Automated External Defibrillator Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Automated External Defibrillator Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Automated External Defibrillator Market size is estimated at USD 0.96 billion in 2024, and is expected to reach USD 1.45 billion by 2029, growing at a CAGR of 8.78% during the forecast period (2024-2029).

The COVID-19 pandemic had a significant impact on the growth of the market. This was due to the postponement of cardiovascular surgeries and the reduction in the cardiac surgery volume due to the strict regulations imposed by various governments during the pandemic. According to the NCBI article published in July 2021, there was a 52.7% reduction in adult cardiac surgery volume in the United States during the first half of 2020. Such a reduction in cardiac surgeries impacts the demand for an automated external defibrillator used in cardiac procedures. However, the resumption of cardiac surgical procedures during the post-pandemic period is expected to regain the demand for automated external defibrillators, thereby contributing to the market's growth over the next five years.

The major factors driving the automated electronic defibrillator market growth include the increasing prevalence of cardiac diseases, the rising geriatric population, and technological advancements in the field, supported by increasing investments from market players.

According to the data published by the British Heart Foundation in August 2022, in the United Kingdom, over 7.6 million people live with heart or circulatory disease in 2021. Such increasing prevalence of cardiovascular diseases led to an increasing need for automated external defibrillators. Such patient conditions are expected to drive the growth of the market over the forecast period.

Also, the rising number of cardiovascular patients who needed surgical procedures is expected to contribute to the demand for an automated external defibrillator, thereby boosting the growth of the market. According to British Heart Foundation data, published in January 2022, nearly 284,000 people were waiting for time-critical heart operations and other heart procedures at the end of November 2021. Such an increasing number of cardiovascular surgeries generates a need for automated external defibrillators, thus driving the market's growth.

Moreover, the technological advancement in the field and the rising support by various governments boosts the market's growth. For instance, in March 2021, the Government House in Australia launched the St. John-branded public access defibrillator, an automated external defibrillator (AED). The AED was a joint venture between St John Ambulance Australia and Zoll Medical Australia.

Thus, the automated external defibrillators market is expected to show lucrative growth over the forecast period owing to the rising burden of cardiovascular diseases and increasing launch of advanced automated external defibrillators. However, factors such as stringent regulations and lack of awareness and early corrective measures about sudden cardiac arrest may hinder the growth of the studied market over the forecast period.

Automated External Defibrillator (AED) Market Trends

Fully automated External Defibrillators is Expected to Hold a Significant Share in the Market Over the Forecast Period

The rising prevalence of cardiac diseases across different age groups due to stressful work conditions, sedentary lifestyles, growing consumption of tobacco and alcohol, and substance abuse is expected to drive the growth of the fully automated external defibrillator segment over the forecast period.

According to the BMJ article published in August 2021, around 80% of the study participants diagnosed with atrial fibrillation in the United kingdom population were eligible for early rhythm control. Such a growing burden of arrhythmia creates demand for the automated external defibrillator and is expected to drive the growth of the studied segment over the forecast period. Also, the rising geriatric population is expected to contribute to the growth of the studied segment. As per the UN report published in 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. Such an increase in the geriatric population prone to develop cardiovascular diseases is expected to contribute to the growth of the studied segment over the forecast period.

Also, the increasing product launches are expected to contribute to the segment's growth over the forecast period. For instance, in October 2021, CellAED launched the handheld, smart personal Automated external defibrillator, which is available for pre-order in Europe.

Thus, the factors such as the rising geriatric population and increasing prevalence of cardiovascular diseases along with the launch of advanced fully automated external defibrillators contribute to the growth of the studied segment over the forecast period.

North America is Expected to Hold a Major Market Share Over the Forecast Period

The North American automated external defibrillators market is expected to grow during the forecast period due to the high burden and increasing prevalence of cardiovascular diseases, new product launches, and the emerging number of key market players in the region.

Additionally, the rising geriatric population is also expected to drive the growth of the market in North American countries. For instance, the data published by Statistics Canada in August 2022 indicated that the population aged 70 to 74 years in Canada was 1,847,585 whereas the population aged 80 to 84 years was 840,545. Such a rise in the geriatric population who are prone to developing cardiovascular diseases is expected to drive the demand for automated external defibrillators, thereby contributing to the growth of the market.

Additionally, the increasing awareness campaigns regarding automated external defibrillators, product approvals, and product launches are expected to reinforce growth prospects over the forecast period in the North American region. For instance, in August 2022, Great Western Air Ambulance Charity launched an event to teach CPR and automated external defibrillator usage. This event coincided with the unveiling of a public-access defibrillator.

Similarly, in August 2021, Kestra Medical Technologies, Inc. received United States FDA premarket approval for the Assure wearable cardioverter defibrillator (WCD) system. This ASSURE WCD system represents the next generation of monitoring and therapy to protect patients at risk of sudden cardiac death.

Thus, the factors such as the increasing prevalence of cardiovascular diseases, the presence of major market players along with frequent product launches are expected to contribute to the growth of the market in this region over the forecast period.

Automated External Defibrillator (AED) Industry Overview

The automated external defibrillator market is moderately competitive, with the presence of a few major players like Asahi Kasei Corporation, Koninklijke Philips NV, Nihon Kohden Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd, Schiller AG, Stryker Corporation, CU Medical System Inc., Mediana Co. Ltd, BPL Medical Technologies Pvt. Ltd, ViVest Medical, and Others.

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