Defibrillators Market

Report Overview

The global defibrillators market was pegged at US$ 9.95 billion in 2020 and is expected to witness a CAGR of 3.7% during the forecast period.

Market Fundamentals

Defibrillators are devices that are used to prevent or correct arrhythmia or treat cardiac arrest. These devices send electrical pulse or shock to the heart of the person having a cardiac arrest and help in restoring the normal heart rhythm. There are different types of defibrillators including manual defibrillator, implantable cardioverter-defibrillator (ICD), automated external defibrillator (AED), advanced life support (ALS), and wearable cardiac defibrillator.

[684623]

Market Dynamics

Rising prevalence of cardiac disease, as well as other target diseases, is the major factor propelling the growth of the defibrillators market. Moreover, factors such as growing regulatory approvals and new product launches, and rising demand for automatic defibrillators in hospitals are anticipated to propel the market growth during the projected period. However, factors such as product recall by the regulatory authorities and lower awareness regarding use of defibrillators in sudden cardiac arrest are likely to hinder the market growth to a certain extent.

Market Ecosystem

The global defibrillators market has been analyzed from three perspectives: Type, End-User, and Region.

Defibrillators Market by Type

[97864634]

Based on type, the defibrillators market has been segmented into implantable cardioverter-defibrillator and external defibrillator. Implantable cardioverter-defibrillator segment is further sub-segmented into transvenous implantable cardioverter defibrillators (single-chamber ICDs, dual-chamber ICDs, and cardiac resynchronization therapy defibrillators) and subcutaneous implantable cardioverter defibrillators. The external defibrillator segment is further bifurcated into automated ED, manual ED, and wearable cardioverter-defibrillators. Implantable cardioverter-defibrillator segment held the largest market share of the defibrillators market in 2020. Technological advancements in CRT-D devices, new product launches, a rising number of implant procedures, and rising awareness for using defibrillators are some of the factors boosting segmental growth.

Defibrillators Market by End User

Based on end-user, the market has been segmented into hospitals & clinics, pre-hospitals, public access market, home care settings, and alternate care market. Hospitals & clinics held the largest share in the end-user segment. The large share of this segment is attributed to the fact that the hospital is the first preference by the patients for implanting defibrillators. Factors attributing to the growth of this segment include rising incidence of cardiac diseases and increasing number of cardiac implant procedures.

Defibrillators Market by Region

Regionally, the global defibrillators market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America held the largest market share of the global defibrillators market in 2020. The major factors contributing to the growth of the defibrillators market in this region include rising geriatric population coupled with growing prevalence of cardiac diseases. Moreover, factors such as technological advancements and launch of FDA-approved products are also anticipated to fuel the market growth during the forecast period. Furthermore, initiatives to improve public access to defibrillators and rising awareness for use of defibrillators in cases of sudden cardiac arrest are some of the other factors that are having a positive impact on the market growth.

Competitive Landscape

Some of the prominent players operating in the global defibrillators market includes:-

• Koninklijke Philips N.V
• Boston Scientific Corporation
• Cook
• Biotronik
• Medtronic
• Stryker
• CU Medical Germany GmbH
• MicroPort
• Abbott
• Zoll Medical Corporation
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd., among others

Strategic Developments
 

• In September 2020, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. launched BeneHeart C series automated external defibrillator (AED) and semi-automated defibrillator with better operations and faster shock delivery to achieve better resuscitation outcomes for sudden cardiac arrest (SCA).
• In July 2020, Koninklijke Philips N.V. launched a wireless Tempus ALS remote monitoring and defibrillator system for pre-hospital settings. Tempus ALS includes a remote portable vital signs patient monitor (Tempus Pro) and a remote professional defibrillator (Tempus LS-Manual) which can also be used separately.
• In June 2020, Koninklijke Philips N.V. received the FDA approval for their HeartStart FR3 and HeartStartFRx automated external defibrillators (AEDs).

Frequently Asked Questions About This Report