Automated External Defibrillator Market Overview
Automated External Defibrillator Market size is estimated to reach $19.1 Bn by 2025, growing at a CAGR of 8.1% during the forecast period 2020-2025. An automated external defibrillator is an electric device that is used in diagnosis of the heart rhythms and if any issue with the heart beat, the automatic electric shocks is produced by the device to make heartbeat back to normal. This automated external defibrillator helps the heart to re-establish of effective rhythm by electricity application. These automated devices need less training to use and help in the diagnosis of the heartbeat and helps in application of shock if needed. Increased cardiovascular diseases and increased health concern among people are driving the market of automated external defibrillator market during the forecast period 2020-2025.
Geographically, North America’s Automated External Defibrillator Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the increasing heart problems in the people of this region.
The increase in aging population, rise in cardiovascular issues among people and increased health care expenditure are some of the factors driving the market growth
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Automated External Defibrillator Market report.
High investment by manufacturers in research and development activities and raising awareness among the growing population about Automated External Defibrillator is driving the market during the forecast period 2020-2025.
By Product Type – Segment Analysis
The global Automated External Defibrillator Market based on product type has Semi-automated External Defibrillators, Fully automated External Defibrillators and Wearable Defibrillators. Fully automated External Defibrillators is set to be fastest growing with a CAGR of 9.32% during the forecast period 2020-2025. This is owing to the advanced technology options like an automated diagnosis of heart rhythm and automatic electric shocks if needed to enable the heart rhythm back to normal. Semi-automated are set to have good growth but lack of knowledge among the people of its usage is challenging during the forecast period 2020-2025.
By End-Users – Segment Analysis
The Application segment of Automated External Defibrillator Market has Hospitals, Clinics, Prehospital, Cardiac centers, Public Access Market, Alternate Care Market and Homecare. The Public Access Market segment registers for the highest market share in 2019 and is set to continue for the forecast period 2020-2025, owing to the increased number of people suffering from different cardiovascular diseases. The hospital and Clinics are also set to have growth owing to the increased aging population and increased health care by the people. Advancement of technology and introducing new devices to treat heart diseases are some of the factors which are driving the market in different segments during the forecast period 2020-2025.
By Geography – Segment Analysis
Based on Geography the global Automated External Defibrillator Market is segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America had a dominant share in terms of revenue in 2019 and it holds the largest market share of 39.1% during the forecast period 2020-2025, owing to the increased prevalence of cardiovascular diseases and increased health care expenditure. Europe is set to have a healthy growth owing to the increased research and development activities and availability of new technology. The increased population and high investment by the key players are driving the market in the region like Asia-pacific during the forecast period 2020-2025.
Drivers – Automated External Defibrillator Market
High prevalence of cardiovascular disorders
The increase in cardiovascular disorders and the increase in sudden attacks that are causing death to many the population are driving the usage of automated external defibrillators. Investments being made by the government and private organizations are other factors that are supporting the market growth during the forecast period 2020-2025.
Challenges – Automated External Defibrillator Market
Strict regulations by the government
The stringent regulation on Automated External Defibrillator by the government as many are facing death owing to the failure of defibrillators is challenging the market growth during the forecast period 2020-2025. Lack of awareness among the people about the usage of automated external defibrillators is hampering the growth of the market.
Automated External Defibrillator Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Automated External Defibrillator Market. Key companies of this market are ST. Jude Medical, Inc, Cardiac Science Corporation, Biotronik Se & Co.KG, Medtronic, Inc, Sorin Group, Koninklijke Philips NV, Nihon Kohden Corporation, Zoll Medical Corporation, Physio-Control, Inc, Boston Scientific Corporation, and others.
In April 2019, Stryker has launched a new defibrillation solution called as LIFEPAK CR2 defibrillator with LIFELINKcentral Automated external defibrillator program manager. This LIFEPAK CR2 is used to help the patients with fastest first shock when defibrillation is needed.
In February2018, Defibtech has got FDA Premarket approval for all Lifeline and Revivr automated external defibrillator models. These products provide customers with high quality and innovative offerings.