Defibrillators Market to Reach Valuation of USD 18.8 Billion by 2028 - the Training and Awareness Programs on Defibrillators, Increasing Occurrences of Target Diseases and the Growing Focus on Providing Public-Access Defibrillators is Driving the Market Growth

Vantage Market Research

May 04, 2022

In terms of revenue, the Global Defibrillators Market is probable to reach USD 18.8 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 9.2% from 2022 to 2028.

The increasing focus of public and private organizations towards the Public Access Defibrillator (PAD) is fueling the growth of the Defibrillators Market during the forecast period. Furthermore, the 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.

Key Highlights from the Report:

  • The implantable cardioverter-defibrillator sub-segment is anticipated to grow at a substantial Compound Annual Growth Rate (CAGR). The largest share of the implantable segment can be attributed to the rising prevalence of cardiovascular diseases and the technologically innovative Defibrillators.
  • The adult patient sub-segment holds a substantial market share in 2021. 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 in the Defibrillators Market growth during the forecast period.
  • Asia Pacific is the fastest regional segment. The fastest 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.

Market Dynamics:

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 defibrillator (WCDs), automated external defibrillator (AEDs), and manual external Defibrillators.

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 Defibrillators Market growth during the forecast period. The increase in the availability and attention to 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.

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