Supply of Defibrillators Market to Reflect Impressive Growth Rate by 2024

Overview of Global Defibrillator Market

Defibrillators are medical devices that deliver an electric shock or pulse to the heart in order to restore normal heartbeat. These are used to prevent or treat arrhythmias, which are irregular heartbeats that are either too slow or too fast. AEDs (automated external defibrillators) are portable, life-saving devices used to treat people who have suffered sudden cardiac arrest, a medical condition in which the heart suddenly and unexpectedly stops beating.

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Automated external defibrillators (AEDs), which are now widely available in public places, are used to save the lives of people who have suffered a cardiac arrest. In an emergency, even untrained bystanders can use these devices. Other defibrillators can help people who are at high risk of dying from a life-threatening arrhythmia. Implantable defibrillators were only recommended for cardiac arrest survivors. With upgrade of surgical techniques and advancement in technology, defibrillator implantation is now considered an outpatient procedure.

Thus, Increase in research funding, rise in government support, improvements in regulatory framework, technological advancements, and surge in prevalence of chronic diseases are projected to drive the global defibrillator market during the forecast period.

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Increase in Incidence of Cardiac Disease and Risk of Cardiac Arrest to Fuel Global Market

Cardiovascular diseases (CVDs) are the leading cause of death globally, claiming the lives of an estimated 17.9 million people every year. Coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other heart & blood vessel disorders are classified as CVDs. Heart attack and stroke account for more than four out of every five CVD deaths, with one-third of these deaths occurring before the age of 70. Sudden cardiac death is the leading cause of natural death in the U.S., accounting for around 325,000 adult deaths each year. Half of all heart disease deaths are caused by sudden cardiac death.

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Technological Advancements in Defibrillators to Drive Global Market

The growth of the global defibrillator market can be attributed to technological advancements in the field of defibrillators and defibrillator training and awareness programs. There have been several recent advancements in implantable cardioverter defibrillator (ICD) technology, including improved patient monitoring to prevent unnecessary shocks, the introduction of quadripolar lead devices to improve device programming and therapy effectiveness, and the development of MRI-safe ICDs.

Abbott Laboratories received CE mark for its product "Gallant" in 2020. It is an ICD (implantable cardioverter defibrillator) that prevents sudden cardiac arrest. Additionally, rise in prevalence of cardiovascular diseases is expected to propel the global market.

Moreover, the introduction of new products by key players is expected to propel the global defibrillator market during the forecast period. For instance, the new HeartStart Intrepid monitor/defibrillator from Royal Philips is designed to assess and treat patients in medical emergencies in both pre-hospital and hospital settings. The HeartStart Intrepid monitor/defibrillator was designed by Philips to be portable, lightweight, and rugged for use by emergency medical services (EMS) and transport within hospitals.

Philips was also a pioneer in providing automated external defibrillator (AEDs) for use in airplanes and was the first to introduce an AED for pediatric use. Presently, Philips AEDs can be found on board major airlines, airports, major hotels, Fortune 100 companies, and professional sports teams' locker rooms across the world.

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Automated External Defibrillator (AED) to be Highly Lucrative Segment

In terms of application, the global defibrillator market has been classified into advanced life support defibrillators (ALS), automated external defibrillator (AED), implantable cardioverter-defibrillator (ICD), and wearable cardiac defibrillator. The automated external defibrillator (AED) segment accounted for major market share in 2020. AEDs are portable devices used to help those experiencing sudden cardiac arrest. Automated external defibrillator is a medical device that can analyze the heart's rhythm and deliver an electrical shock or defibrillation to help the heart re-establish an effective rhythm.

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