Automated External Defibrillator Market Size
The estimated value of the global automated external defibrillator market size was around USD 1.68 billion in 2022. It was projected that this market size would increase to around USD 3.52 billion by 2030, at a compound yearly growth rate (CAGR) of approximately 8.6% between the years 2023 and 2030.
What is an Automated External Defibrillator?
A portable medical device called an Automated External Defibrillator (AED) is used to treat sudden cardiac arrest (SCA) in emergency situations. If not treated right away, SCA, which happens when the heart unexpectedly stops functioning, can be fatal.
The AED is made to examine the heart’s rhythm and administer an electric shock to bring it back to normal. It accomplishes this by the defibrillation procedure, which includes giving the heart a regulated electric shock. The electric shock aids in depolarizing the cardiac muscle and enables the body’s own pacemaker to resume a regular rhythm.
AEDs are simple to operate and frequently created for non-medical staff to utilise, such as bystanders or first responders. The typical component of these devices is a portable, light-weight gadget that has visual and audible cues to lead the user through each step of operation. Built-in sensors in the apparatus analyse the victim’s heartbeat to determine whether a shock is necessary.
In order for an AED to monitor the victim’s cardiac rhythm, the rescuer must fasten electrode pads to the victim’s chest. The AED will signal the rescuer to stand back and administer a shock if it notices a rhythm that can be shocked. The goal of the shock is to stop the irregular heartbeat and allow the heart to reset and start working normally again.
AEDs are simply one link in the chain of survival for cardiac arrest, it is vital to remember that. Emergency medical services (EMS) access early on and prompt cardiopulmonary resuscitation (CPR) are also essential. When combined with CPR and quick medical attention, AEDs can dramatically increase the likelihood of survival.
Automated External Defibrillator Market: Competitive Analysis
The global automated external defibrillator market is led by players like:
- Philips Healthcare ZOLL Medical Corporation
- Cardiac Science Corporation
- Medtronic
- Physio-Control (now part of Stryker Corporation)
- Schiller AG
- Nihon Kohden Corporation
- Defibtech LLC
- HeartSine Technologies (now part of Stryker Corporation)
- CU Medical Systems Inc.
- Mindray Medical International Limited
- Progetti Srl
- Fukuda Denshi Co. Ltd.
- Welch Allyn (now part of Hillrom)
- Boston Scientific Corporation.
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Opportunities in the Market for Automated External Defibrillators (AEDs)
Because of a variety of variables, the market for automated external defibrillators (AEDs) features a number of lucrative opportunities. The following are some opportunities that may present themselves in the market for AEDs:
Increasing people’s understanding and Training: There is an increasing understanding among the general people regarding the significance of automated external defibrillators (AEDs) in terms of the ability to save lives in the event of cardiac emergencies. Due to the increasing awareness, there have been more requests for AEDs and training programmes from both people and organisations. As a direct consequence of this, there is a growing need for AEDs in a variety of settings, including homes, workplaces, and public areas.
programmes by Governments: Governments and healthcare organisations all around the world are currently working to adopt programmes that will improve public access to automated external defibrillators (AEDs). Installation of automated external defibrillators (AEDs) in public spaces, such as airports, shopping malls, sports arenas, and train stations, has been obligatory in a number of nations. Because of these activities, there will be a large increase in demand for automated external defibrillators (AEDs) and services associated to them, which will open new opportunities for manufacturers and suppliers.
The average age of the world’s population is increasing, which means that older people have a greater chance of developing cardiovascular diseases. The rising number of elderly people in the world is helping to drive up demand for automated external defibrillators (AEDs), given that sudden cardiac arrest is more common in this age group. It is anticipated that there would be an increased need for automated external defibrillators (AEDs) in healthcare facilities, nursing homes, and assisted living centres due to the expansion of the senior population.
Technological Developments New possibilities for innovation and expansion of the market are being opened up as a result of developments in AED technology. AEDs are currently being developed by manufacturers with improved features like as voice instructions in a variety of languages, visual aids, and real-time feedback on the quality of CPR being performed. These developments make AEDs easier to use, boost their effectiveness, and broaden the range of applications for which they are potentially useful.
The Market for Use in Homes: Historically, automated external defibrillators (AEDs) were largely located in public spaces and clinical facilities. Nevertheless, there is a developing market for AEDs that are intended for use in the house. More people are thinking about buying automated external defibrillators (AEDs) for their own personal usage now that user-friendly AED models and training programmes are available. This is especially important for people who already have known heart issues or for high-risk persons who live at home.
