Defibrillators Market Industry Statistics and Growth Trends Analysis Forecast 2023

Defibrillators Market Outlook

Defibrillators are devices that send an electric pulse to the heart in order to normalize irregular heartbeats. The main purpose of them is to stop arrhythmia, which results in an irregular heartbeat. External and implanted defibrillators are the most often used types. The dynamics of this market are being favourably influenced by the rising prevalence of cardiac illnesses, rising healthcare costs, and rapidly advancing technical innovations. The aging population, the growing need for high-quality healthcare, and the proliferation of defibrillator awareness campaigns are also driving industry awareness.

The global defibrillators market was worth USD 11,400 million in 2022 and is poised to reach a valuation of USD 26,230 million by 2033, registering a CAGR of 9.7% over the forecast period of 2023-2033.

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The Growing Demand for Defibrillators:

Increasing incidence of cardiac-related conditions and sudden cardiac arrests (SCAs) are the main factors propelling the defibrillator market's expansion. Since heart-related illnesses claim millions of lives every year, prompt defibrillation is essential to raising survival rates.

Types of Defibrillators:

Automated External Defibrillators (AEDs): AEDs are simple, easy-to-use devices that have become more and more popular. They are frequently located in public areas, enabling onlookers to help save lives in an emergency.

Implantable Cardioverter Defibrillators (ICDs): ICDs are inserted beneath the skin and continuously check the heart's rhythm. When necessary, they shock with electricity to get heartbeats back to normal.

Wearable Cardioverter Defibrillators (WCDs): Wearable cardiac devices, or WCDs, are non-invasive medical equipment. Patients who are at a high risk of experiencing a sudden cardiac arrest are usually prescribed them.

Competitive Analysis

Abbott
Boston Scientific Corporation
BIOTRONIK SE & Co. KG
MicroPort Scientific Corporation
Koninklijke Philips N.V.
Stryker Corporation
ZOLL Medical Corporation (Asahi Kasei)
Nihon Kohden Corporation
Schiller AG
Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
LivaNova PLC
Medtronic Inc

Global Defibrillators Market- Segmental Analysis

By Product:

Implantable Defibrillators

Transvenous Implantable Cardioverter Defibrillator (T-ICDs)
Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs)
Cardiac Resynchronization Therapy- Defibrillator (CRT-D)

External Defibrillators

Manual External Defibrillator
Automated External Defibrillator (AEDs)
Wearable Cardioverter Defibrillator (WCDs)

By Patient Type:

Adult
Pediatrics

By End User:

Hospitals
Clinics and Cardiac centers
Pre-hospital care settings
Public access markets
Home care settings
Alternate care facilities

Global Defibrillators Market: Key Trends

Rising Prevalence Of Cardiac Disorders To Aid Market Expansion:

There has been a steep rise in the pervasiveness of cardiac ailments. This is powered by factors such as unhealthy eating habits, sedentary lifestyle, hectic work schedule, weight issues, and many more. Sudden heart attacks and instances of arrhythmia has become quite common in today era. This is turn is escalating the demand for defibrillators across the globe.

Emergence Of The COVID-19 Outbreak To Augment Industry Outlook:

The sudden outbreak of the COVID-19 pandemic had a positive influence on the trends of this market place. With rising infection rates, government across the globe shifted their focus towards the enhancement of healthcare infrastructure. Moreover, people having cardiac issues were at high risks since coronavirus is known to harshly affect the lungs and heart. This led to prompt surge in the occurrences of COVID-19 induced heart attacks, necessitating the use of defibrillators across the globe.

Global Defibrillators Market: Geographical Ambit

The major regions constituting the geographical terrain of this industry sphere are North America, Middle East & Africa, Europe, Latin America, and Asia Pacific. Among these, Asia Pacific is poised to record exponential growth. This is credited to the growing incidences of cardiovascular disorders, developments in healthcare infrastructure, and rise in geriatric population.

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