The global automated external defibrillators market size was valued at USD 717 million in 2021. It is estimated to reach USD 1,621 million by 2030, growing at a CAGR of 9.49% during the forecast period (2022–2030).
Automated external defibrillators are life-saving equipment used to correct the cardiac rhythm. AEDs are portable devices designed to treat sudden cardiac arrest, a medical condition where the heart stops beating suddenly and unexpectedly. The combination of cardiopulmonary resuscitation and early defibrillation is effective in saving lives when administered within the first few minutes following cardiac arrest. Typically, this transpires when severance in the heart's electrical activity results in a rapidly fast or irregular heartbeat. Either of these irregular heart rhythms prevents the heart from pumping efficiently and results in cardiac arrest.
Devices and equipment like battery and pad electrodes are required for the AED to identify and process an electrocardiogram and administer an electrical shock. The major factors driving the market's growth for automated electronic defibrillators are the increasing prevalence of cardiac diseases, the rising geriatric population, technological advancements in the field, and the growing investment by market participants. In addition, the majority of sedentary lifestyles and the increase in the global geriatric population are causing a hike in the incidence of cardiac diseases.
According to the Journal of Cardiovascular Development and Disease article titled 'Cardiovascular Risks Associated with Gender and Aging,' risk factors closely associated with advanced age, such as frailty, obesity, and diabetes, compound cardiovascular disease risks. These studies indicate that the likelihood of cardiovascular diseases increases with age. Consequently, increasing AED usage in the near future.
The growing cases of cardiac diseases across various age groups caused by traumatic work conditions, sedentary lifestyles, and rising consumption of tobacco, alcohol, and illicit drugs are projected to boost the automated external defibrillator market during the forecast period. As per a report published in January 2020 in the International Journal of Stroke titled "Global epidemiology of atrial fibrillation: An escalating epidemic and public health challenge," the worldwide incidence of atrial fibrillation were 37,574 million cases (0.51 % population), and it has increased by 33% over the past two decades.
Future projections indicate that the total burden of atrial fibrillation may rise by more than 60% by 2050. This escalating prevalence of arrhythmia generates demand for automated external defibrillators, thereby driving the growth of the studied market over the forecast period. Furthermore, the rising incidence of cardiovascular disease-related deaths is a factor in the market's expansion. According to a June 2021 article by the World Health Organization (WHO), Cardiovascular diseases are one of the prime causes of death worldwide.
In addition, it is estimated that 17.9 million people died from CVDs in 2019, representing 32% of all deaths worldwide. Heart attack and stroke accounted for 85 % of these deaths. Such a high number of fatalities generates demand for devices that assist in cardiac rhythm corrections and drive market expansion.
Furthermore, according to the American Heart Association (AHA) 2019 Heart Disease and Stroke Statistical Update, the incidence of cardiovascular diseases between the ages of 60 and 79 was 77.2% in men and 78.2% in women. The incidence of CVD was disclosed to be 89.3 % in males and 91.8 % in females among adults older than 80 years. The market is growing due to the high prevalence of cardiac disease in the elderly. As a result of such variables, it is anticipated that the market will expand over the forecast period.
The incidence of advanced medical infrastructure, favorable government and public authority initiatives regarding product development, and relatively high healthcare expenditures pave the way for the progress of technology in healthcare, thereby driving the growth of the market for automated external defibrillators over the forecast period. In addition, market participants are involved in developing a comprehensive end-to-end method that integrates innovative hardware and sophisticated software to expand the pre-hospital scope of care for first responders.
Royal Philips, for instance, introduced its remote monitoring and defibrillator solution (Tempus ALS) for pre-hospital settings in the United States in July 2020. The solution provides bidirectional, real-time data transfer for remote patient monitoring, giving EMS personnel a new approach to pre-hospital care. Such advancements in the defibrillator industry are driving market expansion. Moreover, the innovations of startups contribute significantly to the expansion of the market.
Regulatory authorities formed by the governments of countries worldwide regulate the automated external defibrillators market through strict regulations and policies to ensure access to safe, appropriate, and affordable devices as well as provide the product's capacity to fulfill the medical purpose for the public, which affects the vendors in terms of late approvals, leading to delays in product launches and sometimes, product recalls which are costly.
The licensing, evaluation, surveillance, and control of medical devices have become significant challenges for the national regulatory authorities in the face of a constantly rising number of novel products, complex quality concerns, and new technical issues arising from rapid scientific advances. As a result, the governments of different countries are implementing new regulations that are even more stringent than before, thereby affecting market growth.
In May 2017, Europe, for instance, enacted the Medical Device Regulation (MDR), which replaced the Medical Device Directive (MDD) and imposed a framework of rules for developing and selling medical equipment to manufacturers. According to new MDR regulations, all manufacturers must comply with significantly more stringent laws and regulations. There were indications that they may be even more rigorous than the FDA system in the United States. This affected manufacturers regarding product approval and recalls, thereby obstructing the growth of the studied market in the region.
With the development of technology and the rising demand for automated external defibrillators, market participants are continuously increasing their investment in the field, propelling the analyzed market’s growth over the next few years. MicroPort Cardiac Rhythm Management Limited, a subsidiary of MicroPort Scientific Corporation focused on developing and commercializing implantable pacemaker and defibrillator equipment and associated innovations to manage cardiac rhythm disorders, entered into definitive agreements in July 2021 in connection with its USD 150 million Series C financing. Such increasing investment and collaborations by market participants are driving market expansion.
