The defibrillator is a device that sends electrical energy, or shock, to the heart. The major goal of using a defibrillator is to treat cardiac arrest. In the emergency treatment for ventricular fibrillation and other life-threatening arrhythmias (abnormal heartbeats), defibrillators are being used. Proliferating incidence of sudden cardiac arrest coupled with the rise in the patients related to cardiovascular disease across the globe is resulting in the demand for defibrillators. As per the World Health Organization (WHO), disease-related to cardio is the leading cause of death worldwide. Every approximately 17.9 million deaths happen due to CVDs every year. Also, in one year alone, 475,000 Americans die from a cardiac arrest and 30,000 Hospital Cardiac Arrests occur every year in the UK. Also, it was found that sudden cardiac death (SCD) accounts for up to 20% of deaths in Western societies and Without immediate treatment, 90-95% of sudden cardiac arrest victims die.
Owing to a surge in the number of out of hospital cardiac arrest the government across countries has mandated the installation of a defibrillator in public places, As per the American Heart Association, over 356,000 out-of-hospital cardiac arrest incidences happened annually in the united states and approximately 90% of them are fatal. Also, Approximately 30,000 out of Hospital Cardiac Arrests occur every year in the UK and 270 children die in the UK every year after suffering a Sudden Cardiac Arrest at school.
Moreover, a rise in the geriatric population worldwide is leading to a demand for Defibrillators. As per the United Nations, there were 703 million persons aged 65 years or over in the world in 2019 and the number of older persons is projected to double to 1.5 billion in 2050. As per a conducted by the U.S. National Library of Medicine National Institutes of Health at the incidence of sudden cardiac arrest markedly increases with age, from 100 per 100,000 for 50?year?old patients to 800 per 100,000 for 75?year?old patients in Chicago, USA.
The changing lifestyle coupled with the busy and hectic lifestyle has led to the adoption of a sedentary lifestyle, due to which the prevalence of cardiovascular disease is on the rise. As per the American heart association, 99% of Americans need to improve their heart health, out of that 56% of adults have been told to improve their health. Therefore, with the growing awareness among end-users, the demand and deployment of defibrillators are on the rise. In a report, it was found that for every minute that goes by where a victim of Sudden Cardiac Arrest does not receive treatment, their chances of survival decrease by 10% while In the United Kingdom, the emergency services average response time to a cardiac event related incident in an urban area is 11 minutes. Therefore, the need for immediate treatment of the victim of sudden cardiac arrest is the key contributing factor to the growth of the market.
Based on the product, the defibrillator market is bifurcated into implantable cardioverter defibrillators and external defibrillators. The implantable cardioverter defibrillators segment generated revenue of US$ 10.0 billion in 2019. The market for the implantable cardioverter defibrillators segment is expected to grow at a CAGR of 3.3% during the forecast period to reach a market valuation of US$ 9.0 billion by 2027. However, the external defibrillators market is expected to witness the highest CAGR growth during the forecast period 2021-2027.
Amongst implantable cardioverter defibrillators type, the market is fragmented into subcutaneous implantable cardioverter defibrillators and transvenous implantable cardioverter defibrillators. The transvenous implantable cardioverter defibrillators segment generated revenue of US$ 5.6 billion in 2019. The market is expected to grow at a CAGR of 3.5% during the forecast period to reach a market valuation of US$ 7.6 billion by 2027.
Amongst the external defibrillators market, the market is fragmented into manual & semi-automated external defibrillators, fully automated external defibrillators, and wearable cardioverter-defibrillators. The fully automated external defibrillators segment generated revenue of US$ 1.5 billion in 2019. The market is expected to grow at a CAGR of 8.5% during the forecast period to reach a market valuation of US$ 3.0 billion by 2027.
Based on end-users, the defibrillator market is fragmented into hospitals, clinics, & cardiac Centers, Pre-hospital care settings, Public access market, Alternate care market, and Homecare settings. The Hospitals, clinics, & cardiac Centers segment generated revenue of US$ 8.8 billion in 2019. The market is expected to grow at a CAGR of 5.4 % during the forecast period to reach a market valuation of US$ 13.8 billion by 2027.
For a better understanding of the market penetration of global defibrillators, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and Rest of the World. North America constitutes a major market for defibrillators.
Some of the major players operating in the market include Koninklijke Philips N.V., Nihon Kohden Corporation, Progetti SRL, Schiller AG, ST. Jude Medical (Acquired By Abbott Laboratories), Zoll Medical Corporation (A Part of Asahi Kasei Corporation), Cardiac Science, Boston Scientific Corporation, Physio-Control (Part of Stryker Corporation), and Medtronic.
The global defibrillators market was valued at US$ 10.0 billion in 2019 and is projected to expand significantly with a CAGR of 5.2% from 2021 to 2027. The global defibrillator market is expected to witness a boost, owing to the adoption and advancement in technologies in the healthcare sector due to the surging number of patients across the globe coupled with the government's mandate for the deployment of defibrillators.
The global defibrillators market is witnessing an uptick on account of supportive legislation policies by the government of developed countries as the government in countries such as the U. S, and U. K. has mandated the installation of defibrillators at public places such as schools, government facilities, and institutes. Approximately 80% of put of hospital cardiac arrests occur at home and around 20% will occur in public places in the United Kingdom.
