Global Defibrillator Market 2023: Cardiovascular disease patients numbers outnumbering previous records, boosting defibrillator market growth | Medtronic,Abbott, Boston Scientific Corporation

The defibrillator market refers to the market for medical devices used to treat life-threatening heart conditions, such as sudden cardiac arrest (SCA). Defibrillators are devices that deliver an electrical shock to the heart to restore its normal rhythm.

There are two main types of defibrillators: external defibrillators and implantable defibrillators. External defibrillators are used in emergency situations outside of a hospital setting, while implantable defibrillators are surgically implanted in the chest and used for long-term treatment of heart conditions.

Defibrillator Market analysis report by Persistence Market Research shows that global sales of the Defibrillator Market in 2021 were held at US$ 11.4 Bn. With 7.4%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth. Implantable Cardioverter Defibrillators (ICD) are expected to be the highest revenue-generating segment in the defibrillator market, projected to grow at a CAGR of over 7.4% during 2022 - 2032.

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There are two main types of defibrillators: manual and automated. Manual defibrillators are operated by trained medical professionals, while automated defibrillators are designed for use by laypersons with minimal training. Automated defibrillators are becoming increasingly popular due to their ease of use and ability to quickly provide life-saving treatment in emergency situations.

The global defibrillator market is segmented based on product, end-user, and geography. Based on product, the market is divided into manual defibrillators and automated defibrillators. Automated defibrillators are further segmented into external and implantable defibrillators. By end-user, the market is classified into hospitals, emergency medical services, public access, and home care.

Companies

Medtronic
Abbott
Boston Scientific Corporation
Stryker
Zoll Medical Corporation
Biotronik
Nihon Kohden Corporation
METRAWATT International
Datrend Systems
Fluke
BC Group International
Netech

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Geographically, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America holds the largest share of the global defibrillator market, followed by Europe. This is mainly due to the high incidence of cardiovascular diseases and the presence of a well-established healthcare infrastructure in these regions.

The Asia-Pacific region is expected to witness the highest growth rate during the forecast period, due to the increasing incidence of cardiovascular diseases, the growing awareness of the importance of early defibrillation, and the increasing adoption of automated defibrillators in this region.

The major players operating in the global defibrillator market include Philips Healthcare, Medtronic, Cardiac Science Corporation, Zoll Medical Corporation, Stryker Corporation, and others.

Competitive Analysis

Defibrillator Market companies are constantly upgrading and increasing their product offerings. Innovation of next-generation external defibrillators, which are expected to increase safety and efficacy, is expected to generate profitable prospects for the market.

Some of the recent developments by key defibrillator providers are as follows:

In July 2020, Phillips gained FDA 510 (k) clearance in July 2020 for their professional defibrillator (Tempus LS- Manual), allowing them to market their remote monitor and defibrillator system (Tempus ALS) to EMS clients in the United States.

In June 2020, Asahi Kasei Corporation, ZOLL Medical has received premarket authorization due to its ZOLL AED defibrillator, which offers enhanced real-time CPR support, and integrated child safety, including wifi device.

In February 2020, Abbott has received CE Mark for its innovative Gallant implanted cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices. The gadgets provide new opportunities for patient contact and remote monitoring due to improved smartphone connectivity and accompanying apps. Other benefits include a patient-friendly design, longer battery life, and MRI compatibility.

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Market Segments Covered in Defibrillator Market Analysis

By Component

Implantable Cardioverter Defibrillators (ICD)
External Defibrillators (ED)

By Type

S-ICD
T-ICD
Manual ED
Automated ED
Wearable Cardioverter Defibrillators

By End Use

Hospital
Pre Hospital
Public Access Market
Alternate Care Market
Home Healthcare

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