What is the global market size of Defibrillator Market?

Global Defibrillator Market size was valued at USD 11.19 Billion in 2021 and is poised to grow from USD 12.76 Billion in 2022 to USD 20.8 Billion by 2030, at a CAGR of 7.20% during the forecast period (2023-2030).

What is the key driver of Global Defibrillator Market?

The growing prevalence of certain target diseases is having a significant impact on healthcare worldwide. Cardiovascular diseases, including coronary artery disease and cardiac arrest, affect a substantial portion of the global population, leading to an increasing number of deaths. According to data from the Centers for Disease Control and Prevention (CDC), approximately 695,000 deaths in the United States were attributed to cardiovascular diseases in 2021. Coronary artery disease, in particular, elevates the risk of sudden cardiac death due to arrhythmias. A report published by the Coronary Artery Disease Foundation in 2022 reveals that roughly 356,000 out-of-hospital cardiac arrests (OHCA) are reported annually in the United States. Lifestyle-related conditions such as obesity, hypertension, dyslipidemia, and diabetes play a significant role in increasing the risk of various cardiovascular diseases. Additionally, the global aging population is a key factor contributing to the rising prevalence of cardiovascular diseases. Aging is associated with a heightened risk of developing ventricular arrhythmias, primarily due to the progressive deterioration and increased complexity in the structure and function of the heart. This leads to a growing prevalence of arrhythmias in the aging population.

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

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

Global 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.

Global Defibrillator Market Report Snapshots

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Global 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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