The Defibrillator market size is projected to reach US$ 17.59 billion by 2031 from US$ 11.51 billion in 2023. The market is expected to register a CAGR of 5.4% during 2023–2031. Technological advancements and increased investments in defibrillators by private players are likely to remain key trends in the market.
Defibrillators market is driven by the rising prevalence of cardiovascular disorders among large populations followed by the increasing training and awareness programs on cardiopulmonary resuscitation and automated external defibrillators. Additionally, various strategies adopted by market players for geographical expansion in emerging markets such as increasing investments, plant manufacturing in developing economies, and others are expected to create lucrative opportunities. Moreover, technological advancements and increased investments in defibrillators by private players are leading to significant future trends in the defibrillator market.
The rising prevalence of cardiovascular disorders among large populations followed by the increasing training and awareness programs on cardiopulmonary resuscitation and automated external defibrillators is driving the growth of the defibrillators market growth. North America is dominating the market owing to the increasing adoption of technological advancements and rising research and development activities are projected to accelerate the growth of the Defibrillator market. Moreover, the presence of large healthcare businesses and the growing usage of Defibrillator is propelling the market's expansion in this region. However, Asia Pacific is anticipated to register significant growth owing to the growing investments from international players in China and India, improving government support in countries, expanding the base of CRO services, and advancing healthcare infrastructure. Therefore, the region holds huge potential for the Defibrillator market players to grow during the forecast period.
Online and offline training programs by organizations such as the WHO, US FDA, regional health centers, and local bodies have increased significantly. Various states in the US have enacted legislations to encourage the use of defibrillators and the availability of AEDs; they have also made provisions for educating and training people for the use and maintenance of AEDs. Additionally, several states have included the use of AEDs in the “good Samaritan” exemption from liability to promote its usage. For instance, in the UK, a training program was introduced by the Advanced Coronary Treatment (ACT) Foundation for secondary school students in association with British Columbia Emergency Health Services (BCEHS). Paramedic volunteers train teachers to educate students at BCEHS. In certain universities, BCEHS is planning to implement defibrillator training as a part of the physical education curriculum. The British Heart Foundation’s “Nation of Lifesavers – Call, Push, Rescue” is another example of a simplified training program that focuses on compression-only CPR and AED. The British Heart Foundation has also taken the lead in rallying medical professionals to support public education in the UK.
With rising cases of cardiovascular diseases in regions such as Asia-Pacific, and South and Central America, the defibrillator market players have started to or are expected to strategize their growth planning around these regions. Cardiovascular diseases have been among the leading causes of death in countries such as India, China, and Brazil. Companies such as Abbott, Medtronic, ZOLL, and Biotronik are expected to continue growing in these emerging markets through mergers, acquisitions, and strategic partnerships in the coming years. For instance, Medtronic invested over US$ 50 million in their manufacturing facilities in Puerto Rico. Over the years, establishment of sales subsidiaries in the Latin American and Asia-Pacific region by companies such as Nihon Kohden, Medtronic, and ZOLL shows the strategic positioning companies are looking to setup in the region. Biotronik, with its already established manufacturing plant in Singapore is looking to implement its research and development activities in the country to further strengthen its business capabilities. This shows ongoing and upcoming strategies by various market players to expand in emerging markets as well as strengthen its presence in other regions.
Key segments that contributed to the derivation of the Defibrillator market analysis are product type and end user.
The geographic scope of the Defibrillator market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market owing to the increasing adoption of technological advancements and rising research and development activities are projected to accelerate the growth of the Defibrillator market. Moreover, the presence of large healthcare businesses and the growing usage of Defibrillator is propelling the market's expansion in this region. The US is projected to be the largest market for defibrillators, the market is attributed due to multiple factors such as increase in cardiovascular disease, rising awareness about the presence of innovative defibrillators, presence of leading pharmaceutical companies in this region and presence of well-developed healthcare infrastructure.. Moreover, in terms of technology, the nation is well ahead of other developed and emerging countries. Advances in technology have resulted in the development of various novel defibrillators and technologies that are used for their applications. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Defibrillator Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Defibrillator Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 11.51 Billion |
| Market Size by 2031 | US$ 17.59 Billion |
| Global CAGR (2023 - 2031) | 5.4% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Defibrillator Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Defibrillator Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Defibrillator market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Defibrillator market are listed below:
The “Defibrillator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America region dominated the Defibrillator market in 2023
The rising prevalence of cardiovascular diosrders among large population followed by the increasing training and awareness programs on cardiopulmonary resuscitation and automated external defibrillators are the driving factors impacting the Defibrillator market
Technological advancements and increased investments in defibrillators by private players are the future trends of the Defibrillator market
The leading players operating in the Defibrillator market includes Medtronic, Abbott, Boston Scientific Corp., Zoll Medical Corp., KONINKLIJKE PHILIPS N.V., Biotronic, Inc., Progetti srl, Shenzhen Mindray Biomedical Electronics Co., Ltd., Nihon Kohden Corp. among others
The estimated value of the Defibrillator market by 2031 is US$ 17.59 Bn
The expected CAGR of the Defibrillator market is 5.4%