Defibrillator Market Size, Share & Trends Analysis Report By Product (ICD, External Defibrillator), By End-use (Hospital, Pre-hospital, Public Access, Alternate Care, Home Healthcare), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global defibrillators market was valued at USD 10.9 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.6% from 2021 to 2028.. Rising adherence of integrated technology, incidences of cardiac disorders, awareness regarding the importance of good cardiac health, and legislative reforms are the key growth drivers for this market.

In the wake of COVID-19, the International Liaison Committee on Cardiopulmonary Resuscitation (ILCOR) changed the resuscitation guidelines during the pandemic. It suggested improving defibrillation delivery by providing training to healthcare workers which can reduce the confusion as well as delay in COVID-19 resuscitation efforts. The training would also ensure that healthcare providers are not exposed to additional risks and patients suffering from tachyarrhythmic arrests can also be provided their first and best chance of survival.

Furthermore, defibrillators were found to be extremely useful in reviving sudden cardiac arrest in COVID19 which further pushed for the demand for defibrillators in the pandemic situation. Timely supportive regulations and increasing adoption is further anticipated to provide this market with a lucrative growth platform in the next few years.

As per the National Heart, Lung, and Blood Institute (2020), in the U.S. more than 2, 50,000 people die every year due to sudden cardiac arrest. All the states within the U.S. have supported and enforced broad public access laws for reducing deaths due to sudden cardiac arrest. According to American Heart Association, every year around 20,000 lives are saved due to the availability of defibrillators publicly. The state also recommended that Public Access Defibrillators (PADs) must be available in the public holdings, transportation centers, and residential apartments.

In the U.K., a training program for students was introduced, which was conducted by the Advanced Coronary Treatment (ACT) Foundation in association with British Columbia Emergency Health Services (BCEHS) in secondary schools. BCEHS has paramedic volunteers who train teachers to educate students. In certain schools, they are planning to introduce defibrillator training as a part of the physical education curriculum. Such initiatives, help in increasing awareness regarding cardiac conditions and availability of treatment options, such as defibrillators, hence boosting the market growth.

COVID19 defibrillators market impact: 7.20% decline in demand

Collaborations, partnerships, acquisitions, product approvals, and launches have significantly impacted the market in recent years. Furthermore, there has been a significant increase in the demand for defibrillators due to its increasing awareness which in turn is fueling the market growth.

Product Insights

The ICD segment dominated the market and accounted for more than 75.0% share of the global revenue in 2020. The growing demand for ICDs for patients with nonischemic cardiomyopathy significantly improved the survival rate and thereby reduces the risk of mortality which is expected to offer opportunities for the ICD manufactures, hence fueling the market growth. The ICD segment is further divided into S-ICD and T-ICD. T-ICDs are further segmented into a single chamber, dual-chamber, and CRT-D.

The external defibrillator segment is expected to show lucrative growth over the forecast period. The segment is further classified into manual EDs, automated EDs, and wearable cardioverter-defibrillators. The rapid innovations and advancements in automated ED technology and the introduction of novel products by key manufactures for enhancing their presence in the market are pushing the development of the external defibrillator market throughout the world. For instance, in September 2019, Shenzhen Mindray Bio-Medical Electronics Co. Ltd. launched the BeneHeart C Series AED for improving resuscitation during sudden cardiac arrest (SCA) cases.

End-use Insights

The hospital segment dominated the market and accounted for the largest revenue share of over 89.0% in 2020. This is because hospitals are the primary point of care for the treatment of any type of disease, including cardiac arrests. According to the Centers for Disease Control and Prevention (CDC), as of September 2020, approximately 655,000 Americans are dying suffering from cardiovascular disease every year.

On the other hand, the public access market segment is estimated to register the fastest CAGR of around 8.6% over the forecast period owing to the increasing installation of defibrillators at public places. According to the National Institutes of Health, approximately 18,000 Americans have a shockable cardiac arrest in public and out of hospitals with witnesses. It also estimates that 1,700 victims are saved annually by bystanders using an automated external defibrillator rather than waiting for emergency medical services. Such factors are expected to drive market growth.

Regional Insights

North America dominated the defibrillator market and accounted for a revenue share of 35.0% in 2020. This is because several companies present in the region, especially in the U.S. are taking up initiatives to improve public access to defibrillators. Europe is anticipated to be the second-largest market for defibrillators owing to the increasing incidence rate of cardiovascular diseases as well as the presence of a huge target population base.

Asia Pacific is expected to expand at the fastest CAGR over the forecast period owing to the presence of rapidly growing economies such as India and China. Also, countries such as Japan have a high penetration of defibrillators, which further boosts the market growth during the forecast period. Companies are also looking to expand their geographical footprint in the region.

Within the Latin American region, Brazil is expected to demonstrate significant growth as the country has a very high population suffering from sudden cardiac arrests. Also, the overall healthcare system of Brazil is improving, which fuels the market growth. Furthermore, Saudi Arabia and UAE are considered the largest markets for medical devices in the Middle East, which fuels the market growth in the region.

Key Companies & Market Share Insights

The market leaders are involved in acquisitions, strategic collaborations, and new product launches to withstand the competition. Major market players are investing in acquisitions and launching new products to enhance their position in the market. For instance, in July 2020, Abbott received the U.S. Food and Drug Administration (FDA) clearance for its Gallant ICD and CRT-D devices. This enabled the company to market the device in the U.S. while expanding its portfolio. Some of the prominent players in the defibrillator market include:

• Medtronic

• Abbott

• Boston Scientific Corporation

• Stryker

• Koninklijke Philips N.V.

• Zoll Medical Corporation

• Biotronik, Inc.

• Nihon Kohden Corporation

• Progetti Srl

• Schiller

• MS Westfalia GmbH

• AMI Italia

• Axion Ltd.

• Bexen Cardio

Defibrillator Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. 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, 2016 - 2028)

  • Implantable Cardioverter Defibrillator

    • S-ICD

    • T-ICD

      • Single Chamber

      • Dual Chamber

      • CRT-D

  • External Defibrillator

    • Manual ED

    • Automated ED

    • Wearable Cardioverter Defibrillators

• End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • Hospital

  • Pre Hospital

  • Public Access Market

  • Alternate Care Market

  • Home Healthcare

• Regional Outlook (Revenue, USD Million; 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE