External Defibrillators Market Size

External 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

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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.

An external defibrillator is a medical device designed to deliver an electric shock to the heart in order to restore its normal rhythm in cases of life-threatening cardiac arrhythmias, particularly ventricular fibrillation and ventricular tachycardia. These abnormal rhythms can prevent the heart from effectively pumping blood, potentially leading to cardiac arrest and death. There are different types of external defibrillators, including automated external defibrillators (AEDs) commonly found in public spaces, such as airports, malls, and public buildings. These AEDs are designed to be user-friendly and can provide verbal instructions to guide even untrained bystanders through the process of delivering a shock.

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.