Automated External Defibrillators Market: Segmented: By Product Type (Implantable defibrillators and External defibrillators), By End-User (hospitals, clinics, cardiac centers, public-access markets, alternate care facilities, home care settings, and others), And Region � Global Analysis of Market Size, Share & Trends for 2019�2020 And Forecasts to 2031
Automated External Defibrillator Market to surpass USD 3,218.3 million by 2031 from USD 1,375.3 million in 2021 at a CAGR of 8.9% in the coming years, i.e., 2021-31.
An automated external defibrillator (AED) is a small, portable device that shocks the heart with an electric shock delivered via the chest. Following a cardiopulmonary arrest, the shock may be used to stop an erratic heartbeat & allow a normal beat to restart following SCA. Automated defibrillators are devices that analyze the heart rhythm automatically and respond by administering an electric shock to re-establish a normal heart-beat if a problem is found. AEDs are deployed in numerous venues (such as hospitals & airports) and serve a major role in improving the number of options for life-saving defibrillation because of their modest size and ease of use.
The global Automated External Defibrillator market is expected to project a notable CAGR of 8.9% in 2031.
The increased prevalence of target diseases, the expanding focus on providing public-access defibrillators, and defibrillator training and awareness campaigns are all driving market expansion. Emerging markets, as well as the advancement of S-ICDs as well as MRI-compatible ICDs and CRT-Ds, are likely to provide growth possibilities for defibrillator manufacturers.
Implantable defibrillators material segment to grow with the highest CAGR during 2021-31
Based on product type, the defibrillator market is segmented into implantable defibrillators and external defibrillators. Due to the rapid increase in the elderly population, the advent of new technologies increased acceptance of S-ICDs, and the rise in the occurrence of sudden cardiac arrests (SCA), the implantable defibrillator sector now dominated the overall defibrillator market (SCA). The rising frequency of cardiovascular disorders as well as the development of technologically improved defibrillators is responsible for this market segment's considerable share.
Hospitals, Clinic & Cardiac centers to grow with the highest CAGR during 2021-31
The defibrillator market is divided into hospitals, clinics, cardiac centers, public-access markets, alternative care facilities, home care settings, and others, based on end-users. Due to the sheer increased number of cardiac patients treated in hospitals and surgery performed in hospital settings, the hospitals, clinics, and cardiac centers segment led the global defibrillator market and is expected to continue to do so. In hospitals, both ICDs & external defibrillator is increasingly being used to treat patients with sudden cardiac arrest as well as other conditions. However, due to an increase in the need for early diagnosis & initiatives done by private or government entities to build alternative care systems, the appropriate treatment is to grow significantly throughout the projection period.
Rising advancements in the development of defibrillators
Advances in the development of next-generation external defibrillators, which are expected to increase safety and effectiveness, are expected to generate profitable prospects. Defibrillators are intended to improve the industry's ability to identify and address problems related to devices. Automated external defibrillators (AEDs) dominate the worldwide external defibrillator market, which is predicted to grow at the fastest rate in the future due to increased usage by heart failure patients around the world. The market has grown as the number of community access AEDs has increased. Manual external defibrillators are the second-largest market for external defibrillators, followed by portable external defibrillators.
Increasing R&D activities by major players
Over the projection period, rising rates of lifestyle diseases such as cardiac problems and cardiac arrests, combined with a rapidly aging population, are likely to boost demand for defibrillation procedures and the automated external defibrillator market. Over the forecast period, the market is expected to rise due to rising awareness of the condition and rising demand for SCA therapy. Over the projected period, technological advances and increased R&D activities by major competitors are expected to offer new revenue opportunities in the target market.
Lack of awareness
However, a lack of awareness of sudden cardiac arrest as well as an increase in product recalls is two main factors that may limit the target market's growth throughout the projection period. Also, challenges associated with the usage of implantable & automated external defibrillators, and frequent recalls regarding sudden cardiac arrest in emerging countries are projected to stymie the market's expansion.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Automated External Defibrillator market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Due to the rising incidence of heart attacks and the presence of a large patient population suffering from cardiac disorders, the automated external defibrillators market in North America is likely to dominate the global industry. Other factors expected to drive considerable growth in the North American market over the next ten years include the increasing presence of sophisticated research institutions in the US, as well as leading industry participants, focused on the development of enhanced external defibrillators.
The COVID-19 outbreak had a negative economic impact in 2020 and caused various challenges to clinical healthcare physicians and patients all around the world. Logistical concerns, illness management, prioritizing patients with comorbidities and pre-existing disorders, and then further protecting the public and hospital staff from COVID-19 are all key challenges that healthcare systems around the world are dealing with. Hospitals' purchasing power of hospitals also harmed due to pandemics. Furthermore, many people have lost their employment and livelihoods as a result of the lockdowns, which had a significant impact on patient purchasing patterns.
|The market size value in 2021||USD 1,375.3 million|
|The revenue forecast in 2031||USD 3,218.3 million|
|Growth Rate||CAGR of 8.9% from 2021 to 2031|
|The base year for estimation||2020|
Revenue in USD million and CAGR from 2021 to 2031
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product, End-User, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Stryker Corporation, Biotronik SE & Co. KG, Boston Scientific Corporation, Philips Healthcare, LivaNova PLC, Medtronic plc, Cardiac Science Corporation, Nihon Kohden Corporation, St. Jude Medical, Inc., and Other Prominent Players.|
The Automated External Defibrillator Market size was estimated at USD 1,375.3 million in 2021 and expected to reach USD 3,218.3 million by 2031
Key players: Stryker Corporation, Biotronik SE & Co. KG, Boston Scientific Corporation, Philips Healthcare, LivaNova PLC, Medtronic plc, Cardiac Science Corporation, Nihon Kohden Corporation, St. Jude Medical, Inc. and Other Prominent Players.
Implantable defibrillators material segment and Hospitals, Clinic & Cardiac centers are anticipated to hold the largest Automated External Defibrillator Market.
Drivers: Rising advancements in the development of defibrillators and Increasing R&D activities by major players
An automated external defibrillator (AED) is a small, portable device that shocks the heart with an electric shock delivered via the chest. Following a cardiopulmonary arrest, the shock may be used to stop an erratic heartbeat & allow a normal beat to restart following SCA.
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