North America Defibrillator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Implantable Cardioverter Defibrillator and External) and End User (Hospitals and Clinics, Prehospital Care, Public Access, Home Care Settings, and Alternate Care Facilities)
Market Introduction
The North America Defibrillator market has been segmented into the US, Canada, and Mexico. The US held the largest share of the North America Defibrillator market in 2021. Increasing adoption of technological advancements and rising research and development activities are projected to accelerate the growth of the Defibrillator market. Moreover, the presence of large healthcare businesses and the growing usage of Defibrillator is propelling the market's expansion in this region. The US is projected to be the largest market for defibrillators, the market is attributed due to multiple factors such as increase in cardiovascular disease, rising awareness about the presence of innovative defibrillators, presence of leading pharmaceutical companies in this region and presence of well-developed healthcare infrastructure. Moreover, in terms of technology, the nation is well ahead of other developed and emerging countries. Advances in technology have resulted in the development of various novel defibrillators and technologies that are used for their applications. Coronary artery disease is one of the leading causes of morbidity and mortality in well-matured countries. According to the Center for Disease Control research, one in four deaths were due to coronary artery disease. Coronary artery disease cost more than US$100 billion a year in human productivity. In addition, the study released by the American Heart Association in 2018 reports that one in three deaths were caused by cardiovascular disease. Approximately 2,300 Americans die of cardiovascular disease each year and an average of one death is recorded every 38 seconds. Almost 92.1 million adults in the US suffer from some form of cardiovascular disease. The indirect and direct costs of overall cardiovascular disease and stroke are estimated to total more than US$ 329.7 billion, including both health and productivity losses. The population of people aged 65 and up is predicted to increase between 2012 and 2050. This growth needs a greater understanding of the impact of cardiovascular diseases in the older adults. Along with this, the rising prevalence of the cardiac conditions among the people also contribute to defibrillator market growth. As per the American Heart Association's "Heart Disease and Stroke Statistics 2019”, around 121.5 million adults in the US are living with cardiovascular disease, and every year 805,000 Americans suffer from a heart attack. Additionally, according to the CDC, about 795,000 people in the U.S. suffer from cerebrovascular stroke every year. Therefore, the cost of the treatments increases for the patients. The indirect and direct cost associated with the total cardiovascular diseases and stroke are anticipated to entire more than US$ 329.7 billion which includes both health expenditures and productivity loss. Additionally, across the country heart disease and stroke are the first and fifth leading cause of death. Hypertension is major risk factor for the heart disease, strokes and cardiac arrests and is expensive in terms of lives lost and health outcomes, however it is greatly treatable. According to the Centers for Disease Control and Prevention statistics, in 2018 approximately 75 million adults across US lived with high blood pressure. The prevalence is expected to rise in the coming future and therefore, it is anticipated that the incidences of the cardiovascular is likely to increase in future. Also, the US is among the highly advanced countries which have various technologies available for the medical devices, the country is also involved in the research and development of the medical technologies.
