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The global external defibrillator market size stood at USD 3,152.5 million in 2018 and is projected to reach USD 11,430.0 million by 2032, exhibiting a CAGR of 9.7% during the forecast period (2018-2032). North America dominated the external defibrillator market with a market share of 53.63% in 2018.
An external defibrillator is a portable electronic device that is utilized to detect and treat cardiac arrhythmia (pulseless ventricular tachycardia and ventricular fibrillation) with the help of electric impulses. Rapidly growing prevalence of sudden cardiac arrests, increasing product awareness amongst population and benefits offered by external defibrillators are expected to boost the adoption of external defibrillators during the forecast period.
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According to a research conducted by the Sudden Cardiac Arrest Foundation (SCAF) in 2018, an estimated 356,000 people suffer from out-of-hospital cardiac arrest (OHCA) each year in the U.S. Moreover, increasing prevalence of congenital heart disease, obesity, diabetes, smoking, and high blood pressure are expected to boost the prevalence of sudden cardiac arrest, which can result into increased adoption of external defibrillators during the forecast period.
"Superior Ergonomics and Effective Treatment Outcomes of Wearable defibrillator are Expected to Boost the External Defibrillator Market Share and Growth "
In 2014, Asahi Kasei Corporation launched LifeVest, a wearable defibrillator in certain parts of the world. A wearable external defibrillator is programmed in such a way that; it can predict the risk of sudden cardiac arrest even before it occurs. Combined with this, automatic shock delivery with an aim to restore the heart rhythm and cost-effectiveness are anticipated to offer a favorable environment for the adoption of wearable defibrillators. At present, the availability of wearable external defibrillator is limited to certain countries. However, the projected global launch of wearable defibrillator by Asahi Kasei Corporation serves huge opportunity for the global external defibrillator market growth owing to benefits offered by the wearable defibrillator. Among the products, a wearable external defibrillator is expected to be the fastest-growing segment globally.
On the basis of product, the global external defibrillator market report includes segments as automated external defibrillator, manual & semi-automated external defibrillator and wearable external defibrillator. An automated external defibrillator held an estimated 45.9% in the global external defibrillator market share in 2018, owing to increasing adoption, favorable government regulations, and minimal costs.
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In terms of end users, the public places and others are expected to register comparatively higher global market share owing to higher installations of automated external defibrillators (AEDs) in developed as well as emerging nations.
"Higher Adoption of External Defibrillator Installations Across the U.S. Enables Market to Hold Considerable Share in North America"
North America generated a revenue of US$ 1,690.6 Mn in 2018 and is expected to dominate the market throughout the forecast period. Growing installations of external defibrillators in hospitals, as well as public places such as schools, hotels, streets, railway stations, and others with an aim to prevent fatalities from sudden cardiac arrest, is prominently driving the growth of the North America external defibrillator market.
North America External Defibrillator Market Size, 2018
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Moreover, favorable government regulations, the growing emphasis on AED training, and increasing awareness amongst people to treat out-of-hospital cardiac arrest are projected to boost the external defibrillator market sales in North America.
"Asahi Kasei Corporation and Philips Healthcare to Hold More Than Half of the Market Share in Terms of Revenue"
Asahi Kasei Corporation is a leading player in the global external defibrillator market. The company is estimated to retain its position in the forecast duration owing to its diverse product offering in external as well as wearable defibrillator segment, efficient customer reach, and strong after-sales service. This company, together with Philips Healthcare, currently holds over half of the market share in terms of revenue. Other players operating in the global external defibrillator market are Cardiac Science, Physio Control, Stryker, Defibtech, LLC., CU Medical Systems Inc., and others.
An Infographic Representation of External Defibrillator Market
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External defibrillator offers an effective treatment option to deal with out-of-hospital cardiac arrest and arrhythmia. Automated external defibrillators detect arrhythmia and restore the patient’s heartbeats which can lead to fatal death. The rapidly increasing prevalence of out-of-hospital cardiac arrests and unmet demand in emerging nations along with favorable government regulations are expected to drive the global external defibrillator market revenue by 2026.
The report provides qualitative and quantitative insights on the external defibrillator industry trends and detailed analysis of market size and growth rate for all possible segments in the market. The external defibrillator market segments include product, end-user, and region. On the basis of the product, the market is segmented into an automated external defibrillator (AED), manual and semi-automatic external defibrillator, and wearable external defibrillator.
Various end-users covered under the report are hospitals & clinics and schools and other public places. Geographically, the global market is segmented into four major regions, which are North America, Europe, Asia Pacific, and the rest of the World. The regions are further categorized into countries.
Along with this, the report analysis provides an elaborative analysis of the global external defibrillator market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of sudden cardiac arrests in key countries, technological advancements in external defibrillators industry, recent industry developments in the global market, such as mergers & acquisitions, the regulatory scenario in key countries, new products launches, reimbursement scenario, and key industry trends.
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Fortune Business Insights says that the Global External Defibrillator market was valued at USD 3,152.5 Million in 2018 and is projected to reach USD 6,463.0 Million by 2026.
In 2018, the market was valued at USD 3,152.5 Million.
Growing at a CAGR of 9.4%, the market will exhibit steady growth in the forecast period (2019-2026)
Automated External Defibrillator is expected to be the leading segment in this market during the forecast period.
Superior ergonomics and effective treatment outcomes of wearable defibrillator will drive the growth of the Global External Defibrillator market.
North America dominated the Global External Defibrillator market in 2018?
Asahi Kasei Corporation and Philips Healthcare are the top players in the market.
Increasing adoption, favorable government regulations, and minimal costs of Automated External Defibrillator is estimated to drive the market.
Increasing shift towards adoption of wearable external defibrillator owing to the added benefits offered by the products are one the key trends of Global External Defibrillator Market.
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