The Global Defibrillators Market was valued US$ 10.5 Bn in 2020 is expected to reach US$ 18.9 Bn by 2027, with a growing CAGR of 8.8% during the forecast period (2021-2027).
Defibrillator is a medical device which is used to treat heart associated diseases like cardiac arrest, ventricular fibrillation etc. This device produces electrical impulses to the heart muscles, which leads to normalize the abnormal heart rhythms. This process is called as defibrillation. With an increase in technological advances and development, different types defibrillators are introduced based on its application, namely, implantable defibrillators and external application defibrillators. Implantable defibrillators are expected to have high demand across the world.
As per National Heart, Blood and Lungs Institute-2020, more than 2 lac people die every year due to sudden cardiac arrest. To reduce this number, all states supported the use of public access defibrillators. About more that 20,000 lives were saved due to timely access of public defibrillators. State made a compulsory rule for the availability of public access defibrillator at public places, apartments and transportation center’s. This could help to reduce the number of deaths in particular region.
Bringing focus towards public access defibrillator by private and public organization boost the growth of market. Advances in technology, increasing geriatric population with high risk of diseases are some of the factors that drives the growth of defibrillators market.
Defibrillators are segmented on the basis of product type. These are categorised as implantable and external defibrillators. Further, implantable is divided into T-ICD's, C-ICD's, CRT-D; and external defibrillators are segmented into manual, automated, and wearable defibrillators. Amongst all, ICD accounted for the maximum market share in 2020. Factors such as rise in incidences of cardiac arrest and increase in adoption rate of advanced products fuels the growth of the defibrillators industry. However, external defibrillator is expected to grow during the forecast period. This segment is further classified as manual ED’s, automated ED’s and wearable ED’s. Upcoming innovations in AED and newer technologies drives the growth of the defibrillators market.
Based on end user, defibrillators market is segmented into different segments like hospital segment, pre-hospital, public access and home care. Hospital segment held maximum market share in 2020. This segment is expected to grow more during the forecast period. Hospitals are considered as primary health care place due to various facilities patient can get under single roof and presence of skilled staff. Additionally, supportive reimbursement in hospitals further decreases the cost of burden on patients.
North America is expected to increase the market share during the forecast period. Factors responsible for this growth is increase in healthcare expenditure, rise in geriatric and cardiac diseases patients, development in healthcare infrastructure followed by government support leads to increase in market share. On the other hand, Asia-Pacific is expected to grow fast with highest CAGR over the forecast period. The region includes developing economies like India and China, which has the highest percentage of population suffering from cardiac arrest.
Company Profiles and Competitive Intelligence: Key players operating in the global defibrillators industry are St. Jude Medical (US), Boston Scientific (US), Koninklijke Philips N.V. (Netherlands), Progetti Medical Equipment Solutions (Italy), BIOTRONIK (Germany), Nihon Kohden (Japan), Microport (China), Mediana (South Korea), ZOLL Medical Corporation (US), CU Medical Systems (South Korea), Medtronic (Ireland), Mindray Medical (China), Laerdal (Norway), BPL Medical Technologies (India), Physio-control (US), SCHILLER AG (Switzerland), Cardioline Spa (Italy), Heartsine Technologies (US), and Metsis Medikal (Turkey).
Drivers
Restraints
Opportunities
Challenges
Covid-19 has highly affected the healthcare industries in terms of growth, economy, health and mental wellbeing of every individual. In this challenging situation, every industry is trying to give best services in terms of quality and safety. Likewise, defibrillators industry was positively impacted by coronavirus. Defibrillators were used to treat sudden cardiac arrest in covid patients. Due to the global pandemic, restrictions on exporting and importing of raw material and medical devices were restricted. Only essential medical devices like ventilators and diagnostics production and transportation were allowed under government regulations. Supply chain was also hampered due to lockdown situation which resulted in insufficiency supply of medical devices at certain regions. Moreover, FDA proposed special guidelines for the manufacturers of medical devices. This led to affect the growth of defibrillators market.
| Sr. No. | Trends | Impact |
| 1 | Due to Covid-19, there has been decline in supply and manufacturing of medical devices | Negative |
| 2 | Entry of several market players with advanced devices | Positive |
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