In North America, the US was severely impacted by the emergence of the COVID-19 pandemic. The country has had the highest number of COVID-19 patients with over 68 million reported cases and more than 856,000 deaths as per data given by the US Department of Health & Human Services and CDC as of January 19, 2022.The US is going through another surge in COVID-19 cases due to the omicron variant of SARS-CoV-2, which is expected to peak by January-end, 2022. Mexico is going through its biggest COVID-19 wave and has been registering a massive surge in COVID-19 cases. Similarly, Canada has gone through a recent wave of COVID-19 with the total number of cases rising to over ~2.84 million and 32,000 deaths, as of January 20th, 2022. As the hospital admissions and pressure on the healthcare infrastructure rose, the demand for defibrillators and other medical devices increased owing to their importance in in-hospital resuscitation and in-home settings with implantable cardioverter?defibrillator. Initial assessments showed fast, abnormal heart rates as a symptom experienced by many COVID-19 patients, and therefore, various recommendations and bulletins were issued by the CDC and the American College of Cardiology warning patients about the potential risk for cardiac patients and encouraging the use of automated external defibrillators along with various other precautions. As people with heart conditions were at the highest risk of contracting SARS-CoV-2, the demand for defibrillators in hospitals peaked, which were needed to treat cardiac arrests in critically ill patients. Studies conducted by various authorities showed a rise in the importance of defibrillators in hospitals and an increase in the usage of defibrillators in other settings. Organizations such as the World Health Organization (WHO), CDC, and the American College of Cardiology emphasized the presence of defibrillators in hospitals as an essential tool for combating the disease. The International Liaison Committee on Resuscitation or ILCOR also updated their guidelines through focused defibrillation training to avoid compromising the care of the patient experiencing tachyarrhythmia arrests, which also protected the caregiver from exposure to the virus. A 2020 study titled “Implantable Cardioverter?Defibrillator Shocks During COVID?19 Outbreak” by Adabag et.al., used the Medtronic Carelink database during 2019–2020 to determine the incidence of implantable defibrillator shock episodes among patients residing in New York, New Orleans, and Boston. The study found a significant increase in defibrillator shock episodes during the COVID-19 pandemic compared to 2019. Another study published in 2021 titled “The Role of the Automated Implantable Cardioverter Defibrillator (AICD) for Secondary Prevention in the COVID-19 Era,” presented a case of COVID-19 in a New York City Hospital who rapidly developed sudden cardiac arrest after presenting to the emergency room. The study concluded by emphasizing the use of automated implantable cardioverter defibrillator (AICD) with subclinical cardiac injury in COVID-19 patients post-recovery showing an upward trend. The study recommended the use of AICD as a secondary preventive measure to prevent recurrence of SCA and sudden cardiac deaths. Various studies, rise in the number of COVID-19 cases, and emphasis laid down on the use of defibrillators as a preventive instrument in preventing cardiac arrests by various governmental and nongovernmental organizations showcased a positive impact on the defibrillator market with the application of defibrillators rising in hospitals and nonhospital.
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Market Overview and Dynamics
The defibrillator market in North America is expected to grow from US$ 4,575.28 million in 2021 to US$ 6,597.93 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028. Technological advancements; technological advancements and increased investments in defibrillators by private players are leading to significant future trends in the defibrillator market. In October 2020, Abbott Laboratories launched its new Gallant ICD and CRT-D that enable patient management and remote monitoring through smartphone connectivity and apps. Likewise, in June 2021, ZOLL improved its defibrillator management software, which was highly vulnerable to unrestricted file upload bugs, insecure password storage, and a privilege escalation issue. In September 2019, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. launched the BeneHeart C Series of AEDs with smarter operations and faster shock delivery to achieve better resuscitation outcomes for sudden cardiac arrest (SCA). This is bolstering the growth of the defibrillator market.
Key Market Segments
Based on product, the market is segmented into implantable cardioverter defibrillator (ICD) and external. In 2020, the implantable cardioverter defibrillator segment held the largest share North America defibrillator market. The implantable cardioverter defibrillator is further sub-segmented into transvenous ICD and subcutaneous ICD. The transvenous ICD segment accounts for largest market share in the 2020. Similarly, the external segment is sub-segmented into manual, wearable, and fully automated external defibrillators. In 2020, the manual segment held the largest share of the market. Based on end user, the North America defibrillator market is segmented into hospitals and clinics, prehospital care, public access, home care settings, and alternate care facilities. The hospitals and clinics segment held the largest share of the market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the defibrillator market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Abbott; Biotronik, Inc; Boston Scientific Corporation; Koninklijke Philips N.V.; Medtronic; Nihon Kohden Corporation; Shenzhen Mindray Biomedical Electronics Co., Ltd; and ZOLL MEDICAL CORPORATION among others.
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NORTH AMERICA DEFIBRILLATOR MARKET SEGMENTATION
- Implantable Cardioverter Defibrillator
- Transvenous ICD
- Subcutaneous ICD
- External
- Manual
- Fully Automated External Defibrillators
- Wearable
- Hospitals and Clinics
- Prehospital Care
- Public Access
- Alternate Care Facilities
- Home Care Settings
By Country
- US
- Canada
- Mexico
Company Profiles
- Abbott
- Biotronik, Inc
- Boston Scientific Corporation
- Koninklijke Philips N.V.
