Report Overview

Global Cardiology Defibrillators Devices Sales Market- Industry Trends & Forecast Report 2027

The global cardiology defibrillator devices market was worth USD 9.52 Billion in 2020 and is further projected to reach UD 12.35 Billion by 2027, at a CAGR of 4.1% during 2021-2027 (forecast period). The global cardiology defibrillators devices market is being driven by increasing cases of cardiac disorders among the general population, a significant move toward integrated technology, and increased awareness about cardiac health. Furthermore, hospitals as well as public spaces like schools, railways, hotels, etc., are installing more and more external defibrillators around their premises to deal with casualties of sudden cardiac arrests. This is coming up as a prominent factor behind the rising demand for cardiology defibrillators.

Source: BlueWeave Consulting

Global Cardiology Defibrillators Devices Sales Market - Overview

Cardiology defibrillators are devices that help restore heartbeat at the time of cardiac arrest by sending electric shock waves. Various external defibrillator devices are available in the market. These devices are very useful for high-risk patients who do not have pacemaker implantation operations and are always at risk of ventricular arrhythmia.

The problem of having a slow, fast or uneven heartbeat is known as ‘arrhythmia’. cardiology defibrillator devices are also used as a pacemaker for patients who do not have uniform heartbeats. But only newer defibrillators are embedded with this feature as of now. The demand for Automated External Defibrillators (AEDs) is rising as the government is installing more and more AEDs at public places for people experiencing sudden cardiac arrest.

Global Cardiology Defibrillators Devices Sales Market Forecast and Trends

Growth Drivers

Effective Outcomes of Implantable Defibrillators is Driving the Market Forward

Healthcare practitioners are increasingly recommending the use of an implantable defibrillator, which in turn is fueling the demand for these devices. Such devices are very useful in a situation when a patient is yet to get surgical implantation and is at high risk of having a cardiac arrest. Furthermore, defibrillators coming up in the market nowadays are more technologically advanced. They are compact in size and lighter in weight with better battery life. This makes it more convenient for patients to wear and increases the accuracy of shock detection.

The Alarming Population of Cardiovascular Diseases Will Further Propel the Market

High blood pressure, diabetes, obesity, and other factors contribute to an increased risk of cardiovascular disease in people. According to a report by the World Health Organization (WHO), cardiovascular diseases are taking around 17.9 million lives every year, being the leading cause of death. Due to this more and more patients are at risk of cardiac arrests and are suffering from arrhythmia. This is fueling the demand for cardiology defibrillators in the market. Furthermore, the population suffering from similar kinds of health issues are estimated to rise in upcoming years, further expanding the market.

Restraints

Lack of Awareness Surrounding Cardiac Arrest Obstructing Cardiology Defibrillators Devices Market Growth

The lack of awareness surrounding Sudden Cardiac Arrest (SCA) and how to effectively deal with this type of situation is currently the biggest problem facing cardiology defibrillators. The lack of knowledge about what to do and how useful external defibrillators are in situations like these is stifling the demand for cardiology defibrillators. Furthermore, the production of cardiology defibrillator devices is mainly in the hands of private players. Thus, they have complete autonomy over the prices of these devices. Due to this, patients are reluctant to opt for defibrillators, which is hampering the market growth.

Impact of COVID-19 on Global Cardiology Defibrillators Devices Sales Market

As soon as the COVID-19 virus emerged and a pandemic was announced, governments placed a lockdown to prevent the virus from spreading. People were made to work from their homes. As a result, people were compelled to stay at home. Thus, limited physical activity proved to be very harmful and damaging for the heart’s health. Furthermore, in such an unpredictable setting, the prevalence of mental disorders, which result in hypertension, increases cardiovascular risks. As a result, the International Liaison Committee on Cardiopulmonary Resuscitation (ILCOR) amended the resuscitation guidelines. It suggested that the healthcare workers should be trained to manage sudden cardiac arrests. Defibrillators were extremely important for reviving patients who had suffered spontaneous cardiac arrests during COVID-19, which led to an increase in demand for these devices.

Global Cardiology Defibrillators Devices Sales Market - By Product

Based on products, the global cardiology defibrillators devices sales market is segmented into Implantable Cardioverter Defibrillator (ICDs), external defibrillator, wearable cardioverter defibrillator (WCDS), advanced life support units, others. The Implantable Cardioverter defibrillator (ICDs) accounted for the largest market share in the year 2020. It is also estimated that this segment is further going to expand during the forecast period with a CAGR of 4.1%. ICDs will manage to have a high demand in the healthcare sector because of favorable government regulations and affordability. However, the demand for an external defibrillator is expected to rise in the upcoming years because of advanced technology and increasing investments from private players.

