Defibrillator Market Size, Share, Growth Analysis, By Product(Implantable Cardioverter Defibrillators (ICD), and External Defibrillators (ED)), By End-User(Hospital, Pre-Hospital, Public Access Market, Alternate Care Market), By Region - Industry Forecast 2024-2031

Defibrillator Market size was valued at USD 12.76 Billion in 2022 and is poised to grow from USD 13.68 Billion in 2023 to USD 23.86 Billion by 2031, at a CAGR of 7.20% during the forecast period (2024-2031).

Increasing product advancements, an increase in the incidence of sudden cardiac arrest, more public awareness, and supportive actions by government and healthcare organizations are some of the important drivers driving the growth of this market. Rapid Response Revival Research Ltd., an Australian firm, got a CE certification in 2021 for their CellAED, the world's first personal AED for home use. This aided the company's expansion strategy.

Despite advances in prevention and treatment, deaths from sudden cardiac arrest account for roughly half of all cardiovascular disease mortality. This is expected to spur market innovation while raising demand of both ICDs and outside Defibrillators Ami Italia, for example, produces a variety of defibrillators as a component of its Saver One, Geo Saver, and Smarty Saver line. The Smarty the Series, for instance, can be utilized in a variety of contexts, including emergency vehicles, emergency rooms, and both public and private areas, by anyone in medical & non medical fields. Microport, on the opposite hand, is the market leader in China's cardiac rhythm management market. Due to a diverse portfolio and a robust product pipeline, it increased revenue by 95% in the Chinese market during H1 2022.

Growing awareness of cardiovascular drugs in markets that are developing is another significant market driver. However, the existence of local wholesalers and increased measures to raise cardiac health awareness are projected to contribute to market growth in the next few years. The Dubai Corporation for Ambulance Services (DCAS) stated in 2022, that it would provide 80 AEDs to various places of worship, business and government entities, and other sites throughout the city, in addition to training selected volunteers. This was one of the programs This Town Saves Now programmed, which aimed to build and link a network of trained volunteers using DCAS' Help Me app.