Defibrillator Market Will Nearly Double in Value by 2030

The global defibrillator market is set to skyrocket this decade as the world’s population continues to age and cardiac-related conditions rise among younger age groups. 

Straits Research predicts the market to balloon 86.6% over the next eight years, expanding from $11.3 billion in 2021 to $21.09 billion by 2030. The compound annual growth rate for that time frame is forecast at 7.18%. In 2021, the revenue share held by North America was the highest, at more than 40% of total revenue.

Defibrillators administer a therapeutic shock to the heart in life-threatening circumstances such ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia. A defibrillation treatment depolarizes the heart’s muscles and restores its normal electrical impulse. External defibrillators use paddles or electrode pads to diagnose and fix abnormal heart rhythms during cardiac arrest. Automated external defibrillators (AEDs) can be manual or portable (WCDs). 
 
Increasing public and private interest in public access defibrillators (PADs) has fueled its growth. AED market drivers include the world’s aging population—which has a higher risk of cardiac arrest and heart disease—and an increased prevalence of cardiac-related problems across age groups due to demanding jobs, sedentary lifestyles, cigarettes, alcohol, and substance misuse. Pricing pressure, however, is stifling the overall defibrillator market. 
 
A January 2020 article in the International Journal of Stroke stated the worldwide prevalence of atrial fibrillation—37,574 million cases (0.51% of the global population)—increased 33% over the last 20 years. According to this analysis, the number of patients with atrial fibrillation could climb by 60% by 2050. Growing arrhythmia burden may enhance market growth through 2030.
 
The aging population is another industry driver. According to the U.N. Department of Economic and Social Affairs, the number of individuals aged 65 and older worldwide will climb from 727 million to 1.5 billion by 2050. The population over 65 is expected to climb from 9.3% in 2020 to 16% in 2050.
 
Increased public AED use is also driving market expansion. More train stations, schools and universities, shopping centers, airports, malls and leisure facilities are installing the device as people learn about its life-saving powers. In a medical emergency, anyone can use public access defibrillators (PADs). As sudden cardiac arrest (SCA) instances rise, many countries are installing PADs in public spaces.
 
Due to developments in next-generation defibrillators, the defibrillators market is likely to rise faster than expected. These defibrillators assist, detect, and address device-related issues. Due to rising use by heart failure patients worldwide, AEDs lead the global external defibrillators market, which is expected to grow at the fastest rate in the future. As more AEDs become accessible, so has demand. Manual external defibrillators are second only to wearables. 
 
North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa make up the defibrillator market.
 
North America held almost 40% of overall revenue in 2021. Favorable laws, important company activities, and technologically advanced healthcare facilities in the United States and Canada all contributed to the market’s growth in North America. In 2020, Boston Scientific sold 33,000 CRT-Ds, including Resonate, Autogen, Dynagen, Incepta, and Cognis. 16,500 were registered in the United States alone, indicating a high adoption rate. According to the CDC’s September 2021 report, 659,000 Americans die from heart disease per year and 805,000 have a heart attack, of which 605,000 had their first and 200,000 had already suffered one. This high heart attack rate is expected to drive U.S. market growth. 
 
Asia Pacific’s CAGR is expected to be 7.88% through 2030. This is due to improvements in healthcare infrastructure, more patients, and cardiovascular illnesses. Due to high defibrillator penetration and favorable regulation, Japan has led regional expansion. Nihon Kohden, a Japanese industry leader, forecasts 2020 manual external defibrillator sales of more than $66,000.