Global Defibrillator Market Report and Forecast 2024-2032

Defibrillator Market Size

The global defibrillator market was valued at USD 9.5 billion in 2023, driven by the increasing cases of cardiovascular diseases and advancements in defibrillator technology across the globe. The market is expected to grow at a CAGR of 5.12% during the forecast period of 2024-2032, with the values likely to reach USD 14.9 billion by 2032.

Defibrillator Market Outlook

• The increasing cases of cardiovascular diseases, including heart attacks and arrhythmias, are significantly contributing to the market demand.

• One of the major market trends is the rising regulatory support and policies that ensure the swift approval and adoption of new defibrillation technologies.

• The market value is influenced by the increased investment in research activities aimed at advancing defibrillation technologies and the robust efforts to place automated external defibrillators in public spaces.

Defibrillator Market Overview

A defibrillator is a life-saving medical device that can be used to administer a dose of electric current to the heart. Defibrillation treatment is given for life-threatening cardiac arrhythmias to restore a normal heartbeat. Immediate defibrillation can increase the chances of survival of a patient undergoing sudden cardiac arrest. The increasing focus on improving public access to portable automated external defibrillators (AEDs) is likely to fuel the market demand. The high prevalence of cardiovascular diseases and the increasing aging population are resulting in the wider adoption of advanced defibrillators in hospitals, clinics, and public places. Several factors such as supportive regulatory policies, rising healthcare expenditures, and the increasing advancements in defibrillator technology are poised to shape the market landscape.

Defibrillator Market Growth Drivers

Increasing Prevalence of Cardiovascular Diseases to Affect the Market Landscape Significantly

Recent data indicates that cardiovascular disease is the leading cause of death for both men and women worldwide. Out of the overall population of 8 billion in 2023, nearly 620 million individuals are affected by health and circulatory disease which accounts for 1 in 13 individuals living with a heart or circulatory condition globally. The rising burden of cardiovascular diseases, including heart attacks and arrhythmias is a major growth driver of the market. Further, the rising aging population more prone to developing the condition is poised to fuel market demand in the coming years.

Rise in FDA Approvals Poised to Fuel Defibrillator Market Demand

In October 2023, Medtronic announced that the United States Food and Drug Administration (FDA) granted approval to its extravascular defibrillator Aurora EV-ICD™ system for treating abnormal heart rhythms and preventing sudden cardiac arrest. In contrast to conventional implantable cardioverter defibrillators, the placement of leads in Aurora EV-ICD happens outside the heart rather than inside the heart and veins. This less-invasive device reduces the risk of complications such as fractures and insulation failure and is the first defibrillation system that can manage dangerously fast heart rhythms with the lead placement under the breastbone. The rise in regulatory approvals of such safe and effective implantable cardioverter defibrillator (ICD) technology is likely to bolster the market growth.

Defibrillator Market Trends

The market is witnessing several trends and developments to improve the current global scenario. Some of the notable trends are as follows:

Rising Focus on Portable and User-Friendly Devices

The market is witnessing an increased demand for portable automated external defibrillators (AEDs) which can be attributed to their ease of use and effectiveness in emergency situations. These user-friendly can be handled by non-medical personnel to administer life-saving shocks during emergencies.

Technological Advancements

Many device manufacturing companies are integrating artificial intelligence (AI) technologies into defibrillators to make them more efficient and user-friendly. Moreover, there is a growing adoption of advanced wearable cardioverter defibrillators (WCDs), which provide continuous monitoring and immediate response to cardiac events.

Growth in Funding and Grants

The defibrillator market value is influenced by the increased funding and grants for the placement of automated external defibrillators in public places by both the government and private organizations. Further, increased investment in research activities aimed at advancing defibrillation technologies are poised to support market growth.

Increased Public Access Initiatives

One of the major trends is the increased public access initiatives to place automated external defibrillators in public spaces such as airports, schools, shopping malls, and others. The rising availability of these devices ensures that immediate response can be given to the patient in case of cardiac emergencies.

Defibrillator Market Segmentation

Market Breakup by Product

• Implantable Cardioverter Defibrillator

• Subcutaneous ICD

• External Defibrillator

Market Breakup by Patient

• Adult

• Pediatric

Market Breakup by End User

• Hospitals

• Specialty Clinics

• Home Care Settings

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Defibrillator Market Share

Market Segmentation Based on Products is Anticipated to Witness Substantial Growth

Based on the product, the market is segmented into implantable cardioverter defibrillators, subcutaneous ICDs, and external defibrillators. The implantable cardioverter defibrillator (ICD) segment covers a considerable market share due to its proven efficacy in preventing sudden cardiac death. The increasing awareness about the need for early intervention for cardiac issues and the growing aging population prone to heart complications are some of the factors propelling the demand for implantable cardioverter defibrillators. The subcutaneous implantable cardioverter defibrillator segment is also expected to grow in the forecast period, owing to its minimally invasive nature and no intravenous lead placement, thereby reducing the risk of infections.

Global Defibrillator Market Analysis by Region

Based on the region, North America holds the largest market share for defibrillators driven by the high incidence of cardiovascular diseases, heightened awareness regarding cardiac health, and the presence of a well-established healthcare infrastructure. Moreover, the supportive regulatory policies in North American countries like the United States and Canada ensure the swift approval and adoption of new defibrillation technologies.

Asia Pacific is projected to hold a substantial defibrillator market value, which can be attributed to increased government initiatives aimed at improving healthcare infrastructure and access to advanced medical devices. With heart issues becoming common, particularly in countries such as China, India, and Japan, the market demand for defibrillators is set to surge in the region in the forecast period.

Leading Players in the Global Defibrillator Market

The key features of the market report comprise the patent analysis, grant analysis, funding and investment analysis, and strategic initiatives by the leading key players. The major companies in the market are as follows:

Medtronic PLC

Headquartered in Dublin, Ireland, this global healthcare technology company is one of the leading players in the market. Medtronic is known for its advanced implantable cardioverter defibrillators (ICDs) and external defibrillators and often engages in strategic acquisitions and partnerships to strengthen its market position.

Stryker Corporation

Based in Michigan, United States, Stryker Corporation is a multinational medical technologies company that is recognized for its robust distribution network. The company invests heavily in R&D to improve the functionality of defibrillators and enhance the accessibility of these life-saving devices.

Koninklijke Philips N.V.

Multinational conglomerate corporation Koninklijke Philips N.V., headquartered in Amsterdam, Netherlands, manufactures medical systems including defibrillation devices. Philips automated external defibrillator (AED) and Philips HeartStart AEDs are some of the popular products in the market.

Other key players in the market include Boston Scientific Corporation, Nihon Kohden Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Biotronik Medical Devices India Pvt. Ltd., MicroPort Scientific Corporation, and Schiller Healthcare India Pvt., among others.

Key Highlights of the Report

Key Questions Answered in the Defibrillator Market Report

• What was the global defibrillator market value in 2023?
• What is the global defibrillator market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is market segmentation based on product?
• What is the market breakup based on patient?
• Who are the major end users in the market?
• What are the major factors aiding the global defibrillator market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• How do the prevalence and incidence of cardiovascular diseases affect the market landscape?
• What are the major global defibrillator market trends?
• How does the rise in the geriatric population impact the market size?
• Which product will dominate the market share? 
• Which patient type is expected to have a high market value in the coming years?
• Which end user is projected to contribute to the highest market growth?
• Who are the key players involved in the defibrillator market?
• What is the patent landscape of the market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers and acquisitions among the key market players shaping the market dynamics?