Defibrillators Market Growth Report And The Role Of Healthcare Infrastructure

The global defibrillators market size was estimated at USD 7.32 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2030. Increasing product development activities, rising incidence of sudden cardiac arrest, growing awareness among the general public, and supportive initiatives by governments & healthcare organizations are some of the key factors fueling industry growth. In May 2021, Rapid Response Revival Research Ltd.-an Australian company-received a CE mark for its CellAED, the world’s first personal automated external defibrillator (AED) for home use. This supported the company’s growth strategy.

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The COVID-19 pandemic adversely impacted the industry, particularly the International Classification of Diseases (ICDs) market, with dampened demand and sales during 2020. The sales improved as the hospitals resumed elective surgeries. However, the progression of COVID-19 in several key markets continued to create uncertainty during the year. Abbott, for instance, reported improvement in its hospital-based businesses during Q2 and Q3 2020. However, the improving trends flattened or were negatively impacted during Q4 2020 due to a sudden increase in COVID-19 cases and hospitalizations in many countries. Nihon Kohden, on the other hand, reported strong sales growth of defibrillators in 2020, despite inhibited sales activity due to the pandemic.

Increasing geriatric population globally and technological advancements are other key factors that are projected to significantly impact market growth. The older population, particularly those aged between 65 years and above, is more vulnerable to chronic diseases, such as cardiovascular diseases (CVDs), which often require the placement of defibrillators to restore a normal heart rhythm by delivering an electric shock to the heart. For instance, in November 2022, the article "Senior Population Statistics: A Portrait of Aging Americans" reported that around 54.1 million (16.3%) individuals in the U.S. are aged 65 years or above. Thus, the growing geriatric population contributes to the increasing product demand.

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Key Companies profiled:

• Medtronic

• Abbott

• Boston Scientific Corporation

• BIOTRONIK SE & Co. KG

• MicroPort Scientific Corporation

• Koninklijke Philips N.V.

• Stryker

• ZOLL Medical Corporation (Asahi Kasei)

• Nihon Kohden Corporation

• Schiller AG