Newark, NJ, Jan. 28, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global automated external defibrillators market is expected to grow from USD 1.6 Billion in 2017 to USD 6.28 Billion by 2025 at a CAGR of 17.81% during the forecast period 2018-2025.
The global automated external defibrillators market is witnessing the robust growth, owing to increasing prevalence of cardiovascular diseases including coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions across the globe. A per the study by World Health Organization (WHO), cardiovascular diseases (CVDs) are the number one cause of death globally, taking an estimated 17.9 million lives each year. Therefore, there is a rising need for the early detection and proper management for the cardiovascular disease, which is resulting into the growth of market.
Automated external defibrillator is a portable, life saving device that checks person’s heart and delivers an electric shock if it has stopped beating normally or during sudden cardiac arrest. This system includes accessories such as pad electrodes and batteries, which are necessary for the automated external defibrillators to detect and interpret an electrocardiogram and deliver an electrical shock. There are two main type of automated external defibrillators such as public access and professional use. Public access automated external defibrillators are generally found in the airports, community centers, schools, government buildings, hospitals, and other public locations, while professional use automated external defibrillators used by first responders, such as emergency medical technicians (EMTs) and paramedics.
Global automated external defibrillators market is expected to witness rapid growth over the forecast period, owing to technological advancements in defibrillators and growing focus on providing public-access defibrillators. However, lack of awareness about sudden cardiac arrest in developing nations, and many product recalls is likely to hamper the market growth over the forecast period.
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Key players operating in the global automated external defibrillators market include Koninklijke Philips N.V., NIHON KOHDEN CORPORATION, Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Schiller AG, Physio-Control, Inc. (Stryker), Asahi Kasei Medical Co., Ltd., GE Healthcare, Cardiac Science Corporation, Stryker Corporation, Zoll Medical Corporation, PRIMEDIC, Sorin Group, Biotronik Se & Co.Kg, Boston Scientific Corporation among others. To enhance their market position in the global automated external defibrillators market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in 2018, Defibtech LLC received a premarket approval application (PMA) for all Lifeline and ReviveR AED models for sale in the U.S.
- In the June 2019, Philips announced that the U.S. Food and Drug Administration (FDA) has approved the company’s premarket approval (PMA) application for its HeartStart Home defibrillator (model M5068A) and HeartStart OnSite defibrillator (model M5066A). As per the company, these models are the only over-the-counter automated external defibrillators (AEDs) available to consumers in the U.S.
- In the April 2019, Stryker Corporation announced the launch of LIFEPAK CR2 automated external defibrillator with LIFELINKcentral AED program manager, in the United States, which was previously released in Europe and Canada in 2017, and in Japan in 2018.
Semi-automatic segment held the largest market share of USD 854.08 Million in 2017
The technology segment is classified into semi-automatic and fully-automatic. The semi-automatic segment is dominating the automated external defibrillators market and was valued around USD 854.08 Million in 2017. The semi-automatic automated external defibrillators differs from automatic automated external defibrillators, it has a button for the rescuer to push if a shock is required, where a fully-automatic AED automatically shocks the patient if a shockable heart rhythm is detected. Semi-Automatic AED offers many benefits such as it offers the control over the when the shock is administrated.
The standard automated external defibrillator anticipated to grow at the highest CAGR of 19.01% over the forecast period
Size segment includes standard automated external defibrillator and pediatric automated external defibrillator. The standard automated external defibrillator based segment is dominated and is anticipated to grow with the highest CAGR of 19.01% over the forecast period. Growing geriatric population and high prevalence of sudden cardiac arrest in adults all over the world are the key factors to drive the demand for the standard automated external defibrillator segment.
The hospitals segment held the largest market share of 39.72% in 2017
End user segment is divided into hospitals, public access, emergency medical services, homes, work spaces, and private cardiac clinics. The hospitals segment held the largest market share of 39.72% in 2017. Automated external defibrillator are widely deployed in the hospitals, as most of the staff do not have the rhythm recognition skills to use a manual defibrillator. The spread of automated external defibrillators (AEDs) in hospital is mainly aimed to allow for a shock-delivery within three minutes, to increase the efficiency of treatment.
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Regional Segment Analysis of the automated external defibrillators Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global automated external defibrillators market with 47.01% market share in 2017 where as Europe region is second fastest growing region in the forecast period. Rising elderly population, early adoption of advanced healthcare facilities, and high economic development are some of the factors that led to the growth of automated external defibrillators market in this region. Automated external defibrillators are becoming quite common in workplaces and public places across North America, further boosting the growth of market. Many Government organization and healthcare institutions are promoting the use of AEDs. For instance, The Heart and Stroke Foundation of Canada along with major US Medical Response organizations (Red Cross, Environmental Medicine, and the American College of Occupational) all encourage the placement of AEDs, where use can be provided within 3 minutes of a cardiac event. In addition to this, increasing aging population in the European region is offering growth opportunities for the global automated external defibrillators market over the forecast period.
About the report:
The global automated external defibrillators market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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