Market Research Report
Automated External Defibrillator Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||390861|
|Published||Content info||114 Pages
Delivery time: 2-3 business days
|Automated External Defibrillator Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: June 1, 2019||Content info: 114 Pages||
Global Automated External Defibrillator market is expected to witness a CAGR of 7.8% during the forecast period. Certain factors that are driving the market growth include rising prevalence of cardiovascular diseases, technological advancements in the field of defibrillators, and increasing investments by government and private players.
The automated external defibrillator market saw growth due to the rise in the prevalence of cardiovascular diseases (CVDs). As per the recent report of the World Health Organization (WHO), more people die from CVDs than any other disease prevalence. In 2015, around 17.7 million people died due to CVDs. A two-thirds of CVDs death accounts from low and middle-income countries. The statistics show the need for early detection and proper management which ultimately helps the market to grow globally. The rise in the technological advancements in defibrillators and rise in the investments from private players also help in the growth of this market.
However, the devices face much stricter regulations compared to those of other categories, taking longer time and labor for the complete approval process, this is one of the biggest factors to hinder the growth of the automated external defibrillator market. For example, in 2015, the US FDA ordered PMA approval for new and existing automated external defibrillators, citing manufacturing issues and recalled more than 2 million devices since 2005 for stricter regulations, thus, hindering the growth of this market. Along with this, there is a lack of awareness among people towards taking corrective actions at the earliest in relation to sudden cardiac arrest, especially in the emerging markets, which also hampers the growth of this market.
An automated external defibrillator (AED) is a lightweight, portable device that delivers an electric shock through the chest to the heart. The shock can potentially stop an irregular heartbeat and allow a normal rhythm to resume, following a sudden cardiac arrest (SCA). The scope of the report includes several market factors into considerations and the revenue share is divided into the following segments.
Semi-Automated External Defibrillators is Expected to Hold Significant Market Share in Analysis Type
Semi-automated external defibrillator (SAED) is a portable device that checks the heart's rhythm and allows the user to send an electric shock to the heart, for restoring the heart's normal rhythm. It is used to treat sudden cardiac arrests in patients. The major difference between a SAED and a fully automated external defibrillator (FAED) is that the fully automated ones send a shock automatically to the heart, after verbally preparing the patient to receive the shock. The SAED allows the patient to take the decision of sending a shock, after verbally requesting them; the SAED contains a shock button. One of the factors that contribute to the increase in SAED demand and its usage growing demand over the high medical tourism dedicated countries globally, across a range of multi-specialty hospitals. In the case of FAEDs, it should be made sure that no one is touching the patient, or else there is a chance that the person next to the patient might get injured by the shock.
North America Dominates the Market and Expected to do Same in the Forecasted Period
North America is expected to dominate the market owing to the increased prevalence of cardiovascular diseases and advancement in medical technology. The high healthcare expenditure and supportive government policies help this region to dominate this market. It is estimated that Europe is to follow North America due to rising prevalence of coronary artery diseases and a high number of sudden cardiac arrest with rising investments by companies in this region.
The global Automated External Defibrillator market is highly competitive and consists of a number of major players. Companies like Asahi Kasei Corporation, Cardiac Science, GE Healthcare, Koninklijke Philips N.V., Medtronic Plc, Nihon Kohden Corporation, Schiller, Shenzhen Mindray Bio-Medical Electronics Co. Ltd, and Stryker Corporation, among others, hold the substantial market share in the Automated External Defibrillator market.