Defibrillators are medical devices that defibrillate or stabilize a person’s heartbeat when they have ventricular tachycardia or arrhythmias (an irregular heartbeat) (a heart rhythm disorder). People who have experienced sudden cardiac arrest can be revived with automated external defibrillators (AEDs). People suffering from sudden cardiac arrest, a dangerous heart ailment, can be treated with the help of portable, life-saving AEDs. The electrical system of the heart is usually the cause of cardiac arrests.
The market worth of automated external defibrillators in 2021 was USD 1.71 billion, and it will be worth USD 3.68 billion by 2030, growing at an 8.77% CAGR during the forecast period.
The rising incidence of cardiac disorders, the growing elderly population, scientific advances in the area, and increased market participant investment are the main drivers of the automated electronic defibrillator market expansion.
Market Dynamics
Drivers
The rising rate of lifestyle disorders, including hypertension, is the major of the cardiovascular arrest. Globally, 1.28 billion persons aged 30 to 79 had hypertension as of 2021, according to data on the condition supplied by the World Health Organization (WHO). A sudden heart attack is more likely to occur as a result of high blood pressure. A study also found that 46% of adult hypertensives were unaware of their condition, which increases the risk of cardiac arrest.
Restraints
Hardware, software, and battery issues may cause therapy to be postponed, which would hinder market expansion overall.
Opportunity
Due to advancements in technology and new product development, market participants are introducing new products at affordable prices. AEDs will offer several chances for market expansion in the future since they can reduce the high death rate associated with out-of-hospital cardiac arrests.
Market Segmentation
Type Insights
On the basis of type, the market is segmented into fully automated defibrillators and semi automatic defibrillator.
The fully automated defibrillator will account for more than 80% of market revenue by 2030. The simplicity of using fully automatic AEDs versus semi-automatic machines is driving the growth of this market segment. Additionally, the fully automatic machines minimize the long delays caused by pressing the shock button on a semi-automated device.
End-user Insights
On the basis of end-user, the market for automated external defibrillators is segmented into hospitals and clinics, ambulatory surgery centers, and specialized cardiovascular disease treatment centers.
Hospitals and clinics maintained the largest position in the market for external defibrillators because of the high demand for implanting ICDs in hospitals, which has been driving the expansion of this industry.
Regional Insights
In 2021, North America was the largest regional market, with a revenue share of 60%. The US is the primary driver of regional expansion. Due to the frequency of cardiovascular disorders, the introduction of new products, and the presence of major market participants in the US, the market for automated external defibrillators is expanding. Per data from the American Heart Association released in January 2019, nearly half of all Americans have a cardiovascular condition, such as hypertension or coronary heart disease, which will increase the number of cardiovascular patients in the nation and fuel market expansion.
As a result of China and Japan, the Asia-Pacific regional market is expanding quickly. The market for automated external defibrillators (AEDs) will rise as a result of China’s changing lifestyle and work patterns, as well as increased interest in and knowledge of AEDs in the workplace. The central government of China, working with the provinces, is anticipated to increase access to automated external defibrillators (AEDs) across the nation due to the rising prevalence of cardiovascular disorders and cases of unexpected cardiac fatalities. By employing AEDs in dire situations, this initiative seeks to minimize the death rate related to cardiac arrests.
Key Players
- Nihon Kohden Corporation
- Schiller AG
- Stryker Corporation
- Asahi Kasei Corporation (Zoll Medical Corporation)
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd
- Koninklijke Philips NV
- BPL Medical Technologies Pvt. Ltd
- CU Medical System Inc.
- Mediana Co. Ltd
- ViVest Medical
The market worth of automated external defibrillators in 2021 was USD 1.71 billion, and it will be worth USD 3.68 billion by 2030, growing at an 8.77% CAGR during the forecast period. The rising incidence of cardiac disorders, the growing elderly population, scientific advances in the area, and increased market participant investment are the main drivers of the automated electronic defibrillator market expansion. The prevalence of sedentary lifestyles and the rise in the world’s geriatric population are other factors that contribute to the increase in cardiovascular disease incidence.
