Cardioverter Defibrillator Device Market Size, Share, Growth Analysis, By Type(implantable cardioverter defibrillators, external cardioverter defibrillators), By End use(hospitals, pre-hospital, public access market, alternative care), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2207 |
Region:
Global |
Published Date: February, 2024
Pages:
224
|Tables:
64
|Figures:
75
Cardioverter Defibrillator Device Market Insights
Cardioverter Defibrillator Device Market was valued at USD 13.79 billion in 2022, and is poised to grow from USD 14.78 billion in 2023, to USD 25.78 Billion by 2031 at a CAGR of 7.20% during the forecast period (2024-2031).
Cardioverter defibrillator is the electronic device that is used in the treatment of sudden cardiac arrest as well as arrhythmia. The global market growth is attributed to increasing product development, growing awareness among the general public, increasing prevalence of sudden cardiac arrest, and initiatives by governments and healthcare organizations. Smoking, sedentary lifestyle, and obesity are the factors responsible for cardiac arrest. In emerging countries such as China, India, and Brazil there is an increasing prevalence of cardiac arrest which is expected to propel the market growth.
US Cardioverter Defibrillator Device Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
implantable cardioverter defibrillator
Fastest Growth
external cardioverter defibrillators
Growth Rate
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Cardioverter Defibrillator Device Market Segmental Analysis
The cardioverter defibrillator devices market is segmented into type, end user, and region. Based on type, the global market is segmented into implantable cardioverter defibrillators and external cardioverter defibrillators. Based on end-user, the global market is segmented into hospitals, pre-hospitals, public access market, alternative care, and home. By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Cardioverter Defibrillator Device Market Analysis by Type
Based on type, the global market is segmented into implantable cardioverter defibrillator and external cardioverter defibrillator. Implantable cardioverter defibrillator is further segmented into transvenous implantable cardioverter defibrillator (T-ICDs), subcutaneous implantable cardioverter defibrillator (S-ICDs), and cardiac resynchronization therapy defibrillator (CRT-D). External cardioverter defibrillator is further segmented into manual external defibrillator, automated external defibrillator (AEDs), and wearable cardioverter defibrillator (WCDs).
The implantable defibrillator segment is expected to dominate the global market over the forecast period due to increasing geriatric population, emergence of new technologies, and increasing adoption of S-ICDs, and increasing prevalence of sudden cardiac arrest.
The external defibrillator is expected to have considerable growth over the forecast period due to advancement in technology in the healthcare sector and increasing adoption of external defibrillators installation.
Cardioverter Defibrillator Device Market Analysis by End-user
Hospital segment is expected to dominate the global market. The market growth is attributed to the increasing number of cardiac patients admitted in hospitals and the surgeries performed in hospital settings. In hospitals, for treating cardiac arrest patients both ICDs and external defibrillators are used increasingly.
Alternative care segment is expected to have considerable growth during the forecast period due to rising demand for early diagnosis initiatives taken by government or private organizations for development of alternative care.
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Cardioverter Defibrillator Device Market Regional Insights
North America is expected to hold the largest market share during the forecast period due to initiatives taken by key players, favorable regulations, and advanced technological facilities in the U.S and Canada.
In 2020, Bostan Scientific distributed about 33,000 CRT-Ds line up that include Resonate, Autogen, Dynagen, Incepta, and Cognis devices worldwide. Out of these, 16,500 were registered in the U.S alone indicating high adoption rate.
Asia Pacific region is projected to expand at the fastest CAGR during the forecast period. The market growth is attributed to the developing healthcare infrastructure, high patient population, and prevalence of cardiac diseases. regional growth is fast due to the Japanese market having high penetration of defibrillators and supportive policies
- Largest
- Fastest
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Cardioverter Defibrillator Device Market Dynamics
Cardioverter Defibrillator Device Market Drivers
Increasing Technological Advancement in defibrillator
- Defibrillators have improved in terms of cost, size reduction, and ease of operation. The advancement in technology is as follows- automated external defibrillator (AED) and implantable cardioverter defibrillator (ICD). These devices are effective in controlling cardiac attack conditions. Due to technological advancements in defibrillators, the operating defibrillator has become easy for an observer post-induction of proper training.
- The growing prevalence of cardiovascular diseases such as arrhythmias and heart failure are expected to contribute to the market demand. According to WHO, cardiovascular diseases are leading causes for global deaths.
Cardioverter Defibrillator Device Market Restraints
High Costs of Defibrillators and Lack of Skilled Professionals to Impede the Market Growth
- Cardioverter defibrillators are highly expensive and cost barriers can occur for patients belonging to low-income group. Also, with a limited healthcare budget, these devices are likely to witness a low rate of adoption in the coming years.
- Lack of skilled professionals such as electrophysiologists, cardiologists, and cardiac surgeons are likely to create a reduce adoption of heart defibrillators
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Cardioverter Defibrillator Device Market Competitive Landscape
Global cardioverter defibrillator devices market is highly competitive. Implantable cardioverter defibrillator key market players are Medtronic PLC, Abbott Laboratories, and Boston Scientific Corporation. Koninklijke Philips N.V., Cardiac Science Corporation, and Zoll Medical Corporation are leading the external defibrillator market. Key players undergo mergers and acquisitions to produce innovative products. They also focus on strengthening their position in the global market.
Cardioverter Defibrillator Device Market Top Company Profiles
- Medtronic PLC
- Abbott Laboratories
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
- LivaNova PLC
- Stryker Corporation
- Koninklijke Philip N.V.
- Cardiac Science Corporation
- Zoll medical corporation
- Nihon Kohden Corporation
- Progetti Srl
- Fukuda Denshi Co.
- Schiller AG
Cardioverter Defibrillator Device Market Recent Developments
- In June 2020, ZOLL Medical Corporation, an Asahi Kasei Group Company received premarket approval for its ZOLL AED 3 defibrillator with enhanced real CPR help, integrated child rescue, and wireless connectivity.
- In 2020, the US FDA approved leadless defibrillator for heart patients. This device can be implanted directly into the heart and does not require any non-invasive surgeries.
Cardioverter Defibrillator Device Key Market Trends
- Smart Pacemaker to Elevate Market Demand: Smart pacemaker is a device that can detect even the smallest irregularity in the functioning of the heart. Smart pacemakers rectify the abnormalities in the heart and re-establish normal body function. It also alerts the patients as well as physicians about the patient's cardiac health. This feature of the smart pacemaker helps to decrease the mortality rate.
- Increasing emphasis on product customization: With technological advancements and growing demand for customization, manufacturers are offering innovative products that can be customized according to patient needs
Cardioverter Defibrillator Device Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to the global cardioverter defibrillator devices market analysis, the market growth is attributed to increasing sudden cardiac arrest patients, and government investment in R&D to produce innovative products. The implantable cardioverter defibrillator segment dominates the market because it is widely used by the healthcare sector. North America leads the global market due to the presence of technological advancement.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 13.79 billion |
| Market size value in 2031 | USD 25.78 Billion |
| Growth Rate | 7.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cardioverter Defibrillator Device Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cardioverter Defibrillator Device Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cardioverter Defibrillator Device Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cardioverter Defibrillator Device Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cardioverter Defibrillator Device Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cardioverter Defibrillator Device Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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