The Automated External Defibrillator (AED) Market is rapidly growing due to the increasing prevalence of cardiovascular diseases and sudden cardiac arrests. AEDs are portable devices used to diagnose and treat life-threatening cardiac arrhythmias, and they have become essential tools in emergency medical care.
The market for AEDs will grow significantly due to the increasing number of government initiatives to improve access to AEDs in public places, such as airports, malls, and sports arenas. The rise in the worldwide geriatric population is also expected to drive market growth as older adults are at higher risk of experiencing cardiac events.
The market for an automated external defibrillator in 2021 was USD 1.71 billion, and by 2030 it will reach USD 3.68 billion, expanding at an 8.77% CAGR during the forecast period.
There is also a growing trend toward developing AEDs with enhanced features, such as improved connectivity and advanced monitoring capabilities. This trend will drive the adoption of AEDs in healthcare settings, as well as in homes and workplaces.
Market Dynamics
Drivers
- Increasing prevalence of cardiovascular diseases: The rising incidence of cardiovascular disorders, such as heart attacks and sudden cardiac arrests, is one of the major drivers of the AED market. AEDs are essential for treating cardiac arrhythmias, which can be life-threatening if left untreated.
- Growing awareness and initiatives to improve access to AEDs: There is an increasing awareness of the importance of AEDs in emergency medical care. Many governments and organizations are implementing initiatives to improve access to AEDs in public places. For example, in the US, many states have passed legislation requiring AEDs in public places such as schools and sports facilities.
- Technological advancements and improved features: There is a growing trend towards developing AEDs with enhanced features such as improved connectivity, advanced monitoring capabilities, and more user-friendly interfaces. These advancements are driving the adoption of AEDs in healthcare settings, homes, and workplaces.
Restraints
However, issues like strict rules, a lack of knowledge regarding sudden cardiac arrest, and a failure to take early remedial action may limit market growth during the forecast period.
Opportunity
Due to technological advancements and new product development, market participants are introducing new products at affordable prices. AEDs will provide several chances for market expansion in the future since they can reduce the high death rate associated with out-of-hospital cardiac arrests.
Market Segmentation
By Technology
In 2021, the fully automated external defibrillator market segment had most of the market share. This market’s expansion is due to cardiac problems, growing R&D spending, increased understanding and awareness of defibrillators in emerging countries, and a considerable increase in the elderly population. Since the prevalence of cardiac disorders is increasing, other factors such as stressful work conditions, sedentary lifestyles, and rising cigarette, alcohol, and drug misuse will propel market expansion for automated external defibrillators.
By End-User
Hospitals led the entire market because of the high demand for implanting ICDs in hospitals, which has been driving the expansion of this industry. Defibrillator installation, on the other hand, will improve market growth prospects.
Regional Analysis
North America is the largest regional market and will expand at a CAGR of 9.32% through 2030. The US is the primary contributor to the growth of the market in the region, driven by factors such as the high prevalence of cardiovascular diseases, the availability of new products, and the presence of key market players.
The statistics published by the American Heart Association in January 2019 highlight the significant burden of cardiovascular diseases in the US, with nearly half of all Americans affected by these conditions. This high prevalence is expected to drive the demand for automated external defibrillators, which are essential in the management of sudden cardiac arrest, a common complication of many cardiovascular diseases.
Asia-Pacific regional market is expanding quickly. The market for automated external defibrillators (AEDs) is expected to rise due to China’s changing lifestyle and work patterns, as well as increased interest in and knowledge of AEDs in the workplace.
Key Players
- Koninklijke Philips NV
- Asahi Kasei Corporation (ZOLL Medical Corporation)
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd
- Nihon Kohden Corporation
- Schiller AG
- Mediana Co. Ltd
- Stryker Corporation
- CU Medical System Inc.
- BPL Medical Technologies Pvt. Ltd
- ViVest Medical
The market for an automated external defibrillator in 2021 was USD 1.71 billion, and by 2030, it will reach USD 3.68 billion, expanding at an 8.77% CAGR during the forecast period. The growing elderly population, rising cardiovascular disease prevalence, and product innovation drive the global automated external defibrillators market growth.
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