Defibrillators Market, By Product Type (Implantable Cardioverter Defibrillators, External Defibrillators), By End User (Hospitals, Homecare Settings, Public Access Settings, Pre-hospital Care Settings, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Mar 2024

Code : CMI115

Pages :180

Formats :

Excel and PDF

Industry : Medical Devices

Defibrillators Market Size and Trends

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.

Defibrillators Market Key Factors

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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.

/p>Increasing technological advancements in defibrillators

Defibrillators 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.