External Defibrillator Market is expected to foresee significant growth. North America leads the Market!

External Defibrillator Market is expected to grow at a CAGR of around 8% over the forecast period (2021-2027). In life-threatening situations such as ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia, defibrillators are devices that provide therapeutic shock to a patient’s heart. Defibrillation is a process that involves administering an electric shock to the heart, which depolarizes the cardiac muscles and restores the heart’s normal electric impulse. The market grows as public and private institutions, as well as important companies, increase their focus on public access defibrillators (PAD). Other factors driving market expansion include technologically advanced defibrillator devices, a rapidly rising geriatric population with an increased risk of targeted diseases, and an increase in the incidence of cardiac diseases. The market’s growth is hampered by frequent product recalls, increased pricing pressure on companies, and a lack of awareness of sudden cardiac arrest (SCA).

Moreover, promulgating Sudden Cardiac Arrest (SCA) coupled with rising end-user awareness is generating the demand for the defibrillator. In a study, it was found that the unavailability of defibrillators is the leading cause of SCA. As per the sudden cardiac arrest foundation, there are more than 356,000 out-of-hospital cardiac arrests (OHCA) annually in the U.S., nearly 90% of them fatal. Therefore, the government in developed countries such as the United States, U.K. has mandated to store and maintain Automated External Defibrillators in certain public places such as sports arenas, schools, government facilities, and institutes.

Each year cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU). CVD accounts for 45% of all deaths in Europe and 37% of all deaths in the EU.

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COVID-19 has had three effects on the global economy: direct effects on production and demand, supply chain disruption, and financial impact on firms and financial markets due to strict lockdowns in most countries. Delays in product and service delivery have been observed because of newer protocols and lockdown measures imposed by countries. All these problems have a negative impact on the defibrillator market’s manufacturing and supply chain. However, the growth in cardiovascular patients across all countries offsets the increase in demand, as automated external defibrillator is a beneficial remedy for cardiac arrest.

Based on the type, the market is segmented into Manual External Defibrillator, Automated External Defibrillator (AED), Wearable Cardioverter Defibrillator (WCD). The Automated External Defibrillator (AED) segment leads the External Defibrillator Market. Based on End-User, the External Defibrillator market is segmented into Hospitals & Clinics, Ambulatory Surgical Centers, Home Settings and Others. The Ambulatory Surgical Centers segment commanded the significant share of the External Defibrillator market and is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing elderly population and rising healthcare expenditure.

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For a better understanding of the market adoption of External Defibrillator, the market is analyzed for the countries such as North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia- Pacific), & Rest of World. North America dominated the market in 2020.

Some of the major players operating in the market include GENERAL ELECTRIC COMPANY, ZOLL Medical Corporation, Koninklijke Philips N.V., Stryker, Mediana Co., Ltd, CU Medical System Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd, SCHILLER AG, Nihon Kohden Corporation, Bexen Cardio, etc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions

External Defibrillator Market Segmentation

Market Insight, by Type

• Manual External Defibrillator
• Automated External Defibrillator (AED)
• Wearable Cardioverter Defibrillator (WCD)

Market Insight, by End-User

• Hospitals & Clinics
• Ambulatory Surgical Centers
• Homecare Settings
• Others

Market Insight, by Region

• North America External Defibrillator Market
  • United States
  • Canada
  • Rest of North America
• Europe External Defibrillator Market
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific External Defibrillator Market
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World External Defibrillator Market

Company Profiled

• GENERAL ELECTRIC COMPANY
• ZOLL Medical Corporation
• Koninklijke Philips N.V.
• Stryker
• Mediana Co. Ltd,
• CU Medical System Inc.
• Shenzhen Mindray Bio-Medical Electronics Co. Ltd
• SCHILLER AG
• Nihon Kohden Corporation
• Bexen Cardio