Defibrillators Market - By Product (Implantable Cardioverter Defibrillator (ICDs), External Cardioverter Defibrillator, Wearable External Cardioverter Defibrillator), End-use (Hospitals, Clinics, Cardiac Catheterization Labs) & Global Forecast, 2023-2032

Defibrillators Market Size

Defibrillators Market size exceeded USD 11 billion in 2022. The industry is estimated to expand at over 6.5% CAGR from 2023 to 2032, driven by surging incidences of sudden cardiac arrests and heart failures.
 

The industry demand is primarily fueled by the mounting prevalence of cardiac diseases. One of the main risk factors for illness progression and high mortality rates is tachycardia. The rising occurrence and prevalence of these disorders and their subsets, including atrial fibrillation, ventricular tachycardia, supraventricular tachycardia (SVT), and ventricular fibrillation, are anticipated to drive business growth.
 

High cost of the devices may impede industry progression

The expensive initial costs of defibrillators are one of the major factors that may restrain the development of the defibrillators market. Even with the escalating number of patients with cardiac disorders, the high prices of defibrillators and wearable cardioverter defibrillators may hamper their adoption, especially among people who are under lower socioeconomic levels and in low-income nations. ICDs are among the most expensive medical equipment, with procurement costs ranging from USD 18,000 to USD 35,000 for ICDs with biventricular pacing capability in the U.S. Nonetheless, supportive awareness initiatives and government support in terms of subsidy programs & reimbursement provisions are likely to proliferate product adoption in the coming years.
 

Wide product range availability to help implantable cardioverter defibrillators (ICD) gain traction

In 2022, the implantable cardioverter defibrillator (ICD) segment held more than 71% share in the defibrillators market as a result of the broad variety of product diversity, expanded application possibilities, and technical breakthroughs. A 2022 study on ICD’s long-term results found that very few patients underwent S-ICD replacement, indicating future self-terminating shock events pacing indications. These defibrillators can now indicate backup pacing and emergency defibrillation in line with the surging demand for pacing's enhanced benefits.
 

Defibrillators Market Analysis

Defibrillators market from hospitals end-use segment is projected to witness growth at more than 7% CAGR over 2023-2032. The high availability of novel devices that offer advanced therapeutic outcomes and provide convenient post-surgical care among patients with cardiac diseases is expected to elevate the preference for hospitals. Other factors that are primed to drive segment expansion include the increasing cases of cardiac arrest, the surge in the need for ICD implantation procedures, and the accessibility of highly skilled healthcare personnel. According to the Department of Health & Human Services, the U.S. recorded nearly 80% of hospital bed utilization in January 2022.
 

Europe defibrillators market is foreseen to reach a valuation of over USD 6 billion by the end of 2032. The rising occurrence of tachycardia due to hypertension, obesity, and dyslipidemia among the elderly population is slated to escalate the demand for defibrillators. In addition, supportive government spending is set to further accelerate business growth in the region. In December 2022, the Department of Health and Social Care under the UK Government announced intentions on investing £1 million (around USD 1.2 million) in automated external defibrillators (AEDs) to provide access to defibrillators in areas that are most in need.
 

Defibrillators Market Share

• Abbott Laboratories, Inc.
• BIOTRONIK SE & Co. KG
• AMI Italia
• Boston Scientific Corporation
• Koninklijke Philips N.V.
• CU Medical Systems Co. Ltd
• Stryker Corporation
• Medtronic plc
• MicroPort Scientific Corporation
• Meditech Equipment Co., Ltd (Meditech Group)
• Mindray Medical International Limited
• BPL Medical Technologies Pvt Ltd
• Nihon Kohden Corporation
• Schiller AG
• and ZOLL Medical Corporation (Asahi Kasei Group)

are some of the key participants involved in the defibrillators market.
 

These firms primarily engage in rigorous R&D initiatives and efforts to enhance their market standing. For instance, in January 2023, Mindray Medical International Limited, a medical device firm, received CE mark for its defibrillation product family under the EU’s new Medical Device Regulation. With this the company became the first manufacturer to win MDR accreditation, paving its way for remarkable business opportunities.
 

Impact of COVID-19 Pandemic

The COVID-19 outbreak had a massive impact on public health and led to a drastic rise in hospitalizations. The coronavirus proliferated the disease burden and negatively influenced the healthcare sector over 2020 and the initial phase of 2021. Many medical facilities delayed and postponed non-emergency surgical procedures resulting in pending cardiovascular surgeries & implantation procedures. These challenges slackened the defibrillators industry statistics.

Defibrillators Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:

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By Product Implantable Cardioverter Defibrillator (ICD)

• Subcutaneous Implantable Cardioverter Defibrillator
• Transvenous Implantable Cardioverter Defibrillator
  • Single-chamber ICDs
  • Dual-chamber ICDs

• External Defibrillator
  • Manual ED
  • Automated ED
    • Semi-automated External Defibrillator
    • Fully Automated External Defibrillator
  • Wearable Cardioverter Defibrillator

By End-use

• Hospitals

• Ambulatory Surgical Centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • The Netherlands
  • Sweden
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
  • Malaysia
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Colombia
  • Peru
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Iran
  • Turkey