External Defibrillators Market

Market Overview

The global external defibrillators market size was valued at USD 3.19 billion in 2022. It is estimated to reach USD 7.10 billion by 2031, growing at a CAGR of 9.30% during the forecast period (2023–2031). The introduction of technological advancements in defibrillators and the increasing incidence rate of SCA drives external defibrillators market growth.

Those needing assistance due to a sudden cardiac arrest can receive it from an AED or automated external defibrillator. It is a sophisticated, user-friendly medical apparatus that can evaluate the heart's rhythm and, if necessary, administer an electrical shock, also known as defibrillation, to assist the heart in re-establishing a healthy rhythm. Three subcategories lie under defibrillators: AEDs, ICDs, and WCDs. No special training is required to use a defibrillator; anyone can do so. It will guide you through attaching the defibrillator pads straightforwardly and concisely as soon as you switch them on. The apparatus analyses the cardiac rhythm and will only instruct you to administer a shock if one is required.

A cardioverter-defibrillator implant, or an ICD, is a small battery-powered device inserted into the thorax. It is designed to detect and halt irregular heart rhythms, also known as arrhythmias. The implantable cardioverter defibrillator (ICD) is a device that continuously monitors the heartbeat and, if necessary, delivers electric shocks to the patient to restore a normal cardiac rhythm. If the individual is not breathing, has no pulse, or has an irregular heartbeat, prepare to use the automated external defibrillator as soon as feasible.

Market Dynamics

Global External Defibrillators Market Drivers:

Technological Advancements

The introduction of technological advancements in defibrillators drives external defibrillators market expansion. AEDs have been upgraded with various new features, including LCD screens, rechargeable batteries, voice prompts, and new forms of shocks. Consequently, manufacturers have increasingly prioritized the development of innovative AEDs. Kestra Medical Technologies, Inc. announced in August 2021 that the U.S. FDA had granted premarket approval for the ASSURE Wearable Cardioverter Defibrillator system. The company devised the ASSURE system using the most recent technology available.

Similarly, Heart Hero and the American Heart Association (ACC) collaborated to substantially impact survival rates after Sudden Cardiac Arrest (SCA). The ACC seeks to transform cardiovascular care and improve heart health through Heart Hero's portable AED technology. Through this new AED technology, ACC and Heart Hero have begun providing a lifeline to those in regions where AEDs are not readily available.

Increasing Incidence Rate of SCA

Despite advancements in prevention and treatment, sudden cardiac death remains a primary cause of mortality and is responsible for nearly half of all cardiovascular-related deaths. The rising incidence of SCA and its associated risk factors is anticipated to increase demand for AEDs. Globally, SCA is one of the primary causes of death. Moreover, it is the leading cause of natural fatalities in the United States, accounting for approximately 325,000 adult deaths annually. SCA is also responsible for fifty percent of all fatal cardiac conditions.

Additionally, obesity and hypertension are risk factors for SCA. Obesity remains a significant public health concern. During the first few months of the COVID-19 pandemic, obesity rates among children increased substantially, according to a study published online in Paediatrics. Approximately 80% of sudden cardiac fatalities are attributable to coronary artery disease. According to the CDC, it is the most prevalent form of cardiac disease, affecting approximately 18.2 million adults aged 20 and older. Therefore, AEDs are essential because they increase the likelihood of survival. They can restore normal heart rhythm to victims of sudden cardiac arrest.

Global External Defibrillators Market Restraint:

Concerns Regarding the Utilization of Implantable and Automated External Defibrillators

Public access defibrillators, also known as automated external defibrillators, are frequently discovered to be related to a variety of technical difficulties, including hardware defects and faulty battery components. Similarly, broken wiring, electronics, and connectors are reported regularly. The gadget will frequently fail to deliver an electric shock within the prescribed time because of these faults. When making a purchase decision, emergency care providers or public access facilities will frequently adopt well-known brands with a demonstrated track record of high-quality products. Therefore, the presence of techno-commercial challenges associated with ICDs and AEDs is a significant element that inhibits the expansion of the favorable market for developing vendors and local distributors worldwide.

Global External Defibrillators Market Opportunities:

Increased Mergers and Acquisitions Among Market Participants

Several of the top industry players in the defibrillator market are swiftly purchasing other market participants to widen their product offerings on a global basis. This is being done to compete more effectively in the global market. These acquisitions help manufacturers of implanted and external defibrillators improve their technical efficiencies, strengthen their financial base, penetrate emerging markets, and provide patients with various products from which to choose. Despite the growing cost challenges in the business, defibrillator manufacturers can maintain their profit margins and enhance their global presence through acquisitions. This will allow them to compete more effectively.

