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Defibrillators Market

Defibrillation is a technique that is considered as a definitive treatment of cardiac arrests and arrhythmias. Defibrillators are devices that are used to defibrillate or stabilize the heartbeat of the patient in a condition of arrhythmias and ventricular tachycardia. The major function of defibrillation in ventricular arrhythmias is to apply a controlled electrical shock to the heart, which leads to the depolarization of the electrical conduction system of the heart. After the heart is polarized the normal electrical conduction is attained, thus terminating ventricular arrhythmia.

Factors driving demand for defibrillators include high prevalence of cardiovascular disorders, increasing product approvals and launches, and growing adoption of expansion strategies by key market players to expand their geographical presence and product portfolio.

The global defibrillators market size was valued at US$ 13,676.1 million in 2018, and is expected to exhibit a CAGR of 5.5% over the forecast period (2019–2027).

Figure 1. Global Defibrillators Market Value (US$ Mn), by Region, 2018

Source: Coherent Market Insights Analysis (2019)

Increasing incidence and prevalence of cardiovascular disorders is expected to fuel growth of the global defibrillators market

Increasing incidence and prevalence of cardiovascular disorders in developed and emerging economies worldwide is expected to lead to high demand for efficient defibrillator products during the forecast period. For instance, according to the Centers for Diseases Control and Prevention (CDC) 2017 report, around 735,000 people in the U.S. suffer from a heart attack, annually, of which 525,000 people suffer from first heart attack and 210,000 people have already had a heart attack.

Moreover, increasing patient population affected with cardiovascular disorder is expected to lead to high demand for defibrillators over the forecast period. However, product recalls is expected to hinder growth of the market during the forecast period. For instance, in June 2019, Abbott recalled 204 Ellipse implantable cardioverter defibrillators due to electrical failure because of faulty manufacturing which led to exposed aluminum wires which can cause electrical shorting of the capacitor.

Figure 2. Global Defibrillators Market Share (%), by Product Type, (2019-2027)

Source: Coherent Market Insights Analysis (2019)

Increasing technological advancements is a major factor propelling growth of the global defibrillators market

Defibrillators have improved significantly in terms of cost, size reduction, and ease of operation. Two of the most important of these advancements are development of automated external defibrillator (AED) and implantable cardioverter defibrillator (ICD). These devices help prevent cardiac attacks, with little or no external assistance irrespective of the time and location in case of any major variations in heartbeat.

With technological improvements, operating a defibrillator has become easy for a by-stander post induction of proper training. Inbuilt audio and video support with combined CPR and defibrillator facility has encouraged people to use them at public places and at homes. For instance, according to a research published in 2016 by the Johns Hopkins University and Germany’s University of Bonn, are conducting research for use of light defibrillators. The study focuses on the effect of gentle light beams rather than harsh electrical shocks for the treatment of heart arrhythmias. The technology is termed as ‘Light Defibrillation’ and can be used in implantable defibrillators.

Key Players

Major players operating in the global defibrillators market include, Koninklijke Philips N.V., Metrax GmbH, Medtronic, Mindray Medical International Limited, Boston Scientific Corporation, GE Healthcare, Nihon Kohden, Abbott, BIOTRONIK, Stryker, and LivaNova PLC.