinics: Medical facilities use defibrillators for cardiac arrest response and in critical care units.
  • Pre-hospital Care Settings: Emergency medical services (EMS) and first responders use defibrillators to treat cardiac arrest patients before reaching the hospital.
  • Public Access Settings: AEDs are placed in public areas like airports, schools, gyms, and shopping malls to provide immediate assistance to cardiac arrest victims.

Geography:

• • North America: Including the United States and Canada.
  • Europe: Including countries within the European Union.
  • Asia-Pacific: Including countries such as China, Japan, India, and Australia.
  • Latin America: Including countries in Central and South America.
  • Middle East and Africa: Including various countries in these regions.

Technology and Features:

• • Basic AEDs: Standard automated external defibrillators with minimal features for ease of use.
  • Advanced AEDs: AEDs with additional features like real-time CPR feedback, connectivity options, and voice prompts.
  • Implantable Defibrillators: Categorized based on the sophistication of monitoring and therapy delivery capabilities.

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Regional Growth Dynamics:

North America contributed to the highest share in 2020, accounting for around two-fifths of the total market share, and is expected to continue its dominance in terms of revenue by 2030. However, Asia-Pacific is estimated to portray the largest CAGR of 8.2% during the forecast period.

Competitive Landscape:

Leading players of the global defibrillator market analyzed in the research include Asahi Kasei Corporation, Biotronik SE & Co. KG, Stryker Corporation, Philips Healthcare, Boston Scientific Corporation, Medtronic plc, LivaNova PLC, Nihon Kohden Corporation, Cardiac Science Corporation, and St. Jude Medical, Inc.

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