The market for automated external defibrillators (AEDs) is projected to grow significantly, reaching an estimated US$ 2,207.94 million by 2030, up from US$ 1,556.21 million in 2022. This growth represents a compound annual growth rate (CAGR) of 4.5% from 2022 to 2030.
Several factors are contributing to the expansion of the automated external defibrillators market, including the rising incidence of cardiovascular diseases and an increase in training and awareness initiatives regarding AEDs. Nonetheless, challenges related to the performance of these devices are posing obstacles to market growth.
Increasing Training and Awareness Initiatives for Automated External Defibrillators
In 2019, approximately 700,000 cases of out-of-hospital cardiac arrest (OHCA) were reported in the US and European nations, with many incidents occurring in domestic and public environments. Awareness of cardiopulmonary resuscitation (CPR) and AEDs is notably high in Western countries. A systematic review and meta-analysis published in 2020, titled "The Global Survival Rate among Adult Out-Of-Hospital Cardiac Arrest Patients who Received Cardiopulmonary Resuscitation," evaluated survival rates of OHCA patients who received CPR from bystanders or emergency medical services. The findings indicated a marked improvement in survival rates over recent years, particularly among those who received CPR or AED assistance in Western regions. Additionally, the global campaign "Shocktober," launched in October 2020 in Australia, aims to enhance community education and awareness about CPR and AEDs.
Training programs, both online and offline, have surged globally, facilitated by organizations such as the World Health Organization (WHO), the US Food and Drug Administration (FDA), regional health authorities, and local organizations. Various US states have enacted laws to promote the use and accessibility of AEDs, alongside provisions for educating the public on their operation and maintenance. The British Heart Foundation has also been instrumental in mobilizing healthcare professionals to advocate for public education in the UK. A notable incident that heightened awareness occurred during Denmark's Euro 2020 match when footballer Christian Eriksen experienced OHCA, underscoring the importance of AEDs in saving lives. This incident significantly contributed to the increased adoption of defibrillators in various public venues. Consequently, the rise in training and awareness programs is a key driver of growth in the AED market.
Segmental Analysis of the Automated External Defibrillators Market
The automated external defibrillators market is categorized based on type and end user. In terms of type, the market is divided into fully automated external defibrillators (FAEDs) and semi-automated external defibrillators. Defibrillators are devices that deliver a high-energy electric shock to the heart of an individual experiencing cardiac arrest, a process known as defibrillation, which is crucial for saving lives. FAEDs are designed for use by lay responders, requiring no button presses to administer a shock; the device autonomously analyzes the patient's condition and delivers a shock if necessary. The user activates the FAED by either pressing a button or opening the lid, then places the pads on the patient as directed by the device's instructions. Once the pads are positioned, the FAED assesses the heart rhythm and, if a shock is warranted, it administers it automatically without any manual intervention.
Regarding end users, the market is segmented into hospitals & clinics, homecare, and other sectors. In 2022, hospitals and clinics represented the largest share of the market, while the homecare segment is anticipated to experience the highest growth rate, with a CAGR of 5.0% from 2022 to 2030. Hospitals are equipped with a range of medical professionals, including general practitioners and specialists, who provide superior healthcare services. The increasing number of cardiac arrest cases is propelling growth in the hospitals and clinics segment, along with the rising frequency of cardiac implant procedures and the availability of reimbursement options in developed markets.
Geographical Insights into the Automated External Defibrillators Market
Geographically, the automated external defibrillators market is analyzed across North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America. North America currently holds the largest market share, while the Asia Pacific region is recognized as the fastest-growing area in this sector.
Automated External Defibrillators Market: Key Players
The analysis of the automated external defibrillators market includes several prominent players, such as Nihon Kohden, Asahi KASEI, Mindray Medical International, SCHILLER, Koninklijke Philips N.V., Stryker, Mediana Co., Ltd, CU Medical System Inc., BPL Medical Technologies, and Progetti Srl.
Recent developments in the automated external defibrillators market include:
? In October 2023, the Murcia Health Service enhanced patient care for those with palpitations, arrhythmias, and strokes by acquiring 80 advanced Holters connected to a web server, enabling cardiologists to interpret results remotely and integrate them into electronic patient records.
? In April 2020, Philips resumed the manufacturing and distribution of external defibrillators in the US after the FDA lifted an injunction, allowing the company to comply with ongoing regulatory monitoring and inspections.
Key sources referenced in the preparation of this report include the World Health Organization (WHO) and the US Food and Drug Administration (FDA).