Defibrillators Market

Market Snapshot

Market Synopsis:

Global Defibrillators Market valued at USD 11.1 Billion in the year 2021 and is projected to reach a value of USD 18.8 Billion by the year 2028. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 9.2% over the forecast period.

The Defibrillators Market is witnessing significant growth due to the rising occurrences of target diseases, training and awareness programs on defibrillators, and the growing focus on providing public-access defibrillators. The increasing focus of public and private organizations on the public access defibrillator (PAD) is fueling the growth of the Defibrillators market during the forecast period. Growth in the number of key market players in order to develop the latest Defibrillator devices, the increase in the incidences of cardiac diseases, and the rapidly growing geriatric population with elevated risks of the cardiac arrest are expected to further drive the growth and demand for the Defibrillators in the coming years.

Besides, the Defibrillators are skilled in performing cardioversion, defibrillation, and pacing of the heart which is responsible for the increasing demand for Defibrillators during the forecast period. Whereas, the external Defibrillators are mainly of three types, specifically wearable cardioverter Defibrillators (WCDs), automated external Defibrillators (AEDs), and manual external defibrillators. Where, AEDs are mainly used for the treatment of unexpected cardiac arrest owing to their ease of use and high efficiency, and therefore holding a large share in the global defibrillator market during the forecast period. Additionally, the growth in the adoption of technologically advanced defibrillator devices, increasing incidences of SCA, and the rising demand for quality medical care are the other major factors driving the growth of the defibrillator market during the forecast period. The increase in the availability and attention on the availability of Defibrillators in schools, offices, grocery stores, shopping malls, and airports are the factors projected to propel the growth of the Defibrillators Market in the coming future.

Market Segmentation:

The Defibrillators Market is segmented on the basis of type, patients’ type, and end-user. Based on type the market is segmented as Implantable cardioverter defibrillators, Transvenous implantable cardioverter defibrillators, Subcutaneous implantable cardioverter defibrillators, External defibrillators, Manual & semi-automated external defibrillators, fully automated external defibrillators, and Wearable cardioverter-defibrillators. Based on patient types, the market is segmented into adults and Pediatrics. Based on end-user the market is segmented as Hospitals, Clinics, Cardiac Centers, Pre-hospital care settings, public access markets, home care settings, Alternate care facilities, and other end users.

The Implantable Cardioverter-Defibrillator Segment is Expected to Hold the Largest Market Share

Based on product type, the implantable cardioverter-defibrillator segment is projected to acquire the largest share of the Defibrillators market during the forecast period. The largest share of the implantable segment can be attributed to the rising prevalence of cardiovascular diseases and the technologically innovative defibrillators.

Adult Patient Segment to Acquire the Largest Share of the Market

Based on patient type, the adult patient type is expected to acquire the largest share of the Defibrillators Market during the forecast period. The development of innovative and advanced CRT-Ds, ICDs, and AEDs with the increasing awareness among consumers about cardiac diseases and the preventive measures that are executed by the government bodies are the major factors contributing effectively to the growth of the Defibrillators Market during the forecast period.

North America Dominates the Global Defibrillators Market

North America region held the largest share of the Defibrillators Market. The largest share of the market is mainly attributed to the easy accessibility and speedy adoption of advanced technologies in North America.

Asia Pacific region is predicted to be the fastest-growing region during the forecast period. The growth of the region is driven by the rising incidences of the targeted diseases, increase in disposable income, favorable government initiatives, and the authority for the greater affordability of the advanced and innovative technologies. The emerging economies such as China, Brazil, India, and Russia are offering higher growth opportunities for the key players in the Defibrillators Market during the forecast period.

Competitive Landscape:

The Defibrillators market is fragmented in nature due to the presence of key players in the market. Some of the major key players in the market are Medtronic (Ireland), Stryker Corporation (US), Koninklijke Philips N.V. (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US), Abbott (US), Nihon Kohden (Japan), MicroPort (China), BIOTRONIK (Germany), CU Medical Systems (South Korea), METsis Medikal (Turkey), Mediana Co. Ltd. (Korea), Mindray Medical International Ltd. (China), Progetti SRL – Medical Equipment Solutions (Italy), and Schiller AG (Switzerland).BPL Medical Technologies (India), Metrax GmbH – PRIMEDIC (Germany), MS Westfalia GmbH (Germany), Bexen Cardio (Spain), Axion Medical Equipment Ltd. (Russia), Element Science Inc. (US), Avive Solutions Inc. (US), Jeevtronics Pvt. Ltd. (India), HeartHero Inc. (US), Shenzhen Comen Medical Instruments Ltd. (China).

Segmentation of Global Defibrillators Market: