Global Automated External Defibrillator Market to Grow with a CAGR of 7.04% through 2028
Rise in focus towards
public access defibrillator and rapidly growing geriatric population with
elevated risk of cardiac arrest is expected to drive the Global Automated
External Defibrillator Market growth in the forecast period, 2024-2028.
According to TechSci Research
report, “Global Automated External
Defibrillator Market - Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”,
the Global Automated External Defibrillator Market has valued at USD 1500.01
Million in 2022 and is anticipated to project steady growth in the forecast
period with a CAGR of 7.04% through 2028. The automated electronic defibrillator market is experiencing
significant growth driven by several key factors. These include the increasing
prevalence of cardiac diseases, a growing geriatric population, and notable
technological advancements in the field, supported by substantial investments
from market players. The increase in adoption of technologically advanced
defibrillator devices, along with the rise in demand for quality medical care,
and the prevalence of SCA, are key factors driving the growth of the external
defibrillators market. Additionally, the focus on installing defibrillators in
public places and the availability of defibrillators in offices, schools,
shopping malls, grocery stores, and airports are propelling market growth.
Moreover, the emphasis of key market players on public access defibrillators
and the implementation of training and awareness programs worldwide are
contributing factors to the growth of the external defibrillators market.
Furthermore, advancements in the innovation of next-generation external
defibrillators to enhance safety and effectiveness are anticipated to create
lucrative opportunities in the market. Defibrillators play a vital role in
improving industry capabilities by identifying and addressing device-related
issues. SCA, a life-threatening condition and the leading cause of death
globally, can be successfully treated through early intervention with
defibrillation.
According to data published
by the British Heart Foundation in August 2022, more than 7.6 million people in
the United Kingdom were living with heart or circulatory diseases in 2021. This
rising prevalence of cardiovascular diseases has led to an increased demand for
automated external defibrillators, ultimately fueling market growth during the
forecast period.
Furthermore, the rising
number of cardiovascular patients requiring surgical procedures is expected to
contribute to the demand for automated external defibrillators, further
bolstering market growth. According to the British Heart Foundation's data from
January 2022, nearly 284,000 people were awaiting time-critical heart
operations and other cardiac procedures by the end of November 2021. This surge
in cardiovascular surgeries underscores the need for automated external
defibrillators, driving market expansion.
Moreover, technological
advancements in the field and increased government support are propelling the
market's growth. As an example, in March 2021, the Government House in
Australia launched the St. John-branded public access defibrillator, an
automated external defibrillator (AED). This collaboration between St John
Ambulance Australia and Zoll Medical Australia highlights the commitment to
advancing AED technology.
The increasing number of
supportive policies by governments, regulatory bodies, and healthcare
organizations is expected to drive market growth during the forecast period.
For instance, the Social Affairs Commission of the Chamber in Italy approved
the proposed law on AEDs in July 2021, as reported by the IRC (Italian
Resuscitation Council). The law allocates approximately 10 million EUR (about
USD 11.36 million) for the implementation of public access AEDs over the next
five years, along with other provisions. In Australia, the government agency SA
Ambulance Service (SAAS) recommends early use of defibrillators to improve the
chances of survival. Both semiautomatic and automatic AEDs are recommended,
while manual defibrillators are reserved for trained professionals. AEDs are
also preferred over manual defibrillators in low acuity settings, such as
medical clinics and allied health and dental clinics, due to their
user-friendly nature.
Technological advancements
have resulted in compact and user-friendly modern external defibrillators,
requiring less maintenance and offering increased cost-effectiveness. In the
U.S., AEDs are priced between USD 900 and 2,000. AED USA offers the Zoll AED
Plus Fully Automatic defibrillators at USD 1,699, and the ZOLL AED three
semi-automatic at USD 1,895. Manual external defibrillators, on the other hand,
range from USD 1,000 to 25,000, according to the WHO. Emerging technology
trends in the market include advancements in personal AEDs for home use,
utilization of drones to enhance cardiac arrest response, solutions to improve
AED tracking, and the integration of IoT and analytics. Rapid Response Revival
Research Ltd, an Australian-based company, has developed the world's first
personal AED-CellAED-for home use. The device obtained CE Certification in May
2021, enabling the company to commercialize it across Europe.
Overall, the automated
external defibrillators market is poised for lucrative growth during the
forecast period, driven by the escalating burden of cardiovascular diseases and
the continuous launch of advanced automated external defibrillators. However, regulatory
constraints and a lack of awareness and early intervention measures regarding
sudden cardiac arrest may impede market growth in the coming years.
Browse over 26 market
data Figures spread through 91 Pages and an in-depth TOC on "Global
Automated External Defibrillator Market”
The Global Automated External
Defibrillator Market is segmented into product type, by end user, regional
distribution, and company.
Based
on product type, the fully automated external defibrillators market segment
currently dominates the global external defibrillators market by product type
and is projected to maintain its dominance during the forecast period. This can
be attributed to the growing initiatives by major companies, increased adoption
of defibrillators in healthcare facilities, and the implementation of various
public access defibrillation programs. On the other hand, the wearable
cardioverter defibrillator market segment is expected to experience significant
growth in the forecast period due to the rising prevalence of cardiovascular
disorders, the growing elderly population, and the user-friendly nature of this
non-invasive device.
Based
on region, North America segment is expected to grow during the forecast
period. North America has established a
significant market share in the external defibrillators sector in 2021 and is
projected to maintain its dominance throughout the forecast period. This can be
attributed to the increasing installation of external defibrillators in
hospitals as well as other public places such as hotels, schools, railway
stations, highways, and more. On the other hand, Asia-Pacific is expected to
exhibit the highest compound annual growth rate (CAGR) in the external
defibrillators market, driven by the growing prevalence of cardiovascular
diseases, rising disposable incomes in countries like India and China,
escalating healthcare costs, and recent advancements in healthcare
infrastructure.
Major companies
operating in Global Automated External Defibrillator Market
are:
- Koninklijke Philips N.V.
- Stryker
- Zoll Medical Corporation
- Nihon Kohden Corporation
- ProgettiSrl
- Schiller AG
- MS Westfalia GmbH
- Bexen Cardio
- Silverline Meditech Pvt. Ltd.
- Mediana Co., Ltd.
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“The rise in the incidence of Sudden Cardiac Arrest, as
well as the rise in the use of technologically improved defibrillators devices,
are significant drivers driving the growth of the external defibrillators
market. Furthermore, the increased emphasis on the installation of
defibrillators in public locations, as well as the availability of
defibrillators in workplaces, schools, shopping malls, grocery shops, and
airports, drive market expansion. Furthermore, an increase in leading market
players' focus on public access defibrillators and an increase in the number of
training and awareness programmes throughout the world are two factors driving
the growth of the external defibrillators market. Furthermore, developments in
the creation of next-generation external defibrillators to increase safety and
efficacy are expected to provide attractive market prospects.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Global
Automated External Defibrillator Market By Product
Type (Manual External Defibrillator, Fully Automated External Defibrillator,
Wearable Cardioverter Defibrillator), By End User (Hospitals, Pre-Hospitals,
Public Access Market, Alternate Care Market, Home), By Region, By Competition
Forecast & Opportunities, 2018-2028F”, has evaluated the future
growth potential of Global Automated External Defibrillator Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Automated External Defibrillator Market.
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