Defibrillators Market Size Worth $20.6 Billion by 2030 | CAGR: 7.0%: Grand View Research, Inc.

SAN FRANCISCO, Feb. 15, 2022 /PRNewswire/ -- The global defibrillator market size is expected to reach USD 20.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.0% from 2022 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.

Key Insights & Findings from the report:

• North America held the largest revenue share in 2021 due to the advanced healthcare infrastructure, supportive policies driving adoption of public access AEDs, and deeper penetration of the technologically advanced devices.
• Asia Pacific is anticipated to register the highest CAGR of 7.9% over the forecast period owing to the high prevalence of cardiovascular diseases in China and India and increasing healthcare expenditure.
• The industry participants are focusing on investing in acquisitions, collaborations, product launches, and partnerships to gain a competitive edge in the market.
• Some 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 growth.
• Europe held a significant revenue share in 2021 owing to initiatives by key companies and well-established healthcare infrastructure.
• For 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 Europe.

Read 150-page market research report, "Defibrillator Market Size, Share & Trends Analysis Report By Product (ICDs, External Defibrillators), By End Use (Hospital, Pre Hospital, Public Access Market, Alternate Care Market, Home Healthcare), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Defibrillators Market Growth & Trends

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.

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.

Major market players are focused on launching technologically advanced products and collaborations to enhance their presence. For instance, in July 2020, Zoll Medical Corporation launched a new remote view technology feature on its X Series monitor/defibrillator. This enhanced the existing product portfolio. In 2020, the European Emergency Number Association (EENA) launched a project in collaboration with Everdrone and Schiller to understand and explore the possibilities of using Unmanned Aerial Vehicles (UAVs) for emergency medical deliveries. The AEDs used were provided by Schiller, thus strengthening the company's market presence.

Defibrillators Market Segmentation

Grand View Research has segmented the global defibrillators market on the basis of product, end use, and region:

Defibrillators Product Outlook (Revenue, USD Million, 2017 - 2030)

• Implantable Cardioverter Defibrillators (ICD)
• S-ICD
• T-ICD
• Single Chamber
• Dual Chamber
• CRT-D
• External Defibrillators (ED)
• Manual ED
• Automated ED
• Wearable Cardioverter Defibrillators

Defibrillators End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Hospital
• Pre Hospital
• Public Access Market
• Alternate Care Market
• Home Healthcare

Defibrillators Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• MEA
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Defibrillators Market

• Medtronic
• Abbott
• Boston Scientific Corporation
• BIOTRONIK SE & Co. KG
• MicroPort Scientific Corporation
• Koninklijke Philips N.V.
• Stryker
• ZOLL Medical Corporation (Asahi Kasei)
• Nihon Kohden Corporation
• Schiller AG

Check out more related studies published by Grand View Research:

• External Defibrillators Market - The global external defibrillators market size is anticipated to reach USD 6.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a notable CAGR of 9.3% from 2022 to 2030. The key factors driving the market growth include rising technological advancements, initiatives for promoting public access AEDs, and the incidence of sudden cardiac arrest. The COVID-19 pandemic increased awareness about defibrillation training and the use of external defibrillators in case of an adverse cardiac event, thus increasing demand for defibrillators.
• Pacemakers Market - The global pacemakers market size is anticipated to reach USD 5.94 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 3.4% from 2022 to 2030. This growth is owing to various factors such as technological advancements and the increasing prevalence of cardiovascular devices. Furthermore, the growing sedentary lifestyle coupled with the rising geriatric population is also anticipated to fuel the market growth during the projected period.
• Pneumatic Nebulizers Market - The global pneumatic nebulizers market size is anticipated to reach USD 1.02 billion by 2028, registering a CAGR of 6.0% over the forecast period, according to a new report by Grand View Research, Inc. The market has shown constant growth in the adoption of pneumatic nebulizers as home healthcare devices have been gaining popularity in recent years. Miniaturization of products and technological advancements are also boosting the adoption of home healthcare devices.

Browse through Grand View Research's coverage of the Medical Devices Industry

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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