External Defibrillators Market Analysis

External Defibrillator Market Analysis

Based on product, the external defibrillator market is segmented as manual external defibrillator, automated external defibrillator, and wearable external cardioverter defibrillator. The automated external defibrillator segment held considerable revenue share in 2022 and is projected to expand at 7.5% CAGR to reach USD 2.4 billion by 2032. This segmental growth is majorly attributed to the increasing adoption of these devices, technological advancements driving easy use & automation, and surged prevalence of out-of-hospital cardiac arrest (OHCA). Out-of-hospital cardiac arrest is amongst the significant variables responsible for mortality and morbidity. According to the article published in the American Heart Journals, in 2018, around 50,000 OHCAs were reported in the U.S. External defibrillators are crucial medical devices used in such out-of-hospital cardiac arrest situations.
 

Moreover, automated external defibrillator is designed to be used by non-medical professionals, such as bystanders and first responders. They often provide simple and clear audio & visual instructions, guiding users through the defibrillation process. It allows for immediate intervention in cases of sudden cardiac arrest. Quick defibrillation is crucial to restoring a normal heart rhythm and improving the chances of survival. They are portable devices, making them suitable for a variety of settings, including public spaces, offices, schools, and airports among others. Their compact size ensures they can be easily stored and accessed when needed. Many AED models provide real-time feedback to users during the resuscitation process. This feedback can include guidance on the quality of chest compressions, ensuring that effective CPR is being performed.
 

Based on end-use, the external defibrillator market is segmented as hospitals, prehospital care, ambulatory surgical centers, and others. The hospitals segment held significant share in 2022 and is projected to reach more than USD 2.7 billion by 2032. The soaring use of novel external defibrillators in hospital settings delivering rapid and reliable outcomes is estimated to surge the patient preference for these healthcare facilities. The availability of a broad spectrum of external defibrillators for performing defibrillation treatment with proven accuracy is set to drive product preference in hospitals. Growing admissions with cardiac ailments and growing disease screening initiatives along with the accessibility to board-certified healthcare professionals are some other variables that are augmenting the segment growth positively.
 

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.
 

Additionally, in 2020, coronary heart disease (41.2%) was the leading cause of deaths followed by stroke (17.3%), heart failure (9.2%), etc. in the U.S. These adverse events are anticipated to upsurge the adoption rate for better CVD management. This is further driving the entry of new players in the market that are projected to increase over the forecast timeframe. Moreover, the U.S. is one of the leading nations in terms of heart care initiatives and the government has employed several guidelines to bolster heart care comprising the Million Hearts initiative. These initiatives adopted by the public as well as private organizations would further promote the demand for external defibrillators in the management of certain aspects of heart disease.