The key players in the market for automatic external fibrillation are increasing their investment in research and development to create new products. According to Philips' annual report for 2020, the company incurred research and development expenses totaling EUR 1,759 million in 2018, EUR 1,884 million in 2019, and EUR 1,915 million in 2020. This increasing investment is driving market expansion.
The global automated external defibrillators market share is bifurcated into type, end-user, and region.
Based on type, the global automated defibrillators market is segmented into Semi-Automated External Defibrillators and Fully Automated External Defibrillators.
Semi-Automated External Defibrillator commands the largest share in the market and is expected to grow at a CAGR of 9.32% during the forecast period. Semi-automated defibrillators analyze the heart's rhythm to determine whether a shock is required. If an abnormal heart rhythm that needs a shock is identified, the device alerts the user and guides them to press a button to deliver a defibrillation shock.
Throughout the forecast period, the market segment's growth will be driven by factors such as technological advancements in the field, an increase in the prevalence of diseases, and increased investment by market players. The market segment is also helped by the progression of technology and the incorporation of software, enabling market players to manage the market condition better and raise their foothold by developing new products, collaborating with other businesses, and expanding into new geographical areas.
Fully Automated External Defibrillators analyze the heart's rhythm and, if the device's software so determines, deliver a defibrillation shock without any intervention from the user. It is anticipated that factors such as advancements in the field and rising disease burdens, in conjunction with government initiatives to boost the accessibility of fully automated external defibrillators, will drive the growth of this market segment throughout the forecast period.
Based on end-user, the global automated defibrillators market is segmented into Hospitals/Clinics, Home Care, and Others.
Hospitals/Clinics are the largest market shareholder and are expected to grow at a CAGR of 8.95% by 2030. Hospitals and clinics are well-equipped with cutting-edge technology for improved and expedited care. The hospital sector is experiencing rapid expansion due to an incrementing number of individuals with cardiovascular disease, which is expected to follow up during the forecast period, driving the segment's expansion. The prevalence of cardiac diseases is rising dramatically, increasing the likelihood of sudden cardiac arrests. Further, the advancement of technology in the industry and the support of public authorities are driving the expansion of the market segment.
In addition, the hospital's automated external defibrillator is an industrial-strength device capable of delivering a specific charge and outfitted with different diagnostic tools to monitor the individual's heart performance. In addition, the development of AEDs for emergency purposes is contributing to the segment's growth over the coming years. the Journal of the American Medical Association, 2019, reported that cardiac arrest in hospitals in the United States was approximately 2,90,000 per year. The demand for AEDs in hospitals and clinics is expected to increase during the forecast period due to this increase in the prevalence of diseases.
The other end-users are pre-hospital care providers, emergency medical service (EMS) providers, and public access settings. The growth of this segment is driven by several factors, including the growing burden of diseases and increasing initiatives for emergency care undertaken by government agencies and market players.
Region-wise, the global automated external defibrillators market share is segmented across North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
North America acquires the largest position in the market and is expected to grow at a CAGR of 9.32% by 2030. The US contributes heavily to the region's growth. The market for automated external defibrillators in the US is increasing due to the prevalence of cardiovascular diseases, new products, and key market players in the region. According to statistics published in January 2019 by the American Heart Association, nearly half of all Americans have cardiovascular diseases, such as hypertension, coronary heart disease, etc., which is expected to increase the cases of cardiovascular patients in the country, driving the growth of the AED market.
Moreover, according to a report published by the Centers for Disease Control and Prevention in September 2021, approximately 659,000 people in the United States die annually from heart diseases, and approximately 805,000 people have a heart attack annually, of which 605,000 had their first heart attack, and 200,000 had already had one during the year. This high incidence of heart attacks is anticipated to drive the expansion of the market understudy in the United States. Thereby fostering growth in the region.
Europe is the second-largest region and is expected to generate a revenue of USD 603 million at a CAGR of 9.70% by 2030. Germany and France are expected to contribute mainly to the developing European AED market. Along with the launching of new products and the extensive research and development infrastructure in Germany, the high prevalence of cardiovascular diseases in Germany is the primary factor responsible for the expansion of the market for automated external defibrillators (AEDs).
In addition, Germany is one of the leading markets for medical technology in Europe, thanks to the substantial investments made by the public and private sectors in various research and development endeavors. It is anticipated that this significant investment in research and development will be profitable for the AED market. The presence of intensive research organizations in the country and the rising burden of cardiovascular diseases will also drive the growth of the automated external defibrillators market in France throughout the forecast period.
Asia-Pacific is the fastest-growing region, owing to Japan and China. China's increasing work intensity and lifestyle shifts are anticipated to contribute to the market's growth for automated external defibrillators (AEDs), along with the rising demand for and awareness of AEDs in the workplace. Due to the growing prevalence of cardiovascular diseases and cases of unexpected cardiac deaths in the country, the central government of China, in collaboration with the provinces, is expected to expand access to automated external defibrillators (AEDs) across the country. This effort aims to lower the mortality rate associated with cardiac arrests by using AEDs in emergencies.
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