Defibrillators devices are used to deliver the therapeutic shock to a patient’s heart in life-threatening conditions such as ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia. The defibrillation procedure encompasses delivery of an electric shock to the heart, which depolarizes heart muscles and restores its normal electric impulse. Growing focus towards public access defibrillator (PAD) by the public & private organizations has fueled the market growth. Moreover, advanced defibrillator devices, a rapidly growing geriatric population with an elevated risk of targeted diseases, and increasing incidence of cardiac diseases among all ages are further driving the market growth. However, product failures and recalls, increasing pricing pressure on players and lack of awareness about sudden cardiac arrest (SCA) are restraining the growth of this market.
In addition, external defibrillators are categorized into manual external defibrillator (MEDs), automated external defibrillator (AEDs) & wearable cardioverter defibrillator (WCDs). AEDs are most commonly used external defibrillator accounting for more than two-thirds of external defibrillator market revenue in 2015. However, WCDs are gaining express momentum and is expected to churn substantial revenue share of both MEDs and AEDs during the forecast period due to its easy to use and wearable features.
AED is the preferred external defibrillation system:
SCA is the leading cause of death globally, which is a life-threatening condition. It can be treated successfully by early intervention of the disease with defibrillation at the right time. The global external defibrillators market is dominated by automated external defibrillators (AEDs) and expected to grow at the highest rate in future due to increase in adoption by heart failure patients across the globe. The increasing installations of public access AEDs, growing incidence of cardiovascular diseases, and growing awareness regarding the life-saving potential of AEDs have fueled the market growth. The second largest market of external defibrillators is covered by manual external defibrillators followed by wearable external defibrillators.
Growing incidence of sudden cardiac arrest (SCA) and cardiovascular diseases: throttling the market growth
American Heart Association, 5.5 million people are affected by heart failure in the U.S. alone, while 10 million in European countries. Furthermore, in the U.S., around 700,000 new cases of heart failure are diagnosed annually and approximately 58,000 patient deaths are attributed to heart failure annually. This is one of the major driving factors for the growth of the defibrillators market. Moreover, the rising incidence of diabetes, atherosclerosis, strokes, hypertension, and others due to lifestyle habits such as unhealthy dietary habits, lack of physical activity and smoking, among others, is the leading cause of CHF. Moreover, rising geriatric population base is expected to fuel the prevalence of CHFs, thereby augmenting the market growth.
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