The global defibrillator market size is anticipated to reach USD 18.1 billion by 2028 from USD 13.6 billion in 2023, reflecting a CAGR of 5.9% during the forecast period. Several factors, such as increased defibrillator installation in public access areas, extensive training and awareness programs, and continuous advancements in defibrillator technology, are contributing to this growth. In this article, we delve into the key drivers, major players, and their strategies in the defibrillator market.

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Factors Driving the Defibrillator Market

  1. Cardiovascular Disease Prevalence: The global rise in cardiovascular diseases is a major catalyst for the defibrillator market. An increasing number of patients are at risk of cardiac arrest, necessitating the availability of defibrillators for timely intervention.
  2. Installation in Public Places: Governments and private organizations are actively promoting the installation of defibrillators in public areas, such as airports, shopping malls, and schools. This initiative enhances the chances of rapid response during emergencies, ultimately saving lives.
  3. Training and Awareness Programs: The importance of defibrillator training and awareness cannot be overstated. As more people become educated on how to use defibrillators, they become better equipped to assist in cardiac emergencies.
  4. Technological Advancements: Ongoing developments in Subcutaneous Implantable Cardioverter Defibrillators (S-ICDs), as well as MRI-compatible ICDs & CRT-Ds, are enhancing the effectiveness and safety of defibrillators.
  5. Healthcare Infrastructure Improvements: Emerging nations are investing in improving their healthcare infrastructure, increasing the accessibility of defibrillators and ensuring better healthcare outcomes.

Major Players in the Defibrillator Market

  1. Medtronic (Ireland): Medtronic is a global leader in the implantable defibrillator market, offering an extensive product portfolio dedicated to managing heart failure and heart rhythm disorders. The company is known for its innovative product development and inorganic growth strategies. In 2023, Medtronic received the CE Mark for its implantable defibrillator systems, demonstrating its commitment to advancing the field. Furthermore, Medtronic is expanding its research and development capabilities, focusing on product development and commercialization in both mature and emerging markets.
  2. Stryker (US): Stryker is a key player in the defibrillator market, known for its comprehensive product offerings. The company excels in product launches, acquisitions, and partnerships to expand its presence. By continuously introducing new and improved defibrillator technologies, Stryker remains at the forefront of the industry.
  3. Koninklijke Philips (Netherlands): Koninklijke Philips N.V. is a prominent player in the external defibrillators market. The company prioritizes expansion through acquisitions, collaborations, agreements, and partnerships. In 2022, Philips acquired Cardiologs, a medical technology company specializing in cardiac diagnostics, and partnered with Life-Assist, Inc. and Mackenzie Health to supply and install defibrillators in public places. These strategic moves have amplified Philips’ reach and customer base in the defibrillators market.
  4. Asahi Kasei Corporation (Japan): Asahi Kasei Corporation is a significant contributor to the defibrillator market. The company emphasizes research and development to offer innovative solutions in the field of defibrillation. With a focus on technological advancements, Asahi Kasei continues to make a substantial impact in the market.
  5. Boston Scientific Corporation (US): Boston Scientific is a key player with a strong presence in the global defibrillator market. The company’s commitment to product development and partnerships enables it to meet the evolving demands of the market effectively.
  6. Abbott (US): Abbott is a major player in the defibrillator market, continuously innovating to improve patient outcomes. The company’s growth is driven by its emphasis on product development and commercialization, ensuring it maintains a competitive edge.

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The defibrillator industry is poised for substantial growth, with the potential to save countless lives. The collaboration of global players, including Medtronic, Stryker, Koninklijke Philips, Asahi Kasei Corporation, Boston Scientific Corporation, and Abbott, in developing cutting-edge technologies and expanding their reach, underscores the importance of defibrillators in healthcare. As cardiovascular diseases continue to affect individuals worldwide, the defibrillator market remains at the forefront of ensuring swift and effective intervention during cardiac emergencies. With ongoing advancements and an increased focus on training and awareness, the future of the defibrillator market looks promising.

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The global defibrillator market is experiencing remarkable growth, driven by the rising incidence of cardiac arrest among patients with cardiovascular diseases worldwide. This crucial medical equipment has become a beacon of hope, aiding in the prompt response during cardiac arrest emergencies. The market is anticipated to reach USD 18.1 billion by 2028 from USD 13.6 billion in 2023, reflecting a CAGR of 5.9% during the forecast period. Several factors, such as increased defibrillator installation in public access areas, extensive training and awareness programs, and continuous advancements in defibrillator technology, are contributing to this growth. In this article, we delve into the key drivers, major players, and their strategies in the defibrillator market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=549

