The major reasons the global defibrillator market is advancing are the increasing geriatric population and cardiac disease prevalence, technological advancements in these products, and strategic developments among the companies offering these medical devices. P&S Intelligence has made the following key observations regarding the industry:
- Sale of defibrillators will generate revenue of $20,281.6 million by 2030
- Market will grow at a CAGR of 7.2% between 2020 and 2030
Pre-hospital care settings; hospitals, clinics, & cardiac centers; home care settings, and public-access settings are the categories under the end user segment. Among these, the hospitals, clinics, & cardiac centers category held the largest share in the defibrillator market during 2014–2019 (historical period), owing to the rapid procurement of improved products in such settings, for better patient outcomes and cost efficiency. This is also the reason this category will continue dominating the industry throughout the next decade.
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The defibrillator market is bifurcated into external defibrillators and implantable cardioverter defibrillators (ICD), under segmentation by type, of which the ICD bifurcation is expected to generate the higher revenue in the years to come. This is because these products monitor the heart rate, treat tachycardias (fast heart rate), and restore the normal sinus rhythm. With the enhancements in their technology, the demand for them is predicted to keep rising in the years to come.
The objective of this research includes;
- Major factors driving the defibrillators market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering defibrillators market opportunities for the stakeholders
- Major players operating in the market and their service offerings
Other than product launches, mergers & acquisitions are also being pursued by the players in the defibrillator market, to increase their reach. For example, in August 2019, Cardiac Science Corporation, which manufactures and sells AEDs and offers related services and accessories, was acquired by ZOLL Medical Corporation. This move by ZOLL Medical Corporation was aimed at targeting a wider customer base with a larger AED portfolio.
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The major companies operating in the global defibrillator market are Cardiac Science Corporation, SCHILLER AG, ZOLL Medical Corporation, Stryker Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Progetti S.r.l., Mediana Co. Ltd., Boston Scientific Corporation, Abbott Laboratories, Opto Circuits India Ltd., Defibtech LLC, Medtronic plc, MicroPort Scientific Corporation, CU Medical System Inc., Koninklijke Philips N.V., LivaNova PLC, Nihon Kohden Corporation, and BIOTRONIK SE & Co. KG.
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