Analysis of Potential Impact of COVID-19 on Automated External Defibrillators Market
The automated external defibrillators (AED) market has seen a robust impetus from the public access to defibrillation programs to improve outcomes in out-of-hospital cardiac arrest. Continuous advances in operators’ parameters and in devices have opened new windows to responders and healthcare personnel in the management of such patients. Transparency Market Research (TMR) observes that the growing utility of the technology for the timely defibrillation of shockable rhythms has underpinned the expansion of the market over the years. The devices are seeing a widespread uptake in pre?hospital settings.
Relentless efforts by medical device manufacturers to unveil automated external defibrillators with high reliability and better effectiveness and safety profiles have helped them strengthen their foothold, notes players. Growing investments by several top players have focused on attaining the optimal point of cost-benefit trade-off to attract consumers and healthcare providers. Further, numerous players in recent years have struck strategic alliances to consolidate their geographic position in the automated external defibrillators market. Some of the well-entrenched players include Philips (Koninklijke Philips), Nihon Kohden, Asahi Kasei, GE Healthcare, and Physio-Control Corporation.
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Growing Feasibility of Public-access AEDs Boost Prospects
The growing health concern of out?of?hospital cardiac arrest, especially in some developed nations around the world, is a key factor driving the market. The growing feasibility of public-access AED has helped catalyze prospects in the market. The global automated external defibrillators market was worth US$1213.40 mn in 2016. Clocking an impressive CAGR of 15.8% from 2017 to 2025, the market is expected to reach US$4473.40 by the end of this period.
Medical device makers in the automated external defibrillators market are reaping consistent streams of revenues from the prevalence of life-threatening cardiac diseases such as cardiac arrhythmias. A great deal of the demand is filliped by rapidly growing aging populations in developed nations, such as Japan. In such regions, the deployment of public?access automated external defibrillators (PAD) has grown substantially over the years.
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Improving Paradigm of Cardiac Care in Developing Markets Makes Strong Proposition of Out-Of-Hospital Defibrillation
Increased focus in recent years over community?based PAD programs has expanded the window of opportunities in the automated external defibrillators market. However, cost-effectiveness of such programs aside, their low benefit is undoubtedly concern, proving to be a challenge for proponents of PAD. Healthcare providers must take due notice of the widening gap between the occurrence of out?of?hospital cardiac arrests and public access to automated external defibrillators. In addition to out-of-hospital settings, device makers in the automated external defibrillators market are earning revenues from the uptake in in-hospital cardiac arrest patients.
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The significant survival rate of bystander cardiopulmonary resuscitation around the world is also a key aspect of the expanding automated external defibrillators market. Growing disposable incomes and improving paradigm of cardiac care in developing countries have catalyzed the uptake of automated external defibrillators in in-hospital settings. Growing awareness about the prevalence and mortality of cardiac arrest has also created a viable market for automated external defibrillators.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Automated External Defibrillators Market (Technology – Semi-Automatic, and Fully-Automatic; Size – Standard Automated External Defibrillator, and Pediatric Automated External Defibrillator; End User – Hospitals, Public Access, Emergency Medical Services, Homes, Work Spaces, and Private Cardiac Clinics) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025.”
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