Factors Driving the Defibrillator Market

  1. Cardiovascular Disease Prevalence: The global rise in cardiovascular diseases is a major catalyst for the defibrillator market. An increasing number of patients are at risk of cardiac arrest, necessitating the availability of defibrillators for timely intervention.
  2. Installation in Public Places: Governments and private organizations are actively promoting the installation of defibrillators in public areas, such as airports, shopping malls, and schools. This initiative enhances the chances of rapid response during emergencies, ultimately saving lives.
  3. Training and Awareness Programs: The importance of defibrillator training and awareness cannot be overstated. As more people become educated on how to use defibrillators, they become better equipped to assist in cardiac emergencies.
  4. Technological Advancements: Ongoing developments in Subcutaneous Implantable Cardioverter Defibrillators (S-ICDs), as well as MRI-compatible ICDs & CRT-Ds, are enhancing the effectiveness and safety of defibrillators.
  5. Healthcare Infrastructure Improvements: Emerging nations are investing in improving their healthcare infrastructure, increasing the accessibility of defibrillators and ensuring better healthcare outcomes.

Major Players in the Defibrillator Market

  1. Medtronic (Ireland): Medtronic is a global leader in the implantable defibrillator market, offering an extensive product portfolio dedicated to managing heart failure and heart rhythm disorders. The company is known for its innovative product development and inorganic growth strategies. In 2023, Medtronic received the CE Mark for its implantable defibrillator systems, demonstrating its commitment to advancing the field. Furthermore, Medtronic is expanding its research and development capabilities, focusing on product development and commercialization in both mature and emerging markets.
  2. Stryker (US): Stryker is a key player in the defibrillator market, known for its comprehensive product offerings. The company excels in product launches, acquisitions, and partnerships to expand its presence. By continuously introducing new and improved defibrillator technologies, Stryker remains at the forefront of the industry.
  3. Koninklijke Philips (Netherlands): Koninklijke Philips N.V. is a prominent player in the external defibrillators market. The company prioritizes expansion through acquisitions, collaborations, agreements, and partnerships. In 2022, Philips acquired Cardiologs, a medical technology company specializing in cardiac diagnostics, and partnered with Life-Assist, Inc. and Mackenzie Health to supply and install defibrillators in public places. These strategic moves have amplified Philips’ reach and customer base in the defibrillators market.
  4. Asahi Kasei Corporation (Japan): Asahi Kasei Corporation is a significant contributor to the defibrillator market. The company emphasizes research and development to offer innovative solutions in the field of defibrillation. With a focus on technological advancements, Asahi Kasei continues to make a substantial impact in the market.
  5. Boston Scientific Corporation (US): Boston Scientific is a key player with a strong presence in the global defibrillator market. The company’s commitment to product development and partnerships enables it to meet the evolving demands of the market effectively.
  6. Abbott (US): Abbott is a major player in the defibrillator market, continuously innovating to improve patient outcomes. The company’s growth is driven by its emphasis on product development and commercialization, ensuring it maintains a competitive edge.

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The defibrillator market is poised for substantial growth, with the potential to save countless lives. The collaboration of global players, including Medtronic, Stryker, Koninklijke Philips, Asahi Kasei Corporation, Boston Scientific Corporation, and Abbott, in developing cutting-edge technologies and expanding their reach, underscores the importance of defibrillators in healthcare. As cardiovascular diseases continue to affect individuals worldwide, the defibrillator market remains at the forefront of ensuring swift and effective intervention during cardiac emergencies. With ongoing advancements and an increased focus on training and awareness, the future of the defibrillator market looks promising.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

The global defibrillator market market is expected to reach USD 18.1 billion by 2028 from USD 13.6 billion in 2023, at a CAGR of 5.9% during the forecast period. Factors such as an increase in cardiac arrest among patients with cardiovascular diseases worldwide, growing initiatives by government or private organizations to boost the installation of defibrillators in public access places to enhance the responses during cardiac arrest emergencies, and a rise in defibrillators training & awareness programs are anticipated to propel the growth of defibrillators market during the forecast period. Moreover, ongoing developments in S-ICDs and MRI-compatible ICDs & CRT-Ds and improving healthcare infrastructure in emerging nations will likely support the market’s growth.

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Opportunity: Growing number of mergers & acquisitions among market players

Many key market players in the defibrillator market are increasingly acquiring other players to expand their product offerings globally. These acquisitions help manufacturers of implantable and external defibrillators improve their technical efficiencies, strengthen their financial base, penetrate emerging markets, and offer patients a wide range of products. Acquisitions enable defibrillator manufacturers to maintain their profit margins and enhance their geographic presence despite the increasing cost pressures. Some of the key mergers & acquisitions in the defibrillator market are listed below. In July 2020, ZOLL Medical (an Asahi Kasei subsidiary) acquired Cardiac Science to strengthen its Critical Care segment. This acquisition diversified the company’s defibrillator and cardiac care segment, helping the parent company maintain a competitive edge in the market.