Global Cardiology Defibrillators Devices Sales Market - By End-User

Based on end-users, the market is segmented into hospitals & clinics, schools & other public spaces. For obvious reasons, the hospitals & clinic segment recorded the highest demand for the defibrillator, covering the overall revenue of USD 9.52 billion in the year 2020. The rising population with cardiovascular diseases all around the world has been the major factor behind the market growth of defibrillators. However, the need for defibrillators in schools and other public spaces is increasing in order to avoid severe situations in the event of any causalities occurring in those public spaces.

Global Cardiology Defibrillators Devices Sales Market - Regional Insights

Geographically, the global defibrillators market is segmented into North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa. North America dominated the market in the year 2020. The significant but alarming surge in cardiac diseases among most Americans is the leading cause for this dominance. According to a health report, cardiac arrest is the second leading cause of death in America. Furthermore, Europe is estimated to witness high demand for defibrillator devices during the forecast period with a CAGR of 4.1% owing to the rising prevalence of cardiac ailments.

Competitive Landscape

The key players in the global cardiology defibrillators devices sales market Physio-Control, Inc., Laerdal Medical Corporation, Cardiac Science Corporation, Defibtech, Medtronic Physio-Control Corporation, Philips Healthcare; Heartstream Division, Nihon Kohden Corporation, Cardiac Science, Inc. (formerly Survivalink Corp.), Biotronik, Stryker, LivaNova Plc, CU Medical System Inc., Abbott, and other prominent players.

In the cardiology defibrillator market, the quality and functioning of the product are very crucial as it is directly related to a person’s health and life. Therefore, companies are always working towards innovations and improvement of their products to stay ahead of their competitors. Moreover, the industry players are continuously adopting market strategies like partnerships, collaborations, acquisitions to expand their services. Even though the industry is dominated by giants due to consumer confidence in their efficiency, smaller businesses are emerging to establish a foothold in the market by establishing a brand reputation.

Recent Developments

• In April 2021, Northern Light Eastern Maine Medical Center, a US-based hospital, announced plans to offer lead extraction procedures to heart device patients at their center. This service will be available to patients with heart devices like implantable cardioverter defibrillators or pacemakers. This big step proves to be very beneficial to patients, otherwise, they will have to travel to larger cities for the lead removal.

• In April 2021, ZOLL medical corporations, a branch for medical device manufacturing and software solutions under Asahi Kasei company, announced its acquisition of Respicardia, Inc., a company that provides implantable neurostimulators. The purpose of this acquisition is to merge the experience and expertise of both the companies in the field of cardiac and respiratory care to improve patient’s health outcomes.

Scope of the Report

By Product (Value, USD Million: 2017-2027) 

• Cardioverter Defibrillator (ICDs)
• External Defibrillator
• Wearable Cardioverter Defibrillator (WCDs)
• Advanced Life Support Units
• Others

By End-user

• Hospitals and Clinics
• Schools and other Public Spaces

By Region

• North America
• Europe
• Asia-Pacific (APAC)
• Latin America (LATAM)
• Middle-East & Africa (MEA)    

