DEFIBRILLATORS MARKET ANALYSIS
The defibrillators market is estimated to be valued at USD 12.70 Bn in 2024 and is expected to reach USD 20.10 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031.
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The defibrillators market is expected to witness a positive growth trend over the forecast period. The rising prevalence of target diseases like cardiac arrest and sudden cardiac arrest is expected to be a key growth driver. Additionally, growing focus on providing public access defibrillators at public places is also anticipated to propel the demand for defibrillators globally. Other factors such as increasing adoption of external defibrillators over implantable defibrillators due to their non-invasive nature and higher acceptance among patients will further aid the market expansion. However, issues related to the high cost of advanced defibrillators may hinder the market growth to some extent during the analysis period.
Increasing incidence and prevalence of cardiovascular disorders
Increasing incidence and prevalence of cardiovascular disorders in developed and emerging economies worldwide is expected to lead to a high demand for efficient defibrillator products during the forecast period. For instance, according to World Health Organization, 17.9 million people die each year from cardio vascular disease, an estimated 32% of all deaths worldwide. Less than 75% of the cardiovascular disease deaths occur in low- and middle-income countries. 85% of all cardio vascular disease deaths are due to heart attacks and strokes. Moreover, increasing patient population affected with cardiovascular disorder is expected to lead to a high demand for defibrillators over the forecast period. However, product recalls are expected to hinder the growth of the market during the forecast period.
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Increasing technological advancements in defibrillatorsDefibrillators have improved significantly in terms of cost, size reduction, and ease of operation. Two of the most important of these advancements are development of automated external defibrillator (AED) and implantable cardioverter defibrillator (ICD). These devices help prevent cardiac attacks, with little or no external assistance irrespective of the time and location in case of any major variations in heartbeat. With technological improvements, operating a defibrillator has become easy for an observer post induction of proper training.
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Market Challenges: High costs associated with the devicesThe defibrillators market faces several challenges. High costs associated with the devices pose a major barrier, especially in price-sensitive emerging markets. Additionally, lack of awareness among general public about importance of early defibrillation acts as a roadblock. Many people are not trained to use defibrillators in emergency situations. Further, reimbursement policies for these life-saving devices vary significantly across countries. Together, these factors limit greater adoption of defibrillators.
Market Opportunities: Investments by governments and charitable organizations
Rising prevalence of target diseases like sudden cardiac arrest and cardiovascular disorders drives demand. Favorable regulatory environment promoting public-access defibrillators also augurs well. Technological advancements enabling miniaturization and portability widen the target base. Investments by governments and charitable organizations to install more devices create a conducive environment.
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Insights, By Product Type: Increasing out-of-hospital cardiac arrests drives external defibrillatorsThe product type segment includes implantable cardioverter defibrillators and external defibrillators. External defibrillators is anticipated to hold 61.8% of the market share in 2024. The external defibrillators segment dominates the global defibrillators market due to the growing incidence of sudden cardiac arrests occurring outside hospitals. According to the American Heart Association, around 90% of cardiac arrests occur in homes or other non-hospital settings. External defibrillators are easy to use, light in weight, and portable devices that can be easily operated by laypeople to provide defibrillation therapy in emergency situations until professional medical help arrives. Advancements in technology are further fueling the adoption of external defibrillators. Self-adhesive electrode pads and automated voice prompts make modern external defibrillators simple to operate with minimal training. The development of lightweight and compact devices has improved portability for public access use. Biphasic technology provides a higher success rate of cardioversion with less energy delivered. Falling device prices are also supporting the procurement of external defibrillators for placement in offices, sports facilities, transportation hubs and other public areas. Overall, the ease of use, technological improvements and focus on improving out-of-hospital resuscitation are driving the growth of external defibrillators globally.
Insights, By End User: Heavy defibrillator utilization propels hospitals growth
The end user segment includes hospitals, homecare settings, public access settings, pre-hospital care settings, and others. Hospitals contributes the highest share of the defibrillators market and is projected to hold 56.3% of the market share in 2024. Hospitals account for the largest share of the global defibrillators market owing to the high volume of defibrillator procedures performed in hospitals settings. A defibrillator is an integral part of emergency response technology in modern hospitals for managing life-threatening cardiac conditions like ventricular fibrillation and pulseless ventricular tachycardia.
According to Centers for Disease Control and Prevention, the national public health agency of the U.S., as many as 356,000 Americans may experience sudden cardiac arrest each year, and hospitals treat a bulk of these cases. The emergency nature and acute management of cardiac emergencies demand quick accessibility to defibrillators within the hospital infrastructure. Defibrillators are regularly used in intensive care units, cardiac catheterization labs, cardiac surgery suites, and emergency rooms where the monitoring and treatment of arrhythmias is frequently needed. Rising healthcare spending on quality of care and new hospital infrastructure development in developing countries is also driving the hospitals segment growth. Stringent guidelines regarding defibrillator availability in all hospital departments and areas further boost hospital procurement.
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North America has been the largest and most dominant regional market for defibrillators globally and is anticipated to hold 42.9% of the market share in 2024. The region enjoys a strong presence of major industry players with huge investments in R&D and manufacturing facilities. Most of the world's top defibrillator companies such as Medtronic, Boston Scientific, and Abbott Laboratories are headquartered in the U.S., giving them a major competitive advantage. With an advanced healthcare infrastructure and higher healthcare spending, there is considerable demand for premium and technologically-advanced defibrillator devices in the region. The costs of devices in North America are also generally higher compared to other regions due to strong Intellectual property (IP) protection and brand premiumization strategies of players.
The Asia Pacific region, especially China and India, has emerged as the fastest growing regional market for defibrillators in recent years. Rising medical needs due to large populations and improving economic conditions are driving heavier investments in healthcare infrastructure and services across developing nations. This has boosted the demand for defibrillators across hospitals, public access points, and community centers. At the same time, the region is witnessing steady growth in medical device manufacturing with emerging multinational players setting up production bases to cater to the local and export markets. The low production costs have made Asia Pacific an attractive sourcing destination for defibrillator devices globally and boosted its exports. However, due to minimal IP protection and price sensitive end users in some nations, the average selling prices of devices is relatively lower compared to developed markets.
Defibrillators Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 12.70 Bn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 6.8% | 2031 Value Projection: | US$ 20.10 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Koninklijke Philips N.V., Metrax GmbH, Medtronic, Mindray Medical International Limited, Boston Scientific Corporation, GE Healthcare, Nihon Kohden, Abbott, BIOTRONIK, Stryker, LivaNova PLC, Asahi Kasei Corporation, MicroPort Scientific Corporation, Schiller AG, Bexen Cardio |
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| Restraints & Challenges: |
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*Definition:The defibrillators market involves the various tools, equipment, media, and reagents used to propagate and grow eukaryotic and prokaryotic cells outside of their natural environment. Cells are maintained and grown in carefully controlled sterile laboratory conditions for scientific research, biomanufacturing of biologics and vaccines, toxicology testing, and clinical cell therapy applications. Key products in this multibillion-dollar market include defibrillators media, sera, reagents, bioreactors, incubators, centrifuges, and microscopes.
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About Author
Komal Dighe is a Management Consultant with over 8 years of experience in market research and consulting. She excels in managing and delivering high-quality insights and solutions in Health-tech Consulting reports. Her expertise encompasses conducting both primary and secondary research, effectively addressing client requirements, and excelling in market estimation and forecast. Her comprehensive approach ensures that clients receive thorough and accurate analyses, enabling them to make informed decisions and capitalize on market opportunities.
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