Challenge: Lack of awareness about sudden cardiac arrests in developing countries

Defibrillators are typically used to restore normal heartbeat in critical cardiac patients (such as arrhythmia, cardiac arrest, etc.). However, developing countries such as India, Indonesia, and Brazil are reported with limited public awareness levels about the clinical relevance of timely interventions through defibrillators as well as a limited operational understanding of defibrillators among the general public.

Therefore, clinical and product awareness level in developing countries is a major challenge to sustained and positive demand growth of defibrillator products during the coming decade. This is further aggravated by frequent product recalls resulting in lower availability of innovative external defibrillators in the market.

The defibrillator market is consolidated and dominated by various global players as of 2022. Major players operating in this market are Medtronic (Ireland), Stryker (US), Koninklijke Philips (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US), and Abbott (US). These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in defibrillators.

Medtronic (Ireland): Due to its extensive product portfolio, Medtronic is the leading player in the global implantable defibrillators market. The company primarily focuses on developing innovative products to treat and manage heart failure and heart rhythm disorders. The company focuses on inorganic business growth strategies such as product development & commercialization, acquisitions, and market expansions to strengthen its current position and gain a larger share of the neurovascular devices market. The company received the CE Mark for its implantable defibrillator system, Aurora EV-ICD MRI SureScan, and Epsila EV MRI SureScan for managing irregular heart rhythms in 2023.

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North America to dominate the global defibrillator market

The defibrillators market is segmented based on the region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the defibrillators market. This can be attributed to the rapid adoption of technologically advanced defibrillators, favorable reimbursement policy, and the strong presence of defibrillator manufacturers with a strong focus on strengthening R&D through investments in new product development. Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to the presence of a large target patient pool, government initiatives to modernize & expand healthcare infrastructure, and expansion of market players in the region.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

The global defibrillator market is electrifying the healthcare landscape, with remarkable growth projected in the coming years. The market is expected to reach USD 18.1 billion by 2028 from USD 13.6 billion in 2023, at a CAGR of 5.9% during the forecast period. This substantial growth is driven by the increasing prevalence of cardiovascular diseases, advancements in defibrillator technology, and the growing awareness of the importance of early defibrillation in saving lives.

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In this article, we will explore the key factors propelling the defibrillator market’s expansion, the diverse types of defibrillators, and the promising opportunities it offers for both patients and the healthcare industry.

The Growing Demand for Defibrillators:

The rising incidence of cardiac-related disorders and sudden cardiac arrests (SCAs) is a primary driver behind the growth of the defibrillator market. Each year, millions of lives are affected by heart-related conditions, making immediate defibrillation a critical element in increasing survival rates.

Types of Defibrillators:

  1. Automated External Defibrillators (AEDs): AEDs are user-friendly devices that have gained popularity due to their simplicity. They are commonly found in public places, allowing even bystanders to provide life-saving assistance during emergencies.
  2. Implantable Cardioverter Defibrillators (ICDs): ICDs are implanted under the skin, constantly monitoring the heart’s rhythm. They deliver electric shocks when needed to restore normal heartbeats.
  3. Wearable Cardioverter Defibrillators (WCDs): WCDs are non-invasive devices that can be worn on the body. They are typically prescribed for patients at high risk of sudden cardiac arrest.

Technological Advancements:

Advancements in defibrillator technology have significantly improved their performance, making them more effective and user-friendly. Modern defibrillators come equipped with features like voice prompts, visual instructions, and real-time feedback, enabling even untrained individuals to administer life-saving shocks with confidence.

Market Expansion and Opportunities:

The global defibrillator market offers immense opportunities for both established players and newcomers. With increasing awareness of the importance of defibrillators, governments, healthcare institutions, and communities are investing in making AEDs more accessible in public spaces, schools, and workplaces.

Additionally, the growing elderly population, a demographic more prone to cardiac issues, fuels the demand for implantable defibrillators and other advanced devices. Emerging markets and technological innovations in the field of defibrillation are also contributing to the market’s rapid expansion.

North America to dominate the global defibrillator market

The defibrillators market is segmented based on the region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the defibrillators market. This can be attributed to the rapid adoption of technologically advanced defibrillators, favorable reimbursement policy, and the strong presence of defibrillator manufacturers with a strong focus on strengthening R&D through investments in new product development. Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to the presence of a large target patient pool, government initiatives to modernize & expand healthcare infrastructure, and expansion of market players in the region.

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Major players in the defibrillator market include Medtronic (Ireland), Stryker (US), Koninklijke Philips N.V. (Netherlands), Asahi Kasei Corporation (Japan), Boston Scientific Corporation (US), MicroPort Scientific Corporation (China), Nihon Kohen Corporation (Japan).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

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