Developing Regions The market potential for AEDs is high in developing regions since these regions are in the process of improving their healthcare infrastructure and are becoming more aware of cardiac crises. There will be an increase in demand for automated external defibrillators (AEDs) to equip hospitals, clinics, and public areas as these regions continue to enhance their healthcare systems and invest in emergency medical services.
Integration with Telemedicine and the Internet of Things (IoT): Automated external defibrillators (AEDs) can be integrated with telemedicine systems and the technology behind the Internet of Things (IoT). Because of this integration, remote monitoring and aid can be provided in the event of a cardiac emergency. It enables medical experts to provide real-time guidance to lay rescuers or bystanders who are using an automated external defibrillator (AED), which increases the likelihood that resuscitation will be successful.
Increasing awareness, government initiatives, technology improvements, growing application areas, and the worldwide demographic shift are all factors that are driving opportunity in the market for automated external defibrillators (AEDs). These are possibilities that manufacturers, suppliers, and service providers in the automated external defibrillator (AED) business can capitalise on to fulfil the growing demand for these devices, which save lives.
Market Factors That Are Driving Demand for Automated External Defibrillators
The market for automated external defibrillators, also known as AEDs, is propelled forward by a number of variables that contribute to the market’s expansion and development. The following is a list of significant reasons that are driving the market for AEDs:
A significant reason propelling the growth of the automated external defibrillator (AED) market is the rising incidence of cardiac arrest cases that have been reported all over the world. A cardiac arrest is one of the major causes of mortality around the world, and automated external defibrillators (AEDs) are an important part of the process of delivering urgent intervention to restore a normal heart rhythm.
Increased Public Awareness of the Importance of Early Defibrillation There has been an increase in the amount of public awareness regarding the significance of early defibrillation in the process of saving lives during cardiac emergencies. AEDs have received more attention and promotion as a result of educational campaigns, training programmes, and other initiatives that have been undertaken by healthcare organisations.
Accessibility: There have been efforts made to improve the accessibility of automated external defibrillators (AEDs) in public spaces, businesses, and communities. A number of nations have passed laws and established regulations that call for the installation of automated external defibrillators (AEDs) in public places like airports, schools, and sports facilities. These actions increase the number of locations that stock AEDs and contribute to the expansion of the market.
Improvements in Defibrillator Technology Recent advances in technology have allowed for the production of defibrillators that are both more sophisticated and easier to operate. These devices frequently include features like voice prompts, visual help, and real-time feedback on the quality of the CPR being performed by the user. The need for AEDs is being driven by these technological improvements, which make the devices easier to use and more effective.
Initiatives taken by governments and regulations passed by regulatory bodies Governments and healthcare organisations all over the world have taken steps to enhance the public’s access to automated external defibrillators (AEDs). Legislation has been passed in several nations requiring that automated external defibrillators (AEDs) be readily available in particular organisations and public locations. The expansion of the market for AEDs is made more likely as a result of these steps taken by the government.
The average age of the world’s population is increasing, and people who are already in their senior years have a greater chance of developing cardiovascular diseases. The need for automated external defibrillators (AEDs) in healthcare facilities, nursing homes, and assisted living centres continues to rise as a direct result of the expansion of the elderly population. This shift in population size is one factor that leads to the expansion of the AED market as a whole.
Integration with Telemedicine and IoT: The integration of automated external defibrillators (AEDs) with telemedicine systems and the Internet of Things (IoT) technology offers the possibility of remote monitoring and help in the event of cardiac emergencies. Because of this integration, medical personnel are now able to provide real-time guidance to lay rescuers or bystanders, which significantly increases the likelihood that resuscitation will be successful.
Individuals’ Confidence and Willingness to Use AEDs Have enhanced Because of Training Programmes and Educational Initiatives The availability of training programmes and educational initiatives has enhanced individuals’ confidence and willingness to use AEDs. Training in cardiopulmonary resuscitation (CPR) and automated external defibrillators (AEDs) are gaining popularity as a result of investments made by communities and organisations.
These factors all contribute to the expansion of the market for automated external defibrillators (AEDs) because they raise levels of knowledge, accessibility, technological improvements, and overall preparation in the face of cardiac emergencies.
FREQUENTLY ASKED QUESTIONS
- What is an automated external defibrillator?
- Which key factors will influence the automated external defibrillator market growth over 2023-2030?
- What will be the value of the automated external defibrillator market during 2023-2030?
- What will be the CAGR value of the automated external defibrillator market during 2023-2030?
- Which region will contribute notably towards the automated external defibrillator market value?
- Which are the major players leveraging the automated external defibrillator market growth?