- Medtronic
- Nihon Kohden Corporation
- Shenzhen Mindray Biomedical Electronics Co., Ltd
- ZOLL MEDICAL CORPORATION
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Defibrillator Market – By Product
1.3.2 North America Defibrillator Market – By End User
1.3.3 North America Defibrillator Market – By Country
2. North America Defibrillator Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Defibrillator Market– Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.3 Experts Opinion
5. North America Defibrillator Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Prevalence of Cardiovascular Diseases
5.1.2 Rising Training and Awareness Programs on Cardiopulmonary Resuscitation and Automated External Defibrillators
5.2 Market Restraints
5.2.1 Cost and Performance Issues Related to Implantable and Automated External Defibrillators
5.3 Market Opportunities
5.3.1 Strategies by Major Market Players to Expand Presence
5.4 Future Trends
5.4.1 Technological Advancements
5.5 Impact Analysis
6. Defibrillator Market– North America Analysis
6.1 North America Defibrillator Market Revenue Forecast and Analysis
7. North America Defibrillator Market– by Product
7.1 Overview
7.2 North America Defibrillator Market, By Product, 2021 & 2028 (%)
7.3 Implantable Cardioverter Defibrillator
7.3.1 Overview
7.3.2 Implantable Cardioverter: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
7.3.3 Transvenous ICD
7.3.3.1 Overview
7.3.3.2 Transvenous ICD: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
7.3.4 Subcutaneous ICD
7.3.4.1 Overview
7.3.4.2 Subcutaneous ICD: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
7.4 External
7.4.1 Overview
7.4.2 External: North America Defibrillators Market Revenue and Forecasts to 2028 (US$ Million)
7.4.3 Manual
7.4.3.1 Overview
7.4.3.2 Manual: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
7.4.4 Fully Automated External Defibrillators
7.4.4.1 Overview
7.4.4.2 Fully Automated External: North America Defibrillators Market Revenue and Forecasts to 2028 (US$ Million)
7.4.5 Wearable
7.4.5.1 Overview
7.4.5.2 Wearable: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
8. North America Defibrillator Market– by End User
8.1 Overview
8.2 North America Defibrillator Market Share by End User - 2021 & 2028 (%)
8.3 Hospitals and Clinics
8.3.1 Overview
8.3.2 Hospitals and Clinics: North America Defibrillator Market– Revenue and Forecast to 2028 (US$ Million)
8.4 Prehospital Care
8.4.1 Overview
8.4.2 Prehospital Care: North America Defibrillator Market– Revenue and Forecast to 2028 (US$ Million)
8.5 Public Access
8.5.1 Overview
8.5.2 Public Access: North America Defibrillator Market– Revenue and Forecast to 2028 (US$ Million)
8.6 Home Care Settings
8.6.1 Overview
8.6.2 Home Care Settings: North America Defibrillator Market– Revenue and Forecast to 2028 (US$ Million)
8.7 Alternate Care Facilities
8.7.1 Overview
8.7.2 Alternate Care Facilities: North America Defibrillator Market– Revenue and Forecast to 2028 (US$ Million)
9. North America Defibrillator Market– Country Analysis
9.1 North America: Defibrillator Market
9.1.1 Overview
9.1.2 North America: Defibrillator Market, by Country, 2021 & 2028 (%)
9.1.2.1 US: Defibrillator Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.1.1 Overview
9.1.2.1.2 US: Defibrillator Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.1.3 US: Defibrillator Market, by Product, 2019–2028 (US$ Million)
9.1.2.1.3.1 US: Defibrillator Market, by Implantable Cardioverter Defibrillator, 2019–2028 (US$ Million)
9.1.2.1.3.2 US: Defibrillator Market, by External, 2019–2028 (US$ Million)
9.1.2.1.4 US: Defibrillator Market, by End User, 2019–2028 (US$ Million)
9.1.2.2 Canada: Defibrillator Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.2.1 Overview
9.1.2.2.2 Canada: Defibrillator Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.2.3 Canada: Defibrillator Market, by Product, 2019–2028 (US$ Million)
9.1.2.2.3.1 Canada: Defibrillator Market, by Implantable Cardioverter Defibrillator, 2019–2028 (US$ Million)
9.1.2.2.3.2 Canada: Defibrillator Market, by External, 2019–2028 (US$ Million)
9.1.2.2.4 Canada: Defibrillator Market, by End User, 2019–2028 (US$ Million)
9.1.2.3 Mexico: Defibrillator Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.3.1 Overview
9.1.2.3.2 Mexico: Defibrillator Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.3.3 Mexico: Defibrillator Market, by Product, 2019–2028 (US$ Million)
9.1.2.3.3.1 Mexico: Defibrillator Market, by Implantable Cardioverter Defibrillator, 2019–2028 (US$ Million)
9.1.2.3.3.2 Mexico: Defibrillator Market, by External, 2019–2028 (US$ Million)
9.1.2.3.4 Mexico: Defibrillator Market, by End User, 2019–2028 (US$ Million)
