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The global defibrillators market is expected to grow at a CAGR of 5.97% over the forecast period to reach US$19.135 billion by 2027 from US$12.756 billion in 2020.
The defibrillator is a medical equipment that is used to send an electrical shock to the heart for the restoration of the heartbeat. The equipment prevents or corrects uneven heartbeat which could lead to sudden cardiac arrest. The prevalence of heart disease, and bypass surgeries are showing a constant rise coupled with the growing old age population.
For instance, according to the World Health Organization, in 2019, the number of deaths recorded due to cardiovascular disease stood at 17.9 million which represented 32% of all global deaths. Furthermore, according to the Centre for Disease Control and Prevention, in 2020, in the United States, the number of death recorded due to heart disease stood at 697,000.
Moreover, according to Eurostat, in 2020, 38,900 heart bypass surgeries were conducted in Germany which was more than double the number of surgeries conducted in any of the EU’s member states. Owing to such a high death count due to heart diseases and an increase in bypass surgeries, the demand and usage of defibrillators in such instances are also projected to increase in the future, thereby boosting the global defibrillators market growth during the forecast period.
Based on type, the global defibrillator market is segmented into automated external defibrillators (AED), implantable cardioverter-defibrillator (ICD), and wearable cardio defibrillators (WCD). The automated external defibrillator (AED) is expected to grow at a relatively higher rate during the forecast period in the global defibrillators market. Automated external defibrillators have high applicability during the treatment of sudden cardiac arrest, as the combination of the equipment with CPR improves the resuscitation chances.
The equipment is portable and can automatically analyze the heart rate of an individual who is experiencing cardiac arrest. Owing to its high-performance features coupled with growing cases of heart failure, the demand for the automated external defibrillator is projected to increase, thereby improving the segment growth as well as the market growth of the global defibrillators market during the forecast period.
The favorable government initiatives and investments to increase access to defibrillators are creating a surge in the market demand for defibrillators. Defibrillators provide the urgent assistance required to maintain a heartbeat of an individual during a sudden cardiac arrest situation which can occur anywhere. Realizing the growing threat of heart diseases various initiatives, schemes, and investments have been implemented by the governing authorities to tackle such health-related issues.
For instance, in May 2022, the Delhi government announced its plans to install automated external defibrillators in public places such as bus stops, railway stations, and marketplaces to provide quick medical assistance to people who suffer cardiac arrest in public places.
Also, in March 2021, the Rankin government announced investments of US$700,000 to install automated external defibrillators in all public schools in Nova Scotia. Furthermore, in February 2022, the Welsh government announced investments of US$676.8 million to increase the availability of defibrillators in public organizations, community groups, and sports grounds to improve the survival rate of people who suffers a sudden cardiac arrest outside the hospitals.
Such favorable investments and plans to increase access to defibrillators in public places will create a surge in the demand and usage of the equipment, thereby boosting their market growth at a global level during the forecast period.
Recent developments:
- In February 2020, Automated External Defibrillator startup HeartHero entered into a strategic collaboration with the American College of Cardiology for the transformation of cardiovascular care through HeartHero’s portable AED products.
- In September 2019, China-based medical device manufacturer Mindray launched BeneHeart C series automated defibrillator that provides smart operations and quicker shock deliveries to achieve better resuscitation outcomes during sudden cardiac arrest.
- ZOLL Medical Corporation, in August 2019, completed the acquisition of Cardio Science Corporation which is one of the leading manufacturers of automated external defibrillator products and accessories. The acquisition will increase the AED product portfolio of Zoll Medical Corporation.
Market Segmentation:
By Type
- Automated External Defibrillator (AED)
- Implantable Cardioverter-Defibrillator (ICD)
- Wearable Cardio Defibrillator (WCD)
By End-User
- Hospitals & Clinics
- Ambulatory Surgical Center
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- United Arab Emirates
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Taiwan
- Others
Companies Mentioned
- Novo Nordisk A/S
- Beckton, Dickinson and Company
- Medtronic
- Sanofi
- Eli Lilly and Company
- Ypsomed AG
- Biocon Limited
- Insulet Corporation
- Tandem Diabetes Care, Inc.
- F. Hoffman-La Roche Ltd
For more information about this report visit https://www.researchandmarkets.com/r/tm05ay-insulin?w=5
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