The increasing number of strategic developments among key players and surging geriatric population are the major growth drivers for the automated external defibrillator market globally. Due to the aforementioned factors, the automated external defibrillator market is projected to generate $3,520.5 million revenue by 2030, advancing at a CAGR of 8.6% during 2021–2030.
As a result of the COVID-19 pandemic, medical practices of all sizes are under severe strain, and healthcare facilities around the world have been overwhelmed by the large number of patients. Due to the pandemic, hospitals’ purchasing capacity, particularly of smaller hospitals, was negatively impacted, thus resulting in a delay in supply deals, which negatively impacted the overall revenue of all market participants. Furthermore, due to the new packaging protocols and lockdown measures, the time for the delivery of products was also impacted.
However, nearly all AED manufacturing companies have started to recover due to the lifting of the lockdowns in different regions and full functioning of hospitals. Additionally, technological advancements in medical devices became one of the key trends during the pandemic, which has led to the upgrading of AEDs with several features, such as rechargeable batteries, voice prompts, CPR tutorials, sophisticated self-testing software, fully automatic operations, and new types of shocks.
Moreover, AED companies are taking measures to rapidly ramp up their manufacturing capabilities, by collaborating and acquiring other companies. For instance, in February 2021, Koninklijke Philips N.V. completed the acquisition of BioTelemetry Inc., a U.S.-based provider of remote cardiac diagnostics and monitoring solutions. This acquisition will transform the delivery of care along the health continuum, with integrated solutions.
The automated external defibrillator market is categorized into adult and pediatric, on the basis of patient type. Of these, the adult category dominated the market during the historical period (2017–2021), and it is expected to retain its dominance during the forecast period (2022–2030). The number of adult patients is increasing in comparison to pediatric patients all over the world. Additionally, demographic transitions have made adults the larger category in the market, as adult patients are more susceptible to SCA.
The market is further categorized into fully automatic and semi-automatic, on the basis of technology. Of these, fully automatic AEDs are used more. A fully automatic AED is designed to deliver a shock automatically, without the need for the rescuer to press a button. Additionally, the device provides step-by-step instructions to alert rescuers when a victim is about to be shocked.
Globally, North America dominated the automated external defibrillator market in 2021, with around 60% share in the global market. The market is primarily driven by the rising healthcare expenditure, increasing number of collaborations among industry players for product development and distribution, presence of key market players, and surging prevalence of chronic diseases in the region. According to the CDC, about 610,000 people die of heart disease in the U.S. every year. Moreover, the number of people aged 65 years or above is on the rise in the country. Since the elderly are more susceptible to CVDs compared to people in other age groups, they continue to generate a high demand for AEDs in the nation.
Moreover, the U.S. government has taken initiatives for the installation of AEDs in public places, in the wake of the increasing prevalence of heart diseases. Furthermore, product launches are positively impacting the AED market in the U.S. For instance, in 2019, Stryker Corporation launched the LIFEPAK CR2 defibrillator with the LIFELINKcentral AED program manager in the U.S.
Players in the industry are involving in launching new products to remain competitive. For instance, in June 2020, ZOLL Medical Corporation launched the ZOLL AED 3 defibrillator, which uses the CPR technology with integrated, real-time feedback, to help deliver guideline-compliant CPR. Additionally, this defibrillator can treat adult and pediatric patients with a single CPR Uni-padz electrode.
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 is equipped with the QCPR functionality, which offers 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 a suspected TBI.
The major players operating in the automated external defibrillator market are Koninklijke Philips N.V., BIOTRONIK SE & Co. KG, Nihon Kohden Corporation, SCHILLER AG, Stryker Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., ZOLL Medical Corporation, Mediana Co. Ltd., and CU Medical System Inc.