News | Defibrillator Monitors | August 03, 2022

Defibrillator Market Size Projected to Reach $21B by 2030

 

The Global Defibrillator Market size was valued at $11.30 billion in 2021 and is predicted to reach $21.09 billion by 2030, increasing at a CAGR of 7.18% from 2022 to 2030. In 2021, the revenue share held by North America was the highest, at more than 40 percent of total revenue

The Global Defibrillator Market size was valued at $11.30 billion in 2021 and is predicted to reach $21.09 billion by 2030

Getty Images


August 3, 2022 — A defibrillator administers a therapeutic shock to a patient's heart in life-threatening circumstances such ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia. A defibrillation treatment depolarizes the heart's muscles and restores its normal electrical impulse. External defibrillators use paddles or electrode pads to diagnose and fix abnormal heart rhythms in cardiac arrest.

Increasing public and private interest in PADs has fueled business growth. Increasing elderly population, which has a higher risk of cardiac arrest, and heart disease also drive market expansion. Defibrillators can pace and defibrillate the heart. AEDs can be manual or portable (WCDs). Due to their efficacy and ease of use, AEDs are widely used to treat SCA. Pricing pressure is stifling the defibrillator market.

Cardiac Diseases Will Drive Market Growth

Increased prevalence of cardiac problems across age groups due to demanding jobs, sedentary lifestyles, cigarettes, alcohol, and substance misuse is expected to fuel AED market expansion.

"Global epidemiology of atrial fibrillation: an increasing epidemic and public health challenge" was published in January 2020 in the International Journal of Stroke. It stated that the worldwide prevalence of atrial fibrillation was 37,574 million cases (0.51% of the global population), which increased by 33% over the last 20 years. According to this analysis, the number of patients with atrial fibrillation could climb by 60% by 2050. Growing arrhythmia burden may enhance market growth during forecast period.

Aging Population and Public AEDs

The ageing population is another industry driver. According to the UN Department of Economic and Social Affairs, the number of 65-plus individuals worldwide will climb from 727 million to 1.5 billion by 2050. The population over 65 is expected to climb from 9.3% in 2020 to 16.0% in 2050. Age increases the risk of chronic diseases like CVD.

Increased public AED use is also driving market expansion. More train stations, schools and universities, shopping centers, airports, malls and leisure facilities are installing the device as people learn about its life-saving powers. In a medical emergency, anyone can use public access defibrillators (PADs). As SCA instances rise, many countries are installing PADs in public spaces.

Defibrillator Innovations Provide Profitable Opportunities

Due to developments in next-generation defibrillators, the Defibrillators Market is likely to rise faster than expected. These Market Defibrillators assist detect and address device-related issues. SCA is a life-threatening disorder and the world's leading cause of death. Early intervention and defibrillation can control this disease. Due to rising use by heart failure patients worldwide, AEDs lead the global external Defibrillators Market, which is expected to grow at the fastest rate in the future. As more AEDs became accessible, so did demand. Manual external Defibrillators are second only to wearables. Implantable and automated external defibrillators may face market issues in the next years. S-ICDs and MRI-compatible ICDs & CRT-Ds may also boost market growth in the coming year.

Regional Overview of Global Defibrillator Market

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the defibrillator market.

North America held almost 40% of overall revenue in 2021. Favorable laws, important company activities, and technologically advanced healthcare facilities in the U.S. and Canada all contributed to the market's growth in North America. In 2020, Boston Scientific sold 33,000 CRT-Ds, including Resonate, Autogen, Dynagen, Incepta, and Cognis. 16,500 were registered in the U.S. alone, indicating a high adoption rate.

According to the CDC's September 2021 report, 659,000 Americans die from heart disease per year and 805,000 have a heart attack, of which 605,000 had their first and 200,000 had already had one. This high heart attack rate is expected to drive U.S. market growth.

Asia Pacific's CAGR is expected to be 7.88% over the projection period. This is due to improvements in healthcare infrastructure, more patients, and cardiovascular illnesses. Due to high defibrillator penetration and favorable regulation, Japan has led regional expansion. Nihon Kohden, a Japanese industry leader, forecasts 2020 manual external defibrillator sales of over $66,000.

Key Highlights

  • The Global Defibrillator Market size was valued at USD 11.30 billion in 2021 and is predicted to reach at USD 21.09 billion by 2030, increasing at a CAGR of 7.18% from 2022 to 2030.
  • By Product, the Global Defibrillator Market is segmented into Implantable Cardioverter Defibrillators (ICDs) and External Defibrillators (ED). ICDs, or implantable cardioverter defibrillators, have a market share of more than 72 percent in 2021, making them the industry standard.
  • By End Use, the Global Defibrillator Market is segmented into Hospital, Pre-Hospital, Public Access Market, Alternate Care Market, and Home Healthcare. In 2021, hospitals had the greatest revenue share, accounting for more than 75 percent of total revenue.
  • By Region, the Global Defibrillator Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Over 40% of the revenue in 2021 came from North America.

For more information: https://straitsresearch.com/

Related Content

News | Heart Failure

August 8, 2022 — A major risk factor for diabetes, insulin resistance occurs when the cells of the body do not respond ...

Home August 08, 2022
Home
News | Heart Failure

August 5, 2022 — For people with coronary heart disease, beta-blockers can improve survival and quality of life, while ...

Home August 05, 2022
Home
News | Heart Failure

July 27, 2022 — The world’s first HIV-positive to HIV-positive heart transplant has been successfully performed at ...

Home July 27, 2022
Home
News | Heart Failure

July 27, 2022 — Researchers from RCSI University of Medicine and Health Sciences have developed a new lab-based model of ...

Home July 27, 2022
Home
News | Heart Failure

July 20, 2022 — Sequana Medical NV, a pioneer in the treatment of drug-resistant fluid overload in liver disease and ...

Home July 20, 2022
Home
News | Heart Failure

July 15, 2022 — The American Heart Association, the leading voluntary organization devoted to longer, healthier lives ...

Home July 15, 2022
Home
News | Heart Failure

July 13, 2022 — Ancora Heart, Inc., a company developing a novel device-based therapy to address heart failure, today ...

Home July 13, 2022
Home
News | Heart Failure

July 12, 2022 — Pesticides and heavy metals in soil may have detrimental effects on the cardiovascular system, according ...

Home July 12, 2022
Home
News | Heart Failure

July 7, 2022 — Tenaya Therapeutics, Inc., a biotechnology company with a mission to discover, develop and deliver ...

Home July 07, 2022
Home
News | Heart Failure

June 29, 2022 — A spiral wave of electrical activity in the heart can cause catastrophic consequences. One spiral wave ...

Home June 29, 2022
Home
Subscribe Now