The external defibrillators market is estimated to expand by US$ 3.3 billion in 2022 and is forecast to reach US$ 8.8 billion by 2032, according to Future Market Insights’ research. Moreover, CAGR of 10.4% market growth is projected from 2022 to 2032, which is significantly higher than growth rates in the past. The market is fueled by a number of factors, including the rising prevalence of cardiac disorders like arrhythmias and bradycardias, among others, the increase in the geriatric population, the adoption of cutting-edge technology, growing government and private manufacturer investments, and rising cardiovascular disorder awareness campaigns. Manual external defibrillators are expected to generate the largest revenue, with a CAGR of around 11.4% from 2022 to 2032.
The External Defibrillators Market refers to the industry that manufactures and sells devices used for defibrillation, which is a life-saving technique to restore normal heart rhythm in individuals experiencing sudden cardiac arrest (SCA). External defibrillators are portable devices that deliver an electric shock to the heart, helping to reset its electrical activity.
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The market for external defibrillators has experienced significant growth in recent years due to several factors. These include increasing awareness about the importance of immediate defibrillation in cardiac emergencies, advancements in defibrillator technology, and the rising incidence of cardiovascular diseases worldwide.
There are several types of external defibrillators available in the market, including automated external defibrillators (AEDs), manual external defibrillators, and wearable defibrillators. AEDs are the most commonly used type and are designed to be user-friendly, allowing even non-medical personnel to operate them effectively.
Key Takeaways: External Defibrillators Market
- Market Growth: The external defibrillators market has experienced significant growth in recent years. Factors such as an increasing prevalence of cardiovascular diseases, rising awareness about the importance of defibrillation in saving lives, and advancements in technology have contributed to this growth.
- Product Types: External defibrillators are classified into two main types: automated external defibrillators (AEDs) and manual external defibrillators. AEDs are designed for use by non-medical personnel and provide step-by-step instructions for use, while manual defibrillators are typically used by medical professionals.
- Rising Demand for AEDs: AEDs have gained popularity due to their ease of use and ability to provide immediate assistance to individuals experiencing sudden cardiac arrest. They are commonly found in public places, such as airports, schools, and shopping malls, as well as in healthcare settings. The increasing deployment of AEDs in public spaces has contributed to the market growth.
- Technological Advancements: The external defibrillators market has witnessed advancements in technology, including the development of portable and lightweight devices with enhanced features. Integration of advanced algorithms, voice prompts, and real-time feedback systems has made these devices more user-friendly and efficient.
- Increasing Focus on Public Access Defibrillation (PAD) Programs: Public access defibrillation programs aim to increase the availability of AEDs in public spaces and train individuals to use them effectively. Governments and healthcare organizations are increasingly focusing on implementing PAD programs to improve survival rates for sudden cardiac arrest.
- Regional Market Trends: The demand for external defibrillators varies across different regions. Developed regions, such as North America and Europe, have a higher adoption rate of these devices due to better healthcare infrastructure and awareness. However, emerging economies in Asia-Pacific and Latin America are also witnessing increasing demand as healthcare systems improve and awareness spreads.
- Regulatory Environment: The external defibrillators market is subject to regulatory standards and approvals to ensure the safety and efficacy of the devices. Regulatory bodies, such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), oversee the approval process and establish guidelines for product development and marketing.
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Competitive Analysis:
By Prominent Market Players:
- Medtronic
- Stryker Corporation
- Koninklijke Philips N.V.
- Asahi Kasei Corporation
- Boston Scientific Corporation
- Abbott
- Nihon Kohden
- MicroPort
- BIOTRONIK
- CU Medical Systems
- METsis Medikal
- Mediana Co. Ltd.
External Defibrillators Market: Segmentation
By Application Type:
- Manual External Defibrillators
- Automated External Defibrillators
- Semi-Automated ED
- Fully Automated ED
- Wearable Cardioverter Defibrillators
By Region
- North America
- Latin America
- Europe
- APAC
- MEA
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