Market Trends of Defibrillator Industry
This section covers the major market trends shaping the Defibrillator Market according to our research experts:
Fully Automated External Defibrillator is Expected to Witness Growth Over the Forecast Period
A fully automated external defibrillator (AED) is designed to automatically deliver a shock when needed without the rescuer having to press a button to deliver the shock. The device communicates step-by-step instructions to let rescuers know when the victim is about to receive a shock. Fully automatic models are designed to assist responders in cardiac arrest emergencies. Many studies have shown that fully automatic AEDs are safe, and effective, and can reduce extended delays associated with hesitating to press the shock button during a rescue.
The launch of various programs, awareness campaigns, product launches, and AED management platforms to promote the importance of fully automated external defibrillators are the major factors driving the segment's growth. For instance, in August 2022, Portage Health Foundation (PHF) announced a one-time automated external defibrillator (AED) grant program to address the foundation's long-term sustainability goal of building safer communities. Additionally, in March 2021, the government of Australia launched an automated external defibrillator at the Government house of Australia. The AED was a joint venture between St. John Ambulance Australia and Zoll Medical Australia.
Also, in August 2022, the Great Western Air Ambulance Charity team launched an automated external defibrillator (AED) usage campaign during CPR in the United States. Likewise, in June 2021, WhaleTeq launched the first automated external defibrillator management platform with their latest defibrillator test, DSF2000 to fill in the AED testing and management gap. Thus, the rising awareness programs for AED and increasing product launches by various government organizations are expected to contribute to the growth of the market.
North America is Expected to Hold Significant Share in the Defibrillator Market Over the Forecast Period
North America is expected to hold a significant share of the market over the forecast period owing to the high prevalence of cardiovascular diseases, increasing adoption of technologically advanced defibrillator products, and the presence of major market players. For instance, the ACC article published in May 2022 mentioned that about 377,000 adults and 23,000 children experience out-of-hospital cardiac arrest each year in the United States.
Also, as per the February 2022 report from the Heart and Stroke Foundation of Canada, 750,000 people are living with heart failure, and 100,000 people are diagnosed with this incurable condition each year in the country and it is projected that by the year 2030, the healthcare costs associated with heart failure in Canada will reach up to USD 2.8 billion per year. Hence, with this high number of heart patients along with the increasing economic burden due to heart failure in the country, the market is expected to witness high growth over the forecast period in this region.
The presence of a key market in this region and the development of advanced products to meet the growing demand for defibrillators is expected to contribute to the growth of the market. For instance, in December 2021, Boston Scientific launched the MODULAR ATP clinical trial to evaluate the safety, performance, and effectiveness of the mCRM Modular Therapy System. The mCRM system consists of two cardiac rhythm management devices, the EMBLEM MRI subcutaneous implantable defibrillator (S-ICD) system and the other.
Therefore, owing to the aforesaid factors, such as the high burden of cardiovascular diseases, innovative product launches, are expected to contribute to the growth of the studied market in the North America Region.
