PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1071652
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1071652
The revenue of the automated external defibrillator market is projected to increase from an estimated $1,677.3 million in 2021 to $3,520.5 million by 2030, at an 8.6% CAGR. According to the market research report published by P&S Intelligence. The central factor behind it would be the increasing heart disease incidence due to genetic factors, aging, and poor lifestyle choices. Moreover, arrhythmias, which AEDs are designed to treat, aren't caused just by heart diseases themselves, but because of numerous pre-existing conditions.
Moreover, medical device companies are strengthening their efforts to advance the technology of these devices, to make them more accessible and easily usable for patients. For instance, the LifeVest, developed by ZOLL Medical Corporation, is a lightweight, wearable AED for those at a high risk of sudden cardiac arrest. Similarly, Philips's Tempus ALS is a defibrillator with remote monitoring functionality.
Apart from North America, the APAC region is witnessing a rise in the procurement of AEDs as the governments here are doing more than before to enhance their healthcare infrastructure. Additionally, the growing geriatric population is driving the incidence of all kinds of chronic diseases, which, ultimately, affect the heart. This is pushing up the installation of AEDs in hospitals, pre-hospital-care settings, and even primary-care clinics.
The biggest companies in the automated external defibrillator market are: Koninklijke Philips N.V., Nihon Kohden Corporation, BIOTRONIK SE & Co. KG, SCHILLER AG, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Stryker Corporation, ZOLL Medical Corporation, CU Medical System Inc., and Mediana Co. Ltd. To gain a competitive edge, they are launching more-advanced wearable and non-wearable AEDs and acquiring similar companies.
The external defibrillator market, which generated an estimated revenue of $4,111.4 million in 2021, will witness an 8.7% CAGR, to reach $8,709.2 million by 2030. The key reason will be the geriatric population (65 years and above), which has been forecast by the UN to increase from 727 million in 2020 to 1.5 billion in 2050. Compared to younger people, the elderly are more prone to all kinds of diseases, especially CVDs.