The global defibrillators market is anticipated to grow at a significant CAGR of 6.9% during the forecast period. The major factors contributing to the market growth include a significant prevalence of CVDs that encourage companies to develop technologically advanced products for the treatment of patients. Patients with cardiac arrest require a device or machinery, which aids to treat arrhythmic heart rhythm. The defibrillator delivers a dose of electric current to the heart. Thus, the rising prevalence of CVDs is the major factor propelling the growth of the global defibrillator market. Annually, around 300,000 out-of-hospital cardiac arrests occur in the US. During the forecast period, supportive government policies in developed nations may assist expand the availability and accessibility of defibrillators, boosting the market growth.

Defibrillator market growth can be due to factors such as technological improvements in the field of defibrillators and defibrillator training and awareness initiatives. Abbott Laboratories just got a CE mark for their product "Gallant" in 2020. It's an ICD (implantable cardioverter-defibrillator) that prevents sudden cardiac arrest. However, some factors are hindering the growth of the market which include the preference for drugs over defibrillators and stringent government regulations for approval of medical devices.

Impact of COVID-19 Pandemic on Global Defibrillators Market

In 2020, the COVID-19 pandemic hurt the economy and posed numerous obstacles to clinical healthcare practitioners and patients all across the world. Logistical concerns, disease management, prioritizing patients with comorbidities and pre-existing disorders, and further protecting the public and hospital frontline staff from COVID-19 are all key challenges that healthcare systems around the world are dealing with. The pandemic has also impacted hospitals' purchasing power, particularly small-scale hospitals, resulting in supply deals being canceled or postponed, reducing overall revenue for all major players in the defibrillator market. The cardiac rhythm management segment of Boston Scientific Corp., which includes defibrillators and other cardiovascular devices, accounted for a 12.12% drop during the pandemic. Many COVID patients had arrhythmias, but in-hospital defibrillator facilities saved their lives. Many surgical procedures were canceled or postponed as a result of the viral outbreak, depending on the patient's criticality. 

Segmental Outlook 

The global defibrillators market is segmented based on type and end-users. Based on type, the market is bifurcated into implantable cardioverter defibrillators and external cardioverter defibrillators. Implantable cardioverter-defibrillators are expected to have a prominent share in the global market owing to the development of technologically advanced devices with extended longevity. Further, increasing implantable procedures adoption of cardiac resynchronization therapy defibrillators across the globe are contributing to the segmental growth of the market. Based on end-user, the market is classified into hospitals, and ambulatory surgical centers & others.

Global Defibrillators Market Share by End-User, 2021 (%)

The Hospital Sub-Segment is Anticipated to Hold a Prominent Share in the Global Defibrillators Market

The hospital segment is anticipated to hold a prominent share in the market during the forecast period. In the US, Cleveland Clinic, Mayo Clinic, New York-Presbyterian University Hospital of Columbia, and Cornell are some of the key hospitals using defibrillators for the treatment of their cardiac patients.  According to the Sudden Cardiac Arrest Foundation, each year, over 350,000 emergency medical services-assessed out-of-hospital cardiac arrests (OHCA) occur in the US. CARES, a non-profit organization, designed to help emergency medical services (EMS) agencies, evaluates and improves their performance in cardiac arrest response, and monitors and reports data on patients who received EMS treatment (CPR and/or defibrillation). Moreover, the increasing number of multi-specialty hospitals in developed and developing countries is further strengthening the demand for defibrillators in hospitals. 

Regional Outlooks

The global defibrillators market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. Among these, the Asia Pacific regional market is expected to cater to considerable growth during the forecast period. Significant rise in the prevalence of CVD, improving healthcare infrastructure and government efforts for the prevention and treatment of non-communicable diseases are some of the major factors boosting the growth of the market in the region. Major economies contributing to the regional growth of the market include China, Japan, and India.

Global Defibrillators Market Growth, by Region 2022-2028

The North American Region is Expected to Hold a Prominent Share in the Global Defibrillators Market

The North American region is expected to hold a prominent share in the global defibrillators market due to the public access to defibrillation (PAD) programs in the US which are intended to improve OHCA survival. Furthermore, a significant prevalence of CVD, a well-developed healthcare infrastructure, and considerable awareness among people of CVD are supporting to drive the growth of the market. The American Heart Association (AHA) has promoted structured PAD to allow nonmedical and untrained bystanders to use automated external defibrillators (AEDs) to increase the survival rate. Many organizations provide internet-accessible comparisons of state PAD laws. The PAD laws have improved the application of AED. In addition, the presence of major players in the region is encouraging market growth in North America. 

Market Players Outlook

The major companies serving the global defibrillators market include Medtronic PLC, Boston Scientific Corp., Koninklijke Philips N.V., and Abbott Laboratories, Inc., among others. Market players are constantly focusing on gaining major market share by adopting strategies such as mergers and acquisitions, product launches, partnerships, and collaboration. For instance, in September 2021, Cardio Partner, Inc., a company of Sranova acquired Allied 100, LLC, which is a countrywide distributor of automated external defibrillators (AEDs) and related accessories.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global defibrillators market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.