External Defibrillators Market - Growth in Focus toward Public Access Defibrillator (PAD) By the Public & Private Organizations Along With the Key Players Fuel the Market Growth
An external defibrillator is a device used to deliver therapeutic shocks to the patient's heart in life-threatening conditions such as ventricular fibrillation, cardiac arrhythmia, and uncircumventricular tachycardia. Key drivers for market growth include technological advances such as the emergence of automated external defibrillators (AEDs) for public access locations, increased incidence of sudden cardiac arrest, and increased awareness of global public access defibrillators. Increasing health care appeal is also expected to increase sales of wearable external defibrillators and inter-home defibrillators such as AEDs (automatic external defibrillators).
The ability of the defibrillator to diagnose ventricular tachycardia and early onset of ventricular defibrillation is expected to facilitate their demand. Nonetheless, cost effectiveness, safety, high accessibility and clinical value in the preliminary treatment of sudden cardiac arrest strengthens the technological advances in the defibrillator market. However, lack of awareness of the availability of external defibrillators to prevent acute heart attack (SCA) and safety issues associated with automated external defibrillators are expected to hamper market growth.
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Key players operating in the market include
• Nihon Kohden Corporation
• Cardiac Science Corporation
• Philips Healthcare
• HeartSine Technologies LLC.
• ZOLL Medical Corporation
• Mindray Medical International Limited
• Defibtech Llc
• Physio-Control Inc.
• GE Healthcare
• Schiller Ag.
The automated external defibrillator sector led the global market in quantitative terms and value in 2016 and is expected to maintain this trend during the analysis period. This is mainly due to increased installations in public places such as schools, workplaces, airports, sports arenas, public offices, and public or private places where large people with high risk of heart attack gather. Increased demand for AEDs in developed countries such as North America and Europe further drives market growth.
Wearable cardioverter defibrillator (WCD) can grow at the fastest rate during the forecast period due to the non-invasive nature and increased demand for home health care for sudden cardiac arrest. The wearable external defibrillator segment is expected to grow at a remarkable CAGR of 11.3% in 2017-2023.
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However, Asia Pacific is the fastest growing region during the analysis period. Japan is a leading player in the Asia Pacific defibrillator market contributing to AED market share. This is due to an increased awareness of the early prevention of sudden cardiac arrest.
In addition, market growth is driven by improved healthcare infrastructure and increased spending in emerging markets (eg India and China) to overcome the medical needs of these countries. Technological advances in cost-effective devices in these countries provide a favorable opportunity for growth in the defibrillator market.
Key Findings of External Defibrillators Market:
• In 2016, automated external defibrillators (AEDs) led the overall external defibrillator market revenue, and is projected to grow at a CAGR of 7.8% during the forecast period.
• The AEDs segment occupied the highest share in 2016, and is expected to grow at a CAGR of 12.8%, in terms of volume.
• North America was the leading consumer of external defibrillators in 2016, both in terms of value and volume, followed by Europe.
• Japan is expected to lead market in the Asia-Pacific region in 2016, growing at a CAGR 8.9% from 2017-2023.
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