Automated External Defibrillator Market
Number of pages: 100 | Report Format: PDF | Published date: February 28, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 710.8 million |
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Revenue forecast in 2030 |
US$ 1,340.12 million |
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Growth Rate |
CAGR of 7.3% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Historical Year |
2020 |
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Segments covered |
Type, Technology, Patient Type, End User, and Region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
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.
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 growth due to rising 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.
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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 CVDs. 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. Factors such as the increasing attention of public and private organizations on local access to defibrillators are likely to fuel market growth over the forecast period.
Moreover, increasing technological advancements in automated external defibrillator devices, a rapidly growing geriatric population at increased risk of targeted illnesses, and an increase in the prevalence of cardiac disorders are expected to upsurge the market development. Some key factors driving the market 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 installation of AEDs in public settings is occasionally prone to failure owing to issues with the battery, software, and hardware. This factor is likely to hinder market growth.
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
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Based on the type, the global automated external defibrillator market can be further bifurcated into wearable and non-wearable.
Throughout the projected period, revenue from the wearable AED 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 emergency. It allows clinicians adequate time to assess their patients' arrhythmic risk and develop appropriate treatment options. Thus, these all factors are responsible for the rising demand for wearable external defibrillators, thereby bolstering the global market growth.
Automated External Defibrillator Market by Technology
Based on the technology, the global automated external defibrillator market is further semi-automated and fully automated.
Sales from fully automated defibrillators are expected to grow rapidly throughout the predicted period. Fully automated devices are intended to assist reluctant emergency personnel in cardiac arrest cases. According to the study, these AEDs are safe & 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 the 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
The global automated external defibrillator market is further segmented based on the patient type into adult and pediatric.
The adult patient pool accounts for the largest share of the global market. The growth of this segment can be attributed to enormously growing cases of lifestyle-related diseases among the 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 also the growing patient base for cardiological diseases/disorders. Additionally, the growing geriatric population further contributes to the patient base growth, hence propelling the global market.
Automated External Defibrillator Market by Region
The global automated external defibrillator market has been segmented based on regions 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, enhancing the demand within the sector for defibrillators in North America and Europe.
Throughout the projection period, the European 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 proposed 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 enshrine the European legislative practice standards. AEDs are the type of medical device that is 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 any supporting workers.
Competitive Landscape
The prominent players operating in the global automated external defibrillator market are:
Strategic Development
The market size of the global automated external defibrillator industry is US$ 710.8 million and is estimated to grow at a revenue CAGR of 7.3% during the forecast period.
High prevalence of cardiovascular diseases, the growing elderly population, and increasing technological advancements are some factors driving the market 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.
Some of the key players operating in the automated external defibrillator market are Stryker Corporation, Koninklijke Philips N.V., Biotronik SE & Co. KG, Nihon Kohden Corporation, and Asahi Kasei Corporation among others.
*Insights on financial performance are subject to the availability of information in the public domain