AUTOMATED EXTERNAL DEFIBRILLATOR MARKET ANALYSIS

Market Challenges And Opportunities

Market Drivers:

1. Increasing prevalence of cardiovascular diseases (CVDs) across the globe is expected to aid in the growth of the global automated external defibrillator market over the forecast period. For instance, according to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. More than four out of five CVD deaths are due to heart attacks and strokes, and one third of these deaths occur prematurely in people under 70 years of age.
2. Increasing training and awareness programs regarding defibrillators is expected to augment the growth of the global automated external defibrillator market during the forecast period. For instance, in March 2021, GAA launched defibrillator awareness programme. The programme allows clubs to fundraise for new AEDs, which are connected to the internet through the mobile phone network. This means automated external defibrillators will check and notify via email if there is an issue that needs to be addressed.

Market Restraints:

1. Stringent rules/regulations regarding medical devices, including AEDs, is expected to hinder growth of the global automated external defibrillator market. For instance, according to the US Food & Drug Administration (FDA), manufacturers are required to obtain premarket approval for all AEDs to ensure the quality and reliability of AEDs.
2. Lack of awareness and early corrective measures about sudden cardiac arrest is expected to hamper growth of the global automated external defibrillator market. For instance, many other medical conditions or lifestyles can put people at high risk of heart diseases, including diabetes, obesity and overweight, unhealthy diet, physical inactivity, and high alcohol consumption.

Market Opportunities:

1. Rising geriatric population around the world is expected to offer lucrative opportunities for players in the global automated external defibrillator market. Geriatric population is associated with progressive deterioration in the structure and function of the heart and acts as a catalyst in the development of chronic diseases. For instance, according to WHO, by 2030, 1 in 6 people in the world will be aged 60 years or over, and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion).
2. Technological advancements in the field of AEDs is expected to offer lucrative opportunities for players in the global automated external defibrillator market. For instance, in April 2019, Stryker launched the company’s newest defibrillation solution, the LIFEPAK CR2 defibrillator with LIFELINKcentral AED program manager, in the United States. The LIFEPAK CR2 is designed to help rescuers provide higher quality CPR and to provide the fastest first shock when defibrillation is needed.