Meticulous Research®’s latest report on the defibrillator market provides a comprehensive overview of the market’s growth prospects. The market is projected to reach $22.76 billion by 2031, with a CAGR of 6.9% from 2024 to 2031. This growth is driven by the increasing burden of cardiovascular diseases, the rise in obesity, and the adoption of sedentary lifestyles.
Technological advancements in defibrillator devices are also playing a significant role in the market’s expansion. The development of advanced devices, such as the CellAED personal defibrillator by Rapid Response Revival Research Ltd, has improved the chances of surviving a sudden cardiac arrest. This handheld device is portable, easy to use, and requires no special medical training.
However, the market faces challenges, including the lack of skilled professionals to operate these devices and the increasing number of product recalls due to malfunctions. For instance, Medtronic plc’s recall of its ICDs and CRT-Ds in July 2023 due to the risk of low or no energy output during high voltage therapy highlights the need for continuous improvement in device safety and reliability.
End User
- Hospitals: Hospitals are expected to be the largest end users of defibrillators due to their extensive use in diagnosing and treating cardiovascular conditions. Hospitals have the infrastructure and expertise required for the effective deployment of defibrillators, making them a key market segment.
- Emergency Care: The demand for defibrillators in emergency care settings is increasing as these devices are critical for immediate intervention in cases of sudden cardiac arrest. Emergency medical services (EMS) and first responders are key users of external defibrillators.
- Home Care: The growing adoption of home care solutions for elderly and high-risk patients is driving the demand for home-use defibrillators. Devices designed for home care are often compact and user-friendly, making them suitable for non-professional caregivers.
Key Players
The key players profiled in the defibrillator market report are Medtronic plc (Ireland), Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.), Biotronik Se & Co., Kg (Germany), LivaNova plc (U.K.), Stryker Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), Nihon Kohden Corporation (Japan), Progetti Srl (Italy), Fukuda Denshi Co., Ltd. (Japan), Schiller AG (Switzerland), and ZOLL Medical Corporation (U.S.).
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Key questions answered in the report:
- Which are the high-growth market segments in terms of defibrillators by product, age group, end user, and geography?
- What was the historical market for defibrillators across the globe?
- What are the market forecasts and estimates for the period 2024–2031?
- What are the major drivers, restraints, opportunities, and challenges in the defibrillator market?
- Who are the major players operating in the defibrillator market?
- What is the competitive landscape like, and who are the leaders in the defibrillator market?
- What are the recent developments in the defibrillator market?
- What are the different strategies adopted by the major players in the defibrillator market?
- What are the geographical trends and high-growth regions/countries?
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