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Automated External Defibrillators Market to Top $1B by 2030

2022-08-19

The global automated external defibrillators market is expected to expand nearly 10% annually over the next eight years to top $1 billion, according to Straits Research data.

Growth drivers include the rising incidence of cardiac diseases across all age groups, traumatic work conditions, a sedentary lifestyle, and the incrementing intake of tobacco alcohol, and illicit drugs. According to an article published in the International Journal of Stroke in January 2020, the incidence of atrial fibrillation worldwide is 37,574 million cases (0.51%) and has increased by 33% over the past two decades. In addition, according to future projections, the total burden of atrial fibrillation may increase by more than 60% by 2050. This escalating prevalence of arrhythmia generates demand for automated external defibrillators, propelling the growth of the analyzed market over the forecast period. Moreover, the rising incidence of cardiovascular disease-related deaths contributes to the expansion of the market. Further, the incidence of cardiovascular diseases among adults older than 80 years was 89.3% among males and 91.8% among females. Due to the high prevalence of cardiac disease in the elderly, the market is growing (9.49% annually) and will subsequently improve during the forecast period.

Automated external defibrillators (AEDs) are life-saving gadgets used to regulate the heartbeat. AEDs are portable medical devices designed to treat sudden cardiac arrest, a condition in which the heart stops beating unexpectedly. Cardiopulmonary resuscitation and early defibrillation effectively save lives when administered within the first few minutes following cardiac arrest. Typically, this happens when severance is caused by the heart's electrical activity, which results in a dangerously fast or irregular heartbeat. Either of these irregular heart rhythms inhibits the heart's ability to effectively pump blood and can result in cardiac arrest.

Batteries and electrode pads are necessary for the AED to detect and interpret an electrocardiogram and administer an electrical shock. The prime contributors to the growth of the automated electronic defibrillator market are the increasing prevalence of cardiac diseases, the rising geriatric population, technological advancements in the field, and the rising investment by market participants. In addition, the prevalence of sedentary lifestyles and the increase in the global geriatric population contribute to the rise in the incidence of cardiovascular diseases.

According to a Journal of Cardiovascular Development and Disease article, risk factors closely associated with advanced age, such as frailty, obesity, and diabetes, exacerbate the risk of cardiovascular disease. Thus, the risk of cardiovascular diseases increases with age.

The sophisticated healthcare infrastructure, favorable government initiatives regarding product development, and relatively high healthcare expenditures pave the way for advancing technology in healthcare, thereby boosting the scope of the automated external defibrillator market. In addition, market participants are collaborating on developing a comprehensive end-to-end method that integrates innovative hardware and advanced software to expand the pre-hospital scope of care for first responders. Thereby accelerating market growth.

With the advancement in innovation and technology and the increasing demand for automated external defibrillators, market participants are continuously increasing their investment in the field, which will propel the growth of the analyzed market over the coming years. MicroPort Cardiac Rhythm Management Limited, a subsidiary of MicroPort Scientific Corporation, specializing in manufacturing and commercializing implantable pacemaker and defibrillator equipment and technologies to manage cardiac rhythm disorders, entered into definitive agreements in July 2021 for its $150 million Series C financing. Such a rise in market participant investment is influencing market expansion.

Based on type, the global automated defibrillators market is segmented into semi-automated external defibrillators and fully automated external defibrillators. Semi-automated external defibrillators command the largest share in the market and are expected to grow 9.32% annually through 2030.

Based on end-user the global automated defibrillators market is segmented into hospitals/clinics, home care, and others. Hospitals/clinics are the largest market shareholder and are expected to grow 8.95% annually by 2030.

Region-wise, the market is segmented across North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America holds the largest position in the market and is expected to grow 9.32% by 2030. The U.S. is the biggest contributor to regional growth; the market there is expanding due to the prevalence of cardiovascular diseases, new products, and key market players in the region. According to statistics from the American Heart Association, nearly half of all Americans have cardiovascular diseases, such as hypertension, coronary heart disease, etc., which is expected to increase the cases of cardiovascular patients in the country, driving the market growth.

Europe is expected to generate $603 million and expand 9.7% annually by 2030. Germany and France are expected to contribute mainly to the developing European AED market. New product launches, the extensive R&D infrastructure in Germany, and the high prevalence of cardiovascular diseases in Germany are boosting the market's value.

Asia-Pacific is growing swiftly, owing to China and Japan. China's increasing work intensity and lifestyle shifts are expected to contribute to the market's expansion, along with the rising demand for and awareness of AEDs in the workplace. Due to the growing prevalence of cardiovascular diseases and cases of unexpected cardiac deaths in the country, the central government of China, in collaboration with the provinces, is expected to expand access to AEDs across the country. This effort aims to lower the mortality rate associated with cardiac arrests by using AEDs in emergencies.

The top competitive players in AED market include Asahi Kasei Corporation, Koninklijke Philips NV, Nihon Kohden Corporation, Schiller AG, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Stryker Corporation, CU Medical System Inc., Mediana Co. Ltd.,
BPL Medical Technologies Pvt. Ltd., and ViVest Medical.

Article source: MPO