Market Trends of External Defibrillator Industry
Automated External Defibrillator (AED) is Expected to Dominate the Market in the Product Type Segment
The automated external defibrillator (AED) by product segment is expected to contribute to the growth of the external defibrillator market in the forecast period. Automated external defibrillators (AED) are mostly found in public access settings and are meant to be used by non-medical personnel. If someone suffers sudden cardiac arrest, people nearby can provide CPR and use an AED before the ambulance arrives. When turned on, the AED will give the user step-by-step directions to deliver a shock if needed. The person using the AED needs to follow the instructions and the AED will start functioning automatically. This increases the demand for the AED and accelerates the segment's growth.
AEDs majorly used in correcting patients' heartbeats through automated functions. These are easy to use for any bystanders at any place by simply following the instructions; this creates demand for the availability of automated external defibrillators in public and at home for controlling several heart conditions in an emergency.
Atrial fibrillation (A-fib) is a condition of irregular and often very rapid heart rhythm which can also lead to blood clots in the heart causing the risk of stroke, heart failure, and other heart-related complications. This is one of the most treated heart arrhythmias. As per CDC data updated in October 2022, nearly 12.1 million people in the United States are estimated to have A-fib in 2030. In addition, as per the American College of Cardiology Foundation in March 2021, public access to the AEDs has altered the survival rate of sudden cardiac arrest but nearly 70% of cardiac arrests occur at home globally. Such risk of various heart conditions among the target population creates numerous opportunities for AEDs such as at-home AEDs for controlling the risk of cardiac arrest among populations. Thereby, garnering the segment's growth.
Furthermore, product launches are majorly impacting the segment's growth, fueling the demand generation and revenue of manufacturing companies. For instance, in September 2021, ZOLL MEDICAL introduced 3 Automated External Defibrillator (AED) models to penetrate the Thailand market. This estimated that demand for AEDs in Thailand would rise to 10,000 units. In addition, in August 2021, Avive Solutions, Inc a global provider of AED, partnered with RapidSOS to provide life-saving AEDs to cardiac arrest patients in crucial times and provide telecommunicators with unprecedented occurrence data to help them more seamlessly and effectively coordinate life-saving care. Such developments are anticipated to garner segmental growth. Therefore, with the increasing burden of cardiac conditions and company activities, the segment is predicted to witness growth over the forecast period.
North America Expected to Dominate the External Defibrillators Market in the Forecast Period
The North American external defibrillators (EDs) market is expected to grow during the forecast period due to the high burden and increasing prevalence of cardiovascular diseases, new product launches, and the emerging number of key market players in the United States and other countries in the region.
The high prevalence of cardiac diseases among the population in the country is expected to reap the demand for external defibrillators as these can modify the rhythm of the heart and can be lifesaving. According to 2022 statistics published by American Heart Association, the prevalence rate of heart failure in the United States was 6 million, or 1.8% of the total population, in 2021. This shows a high burden of heart failure in the country. This is increasing the need for awareness regarding technological advances, such as automatic external and wearable defibrillators. Thereby expected to fuel the market for external defibrillators growth over the forecast period in the region.
Additionally, the region has high access to external defibrillators. It has awareness about Sudden Cardiac Arrest (SAC) followed by initiatives taken by the government and private organizations for easy availability of external defibrillators. This contributes to the growth of the external defibrillators (EDs) market. For instance, In October 2021, the PulsePoint Foundation organized a PulsePoint AED Contest. In November 2021, the PulsePoint Foundation announced that Fairfield County, Ohio, won the inaugural Pulse Point AED Contest and a grant of USD 5,000 to purchase AEDs (Automated External Defibrillators) for public safety staff and the community.
In addition, the major players in the region are taking new steps in terms of partnerships, collaborations, mergers, and acquisitions to bring revolution to the market. This is driving the growth of the studied market. For instance, in September 2021, Stryker Corporation and United States Lacrosse partnered to serve as the Official AED provider for United States Lacrosse and the United States National Teams. With this partnership, United States Lacrosse members received Stryker AED devices at a discounted price. Such developments are anticipated to drive market growth in the region. Therefore, owing to all these initiatives, partnerships, and product launches, the overall market growth in the region has grown. It is expected to continue the same trend over the forecast period.