Regional Analysis

Based on region, the global external defibrillators market share is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global external defibrillators market shareholder and is estimated to exhibit a CAGR of 8.7% over the forecast period. The United States of America and Canada make up the market in North America. It is projected that the region would experience growth on a scale not seen before as a result of programs that support the deployment of public access AEDs and other development activities by key market competitors. The product establishes a connection to an AED program manager known as LIFELINK central, which enables the AED manager of an organization to remotely monitor and manage any device readiness concerns that may arise. Additionally, the device can send near real-time email warnings when linked to a Wi-Fi network. In addition, important factors predicted to fuel external defibrillators market growth include technological and product breakthroughs.

Europe is anticipated to exhibit a CAGR of 10.2% over the forecast period. The market for external defibrillators in Europe is anticipated to experience significant growth in the future. This can be linked to the well-established healthcare infrastructure, the huge aging population prone to cardiovascular adverse events, and the local presence of significant firms. The European Emergency Number Association (EENA) asserts that every member state of the European Union follows the European Medical Devices Directive. However, the laws governing AEDs at the national level vary greatly from country to country. In a survey conducted by EENA, respondents from 17 different EU nations were asked about their opinions regarding the need for training to use an automated external defibrillator (AED). The overwhelming majority of responders from all 18 EU nations felt it was unnecessary to notify authorities about AEDs. Nevertheless, most responders (representing 13 different EU countries) indicated that AEDs had been mapped in their respective nations.

Asia-Pacific had a sizeable portion of the market due to significant corporations, the widespread use of external defibrillators in key regions, and increasing penetration in emerging economies. Zoll, a branch of Asahi Kasei and a powerful corporation in the market for external defibrillators, offers a broad product selection and an extensive distribution network. Both of these factors contribute to Zoll's position as a market leader. On the other hand, external defibrillators are gaining popularity in developing economies such as China.

In Latin America, more nations are adopting regulatory frameworks to enhance the accessibility of AED in public and private spaces, according to the American Heart Association, Inc. Both the general public and policymakers are becoming more aware of cardiac arrest. For example, Colombia created a law to control the use of AEDs in busy areas. The law is focused on installing AEDs depending on epidemiologic risk, population size, and activity. Other Latin American nations like Panama, Chile, Argentina, Puerto Rico, Uruguay, and others have similar legislation in effect. Throughout the projection period, key businesses' increasing investments, favorable legislation, and increased public awareness of heart health will impact market growth the most.

In the Middle East and Africa, it is anticipated that expanding defibrillator deployment, better healthcare infrastructure, and rising cardiovascular event awareness will drive market growth. For instance, the American University of Beirut has launched an AED program in Lebanon that entails the targeted installation of roughly 15 AEDs on-site, training provided by the Lebanese Red Cross, and the designation of persons for routine readiness checks.

Segmental Analysis

The global external defibrillators market is bifurcated into product and end-user.

Based on the product, the global external defibrillators market is bifurcated into manual, automated, and wearable cardioverter defibrillators. 

The automated segment owns the highest market share and is predicted to exhibit a CAGR of 9.4% over the forecast period. The market for automated external defibrillators is the one that is expanding the fastest. This is due to an increase in the prevalence of lifestyle disorders such as hypertension, obesity, diabetes, and dyslipidemia, which are significant risk factors for cardiovascular disease. The American Heart Association reports that persons with congestive heart failure and those who have experienced their first cardiovascular stroke have blood pressure readings of more than 140/90 mmHg. The global geriatric population rise is another important factor boosting market expansion. This is brought on by an increase in cardiovascular disease in those 75 and older, which is linked to a steady decline in the structure and function of the heart due to chronic illnesses. Thus, it is anticipated that there will be an increase in heart disease cases due to the rapidly expanding senior population worldwide.

Based on end-users, the global external defibrillators market is divided into hospitals, prehospital, public access, alternate care, and home healthcare. 

The hospitals segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 9.2% over the forecast period. The hospital segment dominated home healthcare and other segments. This is because hospitals have the majority of resources and medical equipment needed to treat and diagnose cardiovascular illness, including AEDs. Another factor driving market expansion is the increased demand for external defibrillator devices among patients with congestive heart failure and cardiovascular disease. Hospitals and cardiac centers are where most implanted cardioverter defibrillator procedures occur. Defibrillators are most frequently found in intensive care, emergency, and critical care units. The most prevalent defibrillators utilized in these facilities are implantable cardioverters and external defibrillators (manual and automated). The market is partly expanding because automated external defibrillators are used more often in hospitals.

Recent Developments

• October 2023- The Murcia Health Service took the initiative to improve medical care for patients with palpitations, arrhythmias, and strokes by acquiring 80 state-of-the-art Holters linked to a web server that allowed cardiologists to interpret and read these examinations from any location, automatically integrating the results into the electronic patient record.
• July 2023- Shenzhen Mindray Bio-Medical Electronics Co Ltd had agreed to acquire a 75% equity interest in DiaSys Diagnostic Systems GmbH from Gorka Holding GmbH through Mindray Medical Netherlands BV, a wholly-owned subsidiary of Mindray’s wholly-owned subsidiary MR Global (HK) Ltd, for an all-cash preliminary purchase price of approximately EUR 115 million (USD 123).