Defibrillator Market by Product (Implantable (ICD) [Transvenous {Dual Chamber, Single-chamber, CRT-D}, Subcutaneous], External (ECD) [Manual, Automated, Wearable]), End User (Hospital, Emergency Care, Home Care), Age Group - Global Forecast to 2031

The Defibrillator Market was valued at $13.43  billion in 2023. This market is expected to reach $22.76  billion by 2031, from an estimated $14.27  billion in 2024, at a CAGR of 6.9% during the forecast period 2024-2031.

Defibrillator Market Size & Forecast

Cardiac defibrillators are devices used to continuously monitor, regulate, and detect arrhythmias or irregular heartbeats in patients. These devices are available as implants, subcutaneous devices, and external devices.

The growth of the defibrillator market is driven by several factors, including the increasing burden of cardiovascular diseases and the rise in obesity, sedentary lifestyle, and excessive consumption of alcohol & caffeinated products, and technological advancements in defibrillator devices. Emerging economies are identified as one of the most important growth frontiers for medical devices, making them a factor for market growth. The increasing patient pool of individuals suffering from conditions such as cardiovascular diseases, deafness, orthopedic ailments, and other degenerative diseases can benefit greatly from newer technology-based implantable devices, especially for conditions wherein the pharmacological treatment is ineffective. According to the Population Reference Bureau (PRB), the largest regional percentage increase in population by 2050 will be in Africa, whose population can be expected to double from 1.1 billion in 2012 to approximately 2.3 billion in 2050. This is due to the assumption that sub-Saharan Africa’s total fertility rate (TFR, the average number of children per woman) will decline from 5.1 to approximately 3.0 by 2050. Thus, the increasing population, along with the rising burden of chronic cardiovascular diseases in developing countries like India, Brazil, and Indonesia, etc. are resulting in increasing healthcare expenditure, which proportionally drives the demand for cardioverter defibrillators and also serves as an opportunity for key players in emerging economies.

Increasing Burden of Cardiovascular Diseases is Driving the Demand for Portable Defibrillators

Cardiovascular diseases (CVD), which include coronary heart diseases, cerebrovascular diseases, and peripheral vascular diseases, are the leading causes of death globally, especially in the U.S. and other developed countries. The major risk factors include obesity and its consequences, such as dyslipidemia, hypertension, and insulin resistance, leading to diabetes. According to the American Heart Association (AHA), in 2020, approximately 19.1 million deaths were globally attributed to CVD. Moreover, cardiovascular diseases claim more lives each year than all forms of cancer and chronic lower respiratory disease combined.

Defibrillators are devices that are implanted inside or outside of the body, to be able to amend certain cardiac episodes such as cardiac arrhythmia. Most cardiac episodes are instigated by the rapid, chaotic activity of the heart, known as ventricular tachycardia (VT) or ventricular fibrillation (VF). Cardiac arrest is rescindable in most victims if treated within minutes, but the only effective treatment is the delivery of an electrical tremor. Several types of defibrillators are being used to control arrhythmia and prevent serious complications. For instance, in October 2023, Medtronic plc (Ireland) received the U.S. Food and Drug Administration (FDA) approval for the Aurora EV-IVD MRI SureScan and Epsila EV MRI SureScan defibrillation, which treat dangerously fast heart rhythms that can lead to sudden cardiac arrest.

Rising Geriatric Population in Emerging Economies

Emerging economies are widely recognized as one of the most important growth frontiers for medical devices. The increasing patient pool of individuals suffering from conditions such as cardiovascular diseases, deafness, orthopedic ailments, and other degenerative diseases can benefit greatly from newer technology-based implantable devices, especially for conditions wherein the pharmacological treatment is effective. For instance, according to the Asia Aging International Population Reports 2022, the number of people aged 65 and older is projected to rise from 730 million in 2020 to nearly 2 billion by 2060. The increasing population leads to the growing prevalence of chronic diseases. According to the National Association of Chronic Disease Directors and the Centers for Disease Control and Prevention (CDC), more than two-thirds of all deaths are caused by one or more of five chronic diseases (heart disease, cancer, stroke, chronic obstructive pulmonary disease, and diabetes). Thus, the increasing pool of population and rising burden of cardiovascular diseases in developing countries like India and Brazil results in increasing healthcare expenditure which proportionally drives the demand for defibrillators and also serves as an opportunity for the key players in emerging economies.

