Market Trends of Automated External Defibrillator Industry
Fully automated External Defibrillators is Expected to Hold a Significant Share in the Market Over the Forecast Period
The rising prevalence of cardiac diseases across different age groups due to stressful work conditions, sedentary lifestyles, growing consumption of tobacco and alcohol, and substance abuse is expected to drive the growth of the fully automated external defibrillator segment over the forecast period.
According to the BMJ article published in August 2021, around 80% of the study participants diagnosed with atrial fibrillation in the United kingdom population were eligible for early rhythm control. Such a growing burden of arrhythmia creates demand for the automated external defibrillator and is expected to drive the growth of the studied segment over the forecast period. Also, the rising geriatric population is expected to contribute to the growth of the studied segment. As per the UN report published in 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. Such an increase in the geriatric population prone to develop cardiovascular diseases is expected to contribute to the growth of the studied segment over the forecast period.
Also, the increasing product launches are expected to contribute to the segment's growth over the forecast period. For instance, in October 2021, CellAED launched the handheld, smart personal Automated external defibrillator, which is available for pre-order in Europe.
Thus, the factors such as the rising geriatric population and increasing prevalence of cardiovascular diseases along with the launch of advanced fully automated external defibrillators contribute to the growth of the studied segment over the forecast period.
North America is Expected to Hold a Major Market Share Over the Forecast Period
The North American automated external defibrillators market is expected to grow during the forecast period due to the high burden and increasing prevalence of cardiovascular diseases, new product launches, and the emerging number of key market players in the region.
Additionally, the rising geriatric population is also expected to drive the growth of the market in North American countries. For instance, the data published by Statistics Canada in August 2022 indicated that the population aged 70 to 74 years in Canada was 1,847,585 whereas the population aged 80 to 84 years was 840,545. Such a rise in the geriatric population who are prone to developing cardiovascular diseases is expected to drive the demand for automated external defibrillators, thereby contributing to the growth of the market.
Additionally, the increasing awareness campaigns regarding automated external defibrillators, product approvals, and product launches are expected to reinforce growth prospects over the forecast period in the North American region. For instance, in August 2022, Great Western Air Ambulance Charity launched an event to teach CPR and automated external defibrillator usage. This event coincided with the unveiling of a public-access defibrillator.
Similarly, in August 2021, Kestra Medical Technologies, Inc. received United States FDA premarket approval for the Assure wearable cardioverter defibrillator (WCD) system. This ASSURE WCD system represents the next generation of monitoring and therapy to protect patients at risk of sudden cardiac death.
Thus, the factors such as the increasing prevalence of cardiovascular diseases, the presence of major market players along with frequent product launches are expected to contribute to the growth of the market in this region over the forecast period.
