Global Defibrillator Market

Defibrillator Market Size, Share, Growth Analysis, By Product(Implantable Cardioverter Defibrillators (ICD), and External Defibrillators (ED)), By End-User(Hospital, Pre-Hospital, Public Access Market, Alternate Care Market) - Industry Forecast 2024-2031

Report ID: SQMIG35A2240 | Region: Global | Published Date: March, 2024
Pages: 219 | Tables: 64 | Figures: 75

Defibrillator Market News

  • In October 2022, Medtronic plc, a leading medical technology company, announced the launch of its next-generation defibrillator platform, the Medtronic Cobalt XT System. The system incorporates advanced features, including artificial intelligence (AI) algorithms and wireless connectivity, to improve patient outcomes and provide remote monitoring capabilities.
  • In September 2022, Philips Healthcare introduced its latest defibrillator, the Philips HeartStart FR3, designed for professional responders and healthcare providers. The FR3 defibrillator offers advanced monitoring capabilities, intuitive user interface, and real-time CPR guidance to enhance the effectiveness of resuscitation efforts.
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Defibrillator Market size was valued at USD 12.76 Billion in 2022 and is poised to grow from USD 13.68 Billion in 2023 to USD 23.86 Billion by 2031, at a CAGR of 7.20% during the forecast period (2024-2031).

The market is characterized by fierce competition. Market participants use a variety of strategic strategies to improve their market share. Creation of products, regional expansion, collaborations and partnerships, and mergers and acquisitions are examples of these. 'Medtronic plc', 'Philips Healthcare', 'Abbott Laboratories', 'Boston Scientific Corporation', 'ZOLL Medical Corporation', 'Physio-Control, Inc. (a Stryker Company)', 'Cardiac Science Corporation', 'Nihon Kohden Corporation', 'Koninklijke Philips NV.', 'SCHILLER AG', 'CU Medical Systems, Inc.', 'Progetti S.r.l.', 'Mindray Medical International Limited', 'Defibtech, LLC', 'LivaNova PLC', 'Cardionet, LLC (a BioTelemetry Company)', 'Biotronik SE & Co. KG', 'Welch Allyn (a Hill Rom Company)', 'Cardiac Science Corporation', 'Physio-Control, Inc. (a Stryker Company)'

Technological Advancements: The defibrillator market is witnessing rapid technological advancements aimed at enhancing device performance, ease of use, and patient outcomes. Key technological trends include the integration of artificial intelligence (AI) algorithms for more accurate detection of cardiac rhythms, wireless connectivity for remote monitoring and data transmission, and improved user interfaces for intuitive operation.

In 2022, North America had the highest revenue contribution of more than 35.0%. The expansion of the North American market may be ascribed to key companies' endeavors, favorable legislation, and highly technological medical centers in the United States and Canada. There were 16,500 registered in the United States alone, indicating a high rate of adoption.

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Global Defibrillator Market

Product ID: SQMIG35A2240