External Defibrillators Market Size, Share, Trends And Forecast 2030

 

The global external defibrillators market size is anticipated to reach USD 6.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a notable CAGR of 9.3% from 2022 to 2030. The key factors driving the market growth include rising technological advancements, initiatives for promoting public access AEDs, and the incidence of sudden cardiac arrest. The COVID-19 pandemic increased awareness about defibrillation training and the use of external defibrillators in case of an adverse cardiac event, thus increasing demand for defibrillators. The pandemic also resulted in logistical bottlenecks and operational challenges.

According to the study published in Elsevier, Inc., the number of out-of-hospital cardiac arrests occurring in Paris and its suburbs almost doubled amid the pandemic, from March 16 to April 26, 2020. Such factors are expected to boost sales of external defibrillators. In addition, the International Liaison Committee on Cardiopulmonary Resuscitation (ILCOR) changed the resuscitation guidelines. The new rules suggested improving defibrillation delivery by providing training to healthcare workers, which can reduce confusion as well as the delay in COVID-19 resuscitation efforts. The training would also ensure that healthcare providers are not exposed to additional risks and patients suffering from tachyarrhythmia arrests can be provided the best chance of survival.

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/external-defibrillators-market-report

Increasing prevalence of the cardiovascular disease is a major driver for market growth. According to the WHO, in 2019, 17.9 million deaths occurred due to cardiovascular disease, which was estimated around 32% globally. Moreover, more than 75% of deaths occurred in middle- & low-income countries. According to American Heart Association, 390,000 sudden cardiac arrests were reported in 2018. Out of these, 65% of deaths occurred in people aged 75 & above, 6% deaths in the age group of 25 to 54 years, and 29% in the age group of 55 to 74 years. Owing to these factors, the demand for external defibrillators is anticipated to increase over the forecast period.

Despite developments in prevention and treatment, sudden cardiac death remains a leading cause of mortality and is accountable for nearly half of all deaths from cardiovascular ailments. The increasing prevalence of SCA and its associated risk factors are expected to increase the demand for AEDs. SCA is one of the leading causes of death around the globe. Moreover, it is the major cause of natural deaths in the U.S., resulting in about 325,000 adult deaths in the country every year. SCA is also responsible for half of all heart ailment deaths.

External Defibrillators Market Report Highlights

·         The market was valued at USD 2.9 billion in 2021 and is expected to expand at a CAGR of 9.3% during the forecast period

·         The manual external defibrillators segment held the largest revenue share of the market in 2021

·         The end-use segment, on the other hand, was dominated by hospitals as these register the highest patient volume thus requiring defibrillators as part of their cardiology units

·         North America dominated the market in 2021 due to the presence of key players and growing strategic initiatives deployed by these companies

·         For instance, in April 2019 Stryker launched LIFEPAK CR2 AED in the U.S., expanding its lineup of defibrillation solutions. The product connects to an AED program manager, LIFELINKcentral, to help an organization’s AED manager to monitor and manage device readiness issues remotely. When connected to Wi-Fi, the device also provides near real-time email alerts

·         Obesity and hypertension are also risk factors for SCA. Obesity continues to be a significant public health crisis. According to a study published online in Pediatrics, obesity rates among children significantly increased during the first few months of the COVID-19 pandemic

·         Around 80.0% of sudden cardiac deaths are linked to coronary heart disease. It is the most common type of heart disease, and as per CDC, approximately 18.2 million adults aged 20 and older suffer from this disease. Thus, AEDs are important because they increase the chance of survival. They can restore a normal heart rhythm in sudden cardiac arrest victims

Key Companies & Market Share Insights

The market for external defibrillators is competitive in nature. The market is highly fragmented, owing to the presence of several small as well as large players. This results in high competition among smaller players looking to sustain their position in the market. Moreover, companies are increasingly adopting strategies such as mergers and acquisitions, geographic expansion, and launch of new products to grow in the market. For instance, in April 2019 Stryker launched LIFEPAK CR2 AED in the U.S., expanding its lineup of defibrillation solutions. The product connects to an AED program manager, LIFELINKcentral, to help an organization’s AED manager to monitor and manage device readiness issues remotely. When connected to Wi-Fi, the device also provides near real-time email alerts. Some of the key players in the external defibrillators market include: Koninklijke Philips N.V., Stryker, Zoll Medical Corporation, an Asahi Kasei Group Company, Nihon Kohden Corporation, ProgettiSrl, Schiller AG, MS Westfalia GmbH, AMI Italia, Bexen Cardio, Silverline Meditech Pvt. Ltd., Mediana Co., Shenzhen Mindray Bio-Medical Electronics, CU Medical, BPL Medical Technologies, Corpuls, Dixion Vetrieb medizinischer Geräte GmbH, Bioevopeak Co., METsis Medikal, EMS Mobil Sistemler A.Ş., Metrax GmbH

Request Free Sample Report: https://www.grandviewresearch.com/industry-analysis/external-defibrillators-market-report