Moreover, a rise in the incidences of sudden cardiac arrest owing to the disease such as Ischemic heart disease, Dilated cardiomyopathy, Hypertrophic cardiomyopathy, Arrhythmia, Congenital heart disease, and Myocarditis is generating the demand for defibrillators. Approximately 30,000 Hospital Cardiac Arrests occur every year in the UK. Also, with growing end-user' awareness about the treatment and use of defibrillators globally, the demand has witnessed a rise. In a study, it was found that Without immediate treatment, 90-95% of Sudden Cardiac Arrest victims will die
Moreover, a sedentary lifestyle and rising aging population who are more prone to the disease is one of the leading causes of the proliferating incidences of sudden cardiac arrest. As per the American Heart Association, every 25 seconds an American will have a coronary event. Also, 56% of the adults in the United States have been told by the healthcare professional to improve their health and 99% of the Americans need to improve heart health.
The government across countries are investing more in healthcare, which is resulting in improved healthcare infrastructure, deployment of necessary medical equipment at public places et. As per OCED, the government in the United States spend USD 8,032.6 USD per capita in 2015 that increased to USD 9,386.5 USD per capita in 2019 same way in the U.K the government spent 3,043.6 USD per capita in 2015 that increased to USD 3,619.5 USD per capita in 2019.
Also, the companies across countries are taking several initiatives to quickly deliver the defibrillator. A transport agency in Sweden is running a program under the test phase, which would deliver AEDs using a drone.
The global defibrillator market is highly fragmented. The availability of numerous global and local players across regions makes the industry highly competitive. The key players with a considerable market share in the industry are Koninklijke Philips N.V., Nihon Kohden Corporation, Progetti Srl, Schiller AG, ST. Jude Medical (acquired by Abbott Laboratories), Zoll Medical Corporation, Cardiac Science, Boston Scientific Corporation, Physio-Control, and Medtronic. Several M&A's along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
Insights Presented in the Report
?Amongst product type, implantable cardioverter defibrillators segment holds the major share?
Based on product type, the market is fragmented into implantable cardioverter defibrillators and external defibrillators. The implantable cardioverter defibrillators segment dominated the market with a share of 67.2% in 2019 and is expected to maintain its dominance during the forecast period on account of the increased consumer awareness about the need for defibrillators and the launch of newer-generation ICDs.
?Amongst implantable cardioverter defibrillators type, transvenous implantable cardioverter defibrillators is expected to dominate the market during the analyzed period?
Based on the market segment by implantable cardioverter defibrillators type, the market is segmented into Subcutaneous Implantable Cardioverter Defibrillators and Transvenous Implantable Cardioverter Defibrillators. In 2019, Transvenous Implantable Cardioverter Defibrillators grabbed the major market share and accounted for 83.8% of the market revenue share. Surging incidences of SCA and the prevalence of CVDs resulting in the demand for the growing market of Transvenous Implantable Cardioverter Defibrillators market. Moreover, the Subcutaneous Implantable Cardioverter Defibrillators segment is expected to grow with a CAGR of more than 2% during the forecast period of 2021-27.
?North America represents one of the largest markets of the defibrillator market?
For a better understanding of the market dynamics of the defibrillator market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC) and Rest of the World has been conducted. North America dominated the market and generated revenue of US$ 3.8 billion in 2019 owing to the escalating healthcare IT investment in the countries such as the U.S and Canada. Moreover, the presence of well-established players and the latest technology upgraded products and services make the region dominant across the globe.
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? Deep dive regional level analysis of the industry
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Table of Contents
1 MARKET INTRODUCTION
1.1 Market Definitions
1.2 Objective of the Study
1.3 Limitation
1.4 Stake Holders
1.5 Currency Used in Report
1.6 Scope of the Global Defibrillator Market Study
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Research Methodology for the Global Defibrillator Market
2.1.1 Main Objective of the Global Defibrillator Market
3 INDUSTRY PERFORMANCE
4 EXECUTIVE SUMMARY
5 CUSTOMER SURVEY
6 COVID-19 IMPACT
7 MARKET INSIGHTS BY PRODUCT TYPE
7.1 Implantable Cardioverter Defibrillators
7.1.1 Subcutaneous Implantable Cardioverter Defibrillators
7.1.2 Transvenous Implantable Cardioverter Defibrillators
7.2 External Defibrillators
7.2.1 Manual & Semi-Automated External Defibrillators
7.2.2 Fully Automated External Defibrillators
7.2.3 Wearable Cardioverter Defibrillators
8 MARKET INSIGHTS BY END-USERS
8.1 Hospitals, Clinics, & Cardiac Centres
8.2 Pre-Hospital Care Settings
8.3 Public Access Market
8.4 Alternate Care Market
8.5 Home Care Settings
9 MARKET INSIGHTS BY REGION
9.1 North America Defibrillator Market
9.1.1 United States
9.1.2 Canada
9.1.3 Rest of North America
9.2 Europe Defibrillator Market
9.2.1 The United Kingdom
9.2.2 France
9.2.3 Germany
9.2.4 Spain
9.2.5 Italy
9.2.6 Rest of Europe
9.3 Asia Pacific Defibrillator Market
9.3.1 China
9.3.2 India
9.3.3 Japan
9.3.4 Australia
9.3.5 South Korea
9.3.6 Rest of Asia Pacific
9.4 Rest of the World Defibrillator Market
10 DEFIBRILLATOR MARKET DYNAMICS
10.1 Market Drivers
10.2 Market Challenges
10.3 Impact Analysis
11
Koninklijke Philips N.V.
Nihon Kohden Corporation
Progetti Srl
Schiller AG
ST. Jude Medical (acquired by Abbott Laboratories)
Zoll Medical Corporation
Cardiac Science
Boston Scientific Corporation
Physio-Control
and Medtronic