New York, United States , June 24, 2024 (GLOBE NEWSWIRE) -- The Global External Defibrillators Market Size is to grow from USD 3.30 Billion in 2023 to USD 7.45 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 8.48% during the projected period.
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An external defibrillator is a medical device designed to deliver an electric shock to restore the normal rhythm of the heart in cases of life-threatening cardiac arrhythmias. It detects and treats two types of abnormal heart rhythms: ventricular fibrillation (VF) and pulseless ventricular tachycardia (PVT). The elevated risk of various heart conditions among people presents numerous opportunities for external defibrillators. Further, the development and utilization of at-home external defibrillators, to mitigate the risk of cardiac arrest among the diverse populations. The growing utilization of external defibrillators in the treatment of patients suffering from sudden cardiac arrest creates revenue-generating opportunities in the global automated external defibrillators market in the near future. The increasing cases of alcohol addiction and smoking create lucrative market opportunities for external defibrillators. The increasing prevalence of hypertension and cardiovascular illnesses along with the rising aging population is driving the market demand for external defibrillators. Technological advancements, healthcare expenditures, improved healthcare infrastructure, and increased disposal income in developing countries are responsible for propelling the global external defibrillators market. On the contrary, the growing pricing pressure on market participants, resistance to adopting digital transformation, and lack of awareness about the corrective measures of sudden cardiac arrest (SAC) are restraining the global external defibrillators market.
Browse key industry insights spread across 230 pages with 110 Market data tables and figures & charts from the report on the " Global External Defibrillators Market Size, Share, and COVID-19 Impact Analysis, By Product (Manual External Defibrillator, Automated External Defibrillator, and Wearable External Defibrillator), By End-Users (Public Access Market, Alternate Care Market, Home, Hospitals, and Pre-Hospitals), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033 "
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The automated external defibrillator segment dominates the market with the largest revenue share in 2023.
Based on product, the global external defibrillators market is segmented into manual external defibrillator, automated external defibrillator, and wearable external defibrillator. Among these, the automated external defibrillator segment dominates the market with the largest revenue share in 2023. An automated external defibrillator (AED) is required to administer defibrillation, or electric shock, to a patient to restore the heart’s rhythm. The increasing use of defibrillators in healthcare facilities and the implementation of several public access defibrillation initiatives are expanding the market growth.
The hospitals segment is anticipated to hold the largest market share through the forecast period.
Based on the end-users, the global external defibrillators market is segmented into public access market, alternate care market, home, hospitals, and pre-hospitals. Among these, the hospitals segment is anticipated to hold the largest market share through the forecast period. Defibrillators are necessarily used in hospital cardiology units to treat patients with heart-related issues. The growing use of external defibrillators by hospital patients is propelling the market in the hospitals segment.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. Healthcare regulations in developed nations like the US, are linked to the availability of automated external defibrillators in public areas such as government buildings, educational institutes, sports arenas, and schools are significantly driving the market for external defibrillators. The growing prevalence of cardiac disorders and the increasing awareness are driving the market in the region. The existence of several key market players and an increasing use of external defibrillators at medical facilities are driving the market for external defibrillators.
Asia-Pacific region is expected to grow the fastest during the forecast period. The rising cases of chronic illnesses, increasing number of new product launches, and increasing cost of product research and development in the region are responsible for driving the market. In countries like Brazil, China, and India, cardiovascular diseases (CVDs) have been among the leading causes of death. The number of public access to automated external defibrillator setups is expected to rise in the coming years which is anticipated to drive the market in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global external defibrillators market are Medtronic, Abbott, Stryker Corporation, Koninklijke Philips N.V., Asahi Kasei Corporation, Boston Scientific Corporation, MicroPort Scientific Corporation, Mediana Co. Ltd., Nihon Kohden Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Schiller AG, BPL Medical Technologies, Progetti Srl, CU Medic, and Other Key Players.
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Recent Developments
- In February 2024, Schiller AG installed its FRED PA-1 automated external defibrillators in railroad stations in Mumbai. The installations have been strategically placed in the station master’s room to ensure round-the-clock accessibility and quick response in case of emergencies.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global external defibrillators market based on the below-mentioned segments:
Global External Defibrillators Market, Product Analysis
- Manual External Defibrillator
- Automated External Defibrillator
- Wearable External Defibrillator
Global External Defibrillators Market, End-Users Analysis
- Public Access Market
- Alternate Care Market
- Home
- Hospitals
- Pre-Hospitals
Global External Defibrillators Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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