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Key Findings of the Defibrillator Market Study:

The Implantable Cardioverter Defibrillators Segment is Expected to Account for the Largest Share of the Market in 2024

Among products, in 2024, the implantable cardioverter defibrillators segment is expected to account for the largest share of the market. Implantable cardioverter defibrillator devices (ICDs) are battery-powered devices that are placed under the skin in the upper chest to keep track of the heart rate. An ICD uses electrical pulses or shocks to help control life-threatening arrhythmias, especially those that can cause a sudden cardiac arrest. The large share of the segment is attributed to factors such as wide adoption of permanent implantable cardioverter defibrillators for the prevention of sudden cardiac arrests and atrial fibrillation, rising amount of modern therapies, and increasing awareness towards healthcare. For instance, according to the American Heart Association (AHA), more than 350,000 cardiac arrests occur outside of the hospital each year. In 2020, the sudden cardiac arrest mortality in the U.S. was 436,852. If CPR or cardiac defibrillation is administered immediately after cardiac arrest, it can double or triple the chance of the patient’s survival. This should increase the demand for implantable defibrillators, driving the growth of the market.

The Adult Segment is Expected to Account for the Largest Share of the Market in 2024

Among age groups, in 2024, the adult segment is expected to account for the larger share of the market. The large share of the segment is attributed to factors such as the high prevalence of cardiovascular diseases in adults compared to pediatrics, change of lifestyle, frequent occurrence of ventricular fibrillation as compared to children, and increasing awareness of the use of portable defibrillators. According to the Centers for Disease Control and Prevention (CDC) (U.S.), in 2021, coronary artery disease was the most common type of heart disease and led to the death of 375,476 people globally. Owing to the higher demand from the adult age group, companies are developing technologically advanced defibrillators. For instance, in January 2023, Avive Solutions, Inc. (U.S.), a medtech company that develops automated external defibrillators, received FDA approval for the Avive Connect Automated External Defibrillator (AED), which combines cellular, WiFi connectivity, GPS technology, remote maintenance, and extreme portability in a handheld device. This can be used for adults who suffer from sudden cardiac arrest (SDA).

The Hospitals Segment is Expected to Account for the Largest Share of the Market in 2024

Among end users, in 2024, the hospitals segment is expected to account for the largest share of the market. The large share of the segment is attributed to factors such as the large pool of patients, including the population with cardiovascular diseases visiting the hospitals for diagnosis & treatment, owing to wide presence, easy accessibility, and better healthcare facilities in hospitals as compared to other healthcare institutions. In addition to this, increasing incidence & prevalence of cardiovascular diseases such as hypertension, bradycardia, heart failure, and cardiac arrest with a rising aging population also drive the growth of the market. The surge in hospital admissions is primarily driven by the escalating burden of chronic diseases. For instance, as of December 2023, according to the American Hospital Association (AHA), the total hospital admissions in U.S. hospitals were 33,679,935. This would also lead to an increased number of cardiovascular conditions found in patients, which could lead to death if life-saving measures are not administered immediately. This would increase the demand for implantable cardioverter defibrillators, driving the growth of the market.

North America: Largest Regional Market

The large share of the segment is attributed to the increasing incidence & prevalence of cardiovascular diseases, growing aging population, well-established healthcare system, higher healthcare expenditure, presence of large medical device manufacturers in this region, and increased accessibility & higher adoption of technically advanced medical devices for prevention, diagnosis, monitoring, and therapeutics. According to the American Hospital Association (AHA), as of 2023, there are a total of 6,120 hospitals in the U.S. The increase in the number of hospitals, coupled with advancing technologies, will further drive the market for defibrillators. For instance, in February 2024, BIOTRONIK US (U.S.), a subsidiary of Biotronik Se & Co., Kg (Germany), is moving to adopt new technologies in the proprietary DX models. This technology is the new single-chamber ICD implant, which has been known to provide better diagnostics and decrease complication risks in clinical trials as compared to traditional high-voltage systems.

Defibrillator Market: Competitive Analysis

The report includes a competitive landscape based on an extensive assessment of the market based on product and end user. The report also provides insights into the presence of major market players and their key growth strategies in the last three to four years.The key players profiled in the defibrillator market report are Medtronic plc (Ireland), Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.), Biotronik Se & Co., Kg (Germany), LivaNova plc (U.K.), Stryker Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), Nihon Kohden Corporation (Japan), Progetti Srl (Italy), Fukuda Denshi Co., Ltd. (Japan), Schiller AG (Switzerland), and ZOLL Medical Corporation (U.S.).

Defibrillator Market Report Summary:

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