External Defibrillator Industry Growth, Segment Analysis, Development and Demand Forecast to 2030

By 2030, $8,709.2 million revenue will be achieved by the global external defibrillator market, growing from $4,111.4 million in 2021. The market is projected to grow at an 8.7% CAGR from 2021 to 2030 owing to a rising number of out-of-hospital cardiac arrests (OHCA) and an increasing geriatric population. In the U.S., for instance, at least 356,461 OHCA are reported each year, merely 10% of them resulting in the survival of patients, as per the American Heart Association's (AHA) Heart & Stroke Statistics report 2020.

The forces of demand and supply are predicted to steep throughout the world, thereby assuring a snowballing growth in the external defibrillator market in the coming years. The market is facilitated by the regulatory policies being implemented in several emerging economies because these countries are business-friendly with few strict rules. There is a rising focus of the market players toward enhancing their position in the developing economies because of the rising prevalence of CVDs here. Therefore, these corporations take benefit from the rising sales and enormous growth potential in APAC.

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The external defibrillator market is bifurcated into pediatric and adult, based on the patient type. The market is dominated by the adult patients category, accounting for about 90% of the revenue. The possibility of cardiovascular diseases is on the surge worldwide, with a higher count of adult patients than pediatric patients. They are more prone to heart illness owing to their more-hectic lifestyle, which is often characterized by a fatty diet and heavy alcohol intake. Furthermore, the immune system also weakens as the person becomes older.

Under the end user segment, the public access settings category ruled the external defibrillator market, accounting for at least 30% of the value share. As the count of sudden cardiac arrests shoots up, there will be a dire need for automated external defibrillators to handle such situations. Therefore, their rapid installation in public access settings will augment growth in this market. For instance, some of the countries in Europe and APAC, along with the U.S., have imposed regulations necessitating fixing these devices in public spaces, such as civilian airfields, government buildings, stadia, and shopping centers.

The biggest revenue share was held by North America in the external defibrillator market, of about 60%, in 2021. This can be ascribed to the enhancing awareness of external defibrillators' advantages in treating pulseless ventricular tachycardia and ventricular fibrillation. For instance, each year, a notable share of GDP is expended on healthcare by the U.S. government. The U.S. healthcare investment increased from 4.3% of the GDP in 2019 to 9.7% in 2020, raising the overall figure to more than double the initial figure.

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The surging elderly population will essentially spur the external defibrillator market growth. After China and Japan, the U.S. has the third-fastest-growing elderly population. In 2020, there were approximately 727 million persons representing the geriatric population, as per the United Nations Department of Economic and Social Affairs. There is a prediction that this figure will become two times within 30 years, reaching least 1.5 billion. The elderly are the highest risk of arrhythmias because of their malfunctioning cardiac pacemaker and weakening of the heart itself.

Hence, as the geriatric population will increase to 16.0% of the total by 2050 from merely 9.3% in 2020, the prevalence of chronic diseases will also rise, thus paving the way for a skyrocketing growth in the market.

Browse more reports:

Defibrillator Market Report - https://www.psmarketresearch.com/press-release/defibrillator-market

North America Defibrillators Market Report - https://www.psmarketresearch.com/press-release/north-america-defibrillators-market

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