Defibrillator Market Expected to Reach $30.88 billion by 2032

As per the report published by The Brainy Insights, the global defibrillator market is expected to grow from USD 13.69 billion in 2022 to USD 30.88 billion by 2032, at a CAGR of 8.47% during the forecast period 2023-2032. The market for defibrillators is predicted to grow at the fastest rate of 11.57% in Asia Pacific. This is because of the growing patient population, healthcare industry, and prevalence of heart problems. The Japanese market is promoting regional expansion since defibrillators are widely used, and there is helpful legislation. Furthermore, Nihon Kohden, a leading manufacturer of manual external defibrillators in Japan, announced sales of more than USD 66,000 in 2020.

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Leading companies in the industry include Abbott, BIOTRONIK SE & Co. KG, Koninklijke Philips N.V., ZOLL Medical Corporation (Asahi Kasei), Progetti Srl, MS Westfalia GmbH, AXION Ltd., MicroPort Scientific Corporation, CU Medical Systems, Mediana Co. Ltd., Metrax GmbH - PRIMEDIC, Avive Solutions Inc., HeartHero Inc., Medtronic, Schiller AG, Bexen Cardio, METsis Medikal, BPL Medical Technologies, Jeevtronics Pvt. Ltd., Shenzhen Comen Medical Instruments Ltd., Boston Scientific Corporation, Nihon Kohden Corporation, Element Science Inc., AMI Italia, Stryker, Mindray Medical International Ltd. among others, offer more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The global defibrillator market has been segmented based on product, end-use, and region. The product segment is divided into External Defibrillators (ED) and Implantable Cardioverter Defibrillators (ICD). The External Defibrillators (ED) segment is anticipated to experience the highest CAGR of 12.33% over the forecast period. This is due to programs and technological advancements that make AEDs more accessible in public places. It is being considered to take steps to increase the accessibility and availability of AEDs (Public Access). Putting defibrillators in public places and increasing the demand for AEDs will be mandatory if the policy is implemented. The end-use segment is divided into pre-hospital, alternate care market, hospital, home healthcare, and public access market. The segment for the public access market is anticipated to grow at the highest CAGR of 10.62% over the forecasted period. The public access market segment is expanding due to increased efforts to train employees, increase public access to AEDs, and improve response times in cases of sudden cardiac arrest. First-class cities, tourist hotspots, and coastal provinces had already begun deploying AEDs quickly. For the first time, AED distribution at airports, metro stations, police vehicles, ships, and other public sites has become compulsory in several locations.

An increase in product developments, an increase in the frequency of sudden cardiac arrest, more public awareness, and supportive measures by governmental and healthcare organizations are some of the key factors driving this market's growth. Despite improvements in treatment and prevention, about half of all deaths from cardiovascular disease are still caused by sudden cardiac arrest. This will increase market demand for ICDs and external defibrillators, fostering market innovation.

About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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