Automated external defibrillator market to surpass USD 1217.0M by 2028

The use of an automated external defibrillator, or AED, can save lives in cases of sudden cardiac arrest. It is a simple-to-use medical gadget that can assess the heart’s rhythm and, if necessary, shock the heart with electricity to help it regain a healthy rhythm. One can be revived from a sudden cardiac arrest with an AED. This generally happens when there is an interruption in the electrical activity of the heart, which results in a pulse that is either dangerously rapid or fast and irregular. A fundamental and essential part of treating sudden cardiac arrest is defibrillation. The use of AEDs is common when someone has a sudden cardiac arrest.

Market statistics
By the end of 2022, the market for automated external defibrillators is anticipated to be worth US$ 773.3 million.

Drivers
The global market for automated external defibrillators is predicted to develop at a faster rate than average over the forecast period as a result of increased AED usage due to the rising incidence of sudden cardiac arrests throughout the world. For instance, approximately 356,000 cardiac arrests occur outside of hospitals each year in the United States, and over 90% of them result in death, according to the American Heart Association. Additionally, according to the Canadian Centre for Occupational Health and Safety’s (CCOHS) June 2020 report, over 40,000 Canadians—roughly one every 12 minutes—and over 100 per day—die from sudden cardiac arrest.

Opportunities
Players in the worldwide automated external defibrillator market can benefit from attractive growth possibilities because of the increasing rate of cardiovascular diseases and the ageing population. The number of senior citizens is rising everywhere. Among those who are elderly, cardiovascular diseases (CVDs) are one of the most prevalent illnesses. For instance, as reported by WHO, 17.9 million people worldwide die from cardiovascular illnesses each year, making them the leading cause of mortality. Heart attacks and strokes account for more than four out of every five CVD fatalities, and one-third of these deaths happen before the age of 70.

Restraints
The development of the worldwide market for automated external defibrillators is anticipated to be hampered by strict laws and regulations governing these devices and a lack of public awareness about sudden cardiac arrest. For instance, in order to guarantee the quality and dependability of AEDs, manufacturers in the United States are obliged to get premarket approval for all AEDs. The US FDA advises customers to confirm that their AED has FDA approval. The FDA’s strictest premarket submission requirement is premarket approval (PMA).

Impact
Coronavirus infection raises major concerns for people who have cardiac conditions. AEDs might be the difference between life and death for a person with an underlying cardiac problem as Covid-19 spreads. Due to government-ordered closures to stop the virus’s spread during the Covid-19 pandemic, the majority of AEDs were rendered inoperable. In summary, the current pandemic had two effects on the development of the market for automated external defibrillators.

Key takeaways
The market for automated external defibrillators was valued at US$ 717.5 Mn in 2021 and is anticipated to grow at a CAGR of 7.8% from 2022 to 2028 to reach US$ 1,217.0 Mn.

Semi-automated external defibrillators, one of the analysis type segments, held the leading position in the global automated external defibrillator market in 2021, accounting for 71.3% share in terms of value; rising approval and the introduction of new products are anticipated to fuel the segment’s growth over the forecast period.

Market trends
The automated external defibrillator market is anticipated to increase as a result of industry participants introducing innovative AEDs. n September 2019, Mindray declared the release of the BeneHeart C Series automated external defibrillator (AED), which operates more intelligently and delivers shocks more quickly for better resuscitation results in cases of unexpected cardiac arrest.

The market for automated external defibrillators is predicted to expand as people’s knowledge of heart health rises. For instance, the Casa Grande Fire Department, the Ak-Chin Indian Community, and the PulsePoint Foundation collaborated to run a registration campaign for nearby automated external defibrillators in May 2022 in recognition of National CPR Awareness Week (AEDs).

Competitive landscape
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., ViVest Medical, BPL Medical Technologies Pvt. Ltd., Asahi Kasei Corporation, Mediana Co. Ltd., Stryker Corporation, CU Medical System Inc., Schiller AG, Koninklijke Philips, and Nihon Kohden Corporation are a few of the major companies active in the global automated external defibrillator market.

Recent developments
To gain a foothold in the Thai market, Zoll Medical announced the launch of 3 Automated External Defibrillator (AED) models in September 2021. This predicted an increase in Thailand’s AED demand to 10,000 units.

After receiving FDA premarket clearance for the device, Stryker released their Lifepak CR2 defibrillator with LifelinkCentral AED programme management in April 2019. The recently released Lifepak CR2 AED is equipped with cutting-edge technology, such as CPRInsight, which enables users to continue chest compressions while an ECG is being analysed and potentially increase survival rates. Coherent Market Insights