Automated external defibrillator, or AED, is used to help people experiencing sudden cardiac arrest. It is easy-to-use, medical device that can analyse heart's rhythm and, if necessary, deliver an electrical shock, to help the heart re-establish an effective rhythm. AEDs are used to revive someone from sudden cardiac arrest. This usually occurs when a disruption in heart's electrical activity causes a dangerously fast heartbeat or a fast and irregular heartbeat. Defibrillation is a critical and crucial component in the treatment for sudden cardiac arrest. AEDs are often used to revive someone from sudden cardiac arrest.
Market Statistics:
The global automated external defibrillator market is estimated to account for US$ 773.3 Mn in terms of value by the end of 2022.
Drivers:
Increasing adoption of AEDs due to increasing number of sudden cardiac arrests worldwide is expected to boost growth of the global automated external defibrillator market over the forecast period. For instance, according to the American Heart Association, over 356,000 cardiac arrests occur outside a hospital in the United States each year, nearly 90% of them are fatal. Moreover, as per the Canadian Centre for Occupational Health and Safety (CCOHS), June 2020 report, over 40,000 people in Canada die of sudden cardiac arrest, which is about one person every 12 minutes, and over 100 people per day.
Opportunities:
Increasing prevalence of cardiovascular diseases along with the growing geriatric population is expected to offer lucrative growth opportunities for players in the global automated external defibrillator market. The elderly population is increasing worldwide. Cardiovascular diseases (CVDs) are one of the most common diseases in the geriatric population. For instance, as per the World Health Organization (WHO), cardiovascular diseases are the leading cause of death worldwide, 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.
Restraints:
Stringent rules and regulations regarding automated external defibrillator and lack of awareness among people about sudden cardiac arrest is expected to hinder growth of the global automated external defibrillator market. For instance, in the United States, manufacturers are required to obtain premarket approval for all AEDs to ensure the quality and reliability of AEDs. The US FDA is encouraging consumers to check that their AED is FDA-approved. Premarket approval (PMA) is the most stringent type of premarket submission required by the FDA.
Global Automated External Defibrillator Market - Impact of Coronavirus (Covid-19) Pandemic
The concerns for those with cardiac issues who are infected with coronavirus are very serious. As COVID-19 continues to spread, AEDs could make difference between life and death for a person with an underlying heart condition. A majority of AEDs became inaccessible during the COVID-19 pandemic due to government-mandated closures in an effort to contain the spread of the virus. In short, the ongoing pandemic had a dual impact on the growth of the automated external defibrillator market.
To know the latest trends and insights prevalent in the Global Automated External Defibrillator Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/automated-external-defibrillator-market-5078
Key Takeaways:
The global automated external defibrillator market was valued at US$ 717.5 Mn in 2021 and is forecast to reach a value of US$ 1,217.0 Mn by 2028 at a CAGR of 7.8% between 2022 and 2028.
Among analysis type segment Semi-automated external defibrillators segment held dominant position in the global automated external defibrillator market in 2021, accounting for 71.3% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Market Trends:
- Introduction of novel AEDs by market players is expected to propel growth of the automated external defibrillator market. For instance, in September 2019, Mindray announced the launch of the BeneHeart C Series automated external defibrillator (AED) with smarter operations and faster shock delivery to achieve better resuscitation outcomes for sudden cardiac arrest.
- Increase in awareness among people about cardiac health is expected to drive growth of the automated external defibrillator market. For instance, in May 2022, in honour of National CPR Awareness Week, the Casa Grande Fire Department and Ak-Chin Indian Community and the PulsePoint Foundation teamed up to launch registration campaign for local automated external defibrillator devices (AEDs).
Competitive Landscape:
Major players operating in the global automated external defibrillator market include ViVest Medical, BPL Medical Technologies Pvt. Ltd., Mediana Co. Ltd., Stryker Corporation, Schiller AG, Nihon Kohden Corporation, Koninklijke Philips, CU Medical System Inc., Asahi Kasei Corporation, and Shenzhen Mindray Bio-Medical Electronics Co. Ltd., among others.
Recent Developments:
In September 2021, Zoll Medical announced the launch of 3 Automated External Defibrillator (AED) models to penetrate the Thai market. This estimated that demand for AEDs in Thailand will rise to 10,000 units.
In April 2019, Stryker launched its Lifepak CR2 defibrillator featuring LifelinkCentral AED program manager after winning FDA premarket approval for the system. The newly launched Lifepak CR2 AED features new technology including CPRInsight, allows the users to continue chest compressions during ECG analysis and can improve survival outcomes.