10. Impact Of COVID-19 Pandemic on North America Defibrillator Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Organic Developments
11.2.1 Overview
11.3 Inorganic Developments
11.3.1 Overview
12. Company Profiles
12.1 Medtronic
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Abbott
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Boston Scientific Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Koninklijke Philips N.V.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Biotronik, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 ZOLL MEDICAL CORPORATION
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Nihon Kohden Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Shenzhen Mindray Biomedical Electronics Co., Ltd.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Defibrillator Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. US Defibrillator Market, by Product– Revenue and Forecast to 2028 (US$ Million)
Table 3. US Defibrillator Market, by Implantable Cardioverter Defibrillator – Revenue and Forecast to 2028 (US$ Million)
Table 4. US Defibrillator Market, by External– Revenue and Forecast to 2028 (US$ Million)
Table 5. US Defibrillator Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Defibrillator Market, by Product– Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Defibrillator Market, by Implantable Cardioverter Defibrillator – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada Defibrillator Market, by External– Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada Defibrillator Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Defibrillator Market, by Product– Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: Defibrillator Market, by Implantable Cardioverter Defibrillator – Revenue and Forecast to 2028 (US$ Million)
Table 12. Mexico Defibrillator Market, by External– Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico Defibrillator Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 14. Organic Developments Done By Companies
Table 15. Inorganic Developments Done By Companies
Table 16. Glossary of Terms
LIST OF FIGURES
Figure 1. North America Defibrillator Market Segmentation
Figure 2. North America Defibrillator Market Segmentation, By Country
Figure 3. North America Defibrillator Market Overview
Figure 4. Implantable Cardioverter Defibrillator (ICD) Held the Largest Share of the Product Segment in North America Defibrillator Market
Figure 5. US to Show Significant Growth During Forecast Period
Figure 6. North America PEST Analysis
Figure 7. North America Defibrillator Market Impact Analysis of Drivers and Restraints
Figure 8. North America Defibrillator Market– Revenue Forecast and Analysis – 2020- 2028
Figure 9. North America Defibrillator Market, by Product, 2021 & 2028 (%)
Figure 10. Implantable Cardioverter: North America Defibrillator: Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
Figure 11. Transvenous ICD: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
Figure 12. Subcutaneous ICD: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
Figure 13. External: North America Defibrillators Market Revenue and Forecasts to 2028 (US$ Million)
Figure 14. Manual: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
Figure 15. Fully Automated External: North America Defibrillators Market Revenue and Forecasts to 2028 (US$ Million)
Figure 16. Wearable: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
Figure 17. North America Defibrillator Market Share by End User - 2021 & 2028 (%)
Figure 18. Hospitals and Clinics: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
Figure 19. Prehospital Care: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
Figure 20. Public Access: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
Figure 21. Home Care Settings: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
Figure 22. Alternate Care Facilities: North America Defibrillator Market Revenue and Forecasts to 2028 (US$ Million)
Figure 23. North America: Defibrillator Market, by Key Country – Revenue (2021) (US$ Million)
Figure 24. North America: Defibrillator Market, by Country, 2021 & 2028 (%)
Figure 25. US: Defibrillator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Canada: Defibrillator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Mexico: Defibrillator Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Impact of COVID-19 Pandemic in North American Country Markets
- Abbott
- Biotronik, Inc
- Boston Scientific Corporation
- Koninklijke Philips N.V.
- Medtronic
- Nihon Kohden Corporation
- Shenzhen Mindray Biomedical Electronics Co., Ltd
- ZOLL MEDICAL CORPORATION
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