Allied Market Research recently published a report, titled, “External Defibrillators Market by Product Type (Manual External Defibrillator, Automated External Defibrillator (AED), Wearable Cardioverter Defibrillator (WCD)), by End User (Hospitals, Pre-Hospitals, Public Access Market, Alternate Care Market, Home): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global external defibrillators industry generated $2.7 billion in 2021, and is expected to reach $5.2 billion by 2031, witnessing a CAGR of 7.0% from 2022 to 2031.
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External Defibrillators Market Overview:
Rise in focus toward development of public access defibrillator (PAD) by public and private organizations, rise in number of key players that develop advanced defibrillator devices, and surge in incidence of cardiac diseases drive the growth of the global external defibrillators market. However, increase in pricing pressure on market players restrains the market growth. On the other hand, rise in adoption of technologically advanced defibrillators devices, increase in demand for quality medical care, and rise in prevalence of sudden cardiac arrest (SCA) present new opportunities in the coming years.
External Defibrillators Market Segmentation:
The hospitals segment to continue its lead position during the forecast period
Based on end user, the hospitals segment held the highest market share in terms of revenue in 2021, accounting for more than half of the global external defibrillators market, and is projected to continue its lead position during the forecast period. This is due to ever-increasing volume of patients visiting hospitals, new strategies adopted by key manufacturers, and rise in adoption of various types of external defibrillators by hospitals. However, the alternate care segment is expected to register the fastest CAGR of 8.7% from 2022 to 2031. This is attributed to rise in the installation of defibrillators in public places such as highways, shopping malls, hotels, and others.
The automated external defibrillator (AED) segment to maintain its leadership status throughout the forecast period
Based on product type, the automated external defibrillator (AED) segment contributed to the highest market share in 2021, accounting for more than two-thirds of the global external defibrillators market, and is expected to maintain its leadership status throughout the forecast period. This is due to rise in the initiatives by major companies, surge in number of adoption of defibrillators at healthcare facilities, and the implementation of several public access defibrillation programs. However, the wearable cardioverter defibrillator (WCD) segment is expected to witness the highest CAGR of 12.9% from 2022 to 2031, owing to rise in prevalence of cardiovascular disorders, surge in elderly population, and ease of use for non-invasive devices.
North America to continue its dominance by 2031
Based on region, North America accounted for the largest market share in terms of revenue in 2021, holding more than two-fifths of the global external defibrillators market, and is expected to continue its dominance by 2031. This is attributed to increase in the number of installations of external defibrillators in hospitals along with other public places such as schools, hotels, highways, railway stations, and others. However, Asia-Pacific is estimated to manifest the largest CAGR of 8.9% during the forecast period. This is due to increase in number of cardiovascular diseases, rise in healthcare costs, and improvements in the healthcare infrastructure.
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External Defibrillators Market: By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Important Questions Being Answered by the External Defibrillators Market Report:
What is the External Defibrillators market size and growth?
What are the prominent and latest trends impacting the market?
Which is the largest regional market for External Defibrillators?
The key players in the global External Defibrillators market industry include Nihon Kohden Corporation, Asahi Kasei Corporation, Koninklijke Philips N.V., CU Medical Germany GMBH, Mediana Co., Ltd., Shenzhen Comen Medical Instruments Co., Ltd., Stryker, General Electric Company, Schiller AG, Shenzhen Mindray Bio-Medical Electronics Co., Ltd..
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