The global external defibrillator market is booming, due to the rising incidence of cardiac diseases and the surging geriatric population. Furthermore, technological improvements in external defibrillator technology and an increase in the number of strategic developments among key players are also fueling the market expansion. Because of these factors, the market will likely garner $8,709.2 million revenue by 2030 and show significant growth during the forecast period.
During the COVID-19 pandemic, the large number of infected patients raised strain on the healthcare ecosystem and resources of all countries across the globe. This is mostly due to the increased demand for healthcare facilities, personnel, and most critically, medical equipment, devices, and pharmaceuticals. Workflows in the healthcare industry have been interrupted around the world as a result of the outbreak. The pandemic hampered hospitals' purchasing capacities, particularly in small-scale clinics and hospitals, resulting in supply deals and procedures being canceled or postponed, which affected the overall income of all key players in the external defibrillator industry.
Based on patient type, the external defibrillator market is categorized into adults and patients. Between the two, external defibrillators used on adult patients generated higher revenue in 2021. Moreover, this category is expected to witness faster growth during the forecast period. This is attributed to the more-rapidly increasing number of adult patients in comparison to pediatric patients all over the world.
The sales of external defibrillators in North America accounted for the largest revenue share globally in 2021, and it is also expected to witness healthy growth during the forecast period. This is mostly owing to the increased healthcare infrastructure, the presence of established players, and the rise in the geriatric population in the region. Furthermore, the market expansion in North America has been aided by factors such as the surging frequency of CVDs and the mounting number of installation bases.
In recent years, players operating in the global external defibrillator industry have actively engaged in product launches to gain a competitive edge and expand their product portfolio. Also, medical device organizations as well as major players in the market are focusing on partnerships and acquisitions to enhance their presence and product offerings. For instance:
Some of the major players operating in the external defibrillator market include Koninklijke Philips N.V., Nihon Kohden Corporation, SCHILLER AG, Stryker Corporation, Progetti S.r.l., Defibtech LLC, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., ZOLL Medical Corporation, Mediana Co. Ltd., BPL Medical Technologies Pvt. Ltd., and CU Medical System Inc.