External Defibrillators Market Size By Product (Manual External Defibrillator, Automated External Defibrillator {Semi-automated External Defibrillator, Fully-automated External Defibrillator}, Wearable External Cardioverter Defibrillator), By End-use, & Forecast, 2023 – 2032
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationExternal Defibrillator Market Size
External Defibrillators Market size was valued at around USD 3.2 billion in 2022 and is estimated to reach over USD 6.7 billion by 2032. The rising prevalence of heart failure, increasing advancements in product technology, surging incidence of sudden cardiac arrest cases, and supportive initiatives adopted by various governments & public organizations are some of the prime variables driving the market expansion.
Similarly, companies operating in the wearable cardiac devices are collaborating with cardiologists and other healthcare professionals to gain insights into patient needs and to ensure that their products meet medical standards. Such collaborations help in developing effective external defibrillators and establishing credibility within the healthcare community. As a result, technological advancements, customization & personalization, and collaboration with healthcare professionals is augmenting the market revenue.
Imagine having a heart that's beating dangerously fast or erratically. It's like your heart is lost in a wild dance, unable to pump blood properly. This can be deadly, leading to cardiac arrest and even death. But there's a medical savior in the form of an external defibrillator. It's like a magic wand that can shock your heart back to a normal rhythm. There are different types of these defibrillators. Automated External Defibrillators (AEDs) are the superheroes of public spaces like airports and shopping malls. They're designed to be used by anyone, even if you've never touched a medical device before. They'll talk you through the steps, so you can confidently help someone in distress.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| External Defibrillators Market Size in 2022 | USD 3.2 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 7.4% |
| 2032 Value Projection | USD 6.7 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 180 |
| Tables, Charts & Figures | 334 |
| Segments covered | Product, End-use and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Product failure and product recall is one of the major factors that may hinder the market progress. Certain manufacturing defects enable moisture to saturate inside the external defibrillator and result in short-circuit when the device delivers high voltage shocks. This leads to the patients experiencing less shock than intended or may not receive a shock at all and in certain cases the device fails to respond to check in, and issue battery alerts. Such product failure leads to serious patient outcomes, thereby leading to withdrawal of product from the market.
Further, wearable defibrillators typically use sensors or electrodes to monitor the wearer's heart rhythm. Malfunctions in these sensors or electrodes, such as poor contact with the skin or faulty wiring, can result in inaccurate readings or failure to detect abnormal heart rhythms. FDA received reports of two deaths and a number of injuries. This defibrillator recall was intended to prevent a potentially deadly malfunction. Thus, product recall and failure of external defibrillators may negatively impact the industry demand.
COVID-19 Impact
The onset of the COVID-19 pandemic was an unprecedented event impacting the public health and led to an incremental surge in the number of hospitalizations. The subsequent travel restrictions and supply chain challenges had led to substantial disruptions in availability & access to wide range of healthcare services. The COVID-19 pandemic also had a detrimental impact on the medical ecosystem, pushing widespread reallocation of healthcare personnel. The COVID-19 patients were prioritized that negatively influenced other medical practices, including specialty cardiovascular practices. This led to the delay in several procedures including cardiovascular procedures.
However, there has been considerable rise in demand for cardiac rhythm management devices despite the pandemic as there was a greater emphasis on having life-saving equipment such as external defibrillators in public spaces, workplaces, and homes. Lockdowns and restrictions on movement had led to a surge in home healthcare services. This trend had led to increased interest in portable external defibrillators that can be used effectively by non-medical professionals in emergencies, allowing for quicker response times and potentially saving more lives. Overall, the abovementioned positive impacts on the external defibrillator demand had augmented the industry revenue.
External Defibrillators Market Trends
The rising prevalence of cardiac diseases is one of the major factors propelling the external defibrillators industry growth. Among these, tachycardia is one of the major precursors that promote the disease burden and inflict significant mortality rates. The increasing incidence & prevalence of this conditions, along with its sub-sets such as atrial fibrillation, ventricular tachycardia, supraventricular tachycardia (SVT), and ventricular fibrillation is set to drive the business trends.
The rise in heart disease as people get older is making sudden cardiac arrest more common. According to the National Center for Biotechnology Information (NCBI), sudden cardiac arrest rates go up with age, with middle-aged adults (35-59 years) making up a whopping 30-40% of cases. Using a defibrillator during sudden cardiac arrest can save lives and improve outcomes. So, the increase in heart problems, especially sudden cardiac arrest, along with the growing number of people in the hospital and the aging population, is creating a huge demand for external defibrillators. This is driving the growth of the defibrillator industry.
