by The global defibrillator market size was valued at USD 10.35 billion in 2020, and is predicted to be worth around USD 20.8 billion by 2030, registering a CAGR of 7.5% during the forecast period 2022 to 2030.
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Defibrillator Market Growth Factors
The key drivers for this market include supportive regulatory policies, rising incidences of sudden cardiac arrests, product developments, and rising awareness regarding cardiac conditions. The COVID-19 pandemic, however, gave rise to several challenges such as dampened demand for ICDs, logistical bottlenecks, postponed elective surgeries across the globe, and reduced sales growth.
The demand for ICDs plunged during 2020 as governments in many key markets implemented movement restrictions and hospitals deferred elective procedures. The sales recovered gradually as movement restrictions were eased and elective procedure volume went up. For instance, Abbott reported a decline in demand and sales of its cardiovascular and neuromodulation portfolio in 2020. Abbott attributed the sales decrease to reduced procedure volumes resulting from the pandemic.
Defibrillator Market Report Coverage
| Report Scope | Details |
| Market Size | US$ 20.8 billion by 2030 |
| Growth Rate | CAGR of 7.5% From 2022 to 2030 |
| Largest Market | North America |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Product, End use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Medtronic; Abbott; Boston Scientific Corporation; BIOTRONIK SE & Co. KG; MicroPort Scientific Corporation; Koninklijke Philips N.V.; Stryker; ZOLL Medical Corporation (Asahi Kasei); Nihon Kohden Corporation; Schiller AG |
By End-use Analysis
Hospitals held the largest revenue share of over 80.0% in 2021. This is owing to the higher number of cardiac patients received in hospitals and surgeries performed in hospital settings.
The public access market segment is anticipated to register the fastest growth rate of 9.6% over the forecast period due to the rising initiatives to increase the availability of public access AEDs, train personnel, and improve response to sudden cardiac arrest events.
By Product Analysis
Implantable cardioverter defibrillators (ICDs) dominated the market with a share of over 70.0% in 2021. The key factors driving this segment include the growing adoption of these devices due to the high prevalence of cardiovascular diseases, the high geriatric population in key markets, and growing product improvements by major companies.
The external defibrillators segment is anticipated to register the fastest growth rate of 9.3% over the forecast period. This is due to technological advancements and initiatives promoting access to AEDs in public places. A bill to enhance availability and access to AEDs (Public Access) in the U.K. is in the pipeline.
By Regional Analysis
North America held the largest revenue share of more than 35.0% in 2021. The growth of the North American market can be attributed to the initiatives by key players, favorable regulations, and technologically advanced healthcare facilities in the U.S. and Canada.
Asia Pacific is projected to expand at the fastest CAGR of 7.9% over the forecast period. This is owing to developing healthcare infrastructure, high patient population, and prevalence of cardiac diseases.
Key Players
- Medtronic
- Abbott
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
- MicroPort Scientific Corporation
- Koninklijke Philips N.V.
- Stryker
- ZOLL Medical Corporation (Asahi Kasei)
- Nihon Kohden Corporation
- Schiller AG
Market Segmentation
- By Product
- Implantable Cardioverter Defibrillators (ICD)
- Single Chamber
- Dual Chamber
- CRT-D
- S-ICD
- T-ICD
- External Defibrillators (ED)
- Manual ED
- Automated ED
- Wearable Cardioverter Defibrillators
- Implantable Cardioverter Defibrillators (ICD)
- By End-use
- Hospital
- Pre Hospital
- Public Access Market
- Alternate Care Market
- Home Healthcare
- Regional
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- MEA
- South Africa
- Saudi Arabia
- UAE
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2019-2021) and forecast (2022-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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