Defibrillators are instruments designed to administer an electric charge to the heart, aiming to reinstate a regular heartbeat. In the event of cardiac arrest, commonly referred to as sudden cardiac arrest (SCA), a defibrillator can be instrumental in restoring heart function. Sudden cardiac arrest is typically fatal unless immediate intervention occurs through CPR (cardiopulmonary resuscitation) and the use of a defibrillator.
There are three main types of defibrillators:
- Automated External Defibrillators (AEDs) - AEDs are commonly present at public places, can be utilized by anyone to save lives during cardiac arrest
- Implanted Cardioverter Defibrillators (ICDs) - ICDs are chest-implanted devices, that automatically detect and address cardiac arrest or severe arrhythmias by delivering a strong electric charge.
- Wearable Cardioverter Defibrillators (WCDs) - WCDs take the form of vests equipped with rechargeable batteries. Analogous to the ICD, they autonomously identify life-threatening rhythms and administer an electric charge to reinstate a normal rhythm.
Launch of advanced products by market players to drive growth
The development of advanced products to fulfil the increasing demand for defibrillators is anticipated to be a contributing factor to the market’s growth. Continuous advances in defibrillators have enabled to develop efficient devices with increased battery longevity, smaller size, Bluetooth enabled, and MRI-compatible, among others. Such advancements tend to provide competitive edge to manufacturers and therefore, major players are continuously focusing on investing in research activities for new product development and expanding their geographic reach to strengthen their positions in this market. For instance-
- In February 2023, Medtronic received the CE mark for its Aurora EV-ICD MRI SureScan implantable defibrillator system and Epsila MRI SureScan, designed for the treatment of irregular heart rhythm
- In May 2022, MicroPort CRM received approval from China’s National Medical Products Administration (NMPA) for its Platinium implantable cardioverter defibrillator (ICD), with an expected lifespan of 13-14 years reducing the risks associated with frequent replacements
- Zoll Medical Corporation introduced a novel remote view technology feature for its X Series monitor/defibrillator in July 2020, thereby augmenting its product lineup
- In July 2021, Jeevtronics Pvt Ltd introduced the SanMitra 100 HCT, a hand-cranked dual-powered defibrillatorsuitable for use in electricity-unavailable areas.
- In September 2019, Shenzhen Mindray Bio-medical Electronics Co. Ltd. introduced the BeneHeart C Series AED, designed to enhance resuscitation outcomes during sudden cardiac arrest (SCA). This device features ResQNavi technology, providing users with step-by-step guidance through the rescue process via animated visuals and voice prompts.
Global Surge in Cardiovascular Diseases Fuels Demand for Defibrillators
The rise in cardiovascular diseases is a key factor propelling the defibrillator market. As per, data from the British Heart Foundation (BHF) in January 2022 revealed the global prevalence of major heart conditions, including coronary (ischemic) heart disease, peripheral arterial (vascular) disease, stroke, and atrial fibrillation. 46 million people in North America, 99 million in Europe, 58 million in Africa, 32 million in South America, and 310 million in Asia and Australia are estimated to be prevalent for major heart related conditions. Additionally, according to WHO, 32% of all deaths across the globe i.e., 17.9 million people die due to CVD every year. As per European Heart Network, CVDs account for over 3.9 million deaths every year in the European region, out of which over 1.8 million deaths occur in the European Union (EU).
Furthermore, a sedentary lifestyle, poor diet, tobacco use, excessive alcohol consumption, and physical inactivity are behavioural risk factors for heart disease and stroke. These factors also raise blood pressure, blood sugar, and cause overweight and obesity in people, which adds to the burden of CVDs overall. Furthermore, rising geriatric population prone to heart defects due to progressive deterioration in the structure and function of the heart, largely contributes to the high burden of CVDs. Such significant burden of cardiovascular diseases is poised to drive the demand for defibrillators. These devices play a crucial role in reviving patients from sudden cardiac arrest by delivering a sudden shock to restore oxygen and blood flow to vital organs, thereby fostering market growth.
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Global Defibrillator Market Key Players
Some of the key players operating in the market include Medtronic, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Abbott, MicroPort Scientific Corporation, Stryker, ZOLL Medical Corporation (Asahi Kasei), Koninklijke Philips N.V, Nihon Kohden Corporation, Progetti Srl, Schiller AG, AXION Ltd., METsis Medikal, and Mediana Co. Ltd., among others.
Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in the Market
Players operating in this market are adopting organic and inorganic growth strategies such as obtaining approvals from regulatory bodies and pursuing mergers and acquisitions to enhance their market position, access new technologies, and broaden their customer base. For instance,
- In January 2022, Koninklijke Philips N.V. (Netherlands) completed the acquisition of Cardiologs based in France, enhancing its portfolio of cardiac diagnostic and monitoring products
- In July 2020, ZOLL Medical, a subsidiary of Asahi Kasei, bolstered its Critical Care segment by acquiring Cardiac Science. This strategic move expanded the company's portfolio in defibrillators and cardiac care, enhancing its competitive position in the market
- In 2020, the European Emergency Number Association (EENA) initiated a collaborative project with Everdrone and Schiller, aimed at investigating the potential applications of Unmanned Aerial Vehicles (UAVs) in emergency medical deliveries. Schiller contributed AEDs for the project, strategically supporting its position in the market
The defibrillator market is anticipated to gain increased momentum in the upcoming years owing to the accelerated growth in the coming years, fueled by rising mergers and acquisitions among industry players, expanding healthcare infrastructure in emerging nations, a surge in defibrillator utilization in public spaces, and strategic initiatives to gain regulatory approvals and enter new markets.
Defibrillator Market Scope:
Market Growth Projection (CAGR)
Key Growth Drivers
- Rising incidence of cardiovascular diseases
- Technological advancements by major companies
- Increased public awareness for AEDs
- Supportive initiatives from governments and healthcare organizations
Types of Defibrillators
- Automated External Defibrillators (AEDs)
- Implanted Cardioverter Defibrillators (ICDs)
- Wearable Cardioverter Defibrillators (WCDs)
Recent Product Launches/Approvals
- Medtronic's CE mark for Aurora EV-ICD MRI SureScan and Epsila MRI SureScan
- MicroPort CRM's approval for Platinium ICD in China
- Zoll Medical Corporation's remote view technology for X Series monitor/defibrillator
- Jeevtronics Pvt Ltd's introduction of SanMitra 100 HCT hand-cranked defibrillator
- Shenzhen Mindray Bio-medical's introduction of BeneHeart C Series AED
Key Market Players
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
- MicroPort Scientific Corporation
- ZOLL Medical Corporation (Asahi Kasei)
- Koninklijke Philips N.V
- Nihon Kohden Corporation
- Progetti Srl
- Schiller AG
- METsis Medikal
- AXION Ltd.
- Mediana Co. Ltd.
Global Defibrillator Market Key Strategic Questions Addressed
- What is the market size and forecast for the Defibrillator Market?
- What are the historical, present, and forecasted market shares and growth rates of various segments and sub-segments of the Defibrillator Market?
- What are the major growth drivers, restraints/challenges impacting the market?
- What are the opportunities prevailing in the market?
- What is the investment landscape?
- Which region has the highest share in the market? Which region is expected to witness the highest growth rate in the next 5 years?
- Who are the major players operating in the market? What is the competitive positioning of key players?
- Who are the new players entering the market?
- What are the key strategies adopted by players?