The global automated external defibrillator market was valued at $1,476.0 million in 2018 and is projected to reach $3,991.5 million by 2030, progressing at a CAGR of 8.8% during the forecast period (2020–2030). Based on product type, the non-wearable category is expected to witness faster growth, with a CAGR of 8.9%, during the forecast period, owing to the fact that non-wearable AEMs are portable in nature and easy to use during cardiac arrest situation.
Growing Focus on Installation of Automated External Defibrillator (AEDs) in Public Places is a Key Trend in AED Market
With the growing awareness about life-saving potential of AEDs in case of emergencies, the installation of these devices is increasing in public places, such as railway stations, schools and colleges, shopping centers, airports, malls, and leisure centers. These devices are also known as public access defibrillators (PADs), as these can be used by anyone during an emergency.
Several organizations in the U.S. are taking initiatives to install PADs in their vicinities in light of the growing number of sudden cardiac arrest (SCA) in their communities. For instance, in February 2016, the Sudden Cardiac Arrest Foundation, a national community-benefit organization in the U.S., granted funds to several schools for the procurement of AEDs through its “You Can Save a Life at School AED Grant” program. Besides, Coles Group, an Australian retailer, partnered with the Heart Foundation in June 2019, to roll out AEDs to all of its supermarkets across Australia, to provide rapid aid to customers and team members suffering from SCA.
Market for AEDs is Likely to Witness Significant Progress Due to Advancement in AED Technology
It has been observed that the rapid advancement in AED technology by key players is helping to increase the product launches and awareness of people about usage of AED devices, which in turn, driving the AED market. Several advancements have been reported in the defibrillation technology over the past few decades. For instance, ZOLL Medical Corporation’s LifeVest is a lightweight wearable defibrillator that can be worn by patients who are at risk of SCA. LifeVest continuously monitors the patient’s heart. In case of detection of an abnormal heart rhythm, the device delivers a shock treatment to restore the normal heart rhythm. Unlike conventional counterparts, modern implantable cardioverter-defibrillator (ICDs) have eliminated the need for implanting a separate pacemaker in patients. Such advancements in the technology have positively impacted the growth of the AED market.
Segmentation Analysis of Automated External Defibrillator Market
Geographical Analysis of Automated External Defibrillator Market
Globally, North America is expected to account for the largest share in the automated external defibrillator market by 2030, followed by Europe. Together, North America and Europe are expected to account for 77.1% market share in 2030. This can be mainly attributed to the presence of established players and rising geriatric population, along with increasing awareness among people for defibrillator usage during cardiac arrest.
Other regions, such as APAC, LATAM, and MEA, also hold considerable share in the AED market, on account of the rapid adoption of AEDs, due to the increasing awareness among consumers about the usage of defibrillators.
Competitive Landscape of Automated External Defibrillator Market
The global automated external defibrillator market is fragmented in nature with the presence of giant players, such as Stryker Corporation, ZOLL Medical Corporation, Koniklijke Philips N.V., and Nihon Kohden Corporation.
The players in the automated external defibrillator market are adopting several strategic measures, such as product launches and mergers & acquisitions, to maintain their leading position. For example, in August 2019, Koninklijke Philips N.V. introduced a new HeartStart Intrepid monitor/defibrillator to assess and treat patients in medical emergencies across pre-hospital and hospital settings. The device equipped with QCPR functionality that offers cardiopulmonary resuscitation (CPR) feedback and guidance for compressions and ventilations. It also has traumatic brain injury (TBI) advisory, which leverages vital sign evaluation to deliver the visual guidance required to avoid serious complications in people with suspected TBI.
Browse report overview with detailed TOC on "Automated External Defibrillator (AED) Market Research Report: By Type (Wearable, Non-Wearable), Technology (Semi-Automatic, Fully Automatic), Patient Type (Adult, Pediatric), End User (Hospitals, Clinics and Cardiac Centers, Pre-Hospital Care and Emergency, Public Access Settings, Homecare Settings) - Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/automated-external-defibrillator-market
Some other important players operating in the automated external defibrillator market are SCHILLER AG, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Mediana Co. Ltd., Opto Circuits Limited, and CU Medical System Inc.
External Defibrillator Market Segmentation
Market Segmentation by Type
Market Segmentation by Technology
Market Segmentation by Patient Type
Market Segmentation by End User
Market Segmentation by Region