An increase in awareness among people to treat out-of-hospital cardiac arrest is the key factor driving market revenue growth
Market Size - USD 1,675.5 Million in 2021, Market Growth - at a CAGR of 8.3%, Market Trends - Increase product knowledge among people.
New York, September 26, 2022 - The global automated external defibrillator market size was USD 1,675.5 Million in 2021 and is expected to register a revenue CAGR of 8.3% over the forecast period, according to the latest report by Reports and Data. Rising demand for high-quality medical treatment, rising use of technologically improved defibrillator devices, and rising prevalence of Sudden Cardiac Arrest (SCA) are some factors expected to increase the demand for the automated external defibrillator, which in turn drives revenue growth of the market. Additionally, the availability of defibrillators at workplaces, schools, grocery shops, shopping malls, and airports and even growing emphasis on their installation in public areas drive market revenue growth.
Leading industry players are putting more focus on public access defibrillators, as well as more global awareness and training campaigns than ever before, which is driving up demand for automated external defibrillators. It is expected that a rise in the production of next-generation external defibrillators, which will improve their efficacy and, safety will create profitable market prospects. Defibrillators work to improve the industry's capacity for recognizing and solving device-related issues. SCA is a condition that poses a threat to life and is the most common cause of death across the globe. Defibrillation administered at the appropriate moment in the early stages of the disease can successfully treat it.
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Some Key Highlights From the Report
- Wearable segment revenue is expected to account for the largest revenue share over the forecast period. A Wearable External Defibrillator (WED) is a non-invasive, external device used to treat individuals who are at risk of Sudden Cardiac Arrest (SCA). It gives doctors enough time to analyze their patients' arrhythmic risk and make suitable plans. If a life-threatening cardiac rhythm is recognized, the device can give a therapy shock to restore normal heart rhythm.
- Fully automatic defibrillator segment revenue is expected to register a rapid revenue growth rate over the forecast period. Fully automatic devices are made to assist emergency personnel who might be hesitant in cardiac arrest situations. According to studies, fully automatic Automated External Defibrillators (AEDs) are safe, and efficient, and may shorten long delays caused by hesitation to press the shock button during a rescue. Public Access Defibrillators (PADs) are fully automatic devices.
- The hospitals and clinics segment is expected to register a rapid revenue growth rate over the forecast period, owing to the rising number of patients who visit hospitals, the adoption of new business strategies by major manufacturers, and the growing use of AED by hospitals.
- Market in North America is expected to register the largest revenue share over the forecast period. Every year, about 40,000 Canadians die as a result of a sudden heart attack. This equates to one person every 12 minutes and more than 100 people per day. AEDs will be more widely available to the general public according to Bill 141, the Defibrillator Registration and Public Access Act, 2020, which was approved by the Ontario legislature in June. This bill will save many lives. The bill is now being reviewed by the Ministry of Health to develop the required regulations. According to the American Heart Association (AHA), which estimates that more than 356,000 such incidents every year in the U.S., about 90% of cardiac arrests that take place outside of a hospital are deadly. 18,000 Americans have a shockable cardiac arrest outside of hospitals and in front of witnesses each year, according to a National Institutes of Health analysis. An estimated 1,700 lives are saved each year when bystanders shock the heart with an AED instead of waiting for emergency help. According to the AHA, 9 out of 10 cardiac arrest patients who get an AED shock within the first minute survive. AED demand is expected to be driven by rising awareness of defibrillators and Canada's rising incidence of cardiovascular disorders.
- Companies profiled in the market report are Koninklijke Philips N.V., Physio-Control, Inc., Nihon Kohden Corporation, Asahi Kasei Corporation, Mediana Co., Ltd., Kestra Medical Technologies, Inc., BPL Medical Technologies, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., ViVest Medical Technology Co., Ltd, and ZOLL Medical Corporation.
For the purpose of this report, Reports and Data has segmented the global automated external defibrillator market based on type, technology, end-use, and region:
Type Outlook (Revenue, USD Million; 2019-2030)
Technology Outlook (Revenue, USD Million; 2019-2030)
- Semi-Automatic Defibrillator
- Fully Automatic Defibrillator
End-Use Outlook (Revenue, USD Million; 2019-2030)
- Hospitals and Clinics
- Specialized Cardiovascular Disease Treatment Centers
- Ambulatory Surgery Centers
Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA