Global Defibrillator Market Share, Size & Trend Analysis Report By Product (Implantable Cardioverter & External Defibrillator), By End-use, By Region, And Segment Forecasts, 2018 - 2025

Industry Insights

The global defibrillator market size was estimated at USD 9.8 billion in 2016, which is anticipated to grow at a CAGR of more than 7.8% during the forecast period. Increasing demand due to supportive legislation policies by the government of developed countries is a major driver responsible for growth of the defibrillator market.

Developed countries such as the U.S. and the UK are making it mandatory for certain public places which includes sports arenas, schools, government facilities, and institutes to store and maintain Automated External Defibrillators (AEDs), making them more cardio-friendly. The most common cause of death due to Sudden Cardiac Arrest (SCA) is the unavailability of defibrillators. Such changes in the legislation of a country help upsurge availability and access, thereby increasing the market size of this industry.

The rising demand for handling cardiovascular conditions is leading to innovation in implantable devices as well as external defibrillators. Innovation with regards to implantable devices includes products, such as subcutaneous and transvenous patches, that aim to increase the comfort level of patients. Swedish Transport Agency is running a program under test phase, which may deliver AEDs using a drone. This may reduce the delivery time of an AED, increasing chances of survival with faster treatment. Therefore, the defibrillator market is anticipated to grow because of technological advancements and product innovations.

Increasing prevalence of lifestyle diseases, such as cardiac disorders, globally, is causing an increase in Noncommunicable Diseases (NCD). One of the major segments of NCD is cardiovascular diseases. The prevalence of cardiovascular diseases has increased in individuals below 35 years. Among cardiovascular disorders, SCA is one of the major causes of death in younger population. Increasing awareness about the disease and rising demand for treatment of SCA is expected to upsurge the demand over the forecast period.

Training programs are being developed and conducted in schools, offices, and other public places to spread awareness about defibrillation. The ongoing training programs may be responsible for substantial increase in the demand for home care, alternate care, and public access defibrillators.

Product Insights

The defibrillator market is divided into two segments: Implantable Convertible Defibrillators (ICD) and External Defibrillators, based on products. ICDs contributed to more than 50.0% of the overall market in 2016. These devices are used as a continuous monitoring device for arrhythmias as well. The scope of these devices has increased due to the integration of other technologies, such as pacemakers, with defibrillators. As ICDs are used for managing arrhythmias for an extended period, this segment is anticipated to exhibit significant growth.

External defibrillators are used mainly for resuscitation purposes in cases of SCA. They are also used to stabilize patients until they reach the hospital or medical help arrives. External products are expected to grow at a lucrative rate during the forecast period. The growth can be attributed to supportive legislative policies in developed countries and increasing awareness & training programs pertaining to external defibrillators.

End-use Insights

Hospitals held more than 88.0% share of the overall end-use segment. Hospitals are required to be equipped with external as well as implantable defibrillators. Implantable defibrillators are available mostly in hospitals. Thus, hospitals have a substantial contribution to the growth of implantable and external defibrillators.

Maximum growth was observed in the public access market in 2016. This growth can be attributed to change in policies by governments of developed countries, making it mandatory for certain arenas and institutions to store & maintain AEDs. In addition, there is an increase in awareness and training programs, driving growth of this segment.

Regional Insights

North America accounted for a significant share of the overall market in 2016. This contribution can be attributed to increasing incidence of cardiovascular diseases, supportive government policies, favorable reimbursement schemes, increasing awareness, and increase in training programs.

Asia Pacific was identified as the fastest growing market for defibrillators. Tremendous growth opportunities are observed in this region due to increasing awareness and accessibility of these devices. In addition, increasing prevalence of cardiovascular diseases in this region also supports growth of this segment.

Defibrillator Market Share Insights

Some of the key players in defibrillator market include Medtronic; St. Jude Medical LLC; Boston Scientific Corporation; LivaNova; Koninklijke Philips N.V.; ZOLL Medical Corporation; Cardiac Science; Physio-Control Inc.; Nihon Kohden Corporation; Defibtech LLC; HeartSine Technologies LLC; Progetti Srl; Fukuda Denshi Co., Ltd.; and Schiller AG. The key strategic initiatives include new product development, acquisitions & mergers, and regional expansion.

For instance, in April 2016, Abbott announced acquisition of St. Jude Medical. This acquisition was likely to be completed in January 2017. This was aimed at strengthening the presence of Abbott in the cardiovascular segment.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global defibrillator market report on the basis of product, end-use, and region:

• Product Outlook (Revenue, USD Million; 2014 - 2025)

  • Implantable Cardioverter Defibrillator

    • S-ICD

    • T-ICD

      • CRT-D

      • Single Chamber

      • Dual Chamber

  • External Defibrillator (ED)

    • Manual ED

    • Automated ED

    • Wearable Cardioverter Defibrillator

• End-Use Outlook (Revenue, USD Million; 2014 - 2025)

  • Hospital

  • Prehospital

  • Public Access Market

  • Alternate Care Market

  • Home Healthcare

• Regional Outlook (Revenue, USD Million; 2014 - 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Mexico

    • Brazil

  • MEA

    • South Africa