External Defibrillator Market Analysis
Imagine you're at the emergency scene of a cardiac arrest. The victim's heart has stopped, and you need to act quickly to save their life. That's where external defibrillators come in, and the market has various types to meet specific needs. One popular option is the automated external defibrillator (AED). It's super easy to use, even for someone with no medical training. The device analyzes the patient's heart rhythm and, if necessary, delivers a shock to restore a normal heart rhythm. And here's the dealAEDs have been getting a lot of love lately, especially in public places like airports, schools, and sports arenas. Why? Because they're increasing the chances of survival for people who suffer a sudden cardiac arrest outside of a hospital. It's like having a tiny lifeline in reach. So, the AED market is booming, and experts predict it will continue to grow over the next few years. This growth is being driven by several factors, such asMore people getting trained on how to use AEDs Advances in technology making AEDs even easier to use The heartbreaking truth that out-of-hospital cardiac arrests are way too common. In the U.S. alone, about 50,000 people each year suffer from these cardiac arrests outside a hospital setting. External defibrillators are like little superheroes, giving us a fighting chance to save lives in these critical situations.
AEDs (automated external defibrillators) are like lifesavers designed for everyday heroes like you and me. They're made to be easy to use, even if you've never seen one before. When you turn on an AED, it'll talk you through what to do every step of the way, showing you what to look for and how to give a shock if needed. This can mean the difference between life and death for someone who's having a sudden cardiac arrest. AEDs are small and portable, so you can find them in lots of places like shopping malls, offices, schools, and even airports. They're usually stored in a visible spot so they're easy to grab in an emergency. Some AEDs even give you pointers on how you're doing, like telling you if you're giving the right amount of pressure when performing CPR. It's like having a coach right there with you.
When it comes to external defibrillators, the biggest users are places like hospitals and clinics. In fact, hospitals had the lion's share of the market in 2022, and they're expected to get even bigger, raking in over $2.7 billion by 2032. There's a good reason why hospitals are so fond of external defibrillators. These devices can jump-start a heart that's stopped, and they do it quickly and safely. Hospitals are also investing in more accurate and advanced external defibrillators, which makes patients want to go there for their heart treatments. Another big factor is that hospitals have lots of people who know how to use external defibrillators, and they're always on hand in case of an emergency. Plus, with more people getting heart problems and getting screenings, the demand for external defibrillators in hospitals is only going to keep growing.
Furthermore, the rising disease burden in developed economies with enhanced healthcare infrastructure is projected to stimulate the diagnosis & treatment rate at hospitals. As a result, accessibility to an effective treatment procedure coupled with the rising prevalence of cardiovascular diseases and associated conditions will boost the patient visits to hospitals, thereby propelling the segment revenue.
The U.S. external defibrillators market is anticipated to reach more than USD 2.1 billion by 2032. This significant market share is attributed to several factors such as the presence of major industry players, an upsurge in the demand for cardiovascular devices, rise in the prevalence of cardiovascular conditions, and growing number of hospital admissions across the country among others. As per the American Heart Association data 2022, the age adjusted death-rate attributable to cardiovascular diseases was 224.4 per 100,000 population.
In the United States, heart disease is the top killer, claiming more lives than any other cause. In 2020, it was responsible for over 40% of deaths. Stroke and heart failure were also major contributors, accounting for another 25% of deaths. As the burden of heart disease grows, so does the need for better management and treatment options. This is creating a huge opportunity for companies that offer products and services that can help people manage their heart health. New players are entering the market all the time, and the industry is expected to continue to grow rapidly in the coming years. The United States is a leader in heart care, and the government has launched several initiatives to improve the health of its citizens. These initiatives, along with the efforts of private organizations, are helping to raise awareness of heart disease and the importance of prevention and treatment. This is creating even greater demand for external defibrillators, which can be used to save lives in the event of a cardiac arrest.
External defibrillator Market Share
Some of the major market players operating in the external defibrillator market are
- Abbott Laboratories, Inc.
- Boston Scientific Corporation
- Koninklijke Philips
- Stryker Corporation
- Medtronic plc
- LivaNova PLC
- Asahi Kasei Corporation (ZOLL Medical Corporation)
Major market players are adopting strategic formulations such as forward integration, new product development, geographical expansion, and research collaborations to garner maximum industry share and promote company growth.
External Defibrillator Industry News
- In June 2020, Philips announced the premarket approval (PMA) for its HeartStart FR3 & HeartStart FRx automated external defibrillators (AEDs) from the Center for Devices and Radiological Health (CDRH) of the U.S. FDA. This product refers to an AED intended to manage ventricular fibrillation (VF) and pulseless ventricular tachycardias (VTs). This regulatory approval helped the company in contributing towards improving the lives of numerous sudden cardiac arrest victims and helped the company to bolster its AED portfolio.
- In April 2020, Philips announced resumption of manufacturing and shipping activities concerning external defibrillators in the U.S. after the injunction prohibiting these activities was lifted by the FDA. This development was regarded as a crucial milestone for Philips, as the company had improved the regulatory compliance processes in its ECR business and throughout the company.
External defibrillator market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD (million) and volume (Units) from 2018 to 2032 for the following segments
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By Product, 2018 - 2032 (USD Million & Units)
- Manual External Defibrillator
- Automated External Defibrillator
- Semi-Automated External Defibrillator
- Fully Automated External Defibrillator
- Wearable External Cardioverter Defibrillator
By End-use, 2018 - 2032 (USD Million)
- Hospitals
- Prehospital care
- Ambulatory Surgical Centers
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Indonesia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
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