Defibrillation is a medical procedure used to treat life threatening conditions that affect the rhythm of the heart. The procedure involves delivery of an electric shock to the heart, which causes depolarization of the heart muscles and re-establishes normal conduction of the heart’s electrical impulse. The device that delivers the therapeutic shock to the heart is called a defibrillator.
External defibrillators are light weight and portable devices used to deliver therapeutic shock to a patient’s heart in life-threatening conditions, such as ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia. These devices form a vital tool to deliver a rapid response to the victims of cardiac arrest. Large scale demand for the installation of automated external defibrillators (AEDs) at public places to prevent fatal outcomes from sudden cardiac arrest (SCA) is the prime factor that drives the market growth.
The external defibrillators market witnesses tremendous growth owing to rise in focus toward public access defibrillator (PAD) by the public & private organizations and key players, which fuels the market growth. Other factors, such as rapid growth in geriatric population with elevated risk of targeted diseases, technological advancement for defibrillator devices, and increase in incidence of cardiovascular diseases drive the market growth. However, stringent regulations, increase in pricing pressure on players, and lack of awareness about sudden cardiac arrest (SCA) limit the market growth.
In addition, rise in demand for quality medical care, increase in R&D activities to develop medical devices, and increase in number of key market players to manufacture external defibrillators across the globe are a few factors that drive the growth of the external defibrillators market. Moreover, promotion of innovative next-generation external defibrillators to improve safety and effectiveness of devices, identification and addressing problems associated with devices approved by the Food and Drug Administration (FDA), and focus on the treatment of SCA are anticipated to create lucrative opportunities for the growth of the external defibrillators market.
However, lack of awareness about sudden cardiac arrest in developing nations is expected to hinder the growth of the external defibrillators market during the forecast period. Moreover, limited reimbursements in developed nations and lack of infrastructure, particularly in developing and underdeveloped countries are also expected to hinder the market growth.
The external defibrillators market is segmented on the basis of product type, end user, and region. On the basis of product type, the market is divided into manual external defibrillator, automated external defibrillator (AED), and wearable cardioverter defibrillator (WCD). Automatic external defibrillators are further classified into semi-automated external defibrillator, and fully automated defibrillators. On the basis of end user, the market is segregated into hospitals, pre-hospital, public access market, alternate care market, and home. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America garnered a major share in the external defibrillators market in 2021, and is expected to continue to dominate during the forecast period, owing to rise in the number of installations of external defibrillators in hospitals, along with other public places like hotels, schools, railway stations, highways and others. However, Asia-Pacific is expected to register highest CAGR of 8.9% from 2022 to 2031, owing to rising number of cardiovascular diseases, rising disposable incomes of developing countries like India, and China, rising healthcare costs, and recent improvements in the healthcare infrastructure.
The major players operating in the global external defibrillators market are Asahi Kasei Corporation, CU Medical System, GE Healthcare, Mediana, Nihon Kohden Corporation, Philips Healthcare, Schiller AG, Shenzhen Comen Medical Instruments Co. Ltd., Shenzhen Mindray Bio-Medical Electronics, Co., and Stryker Corporation. These players adopted product launch, collaboration, and merger & acquisition as their key developmental strategies.
External defibrillators are light weight and portable devices used to deliver therapeutic shock to a patient’s heart in life-threatening conditions, such as ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia. These devices form a vital tool to deliver a rapid response to the victims of cardiac arrest. Large scale demand for the installation of automated external defibrillators (AEDs) at public places to prevent fatal outcomes from sudden cardiac arrest (SCA) is the prime factor that drives the market growth.
The external defibrillators market witnesses tremendous growth owing to rise in focus toward public access defibrillator (PAD) by the public & private organizations and key players, which fuels the market growth. Other factors, such as rapid growth in geriatric population with elevated risk of targeted diseases, technological advancement for defibrillator devices, and increase in incidence of cardiovascular diseases drive the market growth. However, stringent regulations, increase in pricing pressure on players, and lack of awareness about sudden cardiac arrest (SCA) limit the market growth.
In addition, rise in demand for quality medical care, increase in R&D activities to develop medical devices, and increase in number of key market players to manufacture external defibrillators across the globe are a few factors that drive the growth of the external defibrillators market. Moreover, promotion of innovative next-generation external defibrillators to improve safety and effectiveness of devices, identification and addressing problems associated with devices approved by the Food and Drug Administration (FDA), and focus on the treatment of SCA are anticipated to create lucrative opportunities for the growth of the external defibrillators market.
However, lack of awareness about sudden cardiac arrest in developing nations is expected to hinder the growth of the external defibrillators market during the forecast period. Moreover, limited reimbursements in developed nations and lack of infrastructure, particularly in developing and underdeveloped countries are also expected to hinder the market growth.
The external defibrillators market is segmented on the basis of product type, end user, and region. On the basis of product type, the market is divided into manual external defibrillator, automated external defibrillator (AED), and wearable cardioverter defibrillator (WCD). Automatic external defibrillators are further classified into semi-automated external defibrillator, and fully automated defibrillators. On the basis of end user, the market is segregated into hospitals, pre-hospital, public access market, alternate care market, and home. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America garnered a major share in the external defibrillators market in 2021, and is expected to continue to dominate during the forecast period, owing to rise in the number of installations of external defibrillators in hospitals, along with other public places like hotels, schools, railway stations, highways and others. However, Asia-Pacific is expected to register highest CAGR of 8.9% from 2022 to 2031, owing to rising number of cardiovascular diseases, rising disposable incomes of developing countries like India, and China, rising healthcare costs, and recent improvements in the healthcare infrastructure.
