Automated External Defibrillator Market Analysis & Forecast 2032

Defibrillators are medical devices used to defibrillate or stabilize the heartbeat of an individual in a condition of arrhythmias (irregular heartbeat) and ventricular tachycardia (a heart rhythm disorder). Automated external defibrillators (AEDs) are used to revive someone from sudden cardiac arrest. AEDs are portable, life-saving devices used to treat people experiencing sudden cardiac arrest, a serious heart condition. Most cardiac arrests occur when the heart's electrical system malfunctions. Thus, with the increasing prevalence of cardiac disorders, such as stroke and heart attack, the demand for defibrillators is also increasing.

Market Statistics:

The global automated external defibrillator market was valued at US$ 717.5 Mn in 2021 and is forecast to reach a value of US$ 1,217.0 Mn by 2028 at a CAGR of 7.8% between 2022 and 2028.

North America held dominant position in the global automated external defibrillator market in 2020, accounting for 55.0% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Automated External Defibrillator Market Share (%), by Region, 2022

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Recent Developments:

In April 2021, ZOLL Medical Corporation acquired Respicardia, Inc., the company has sought to expand in the area such as heart failure, with this acquisition, focused on cardiopulmonary resuscitation, such as defibrillators, AEDs, and LifeVest wearable defibrillators.

In June 2020, Royal Philips received the United States Food and Drug Administration (FDA) premarket approval for HeartStart FR3 and HeartStart FRx automated external defibrillators, and their supporting accessories, including batteries and pads.

In September 2019, Shenzhen Mindray launched BeneHeart C Series AED with new features and provides faster shock delivery to achieve better resuscitation outcomes for sudden cardiac arrest (SCA). It is now available in Europe and other selected countries.

Market Drivers:

1. Increasing prevalence of cardiovascular diseases (CVDs) across the globe is expected to aid in the growth of the global automated external defibrillator market over the forecast period. For instance, according to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. More than four out of five CVD deaths are due to heart attacks and strokes, and one third of these deaths occur prematurely in people under 70 years of age.
2. Increasing training and awareness programs regarding defibrillators is expected to augment the growth of the global automated external defibrillator market during the forecast period. For instance, in March 2021, GAA launched defibrillator awareness programme. The programme allows clubs to fundraise for new AEDs, which are connected to the internet through the mobile phone network. This means automated external defibrillators will check and notify via email if there is an issue that needs to be addressed.

Figure 2. Global Automated External Defibrillator Market Share (%), by Analysis Type, 2022

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Market Restraints:

1. Stringent rules/regulations regarding medical devices, including AEDs, is expected to hinder growth of the global automated external defibrillator market. For instance, according to the US Food & Drug Administration (FDA), manufacturers are required to obtain premarket approval for all AEDs to ensure the quality and reliability of AEDs.
2. Lack of awareness and early corrective measures about sudden cardiac arrest is expected to hamper growth of the global automated external defibrillator market. For instance, many other medical conditions or lifestyles can put people at high risk of heart diseases, including diabetes, obesity and overweight, unhealthy diet, physical inactivity, and high alcohol consumption.

Market Opportunities:

1. Rising geriatric population around the world is expected to offer lucrative opportunities for players in the global automated external defibrillator market. Geriatric population is associated with progressive deterioration in the structure and function of the heart and acts as a catalyst in the development of chronic diseases. For instance, according to WHO, by 2030, 1 in 6 people in the world will be aged 60 years or over, and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion).
2. Technological advancements in the field of AEDs is expected to offer lucrative opportunities for players in the global automated external defibrillator market. For instance, in April 2019, Stryker launched the company’s newest defibrillation solution, the LIFEPAK CR2 defibrillator with LIFELINKcentral AED program manager, in the United States. The LIFEPAK CR2 is designed to help rescuers provide higher quality CPR and to provide the fastest first shock when defibrillation is needed.

Market Trends/Key Takeaways:

1. Increasing demand or adoption of AEDs is expected to drive growth of the global automated external defibrillator market. For instance, in September 2021, ZOLL MEDICAL announced the launch of three automated external defibrillator (AED) models to penetrate the Thai market. This estimated that demand for AEDs in Thailand would rise to 10,000 units.
2. Frequent approvals and launches of novel products is expected to propel growth of the global automated external defibrillator market. For instance, in June 2020, Royal Philips announced that the FDA has granted premarket approval for the company’s HeartStart FR3 and HeartStart FRx automated external defibrillators (AEDs).

Competitive Landscape:

1. Asahi Kasei Corporation
2. Koninklijke Philips NV
3. Nihon Kohden Corporation
4. Schiller AG
5. Shenzhen Mindray Bio-Medical Electronics Co. Ltd
6. Stryker Corporation
7. CU Medical System Inc.
8. Mediana Co. Ltd.
9. BPL Medical Technologies Pvt. Ltd.
10. ViVest Medical