The global defibrillator market size is expected to reach USD 12.57 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 8.1% from 2024 to 2030. 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.
Gather more insights about the market drivers, restrains and growth of the Global Defibrillators Market
The rising demand to develop solutions to improve sudden cardiac arrests response and the need to improve patient outcomes is expected to drive innovation in implantable as well as external defibrillators product segments. Innovation in the implantable defibrillators segments is driven by product advancements in subcutaneous and transvenous devices to increase device safety and efficacy. Integration of digital technologies such as analytics and tracking software is expected to drive the development in the external defibrillators segments. Other emerging technological trends include developments in personal AEDs for use in home settings, improvements in tracking technology for AEDs, the use of drones to deliver devices to care sites, and the use of IoT.
Defibrillators Market Report Highlights
North America held the largest revenue share in 2023 due to the advanced healthcare infrastructure, supportive policies driving adoption of public access AEDs, and deeper penetration of the technologically advanced devicesAsia Pacific is anticipated to register the highest CAGR of 9.3% over the forecast period owing to the high prevalence of cardiovascular diseases in China and India and increasing healthcare expenditureThe industry participants are focusing on investing in acquisitions, collaborations, product launches, and partnerships to gain a competitive edge in the marketSome of the leading players in the market are headquartered in Asia such as Asahi Kasei, Nihon Kohden, and Microport, thus contributing to the regional market growthEurope held a significant revenue share in 2023 owing to initiatives by key companies and well-established healthcare infrastructureFor instance, in January 2020, Medtronic received the CE mark for its Cobalt and Crome lineup of defibrillators. This extended the company’s cardiac solutions offerings and enabled it to commercialize the products across EuropeBrowse through Grand View Research's Medical Devices Industry Research Reports.
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Grand View Research has segmented the global defibrillators market on the basis of product, end-use, and region:
Defibrillators Product Outlook (Revenue, USD Million, 2018 - 2030)
Implantable Cardioverter Defibrillators (ICD)S-ICDT-ICDSingle ChamberDual ChamberCRT-DExternal Defibrillators (ED)Manual EDAutomated EDWearable Cardioverter DefibrillatorsDefibrillators End-use Outlook (Revenue, USD Million, 2018 - 2030)
HospitalPre-hospitalPublic Access MarketAlternate Care MarketHome HealthcareDefibrillators Regional Outlook (Revenue, USD Million, 2018 - 2030)
North AmericaS.CanadaEuropeGermanyUKFranceItalySpainDenmarkSwedenNorwayAsia PacificChinaIndiaJapanAustraliaSouth KoreaThailandLatin AmericaBrazilMexicoArgentinaMEASouth AfricaSaudi ArabiaUAEKuwaitOrder a free sample PDF of the Defibrillators Market Intelligence Study, published by Grand View Research.
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