Defibrillator Market - Growth, Trends, and Forecasts (2020 - 2025)

The growth of the defibrillator market can be attributed to factors, such as technological advancements in the field of defibrillators and training and awareness programs for defibrillators. Recently, in 2020, Abbott Laboratories received a CE mark for its product "Gallant". It is an implantable cardioverter defibrillator (ICD) used in the prevention of sudden cardiac rhythm. Furthermore, the growing burden of cardiovascular diseases is expected to impact market growth.

According to the World Health Organization, in 2017, cardiovascular diseases were the leading cause of death, causing around 17.9 million deaths every year, globally. Hence, the increase in the prevalence of cardiovascular diseases is expected to drive market growth.

In the United States, approximately 300,000 out-of-hospital cardiac arrests occur, annually. Supportive government policies in developed countries may help increase the availability and access of defibrillators, which may further boost the market growth, over the forecast period.

Key Market Trends

Implantable Cardioverter Defibrillator (ICD) Spearheaded the Market Studied

• The implantable cardioverter defibrillator (ICD) segment accounted for the largest share in the global market. The ICDs are of three major types, namely transvenous ICDs, subcutaneous ICDs, and CRT with pacemaker and ICD function.
• The transvenous and subcutaneous ICDs are expected to exhibit the fastest growth rate over the forecast period, owing to the rising technological advancements, increasing R&D, and benefits associated with these ICDs. According to the European Heart Journal, 2019, implantable cardioverter-defibrillator (ICD) is considered as an important device for the treatment of sudden cardiac death (SCD) prevention and ventricular tachyarrhythmias.
• Moreover, according to the Australian Institute of Health and Welfare, in 2017, approximately 4,578 people died, due to heart failure and cardiomyopathy. Hence, the growing morbidity and mortality of cardiovascular diseases and the efficacy of these devices to manage arrhythmias for a prolonged period are expected to drive the segment's growth, over the forecast period.

North America is Expected to Dominate the Market Studied

• In North America, the United States is expected to hold the major market share. This is mainly due to factors, such as increasing number of diseases.
• Cardiovascular diseases, listed as the underlying cause of death, account for nearly 836,546 deaths (about 1 of every 3 deaths) in the United States. The increasing prevalence of cardiovascular diseases in the region is expected to drive the market growth, over the forecast period.
• In 2017, the Department of Health and Human Services (HHS), along with a number of public and private partners, launched the Million Hearts initiative that aims to prevent one million heart attacks and strokes.
• According to the American Heart Association's research program, cardiovascular diseases are listed as the primary cause of deaths and accounted for nearly 836,546 deaths in the United States. The deaths related to cardiovascular diseases are higher when compared to deaths related to all forms of cancer and chronic lower respiratory diseases combined.
• Therefore, the aforementioned factors are expected to boost the market growth.

Competitive Landscape

The major players operating in the defibrillators market are Boston Scientific Corporation, Koninklijke Philips NV, Medtronic PLC, Nihon Kohden Corporation, and Abbott Laboratories. The key strategies adopted by the major market players are mergers, acquisitions, new product developments, geographical expansions, and enhanced marketing strategies.

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TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Deliverables
• 1.2 Study Assumptions
• 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Increasing Prevalence of Cardiovascular Diseases
  • 4.2.2 Technological Advancements in the Field of Defibrillators
• 4.3 Market Restraints
  • 4.3.1 High Costs of Defibrilators
  • 4.3.2 Stringent Regulatory Framework
• 4.4 Industry Attractiveness - Porter's Five Forces Analysis
  • 4.4.1 Threat of New Entrants
  • 4.4.2 Bargaining Power of Buyers/Consumers
  • 4.4.3 Bargaining Power of Suppliers
  • 4.4.4 Threat of Substitute Products
  • 4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

• 5.1 By Product
  • 5.1.1 Implantable Cardioverter Defibrillator (ICD)
    • 5.1.1.1 Transvenous Implantable Cardioverter Defibrillator (T-ICDs)
    • 5.1.1.2 Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs)
    • 5.1.1.3 CRT with Pacemaker and ICD Function (CRT-D)
  • 5.1.2 External Defibrillator (ED)
    • 5.1.2.1 Automated External Defibrillator (AEDs)
    • 5.1.2.1.1 Semi-automated External Defibrillators
    • 5.1.2.1.2 Fully-automated External Defibrillators
    • 5.1.2.2 Manual External Defibrillator
    • 5.1.2.3 Wearable Cardioverter Defibrillators (WCDs)
• 5.2 By End User
  • 5.2.1 Hospitals
  • 5.2.2 Emergency Care
  • 5.2.3 Home Care
  • 5.2.4 Other End Users
• 5.3 Geography
  • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Mexico
  • 5.3.2 Europe
    • 5.3.2.1 United Kingdom
    • 5.3.2.2 Germany
    • 5.3.2.3 France
    • 5.3.2.4 Italy
    • 5.3.2.5 Spain
    • 5.3.2.6 Rest of Europe
  • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 Japan
    • 5.3.3.3 India
    • 5.3.3.4 Australia
    • 5.3.3.5 South Korea
    • 5.3.3.6 Rest of Asia-Pacific
  • 5.3.4 Middle-East and Africa
    • 5.3.4.1 GCC
    • 5.3.4.2 South Africa
    • 5.3.4.3 Rest of Middle-East and Africa
  • 5.3.5 South America
    • 5.3.5.1 Brazil
    • 5.3.5.2 Argentina
    • 5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE

• 6.1 Company Profiles
  • 6.1.1 Abbott Laboratories
  • 6.1.2 Boston Scientific Corporation
  • 6.1.3 Cardiac Science Corporation
  • 6.1.4 Defibtech LLC
  • 6.1.5 Koninklijke Philips NV
  • 6.1.6 LivaNova PLC
  • 6.1.7 Medtronic PLC
  • 6.1.8 Nihon Kohden Corporation
  • 6.1.9 Physio-Control Inc.
  • 6.1.10 ZOLL Medical Corporation

7 MARKET OPPORTUNITIES AND FUTURE TRENDS