Automated External Defibrillators Market Is Projected To Witness Significant Growth During The Forecast Till 2025.
Sudden Cardiac Arrest (SCA) is one of the leading causes of premature deaths, but many of those can be saved with immediate intervention. SCA occurs due to ventricular fibrillation (VF), which is a chaotic, disorganized electric rhythm of the heart. The sooner VF is treated with defibrillation, the greater are the chances of survival of the patient experiencing SCA. Automated external defibrillators (AED) are easy to use, portable, compact and highly effective in such cases. They are designed to be used by lay persons in case of emergency situations in public places or at home. These systems are extremely safe as they do not allow a shock to be given to the patient unless there is absolute necessity for the heart’s rhythm. These devices are being increasingly used by people with little or no training to restore normal rhythm of the heart of an SCA victim.
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Rising incidence of cardiovascular diseases and increasing prevalence of geriatric population around the world are the primary driving factors for the global automated external defibrillators market. According to the 2015 World Population Ageing report by United Nations, between 2015 and 2030, the older population aged 60 years and over is expected to grow by 56% from 901 million to 1.4 billion. Moreover, this number is projected to reach 2.1 billion by 2050. With such high prevalence of geriatric population, risk of SCA is bound to increase considerably over the forecast period thus fueling the demand for AEDs. However, lack of awareness about sudden cardiac arrest (SCA) can hinder the growth of AEDs market during the forecast period.
Fully automated AEDs are normally used outside hospital settings in public places and pre hospital environments such as ambulances. These devices can be used with little or no training at public places or at home to counter SCA situations. Semi-automated AEDs are generally used in hospitals as these require some level of expertise to operate. With increasing installation of fully automated AEDs in public places, especially in developed countries, the market will witness favorable growth during the forecast period.
U.S. held a considerable share of the North American AEDs market in 2016 owing to increasing prevalence of chronic diseases and availability of robust healthcare infrastructure in the country. France held a larger share of the European AEDs market in 2016 followed by Germany. Rising awareness related to SCA and installations of defibrillators for public access are some of the factors responsible for the growth of AEDs market in these countries.
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Technological advancement is another factor driving the growth of this market. Therefore, the major players operating in the global AEDs market emphasize on product development to expand their product portfolio and gain competitive advantage in the market. For instance, in March 2017, ZOLL Medical Corporation obtained approval from Health Canada for its ZOLL AED 3 and the ZOLL AED 3 BLS. This approval helped the company expand its product portfolio and market its AEDs in Canada. Such advanced product launches will help these players to expand their product portfolio to sustain their position in the global market. Some of the key players operating in the global AEDs market are, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., ZOLL Medical Corporation (acquired by Asahi Kasei Corporation), Physio-Control, Inc. (acquired by Stryker Corporation), Cardiac Science Corporation, Koninklijke Philips N.V., Metrax GmbH, and Defibtech, LLC. (acquired by Nihon Kohden Corporation).
Key Findings of the Research Study:
• Fully automated AEDs market will exhibit favorable growth over the forecast period owing to rising adoption of these devices for public access as these can be efficiently operated with little or no training.
• Pre hospital segment will witness favorable growth during the forecast period owing to the immense value that AEDs deliver in emergency SCA cases.
• North America accounted for the largest share of the global AEDs market in 2016 due to increasing incidence of cardiovascular diseases and availability of advanced healthcare infrastructure.
• Europe held the second largest share of the global AEDs market with France commanding around one-fourth share of the European AEDs market.
• Asia-Pacific AEDs market is expected to exhibit fastest growth during the analysis period owing to the presence of unmet medical needs in the region and increased awareness related to cardiovascular diseases.
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Automated External Defibrillators Market Segmentation
• Fully Automated External Defibrillators
• Semi-automated External Defibrillators
By End User:
• Alternative Care Market
• Public Access Market
• Other End Users
• North America
o Rest of Europe
o South Korea
o Rest of Asia Pacific
• Rest of the World
o South Africa
o Saudi Arabia
o United Arab Emirates
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