NEW YORK, Dec. 11, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, the global automated external defibrillator market share was valued at $1,476.0 million in 2018 and is projected to reach $3,991.5 million by 2030, progressing at a CAGR of 8.8% during the forecast period (2020–2030). Based on product type, the non-wearable category is expected to witness faster growth, with a CAGR of 8.9%, during the forecast period, owing to the fact that non-wearable AEMs are portable in nature and easy to use during cardiac arrest situation.
With the growing awareness about life-saving potential of AEDs in case of emergencies, the installation of these devices is increasing in public places, such as railway stations, schools and colleges, shopping centers, airports, malls, and leisure centers. These devices are also known as public access defibrillators (PADs), as these can be used by anyone during an emergency.
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Several organizations in the U.S. are taking initiatives to install PADs in their vicinities in light of the growing number of sudden cardiac arrest (SCA) in their communities. For instance, in February 2016, the Sudden Cardiac Arrest Foundation, a national community-benefit organization in the U.S., granted funds to several schools for the procurement of AEDs through its “You Can Save a Life at School AED Grant” program. Besides, Coles Group, an Australian retailer, partnered with the Heart Foundation in June 2019, to roll out AEDs to all of its supermarkets across Australia, to provide rapid aid to customers and team members suffering from SCA.
Globally, North America is expected to account for the largest share in the automated external defibrillator market by 2030, followed by Europe. Together, North America and Europe are expected to account for 77.1% market share in 2030. This can be mainly attributed to the presence of established players and rising geriatric population, along with increasing awareness among people for defibrillator usage during cardiac arrest.
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Other regions, such as APAC, LATAM, and MEA, also hold considerable share in the AED market, on account of the rapid adoption of AEDs, due to the increasing awareness among consumers about the usage of defibrillators.
In 2018, Japan held 43.2% share in the APAC AED market, and the market in the country is predicted to prosper at a CAGR of 10.5% during the forecast period. Surging aging population, rising incidences of SCA, and increasing technological advancements are some of the key factors propelling the growth of the market in the country.
Brazil is projected to be the fastest-growing automated external defibrillator market in the LATAM region during the forecast period. Increase in the healthcare expenditure of the country has resulted in the development of advanced patient care settings, further facilitating the adoption of advanced cardiac arrest devices, such as AEDs.
In Saudi Arabia, increasing healthcare expenditure, surging geriatric population, and increasing initiatives by public and private organizations to create awareness on AED are the key factors driving the growth of the automated external defibrillator market in the country.
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The global automated external defibrillator market is fragmented in nature with the presence of giant players, such as Stryker Corporation, ZOLL Medical Corporation, Koniklijke Philips N.V., and Nihon Kohden Corporation.
The players in the automated external defibrillator market are adopting several strategic measures, such as product launches and mergers & acquisitions, to maintain their leading position. For example, in August 2019, Koninklijke Philips N.V. introduced a new HeartStart Intrepid monitor/defibrillator to assess and treat patients in medical emergencies across pre-hospital and hospital settings. The device equipped with QCPR functionality that offers cardiopulmonary resuscitation (CPR) feedback and guidance for compressions and ventilations. It also has traumatic brain injury (TBI) advisory, which leverages vital sign evaluation to deliver the visual guidance required to avoid serious complications in people with suspected TBI.
Some other important players operating in the automated external defibrillator market are SCHILLER AG, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Mediana Co. Ltd., Opto Circuits Limited, and CU Medical System Inc.
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