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Defibrillator Market Size, Industry Shares, Growth Revenue Insights Through 2030

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Defibrillator Market Size, Industry Shares, Growth Revenue Insights Through 2030

October 20
09:45 2021
Defibrillator Market Size, Industry Shares, Growth Revenue Insights Through 2030
Geographically, the defibrillator market in North America is expected to witness lucrative growth, as a result of the surging geriatric population, initiatives taken by government and non-government organizations to support research and development on the products, increasing healthcare expenditure, and presence of giant players.

With the growing geriatric population, the global defibrillator market size is set to increase from $9,621.2 million in 2019 to $20,281.6 million by 2030, at a 7.2% CAGR between 2020 and 2030. As per the World Population Ageing 2019 report published by the United Nations (UN), from 703 million in 2019, the population of people 65 years or older will rise to 1.5 billion by 2050. During this period, the geriatric population will grow by over 312 million in East and Southeast Asia and by over 226% in northern Africa and western Asia.

The reason this will benefit the defibrillator market is that with age, the risk of cardiovascular diseases (CVDs) increases. A defibrillator is one of the most effective tools to manage a cardiac emergency, as it sends an electric shock to restore the normal sinus rhythm of the heart. With one in every six persons set to be in the age group of 65 and above by 2050, as per the UN, the demand for these devices will continue to rise.

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The COVID-19 pandemic is currently ill-affecting the defibrillator market, because of a disruption in the supply chain of components and the final products and postponement of numerous government-funded defibrillator projects. Only once the lockdown is lifted and import and export activities recover to pre-COVID-10 levels, will the procurement of these devices rise again.

Defibrillator Market Segmentation Analysis

Till 2019, the external defibrillator bifurcation held the larger volume share in the defibrillator market, on the basis of type. This is ascribed to the rapid installation of automated external defibrillators (AEDs) at public spaces, such as educational institutions, transit stations, and shopping complexes. Moreover, every hospital has at least one external defibrillator in each department; in comparison, implantable cardioverter defibrillators (ICDs) are only required for patients at a high risk of stroke and other cardiac issues, therefore witness lower sales.

The adult bifurcation would witness the higher revenue CAGR in the defibrillator market, of 7.4%, in the years to come, under segmentation by patient type, as the incidence of CVDs in higher in this population than in children. The Heart Disease and Stroke Statistics 2018 report published by the American Heart Association (AHA) says that in 2018, 347,322 cases of out-of-hospital cardiac arrests (OHCA) were registered among adults, compared to 7,037 among the pediatric population.

Throughout the next decade, the defibrillator market, based on distribution channel, will be dominated by the direct bifurcation. Because these devices are expensive and critical in nature, most customers purchase them directly from the manufacturer, whom they can trust. Even manufacturers benefit from direct sales, as this channel helps the product reach the customer faster, which further builds a healthy manufacturer–customer relationship.

Browse report with detailed COVID-19 impact analysis on Defibrillator Market Share and Growth Forecast to 2030

The hospitals, clinics, & cardiac centers category generated the highest revenue in the defibrillator market, under the end user segment, during 2014–2019. This was a result of the procurement of advanced models for better patient outcomes and higher efficiency in medical settings.

North America has been the largest defibrillator market in the past, and it will continue being so in the future, due to the existence of several prominent product manufacturers and heavy government and private investments for related research and development (R&D). In addition, the region has advanced healthcare infrastructure and a supportive reimbursement scenario, which allows people to purchase this expensive life-saving piece of equipment.

Companies Expanding Their Product Portfolio for Higher Sales

In order to increase their sales volume and revenue, companies in the defibrillator market are launching new and advanced variants.

For instance, in January 2020, Medtronic plc had its Micra AV defibrillator approved by the U.S. Food and Drug Administration (FDA). This extremely small pacemaker comes with atrioventricular (AV) synchrony, which makes it ideal for patients with AV block, wherein the electrical signal doesn’t travel from the atria to the ventricles.

Similarly, in November 2019, BIOTRONIK SE & Co. KG subsidiary BIOTRONIK Inc. launched its new line of cardiac resynchronization therapy defibrillators (CRT-Ds) and implantable cardioverter defibrillators (ICDs) in Latin America (LATAM). The products are designed to be unaffected by full-body magnetic resonance scans (MRI) of up to 3 Tesla strength.

