External Defibrillators Market Growth & Trends
The global external defibrillators market size is anticipated to reach USD 6.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a notable CAGR of 9.3% from 2022 to 2030. The key factors driving the market growth include rising technological advancements, initiatives for promoting public access AEDs, and the incidence of sudden cardiac arrest. The COVID-19 pandemic increased awareness about defibrillation training and the use of external defibrillators in case of an adverse cardiac event, thus increasing demand for defibrillators. The pandemic also resulted in logistical bottlenecks and operational challenges.
According to the study published in Elsevier, Inc., the number of out-of-hospital cardiac arrests occurring in Paris and its suburbs almost doubled amid the pandemic, from March 16 to April 26, 2020. Such factors are expected to boost sales of external defibrillators. In addition, the International Liaison Committee on Cardiopulmonary Resuscitation (ILCOR) changed the resuscitation guidelines. The new rules suggested improving defibrillation delivery by providing training to healthcare workers, which can reduce confusion as well as the delay in COVID-19 resuscitation efforts. The training would also ensure that healthcare providers are not exposed to additional risks and patients suffering from tachyarrhythmia arrests can be provided the best chance of survival.
Increasing prevalence of the cardiovascular disease is a major driver for market growth. According to the WHO, in 2019, 17.9 million deaths occurred due to cardiovascular disease, which was estimated around 32% globally. Moreover, more than 75% of deaths occurred in middle- & low-income countries. According to American Heart Association, 390,000 sudden cardiac arrests were reported in 2018. Out of these, 65% of deaths occurred in people aged 75 & above, 6% deaths in the age group of 25 to 54 years, and 29% in the age group of 55 to 74 years. Owing to these factors, the demand for external defibrillators is anticipated to increase over the forecast period.
Despite developments in prevention and treatment, sudden cardiac death remains a leading cause of mortality and is accountable for nearly half of all deaths from cardiovascular ailments. The increasing prevalence of SCA and its associated risk factors are expected to increase the demand for AEDs. SCA is one of the leading causes of death around the globe. Moreover, it is the major cause of natural deaths in the U.S., resulting in about 325,000 adult deaths in the country every year. SCA is also responsible for half of all heart ailment deaths.
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