The major players operating in the global external defibrillators market are Asahi Kasei Corporation, CU Medical System, GE Healthcare, Mediana, Nihon Kohden Corporation, Philips Healthcare, Schiller AG, Shenzhen Comen Medical Instruments Co. Ltd., Shenzhen Mindray Bio-Medical Electronics, Co., and Stryker Corporation. These players adopted product launch, collaboration, and merger & acquisition as their key developmental strategies.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the external defibrillators industry, market segments, current trends, estimations, and dynamics of the external defibrillators market analysis from 2021 to 2031 to identify the prevailing external defibrillators market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the external defibrillators market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global external defibrillators market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By End User
- Public Access Market
- Alternate Care Market
- Home
- Hospitals
- Pre-Hospitals
By Product Type
- Manual External Defibrillator
- Automated External Defibrillator (AED)
- Semi-Automated External Defibrillator
- Fully Automated Defibrillator
- Wearable Cardioverter Defibrillator (WCD)
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Nihon Kohden Corporation
- Asahi Kasei Corporation
- Koninklijke Philips N.V.
- CU MEDICAL GERMANY GMBH
- MEDIANA CO., LTD.
- SHENZHEN COMEN MEDICAL INSTRUMENTS CO. LTD.
- Stryker
- GENERAL ELECTRIC COMPANY
- Schiller Ag
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: EXTERNAL DEFIBRILLATORS MARKET, BY PRODUCT TYPE
CHAPTER 5: EXTERNAL DEFIBRILLATORS MARKET, BY END USER
CHAPTER 6: EXTERNAL DEFIBRILLATORS MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'External Defibrillators Market,' the external defibrillators market size was valued at $2.7 billion in 2021, and is estimated to reach $5.2 billion by 2031, growing at a CAGR of 7% from 2022 to 2031.Defibrillators are devices that restore a normal heartbeat by sending an electric pulse or shock to the heart. They are used for prevention and treatment of cardiac arrhythmia. Cardiac arrhythmia is defined as a heart disorder, in which heartbeats are uneven, either too slow or too fast. Defibrillators aim to restore the beating of heart, if it stops suddenly.
There are different types of defibrillator, such as implantable defibrillators and external defibrillators. External defibrillators are devices used to deliver therapeutic shock to a patient’s heart in life-threatening conditions, such as ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia.
The major factors that boost the market growth include, technological advancements such as advent of automated external defibrillators (AEDs) for public access places, rise in incidence of sudden cardiac arrest, and growth in awareness toward public access defibrillators globally. Moreover, improving healthcare attractiveness and rising demand for home care defibrillators, such as wearable cardioverter defibrillators and automated external defibrillators (AEDs) are ongoing external defibrillators market trends. The ability of the defibrillator device to diagnose early onset of ventricular tachycardia and ventricular defibrillation is expected to promote their demand. Nevertheless, cost-effectiveness, safety, high accessibility, and clinical value in preliminary treatment of sudden cardiac arrest strengthen the technological advancements in the defibrillators market. However, lack of awareness toward the availability of external defibrillator to prevent sudden cardiac arrest (SCA) and safety concerns related to automated external defibrillators are projected to hamper the market growth.
Automated external defibrillators (AEDs) are found in many public spaces, and designed to save the lives of people who experience sudden cardiac arrest. Even untrained bystanders can use these devices in case of an emergency. In addition, rise in incidence of sudden cardiac arrest, growing awareness among the general public about the use of defibrillators, and supportive initiatives by governments and healthcare organizations for effective use of defibrillation in hospitals and research centers.
The external defibrillators market size is studied on the basis of product type, end user, and region. On the basis of external defibrillators market analysis, the product type is divided into manual external defibrillator, automated external defibrillator (AED), and wearable cardioverter defibrillator (WCD). The Automated External Defibrillator (AED) defibrillators segment currently dominates the global external defibrillators market and is expected to continue during the forecast period owing to rise in the initiatives by major companies, growth in the number of adoptions of defibrillators at healthcare facilities, and the usage of several public access defibrillation programs. Automatic external defibrillators are further classified into semi-automated external defibrillator, and fully automated defibrillators.
By end user, the market is classified into hospitals, pre-hospital, public access market, alternate care market, and home. The hospitals segment dominated the global external defibrillators market in 2021 and is anticipated to be dominant in the market owing to ever-increasing volume of patients visiting hospitals, new business strategies adopted by key manufacturers, and growing adoption of external defibrillators by hospitals.
Region-wise, external defibrillators industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major external defibrillators market share in 2021, and is expected to continue to dominate during the forecast period.
Key findings of the Study
- On the basis of external defibrillators industry study, the Automated External Defibrillator (AED) defibrillators segment among product type was the highest contributor to the market in 2021.
- Region-wise, North America garnered the largest revenue share in 2021. However, rise in the number of installations of external defibrillators in hospitals, along with other public places like hotels, schools, railway stations, highways and others is anticipated to grow at the highest CAGR during the external defibrillators market forecast
Companies Mentioned
- Nihon Kohden Corporation
- Asahi Kasei Corporation
- Koninklijke Philips N.V.
- CU MEDICAL GERMANY GMBH
- MEDIANA CO., LTD.
- SHENZHEN COMEN MEDICAL INSTRUMENTS CO. LTD.
- Stryker
- GENERAL ELECTRIC COMPANY
- Schiller Ag
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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