The most prominent players in the global defibrillator market are Abbott Laboratories, Koninklijke Philips N.V., Stryker Corporation, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Medtronic plc, Defibtech LLC, SCHILLER AG, Cardiac Science Corporation, ZOLL Medical Corporation, Opto Circuits Limited, CU Medical Systems, MicroPort Scientific Corporation, Mindray Medical, Mediana co. Ltd., Metsis Medikal, Nihon Kohden Corporation, LivaNova PLC, and Progetti S.r.l.

Defibrillator Market Size Breakdown by Segment

By Type

  • Implantable Cardioverter Defibrillators (ICDs)
    • Transvenous implantable cardioverter defibrillators (T-ICDs)
      • Cardiac resynchronization therapy defibrillators (CRT-Ds)
      • Dual-chamber ICDs
      • Single-chamber ICDs
    • Subcutaneous implantable cardioverter defibrillators (S-ICDs)
  • External Defibrillators
    • Manual defibrillators
    • Automated defibrillators (AEDs)
      • By technology
        • Fully automated
        • Semi-automated
      • By type
        • Non-wearable
        • Wearable

By Patient Type

  • Adult
  • Pediatric

By Distribution Channel

  • Direct
  • Indirect

By End User

  • Hospitals, Clinics, & Cardiac Centers
  • Pre-Hospital Care Settings
  • Public Access Settings
  • Home Care Settings
  • Others

By Region

  • North America Defibrillator Market
    • By type
    • By patient type
    • By distribution channel
    • By end user
    • By country – U.S. and Canada
      • U.S. defibrillator market
        • By type
        • By patient type
        • By distribution channel
        • By end user
      • Canada defibrillator market
        • By type
        • By patient type
        • By distribution channel
        • By end user
  • Europe Defibrillator Market
    • By type
    • By patient type
    • By distribution channel
    • By end user
    • By country – Germany, France, Italy, U.K., Poland, Spain, Netherlands, Russia, Switzerland, Belgium, and Rest of Europe
      • Germany defibrillator market
        • By type
        • By patient type
        • By distribution channel
        • By end user
      • France defibrillator market
        • By type
        • By patient type
        • By distribution channel
        • By end user
      • U.K. defibrillator market
        • By type
        • By patient type
        • By distribution channel
        • By end user
      • Italy defibrillator market
        • By type
        • By patient type
        • By distribution channel
        • By end user
      • Poland defibrillator market
        • By type
        • By patient type
        • By distribution channel
        • By end user
  • Asia-Pacific (APAC) Defibrillator Market
    • By type
    • By patient type
    • By distribution channel
    • By end user
    • By country – Japan, China, India, Australia, South Korea, Thailand, and Rest of APAC
      • China defibrillator market
        • By type
        • By patient type
        • By distribution channel
        • By end user
      • Japan defibrillator market
        • By type
        • By patient type
        • By distribution channel
        • By end user
      • India defibrillator market
        • By type
        • By patient type
        • By distribution channel
        • By end user
  • Latin America (LATAM) Defibrillator Market
    • By type
    • By patient type
    • By distribution channel
    • By end user
    • By country – Brazil, Mexico, and Rest of LATAM
  • Middle East and Africa (MEA) Defibrillator Market
    • By type
    • By patient type
    • By distribution channel
    • By end user
    • By country – Saudi Arabia, South Africa, and Rest of MEA

Browse Other Related Reports

Automated External Defibrillator Market – Globally, North America is projected to account for the largest revenue share in the automated external defibrillator (AED) market in 2030. This can be attributed to the existence of established players in the market, rising geriatric population, and increasing awareness among people about the usage of AEDs during a cardiac arrest. Other regions, such as Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA), also hold considerable shares in the market.

North America Defibrillators Market – In North America, the market will demonstrate the highest growth in the U.S. in the upcoming years. This is ascribed to the rising prevalence of sudden cardiac arrests (SCAs), increasing usage of AEDs in hospitality settings and schools, soaring number of initiatives being taken by the government for creating awareness about these devices and provide training programs on defibrillation, and the existence of numerous defibrillator producing companies in the region.

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