According to the report, the automated external defibrillators market was estimated at USD 1.71 billion in 2021 and is likely to grow at a CAGR of 7.05% during 2022-2028 to reach USD 2.77 billion in 2028.
What are automated external defibrillators?
Automated external defibrillators are defined as portable, life-saving devices which analyze the rhythm of the heart and treat people who experience sudden cardiac arrest. Cardiac arrest is a medical ailment wherein the heart stops beating. This device detects the problem and treats the same by delivering an electric shock to restore normal heart rhythm. These devices are of small size and thus, are easy to use.
COVID-19 Impact
The Covid-19 outbreak impacted the growth of automated external defibrillators positively. With the rapid surge in covid-19 cases, healthcare facilities across geographies were focusing on treating patients infected with the coronavirus. This resulted in an increased need for automated defibrillators to ensure patients suffering from cardiac arrest could be provided with the best chances of survival.
Key Market Players –
- Koninklijke Philips N.V. (Netherlands),
- Physio-Control Corporation (The U.S),
- Asahi Kasei Medical Co., Ltd (Japan),
- Nihon Kohden Corporation (Japan),
- Schiller AG (Switzerland),
- Mindray Medical International Limited (China),
- GE Healthcare (The U.S),
- Stryker Corporation (The U.S),
- Cardiac Science Corporation (The U.S),
- Zoll Medical Corporation (The U.S),
- Metrax GmbH (Germany), and
- Biotronik (Germany).
Market Dynamics
The rapidly expanding aging population has also resulted in increased demands for automated external defibrillators.
- The market growth is primarily driven by an increase in the number of people suffering from cardiovascular diseases as a result of a busy lifestyle and unhealthy eating habits.
- The rise in the number of people dying due to cardiac arrest is likely to fuel the demand for automated defibrillators at a significant rate.
- Growing emphasis on technological advancement in these devices is expected to create lucrative opportunities for the players operating in the global automated external defibrillators market during the review period.
Report Findings
Based on end users, the market has been divided into hospitals, public access, emergency medical services, homes, and private cardiac clinics.
In 2021, the hospital's segment garnered the largest market share. The public access segment is likely to grow at a significant rate during the review period on account of the rise in the number of sudden cardiac arrest cases worldwide.
Based on technology type, the market is segmented as semi-automatic and fully automatic. The fully automatic segment is estimated to account for the major share of the market during the forecast period.
The market in North America accounted for the largest share of approximately 30% in 2021.
This was due to the increasing geriatric population, the rise in the number of people dying due to cardiac arrest, and the growing emphasis on technological advancement in defibrillators.
The market in the Asia-Pacific region is projected to register a healthy growth rate on account of rising product awareness among consumers and expanding the healthcare industry in developing countries.
FAQs in the report -
The research report aims to help the users learn about their market size and potential to connect with customers. This report answers to the following questions:
- How big is the potential Automated External Defibrillators?
- Will this market grow or shrink in the future?
- Who are our top competitors or key players?
- What market share do the competitors own?
- How Covid19 has affected the market?
- How long will it take to recover from the Covid-impact?
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