Top Companies in the Global Defibrillator Market

The global defibrillator market was valued at USD 9.5 billion in 2023, driven by the rising burden of cardiovascular diseases and advancements in defibrillator technology across the globe. The market is expected to grow at a CAGR of 5.12% during the forecast period of 2024-2032, with the values likely to reach USD 14.9 billion by 2032.

A defibrillator is a medical device designed to offer an electrical charge to the heart that can bring back the heart’s abnormal rhythm to a normal rhythm. People prone to a life-threatening heart rhythm are generally recommended to use a wearable cardioverter defibrillator, which can sense an abnormal heart rhythm and send an electric shock. Some individuals use an implantable cardioverter defibrillator (ICD) to deliver a shock to the heart when needed.

The market for defibrillators is driven by the rising incidence of heart-related conditions such as cardiac arrhythmias, heart attacks, and sudden cardiac arrest. According to the American Heart Association, at least 6 in 10 adults in the United States, comprising 61% of the adult population or 184 million individuals are projected to develop some type of cardiovascular disease within the next 30 years. This increasing prevalence, propelled by the growing aging population and increase in risk factors associated with cardiovascular conditions, is expected to fuel the defibrillator market growth.

 
One of the significant market trends is the rising advancements in defibrillator technology including the development of compact and user-friendly automated external defibrillators. The introduction of smaller and lighter models is increasing the ease of use and portability of these devices. Further, modern defibrillators are equipped with real-time monitoring capabilities and predictive analytics, which is expected to bolster the market demand.

In January 2024, San Francisco-based digital health start-up Element Science announced that its digital wearable defibrillator called Jewel Patch Wearable Cardioverter Defibrillator (P-WCD) has received the European Union’s CE mark certification and Great Britain’s UK Conformity Assessed (UKCA) marketing approval. This device can continuously monitor heart rhythm and can provide a shock in response to arrhythmias such as ventricular tachycardia or ventricular fibrillation. The rising entry of innovative defibrillators, supported by the presence of a positive regulatory environment, is stimulating market expansion.

The market also benefits from the growing awareness about cardiac health and the importance of early defibrillation. This is leading to an increased use of automated external defibrillators (AEDs). Moreover, the rising government initiatives and funding to facilitate the installation of defibrillators in public spaces are some of the factors anticipated to bolster the market growth in the coming years.

Top Companies Leading the Global Defibrillator Market in 2024

1.    Medtronic PLC
 

Global medical device company Medtronic plc has a prominent presence in the market, offering a wide range of products such as implantable cardioverter defibrillators (ICDs) and external defibrillators. The company is known for integrating advanced technology into their defibrillators like remote monitoring capabilities and extended battery life. In October 2023, Medtronic’s Aurora EV-ICD MRI SureScan extravascular implantable cardioverter-defibrillator and Epsila EV MRI SureScan defibrillation lead was approved by the US Food and Drug Administration (FDA) to treat fast heart rhythms that may result in sudden cardiac arrest.

2.    Stryker Corporation
 

This American multinational medical technologies corporation operates as a medical technology company. It is known for its innovative external defibrillators, particularly in the automated external defibrillator (AED) segment which are designed for both professional and public use. Stryker’s series of defibrillators are integrated with advanced features such as user-friendly interfaces and real-time CPR guidance. In April 2024, the company previewed its next-gen LifePak 35 monitor/defibrillator at the Fire Department Instructors Conference (FDIC) in Indianapolis following the supplemental FDA approval. LifePak 35 is suitable for higher-end acute care professionals and features touch screens, WiFi and Bluetooth connectivity, and a weight reduction compared to the compared to the previous model.

3.    Koninklijke Philips N.V.
 

Koninklijke Philips N.V. (commonly known as Philips) is one of the leading players in the defibrillator market, known for its easy-to-use and reliable defibrillator systems that are widely in both clinical and public settings. Philips offers a range of automated external defibrillators (AED) including the popular HeartStart series with products such as HeartStart OnSite AED and the HeartStart FRx AED. Philips’ AED systems work on the Philips Quick Shock technology that enables a life-saving electric shock within 8 seconds of a CPR pause and thus are commonly deployed in police vehicles, schools, and offices.

 
4.    Boston Scientific Corporation

Boston Scientific Corporation, a multinational manufacturer of medical devices, has a strong portfolio of cardiovascular devices, including defibrillators. One of its innovative products is the EMBLEM™ Subcutaneous Implantable Defibrillator (S-ICD) s ystem that can be implanted subcutaneously without touching the heart or blood vessels. The company heavily invests in research and development to improve device efficiency and patient safety. For instance, in May 2024, the company reported positive six-month results from the ongoing pivotal MODULAR ATP clinical trial of the modular cardiac rhythm management (CRM) system called mCRM™ System. This innovative defibrillator technology is the first of its kind, comprising the EMBLEM™ Subcutaneous Implantable Defibrillator (S-ICD) System and the EMPOWER™ Leadless Pacemaker (LP).

5.    Nihon Kohden Corporation
 

Nihon Kohden Corporation, a leading manufacturer of medical electronics based in Japan, significantly contributes to the growth of the defibrillator market. The company is known for its Cardiolife AED series which is widely deployed for both public and professional use. Its Cardiolife TEC-5600 product line features AED providing faster electric shock and continuous observation along with Bluetooth data transfer and 3,6-lead ECG, among others.