Defibrillators Market : Emerging Market Trends, Opportunities and Business Insights

[Healthcare News]

A defibrillator is a device that monitors the heart rhythm and delivers electric shocks upon detecting an abnormal heart rhythm to restore the normal heart rhythm. The device plays an important role in the management and treatment of sudden cardiac arrest. Defibrillators Market growth is mainly driven by the rising prevalence of target diseases, growing focus on providing public-access defibrillators, and training and awareness programs on defibrillators.

The global defibrillator market is expected to reach USD 18.2 billion by 2026 from an estimated USD 11.4 billion in 2021, at a CAGR of 9.7% from 2021 to 2026.

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The market is segmented by Product Type (Implantable Cardioverter Defibrillator and External Defibrillator), Patient Type (Adult, Pediatric), End Users, and Region(North America, Europe, APAC, Latin America & MEA) & Region

• Based on type, the defibrillators market is broadly segmented into implantable cardioverter defibrillators (ICDs) and external defibrillators. Implantable cardioverter defibrillators (ICDs) are small battery-powered, programmed electronic devices used to monitor and correct abnormal heart rhythms. These devices are placed in the chest or abdomen of a patient with thin wires of ICD connected to the heart, which delivers electric shocks to restore the normal heart rhythm when the ICD detects an abnormal heartbeat. Ventricular tachycardia and ventricular fibrillation are the two most common disorders that cause irregular heartbeats.

• Based on product type, the defibrillator market is segmented into Implantable cardioverter defibrillators (ICDs) and External defibrillators. ICDs is further divided into transvenous implantable defibrillators and subcutaneous implantable defibrillators, whereas external defibrillators is divided into manual aed, fully automated aed and wearable defibrillator.

• Based on patient type, the defibrillators market is segmented into adult and pediatric patients. The adult patients segment dominated the global defibrillators market with a share of 59.5% in 2020.

• Based on end users, the defibrillators market is segmented into hospitals, clinics, and cardiac centers; prehospital care settings; public-access markets; alternate care facilities; home care settings; and other end users. The hospitals, clinics, and cardiac centers segment dominated the global defibrillators market, with a share of 80.2%, in 2020.

The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2018–2020 to expand their global presence and increase their market shares in the defibrillator market. The key growth strategies adopted by the top players in the market include product launches & approvals, mergers & acquisitions, collaborations, partnerships, and agreements. Product approvals and launches were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market. The defibrillator market is dominated by Medtronic (Ireland), Stryker Corporation (US), Koninklijke Philips N.V. (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US), Abbott (US), Nihon Kohden (Japan), MicroPort (China).

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Medtronic is the leading player in the global implantable defibrillators market due to its extensive product portfolio. The company focuses on developing innovative products to treat and manage heart failure and heart rhythm disorders. In the past few years, the company has received approvals and launched several new products, including Cobalt and Chrome (both ICDs and CRT-Ds), which indicate the company’s strong focus on innovation. The company invests around 10% of its revenue in R&D activities to always stay ahead of its competition.

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