Market Size of External Defibrillator Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.62 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
External Defibrillator Market Analysis
The external defibrillator market is expected to register a CAGR of 7.62% during the forecast period.
The COVID-19 pandemic impacted the studied market significantly. During the initial phase of the pandemic, the restriction on closures of non-essential businesses and buildings and the use and demand for automated external defibrillators (AED) accessibility decreased. According to the researchers of a study published in the Resuscitation Journal in May 2021, when all the publicly available online AED registries in Canada were analyzed for four months, 69.9% were completely inaccessible, and 18.8% were partially unavailable during the pandemic phase. As per the study above, AED accessibility reduced heavily in parks, retail and recreation locations, and workplaces during the pandemic. Thus, it affected the market studied adversely.
However, during later phases of the pandemic, following COVID-19-associated cardiovascular diseases such as myocardial injury, arrhythmias, intravascular thrombosis, and sudden cardiac death affecting the cardiovascular system, the use of external defibrillators increased. This burden of cases has increased the demand for external defibrillators as an effective intervention for cardiovascular diseases (CVDs), significantly impacting the market studied. Also, it is expected to contribute to the market growth during the forecast period.
Factors such as the increasing number of cardiac patients, rising focus by the government, and significant players toward public access defibrillators (PADs) are expected to contribute to market growth over the forecast period.
Due to the current sedentary lifestyle among the population and the growing geriatric population around the world, the burden of cardiac diseases is rising, followed by an increasing number of hospital admissions in hospitals and critical care units. A press release published by Boehringer Ingelheim GmbH in August 2021 mentioned that nearly 60 million or more people worldwide are affected by the chronic, disabling cardio-renal-metabolic illness known as heart failure. In addition, as per data released by the Australian Institute of Health and Welfare in May 2022, out of 11.8 million admissions, 7% of hospitalizations involved a stay in the intensive care Unit, and 3.8% of hospitalizations involved CVDs. Such increasing admission in emergency and critical care creates the need for the availability of cardiac rhythm management devices. Thus, this is expected to create opportunities for external defibrillators, driving the studied market growth.
Moreover, the availability of technologically advanced products in the market for patient care is further fueling the market growth. For example, in October 2021, the Welsh Rugby Union (WRU) partnered with Calon Hearts charity and Mindray distributor. With this partnership, over 300 clubs across Wales benefited from Mindray's C Series automated external defibrillators (AEDs). In addition, in April 2021, the wearable electrocardiographic defibrillator (WCD) developed by ViVest Medical was approved by the Medical Device Technology Review Center of the National Medical Products Administration to enter the special 'Review Process of Innovative Medical Devices.' It became the first made-in-China product in the external defibrillator market. These technological advancements in the external defibrillator field and the new product launches by the key market players are boosting the growth of the studied market. Thus, it is projected to witness lucrative growth during the forecast period.
However, the lack of awareness about Sudden Cardiac Arrest (SAC), stringent regulations, and frequent product recalls may restrain the growth of the external defibrillator market.
External Defibrillator Industry Segmentation
As per the scope of the report, an external defibrillator is a medical device that is designed to analyze the heart rhythm and deliver an electric shock to patients with ventricular fibrillation to restore the heart rhythm to normal.
The External Defibrillator Market is segmented by Product (Manual External Defibrillator, Automated External Defibrillator (AED), and Wearable Cardioverter Defibrillator (WCD)), End User (Hospitals and Clinics, Home Care, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.
| By Product | |
| Manual External Defibrillator | |
| Automated External Defibrillator (AED) | |
| Wearable Cardioverter Defibrillator (WCD) |
| By End User | |
| Hospitals and Clinics | |
| Home Care | |
| Other End Users |
| By Geography | ||||||||
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External Defibrillator Market Size Summary
The external defibrillator market is poised for significant growth, driven by an increasing prevalence of cardiovascular diseases and a rising focus on public access defibrillators. The market experienced initial setbacks due to the COVID-19 pandemic, which restricted access to automated external defibrillators (AEDs) in public spaces. However, the subsequent rise in COVID-19-related cardiovascular complications has spurred demand for these life-saving devices. The growing geriatric population and sedentary lifestyles have further contributed to the surge in cardiac conditions, necessitating the availability of external defibrillators in hospitals and critical care units. Technological advancements and new product launches, such as wearable electrocardiographic defibrillators, are also propelling market growth, offering innovative solutions for cardiac rhythm management.
North America is expected to be a key region for market expansion, fueled by the high prevalence of cardiovascular diseases and increased awareness of sudden cardiac arrest. The region's robust access to external defibrillators, supported by government and private initiatives, is enhancing market growth. Partnerships and collaborations among major players, such as Stryker Corporation and United States Lacrosse, are further driving the market by improving the availability and affordability of AEDs. Despite challenges like lack of awareness and stringent regulations, the market remains competitive, with companies focusing on product innovation and strategic acquisitions to strengthen their market position.
External Defibrillator Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increase in Incidence of Cardiac Diseases
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1.2.2 Availability of Technologically Advanced Defibrillators
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1.2.3 Increasing Investments by Private Players
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1.2.4 Rising Focus by Government and Major Players toward Public Access Defibrillator (PAD)
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1.3 Market Restraints
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1.3.1 Lack of Awareness about Sudden Cardiac Arrest (SAC)
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1.3.2 Stringent Regulations and Frequent Product Recalls
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Manual External Defibrillator
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2.1.2 Automated External Defibrillator (AED)
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2.1.3 Wearable Cardioverter Defibrillator (WCD)
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2.2 By End User
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2.2.1 Hospitals and Clinics
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2.2.2 Home Care
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2.2.3 Other End Users
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 France
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2.3.2.3 Germany
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle-East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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External Defibrillator Market Size FAQs
What is the current External Defibrillator Market size?
The External Defibrillator Market is projected to register a CAGR of 7.62% during the forecast period (2024-2029)
Who are the key players in External Defibrillator Market?
Asahi Kasei Corporation (Zoll Medical Corporation), Koninklijke Philips N.V. (Philips Healthcare), Nihon Kohden Corporation (Defibtech LLC), Schiller Americas, inc. (Schiller Ag) and Shenzhen Mindray Bio-Medical Electronics Co., Ltd. are the major companies operating in the External Defibrillator Market.
