Increased support from governments in the healthcare sector is expected to propel growth in the global external defibrillator market. Fortune Business Insights in a report, titled “
: Global Market Analysis, Insights and Forecast, 2019-2026” published the above information. External defibrillator devices are used to deliver shock therapy to patients suffering from sudden cardiac arrests.
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The growing focus on public access defibrillator or (PAD) by private organizations and leading players are expected to drive the market. Also, the rising prevalence of cardiovascular disorders is projected to help expand the global market in the coming years. The global market was worth US$ 3152.5 Mn in 2018 and is projected to reach US$ 6463.0 Mn by 2026. At this pace, the global market will exhibit a CAGR of 9.4% during the forecast period.
Some of the major companies that are present in the Global External Defibrillator Market are;
- Asahi Kasei Bioprocess America, Inc.
- Philips Healthcare SL
- Defibtech, LLC.
- Cardiac Science
- Stryker Sage
- CU Medical Systems, Inc.
- Other prominent players
Rapid Advancements in Medical Technology Helps the Market Grow in North America
North America is expected to lead the global external defibrillator market owing to huge technological advancements in healthcare. Moreover, the region was worth US$ 1690.6 Mn in the year 2018. Rising support from governments and favorable schemes on reimbursements are factors creating growth opportunities for the market in North America. Also, the region is witnessing more number of external defibrillator installations in hospitals and other public places. This, as a result, is likely to reduce fatalities from cardiac arrests and this is why North America holds a prominent share in the global market. The rise in training programs on Automated External Defibrillator (AED) in this region is also expected to encourage growth in the market.
The market in Asia Pacific is likely to register considerable growth in the forecast years primarily on account of improvements in healthcare infrastructure. This is further expected to result in increasing accessibility of external defibrillator devices. Also, rising prevalence of cardiovascular disorders in Asia Pacific is likely to stimulate growth of the market.
Advancements in External Defibrillators to Offer Faster Treatment and Spurs Growth
“The demand for handling cardiovascular patients is growing across the world,” said a lead analyst at Fortune Business Insights. “This is further expected to lead to innovations in external defibrillators such as automated external defibrillator (AED),” he added. These AED devices covered 45.9% share in the global market in 2018 owing to their minimal costs. Also, advancements in external defibrillator are expected to enhance the comfort level of patients by delivering a faster treatment.
Rising awareness about defibrillation especially in out-of-hospital cardiac arrest (OHCA) patients enables growth in the market. This is ascribable to several training programs conducted in offices, schools, and some other public places. Growing demand for the treatment of cardiovascular disorders is anticipated to fuel the demand for external defibrillator pacemaker. Fortune Business Insights predicts that the escalations in the development of healthcare industry over the years has offered significant impetus to the market’s growth.
Rapid lifestyle changes and increasing prevalence of obesity, high blood pressure, and diabetes result in rising prevalence of sudden cardiac arrests. This in turn, is expected to augment demand for different types of external defibrillators such as AED, wearable defibrillator, and others.
Asahi Kasei Leads the Market with its Diverse Product Portfolio
As per the report, the leading player in the global external defibrillator market is Asahi Kasei Corporation. The company offers diverse product portfolio in wearable as well as automated defibrillator segments. In addition to this, the company has achieved an efficient customer reach over the years and provides an impressive after-sales service. The company, along with Philips Healthcare, covers more than half of the market in terms of their revenue.
Launch of novel external defibrillators are expected to increase the share in the global market by 2026. For instance, Stryker launched an AED called LIFEPAK CR2 in the U.S. in April 2016. This device is Wi-Fi enabled and offers efficient remote patient monitoring. Also, Swansea City Football Club launched a defibrillator program in March 2018. This program was initiated with an aim to offer 24-hour emergency care for football players.
Major Table of Content
- Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
- Executive Summary
- Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
- Key Insights
4.1. Prevalence of Sudden Cardiac Arrests in Key Countries
4.2. Technological Advancements in External Defibrillators
4.3. Recent Industry Developments Such as Mergers & Acquisitions
4.4. The Regulatory Scenario for Key Countries
4.5. New Product Launches by Key Players
4.6. Key Industry Trends
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