Number of pages: 100 | Report Format: PDF | Published date: February 28, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
According to the deep-dive market assessment study by Growth Plus Reports, the global automated external defibrillator market was valued at US$ 710.8 million in 2021 and is expected to register a revenue CAGR of 7.3% to reach US$ 1,340.12 million by 2030.
Automated External Defibrillator Market Fundamentals
An automated external defibrillator (AED) is a medical device that analyses a person’s heart rhythm, and in emergencies, it can be a great help in saving lives. When used appropriately, it can enhance a person’s chances of survival following (sudden cardiac arrest) SCA. Automated external defibrillators are commonly operated by qualified and well-skilled healthcare professionals, such as medical physicians, as well as emergency medical technicians (EMTs), and paramedics. The demand for automated external defibrillators has seen significant growth over the past decades and is one of the major trends in terms of market revenue growth due to the rising focus on targeted diseases. For instance, as per the 2019 World Bank Data, there were nearly 75 million adult patients (in the age group of 15 years and over) and 25 million pediatric patients (in the age group of 0-14 years) all over the world.
Automated External Defibrillator Market Dynamics
The global automated external defibrillator market is a major market with growing uptrends, such as rising cases of lifestyle-related illnesses, which include hypertension, obesity, dyslipidemia, and diabetes. High blood pressure levels further have a significant linear link with a growing patient base for cardiovascular diseases. For instance, according to American Heart Association research, in the United States, over 70% of patients who have had their first cardiovascular stroke, heart attack, or congestive heart failure have a blood pressure of higher than 140/90 mm Hg. Moreover, the increasing attention of public and private organizations on local access to defibrillators is likely to fuel market revenue growth during the forecast period.
Increasing technological advancements in automated external defibrillator devices, the rapidly growing geriatric population at higher risk of targeted illnesses, and the rising prevalence of cardiac disorders are expected to fuel market development in the next few years. Some key factors driving the market revenue growth include the rising incidence of cardiovascular disorders, such as coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other ailments globally.
However, problems associated with the usage of automated external defibrillators, such as the installation of AEDs in public settings, are occasionally prone to failure owing to issues with the battery, software, and hardware. This factor is likely to hinder market revenue growth.
Automated External Defibrillator Market Ecosystem
The global automated external defibrillator market has been analyzed from five perspectives: type, technology, patient type, end user, and region.
Automated External Defibrillator Market by Type
Based on the type, the global automated external defibrillator market can be further segmented into wearable and non-wearable.
Throughout the projected period, the wearable segment is estimated to account for the majority of the revenue share. A wearable external defibrillator (WED) is a non-invasive, external device majorly used to treat patients suffering from a heart attack during an emergency. It allows clinicians adequate time to assess their patients’ arrhythmic risk and develop appropriate treatment options. These factors are responsible for the rising demand for wearable external defibrillators, thereby bolstering global market revenue growth.
Automated External Defibrillator Market by Technology
Based on the technology, the global automated external defibrillator market is segmented into semi-automated and fully automated.
Sales of fully automated defibrillators are expected to grow rapidly during the forecast period. Fully automated devices are intended to assist reluctant emergency personnel in cardiac arrest cases. According to the study, these AEDs are safe and efficient, and they can reduce major delays caused by a reluctance to press the shock button during a rescue. Public Access Defibrillators (PADs) are fully automated devices. These medical devices can be widely used by patients who can hold the unit and follow the instructions due to the level of automation and guiding terminology. As a result, fully automated defibrillators are a viable choice for public usage.
Automated External Defibrillator Market by Patient Type
Based on the patient type, the global automated external defibrillator market is segmented into adult and pediatric.
The adult segment accounts for the largest revenue share of the global market. This growth can be attributed to enormously growing cases of lifestyle-related diseases among the adult population compared to pediatric patients. For instance, according to the 2021 WHO report, approximately 30% of all global deaths occur due to cardiovascular diseases, that account for 17.9 million deaths each year.
Automated External Defibrillator Market by End User
Based on the end user, the global automated external defibrillator market is segmented into emergency medical service centers, public access settings, homecare settings, hospitals, and others.
The emergency medical services providers segment registered for the largest revenue share in the global market in 2021. The growth of this segment can be majorly attributed to the rapidly growing incidences of cardiac arrest among the population and the growing patient base for cardiological diseases/disorders. Additionally, the rising geriatric population further contributes to the patient base growth, hence propelling the global market.
Automated External Defibrillator Market by Region
Based on region, the global automated external defibrillator market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
Due to the high prevalence of cardiovascular disorders, novel product launches, and emerging market competitors, North America is expected to dominate the automated external defibrillator market share during the forecast period. Installation of defibrillators in workplaces is a unique trend that has taken hold across the United States, thus, increasing the demand within the market for defibrillators in North America and Europe.
Throughout the projection period, the Europe market is predicted to grow at a consistent revenue CAGR. For instance, in Germany, around 100,000 people die from sudden cardiac death each year. Additionally, the proposals by the Italian Resuscitation Council to enhance Italy’s capacity to save lives from sudden cardiac arrest were enacted into law on July 28, 2021. The Italian parliament took Systems Saving Lives seriously and was the first to protect the European legislative practice standards. AEDs are the type of medical devices that are strictly kept at sporting events, infrastructure, and government facilities, according to the legislation, and AED and CPR training is needed in schools for students aged 10 to 18 as well as for any supporting workers.
Automated External Defibrillator Market Competitive Landscape
The prominent players operating in the global automated external defibrillator market are:
Automated External Defibrillator Market Strategic Developments
The global automated external defibrillator industry was valued at US$ 710.8 million in 2021.
The high prevalence of cardiovascular diseases, the growing elderly population, and increasing technological advancements are some factors driving the market revenue growth.
Asia Pacific is expected to be the fastest-growing region in the automated external defibrillator market
The lack of skilled professionals and problems associated with the usage of automated external defibrillators are some of the hurdles in market development.
Stryker Corporation, Koninklijke Philips N.V., Biotronik SE & Co. KG, Nihon Kohden Corporation, and Asahi Kasei Corporation are among the top market players.
*Insights on financial performance are subject to the availability of information in the public domain