Market Trends of Global Cardiac Arrest Treatment Industry
The Defibrillators Segment is Expected to Witness Considerable Growth Over the Forecast Period
Defibrillators are devices that send an electrical impulse or shock to the heart to restore a normal heartbeat. They are used to prevent or correct arrhythmia, an irregular heartbeat that is too slow or too fast. There are three types of defibrillators: AEDs, ICDs, and WCDs. An AED is a lightweight, portable, battery-powered device that checks the heart's rhythm and sends a shock to the heart to restore a normal rhythm. The device is used to help people in cardiac arrest.
The segment growth is majorly driven by the increasing incidence and prevalence of cardiovascular diseases, sedentary lifestyles, and the aging population. In recent years, heart rhythm problems (arrhythmias) have become prevalent and are expected to experience an increase further. Market players frequently launch novel products to gain a competitive edge in the market. For instance, in March 2022, CellAED, developed by Rapid Response Revival is the first personal defibrillator launched in the UK. CellAED's unique Snap Peel StickTM design means the device is quick and easy to use, even by someone with no medical training. CellAED is up to one-tenth of the price, size, and weight of current technology, and is an affordable at-home defibrillator. Similarly, in August 2021, KestraMedical Technologies, Inc. announced that the company received the United States Food and Drug Administration (FDA) Premarket Approval for the ASSURE Wearable Cardioverter Defibrillator (WCD) system. The ASSURE WCD represents the next generation of monitoring and therapy to protect patients at risk of sudden cardiac death (SCD). ASSURE WCD can analyze a patient's heart rhythm, independently identify a dangerous arrhythmia, decide on autonomous treatment and safely apply defibrillation therapy, a shock to the patient's heart to restore a normal heart rhythm. The system is compatible with the company's cloud-based digital health platform, which enables communication with both patients and doctors. Thus, owing to such product launches, considerable segment growth is expected over the forecast period.
North America is Expected to Witness Significant Growth Over the Forecast Period
North America is expected to witness considerable growth over the forecast period. The growth is due to factors such as the high burden of cardiovascular diseases in the region, along with the increased spending on the research and development of cardiovascular treatments and product launches by the key players. For instance, as per an NCBI research study published in April 2022, more than 16.5% of the United States population, or 54 million people, were over the age of 65 in 2021, and by 2030, the number is expected to rise to 74 million. The number of people over the age of 85, who are at risk of developing heart disease in the country, is expected to increase significantly. Such an increase in the elderly population leading to increasing cases of cardiac arrest is expected to propel the demand for cardiac arrest drugs or devices, thereby contributing to the market growth in the North American region.
Key product launches, product approvals, acquisitions and partnerships among major players, and the increasing burden of cardiac diseases in the United States are a few factors driving the growth of the cardiac arrest treatment market in the country. For instance, according to American Heart Association figures published in January 2021, nearly half of the American population has some form of heart disease, including high blood pressure, heart disease, and so on. Arrhythmia affects all age groups in the country, but the risk of developing atrial fibrillation (AF) increases with age. For instance, as per the estimated Heart Disease and Stroke Statistics 2021, the risk of long-term atrial fibrillation is estimated to be 1 in 3 people in the United States. Furthermore, in September 2021, the United States Lacrosse, the governing body of men's and women's lacrosse in the United States, entered a new three-year partnership with Stryker to serve as the Official AED provider of the United States Lacrosse and the United States National Teams. Therefore, owing to such factors, the market in the United States is expected to witness considerable growth.