1. Research Framework

1.1. Research Objective

1.2. Product Overview

1.3. Market Segmentation

2.    Research Methodology

2.1. Qualitative Research

2.1.1.   Primary and Secondary Sources

2.2. Quantitative Research

2.2.1.   Primary and Secondary Sources

2.3. Breakdown of Primary Research Respondents

2.3.1.   Secondary Research

2.3.2.   Primary Research

2.4. Breakdown of Primary Research Respondents, By Industry Participants

2.5. Key Questionnaire asked during Primary Interviews

2.6. Key Primary Responses

2.7. Market Size Estimation

2.8. Assumption for the Study

2.9. Market Breakdown & Data Triangulation

3.    Executive Summary

4.    Global Cardiology Defibrillators Devices Sales Market – Industry Insights

4.1. DROC Analysis

4.1.1.   Growth Drivers

4.1.2.   Restraints

4.1.3.   Opportunity

4.1.4.   Challenges

4.2. Recent Developments / Technical Landscape

4.3. Regulatory Framework

4.4. Porter’s Five Forces Analysis

4.5. Value Chain Analysis

4.6. Strategic Outlook

5.    Global Cardiology Defibrillators Devices Sales Market Overview

5.1. Market Estimates & Forecast by Value, 2017-2027

5.1.1.   By Value (USD Million)

5.2. Market Share & Forecast

5.2.1.   By Product (Value, USD Million: 2017-2027)

5.2.1.1. Cardioverter Defibrillator (ICDs)

5.2.1.2. External Defibrillator

5.2.1.3. Wearable Cardioverter Defibrillator (WCDs)

5.2.1.4. Advanced Life Support Units

5.2.1.5. Others

5.2.2.   By End-user

5.2.2.1. Hospitals and Clinics

5.2.2.2. Schools and other Public Spaces

5.2.3.   By Region

5.2.3.1. North America

5.2.3.2. Europe

5.2.3.3. Asia-Pacific (APAC)

5.2.3.4. Latin America (LATAM)

5.2.3.5. Middle-East & Africa (MEA)

6.    North America Cardiology Defibrillators Devices Sales Market Overview

6.1. Market Size and Forecast

6.1.1.   By Value (USD Million), 2017-2027

6.2. Market Share and Forecast

6.2.1.   By Product

6.2.2.   By End-User

6.2.3.   By Country

6.2.3.1. U.S.

6.2.3.2. Canada

7.    Europe Cardiology Defibrillators Devices Sales Market Overview

7.1.     Market Size and Forecast

7.1.1.   By Value (USD Million), 2017-2027)

7.2.     Market Share and Forecast

7.2.1.   By Product

7.2.2.   By End-User

7.2.3.  By Country

7.2.3.1.   Germany

7.2.3.2.   U.K.

7.2.3.3.   France

7.2.3.4.   Italy

7.2.3.5.   Spain

7.2.3.6.   Russia

7.2.3.7.   Netherlands

7.2.3.8.   Rest of Europe

8.    APAC Cardiology Defibrillators Devices Sales Market Overview

8.1.     Market Size and Forecast

8.1.1.   By Value (USD Million), 2017-2027)

8.2.     Market Share and Forecast

8.2.1.   By Product

8.2.2.   By End-User

8.2.3.   By Country

8.2.3.1.   China

8.2.3.2.   India

8.2.3.3.   Japan

8.2.3.4.   South Korea

8.2.3.5.   Rest of APAC

9.    LATAM Cardiology Defibrillators Devices Sales Market Overview

9.1.     Market Size and Forecast

9.1.1.   By Value (USD Million), 2017-2027)

9.2.     Market Share and Forecast

9.2.1.   By Product

9.2.2.   By End-User

9.2.3.   By Country

9.2.3.1.   Mexico

9.2.3.2.   Brazil

9.2.3.3.   Rest of LATAM

10.MEA Cardiology Defibrillators Devices Sales Market Overview

10.1.   Market Size and Forecast

10.1.1.                By Value (USD Million), 2017-2027)

10.2.   Market Share and Forecast

10.2.1.                By Product

10.2.2.                By End-User

10.2.3.                By Country

10.2.3.1.              Saudi Arabia

10.2.3.2.              UAE

10.2.3.3.              South Africa

10.2.3.4.              Rest of Europe

11.Competitive Landscape

11.1.1.                List of Key Producers and Their Offerings

11.1.2.                Market Share / Ranking Analysis (2020)

11.1.3.                Competitive Benchmarking, By Operating Parameters

12.COVID-19 Impact

12.1.             Future Impact

12.2.             Key Developments during COVID-19

12.3.             Impact on Market

12.3.1.                Different Scenario

12.3.2.                Impact on Companies

12.4.             Regional Impact

13.Key Strategic Recommendations

14. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

14.1.             ST. Jude Medical, Inc.

14.2.             Heartsine Technologies, Inc.

14.3.             Zoll Medical Corporation 

14.4.             Medical Research Laboratories, Inc.

14.5.             Sorin Group

14.6.             Boston Scientific Corporation

14.7.             Physio-Control, Inc.

14.8.             Laerdal Medical Corporation

14.9.             Cardiac Science Corporation

14.10.          Defibtech

14.11.          Medtronic Physio-Control Corporation

14.12.          Philips Healthcare; Heartstream Division

14.13.          Nihon Kohden Corporation

14.14.          Cardiac Science, Inc. (formerly Survivalink Corp.)

14.15.          Biotronik

14.16.          Stryker

14.17.          LivaNova Plc

14.18.          CU Medical System Inc.

14.19.          Abbott

14.20.          Other prominent players