According to a new report published by Allied Market Research, titled, "External Defibrillators Market," The external defibrillators market size was valued at $2.7 billion in 2021, and is estimated to reach $5.2 billion by 2031, growing at a CAGR of 7% from 2022 to 2031.
Defibrillators are devices that restore a normal heartbeat by sending an electric pulse or shock to the heart. They are used for prevention and treatment of cardiac arrhythmia. Cardiac arrhythmia is defined as a heart disorder, in which heartbeats are uneven, either too slow or too fast. Defibrillators aim to restore the beating of heart, if it stops suddenly.
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The major factors that boost the market growth include, technological advancements such as advent of automated external defibrillators (AEDs) for public access places, rise in incidence of sudden cardiac arrest, and growth in awareness toward public access defibrillators globally. Moreover, improving healthcare attractiveness and rising demand for home care defibrillators, such as wearable cardioverter defibrillators and automated external defibrillators (AEDs) are ongoing external defibrillators market trends. The ability of the defibrillator device to diagnose early onset of ventricular tachycardia and ventricular defibrillation is expected to promote their demand. Nevertheless, cost-effectiveness, safety, high accessibility, and clinical value in preliminary treatment of sudden cardiac arrest strengthen the technological advancements in the defibrillators market. However, lack of awareness toward the availability of external defibrillator to prevent sudden cardiac arrest (SCA) and safety concerns related to automated external defibrillators are projected to hamper the market growth.
KEY FINDINGS OF THE STUDY
On the basis of external defibrillators industry study, the Automated External Defibrillator (AED) defibrillators segment among product type was the highest contributor to the market in 2021.
By end user, the hospitals segment dominated the market in 2021.
Region-wise, North America garnered the largest revenue share in 2021. However, rise in the number of installations of external defibrillators in hospitals, along with other public places like hotels, schools, railway stations, highways and others is anticipated to grow at the highest CAGR during the external defibrillators market forecast
The external defibrillators market size is studied on the basis of product type, end user, and region. On the basis of external defibrillators market analysis, the product type is divided into manual external defibrillator, automated external defibrillator (AED), and wearable cardioverter defibrillator (WCD). The Automated External Defibrillator (AED) defibrillators segment currently dominates the global external defibrillators market and is expected to continue during the forecast period owing to rise in the initiatives by major companies, growth in the number of adoptions of defibrillators at healthcare facilities, and the usage of several public access defibrillation programs. Automatic external defibrillators are further classified into semi-automated external defibrillator, and fully automated defibrillators.
Key Market Segments
By End User
Public Access Market
Alternate Care Market
Home
Hospitals
Pre-Hospitals
By Product Type
Manual External Defibrillator
Automated External Defibrillator (AED)
Semi-Automated External Defibrillator
Fully Automated Defibrillator
Wearable Cardioverter Defibrillator (WCD)
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Key Market Players
Nihon Kohden Corporation
Asahi Kasei Corporation
Koninklijke Philips N.V.
CU MEDICAL GERMANY GMBH
MEDIANA CO., LTD.
SHENZHEN COMEN MEDICAL INSTRUMENTS CO. LTD.
Stryker
GENERAL ELECTRIC COMPANY
Schiller Ag
Shenzhen Mindray Bio-Medical Electronics Co., Ltd