Hospital and Pre-Hospital External Defibrillator Market - Rise In the Geriatric Population and Development in Healthcare Infrastructure Further Drive the Market Growth
A defibrillator is a medical device used to restore normal heartbeat by applying an electrical pulse or shock to the heart. They correct abnormal cardiac rhythms and restore normal heartbeat in conditions such as ventricular fibrillation, myocardial infarction, cardiac arrest, and cardiac arrhythmia.
Major factors such as increased incidence of cardiovascular disease, technological advances in defibrillators, an increase in unmet medical demand for sudden cardiac arrest, increased awareness of auto-IV defibrillators in developing countries, and an increase in elderly population are expected Promote market growth. However, higher defensive costs are expected to hinder market growth. In contrast, increased adoption of external defibrillators and favorable opportunities in emerging economies are expected to lead to numerous growth opportunities during the forecast period.
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Based on type, the external defibrillator market is segmented as automated and manual. The automated external defibrillator segment dominated the global market in 2017 and is expected to maintain this trend throughout the analysis period. Moreover, the automated external defibrillator segment is expected to experience rapid growth during the forecast period. increase in demand for automated external defibrillators in the developed economies such as North America & Europe, and rise in awareness in developing economies further boost the market growth.
Based on end user, the external defibrillator market is categorized as hospitals and pre-hospitals. The hospitals segment is the largest revenue contributing segment in the global hospital and pre-hospital external defibrillators market due to the higher usage of external defibrillators within hospitals specially in ICU, and emergency rooms.
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Key Findings of the Hospital and Pre-Hospital External Defibrillator Market:
• Based on type, the manual external defibrillator segment accounted for more than one third share of the global hospital and pre-hospital external defibrillators market in 2017 (in terms of volume).
• Based on end user, the pre-hospital segment is expected to grow at a CAGR of 7.6% from 2018 to 2025 in terms of value.
• North America accounted for more than one half share of the global market in 2017.
• Asia-Pacific is expected to provide lucrative growth opportunities in the market and grow at a CAGR of 8.6% from 2018 to 2025 in terms of value.
In terms of value and volume, North America was the leading contributor to the global hospital and pre-hospital external defibrillators market in 2017 and is expected to dominate the market during the forecast period. This is attributed primarily to the rise in prevalence of cardiac arrhythmia disorders, higher awareness among the healthcare personnel, easy product availability, high adoption rate of technologically advanced defibrillators, presence of highly sophisticated healthcare infrastructure, favorable reimbursement framework for defibrillators, and increased patient awareness about the availability of congestive heart failure (CHF) treatment options. Moreover, Asia-Pacific is projected to experience rapid growth throughout the analysis period.
Japan is the leader in the Asia-Pacific external defibrillator market, due to the higher awareness regarding cardiac arrest and surge in demand for automated external defibrillators. Also, improvement in healthcare infrastructures and rise in expenditures in the emerging markets (such as India and China) to overcome the unmet medical needs in these countries boost the market growth. Technological advancements for cost-effective devices in these nations offer lucrative opportunities for the growth of the external defibrillator market.
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