Defibrillator Market Industry Statistics and Growth Trends Analysis Forecast 2021 - 2031

Defibrillator Market - Overview

The global defibrillator market is expected to expand at a healthy rate from 2021 to 2031 (forecast period). Increasing product advancements, a surge in the frequency of sudden cardiac arrest, rising public awareness, and supporting efforts by healthcare organizations and governments are some of the critical aspects projected to drive the growth of the global defibrillator market.

Moreover, the increased emphasis on the availability of defibrillators in workplaces, shopping malls, schools, airports, and grocery shops is expected to boost the global defibrillator market. Furthermore, a rise in the focus of leading market participants on public access to defibrillators and a spike in the number of training and awareness programs throughout the globe is anticipated to bolster the global defibrillator market growth.

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Defibrillator Market - Competitive Landscape

Leading players in the defibrillator market are Medtronic, MicroPort Scientific Corporation, Abbott, Boston Scientific Corporation, Stryker, Nihon Kohden Corporation, ZOLL Medical Corporation (Asahi Kasei), Koninklijke Philips N.V., and Schiller AG.

To widen their worldwide presence, key market players are continuing to pursue market strategies such as partnerships, investments, technological improvements, acquisitions, and R&D activities.

Defibrillator Market - Trends and Opportunities

One of the important aspects likely to drive the global defibrillator market is the rising prevalence of cardiovascular diseases and sudden cardiac arrest throughout the world. Such problems are common among the elderly and those suffering from other associated illnesses such as atherosclerosis, diabetes, stroke, and hypertension, which is boosting product uptake in both developed and developing countries.

Moreover, the growing implementation of ICDs (Implantable cardioverter defibrillators) in healthcare facilities is projected to boost the global defibrillator market. Modern ICDs are equipped with novel transvenous and subcutaneous patches that help to improve overall efficiency and patient comfort.

Furthermore, technological improvements and the development of wearable cardioverter defibrillators (WCDs) that can help in the prognosis of sudden cardiac arrest risks are likely to have a positive influence on market growth. Other factors, including the introduction of favorable regulations to encourage defibrillator training and awareness, intensive research and development (R&D) efforts, and increased government spending in the healthcare sector, are expected to propel the global defibrillator market.

The hospital segment is anticipated to be the largest revenue generator in defibrillator market due to the increased number of cardiac patients treated in hospitals and procedures conducted in hospital settings. ICDs and external defibrillators are increasingly being utilized in hospitals to treat patients suffering from sudden cardiac arrest and for other purposes. Moreover, due to the increased need for early diagnosis and initiatives undertaken by government or commercial entities to build alternative care systems, the alternative care segment is likely to rise throughout the forecast period.

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Defibrillator Market - Regional Landscape

The defibrillator market in North America is expected to grow during the forecast period. The expansion of the regional market can be ascribed to major companies' endeavors, favorable laws, and technologically sophisticated healthcare facilities in the United States and Canada. In 2020, Boston Scientific, for example, stated that it had deployed over 33,000 of its CRT-Ds line-up, which included Dynagen, Resonate, Cognis, Incepta, and Autogen, devices globally. There were 16,500 registered in the United States alone, showing a solid adoption rate.

The Asia Pacific defibrillator market is projected to develop during the forecast period. This is due to the growing healthcare infrastructure, a large patient population, and the incidence of heart disorders. Japan is expected to be the fastest growing market for defibrillators due to high defibrillator penetration and supporting legislation. Nihon Kohden, a Japanese industry leader, sold over USD 66,000 manual external defibrillators in 2020.

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