April 13, 2024

Defibrillators Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2030

Defibrillators are medical devices used for treating life-threatening cardiac conditions like cardiac arrhythmia and sudden cardiac arrest by administering electrical therapy to revert them back to normal heart rhythm. Defibrillators are available in different forms including implantable cardioverter defibrillators (ICDs), wearable cardioverter defibrillators, and external defibrillators. Defibrillators help restore normal heart rhythms with electric shocks to prevent sudden cardiac death. The growing geriatric population vulnerable to target indications, favorable public and private investment in prevention and treatment of target diseases and disorders, and increasing focus on preventive healthcare are fueling the demand for defibrillators globally.

The global Defibrillators Market is estimated to be valued at US$ 16,843.5 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/defibrillators-market-115

Market key trends:

One of the key trends in the defibrillators market is growing preference for wearable defibrillators. Wearable cardioverter defibrillators are small, battery-powered portable devices that check the patient’s heart rhythm full-time and deliver an electric shock to restore normal heart rhythm when a serious arrhythmia is detected. These wearable defibrillators allow patients and healthcare providers time to determine the most effective long-term treatment while providing protection from sudden cardiac arrest. They are most commonly used to bridge a gap for patients awaiting an implantable cardioverter-defibrillator (ICD). With technological advances, wearable defibrillators are becoming more compact, lightweight, and user-friendly thereby increasing their adoption globally.

Porter’s Analysis

Threat of new entrants: Low as it requires high R&D investment and stringent regulatory approvals.
Bargaining power of buyers: Moderate as buyers have several options but individual consumer’s need does not impact significantly.
Bargaining power of suppliers: Moderate as key components require specialized manufacturing but many alternate suppliers exist.
Threat of new substitutes: Low as defibrillators are irreplaceable medical devices for cardiac conditions.
Competitive rivalry: High between large multinationals due to technological advancements and acquisitions.

Key Takeaways

The global defibrillators market is expected to witness high growth. The global Defibrillators Market is estimated to be valued at US$ 16,843.5 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period from 2023 to 2030.

Regional analysis

North America dominates the market owing to growing aged population, heart diseases and regulatory approvals for new devices in the US. Asia Pacific is expected to grow at fastest pace due to rising healthcare investments, heart disease burden and expanding medical device industry in China and India.

Key players

Key players operating in the defibrillators market are Koninklijke Philips N.V., Metrax GmbH, Medtronic, Mindray Medical International Limited, Boston Scientific Corporation, GE Healthcare, Nihon Kohden, Abbott, BIOTRONIK, Stryker, and LivaNova PLC. Philips, Medtronic and St Jude Medical are global leaders with wide distribution network and new product launches.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it