External Defibrillator Market Worth USD 6463.0 Million Worth of 9.4% CAGR Forecast by 2026

The Global External Defibrillator Market was worth US$ 3152.5 Mn in the year 2018 and is projected to reach US$ 6463.0 Mn by 2026. In addition to this, the global market is expected to expand at a noteworthy CAGR of 9.4% during the forecast period.  Fortune Business Insights in a new study, titled “External Defibrillator: Global Market Analysis, Insights and Forecast, 2019-2026” predicts the adoption of external defibrillators to increase in the coming years.  

The rising prevalence of out-of-hospital cardiac arrests is the primary factor responsible for positively impacting the growth of the market. According to a Sudden Cardiac Arrest Foundation (SCAF), around 3,56,000 Americans suffer from out-of-hospital cardiac arrests or OCHA every year. Furthermore, the rising prevalence of obesity, smoking, high blood pressure, and congenital heart diseases is likely to increase the adoption of external defibrillators by 2026. 

Asahi Kasei Corporation to Lead the Market Owing to its Maximum Customer Reach 

Some of the leading players operating in the global external defibrillator market are Philips Healthcare, Physio-Control, Defibtech, LLC., Cardiac Science, Asahi Kasei Corporation, CU Medical Systems Inc., and Stryker. Among these, Asahi Kasei Corporation is the leading player and is anticipated to maintain its dominance in the global market during the forecast period.

Certain factors responsible for driving this company are global customer reach, diverse product portfolio, and strong after-sales customer service. Asahi Kasei and Philips Healthcare together cover more than half of the share in the global market. The revenue generated by these two companies is currently higher than other companies operating in the market.

Rising Demand for Wearable Defibrillator to Create Growth Opportunities

Among products, the wearable defibrillator is likely to comprise the most attractive and fastest-growing product segment during the forecast years. A wearable external defibrillator helps to prevent the risk of sudden cardiac arrests and predicts even before it occurs.

The presence of automatic shock delivery which helps to restore heart rhythm further drives the wearable defibrillator segment. This, coupled with the product’s cost-effectiveness, is expected to offer a favorable environment towards the adoption of a wearable external defibrillator. The global launch of a wearable defibrillator in several countries is expected to create growth opportunities for the market owing to its numerous benefits. This, in turn, will result in rising adoption of external defibrillator pacemakers and life vests.

Other products such as automated external defibrillator (AED) held a share of 45.9% in the global market in 2018. This was primarily on account of its rising adoption and favorable government regulations across the world.

Among end-users, public places are likely to register accelerated growth on account of an increasing number of AED installations in developed and developing regions.

Rising Installations of External Defibrillators in the U.S. Encourages Market to Grow in North America

In 2018, North America was valued at US$ 1690.6 Mn and is anticipated to maintain its dominance through the forecast period. The demand for external defibrillators is expected to increase in several hospitals and public places such as schools, streets, hotels, and railway stations across the countries of North America.

These installations are growing to help people from sudden cardiac arrests, which is why external defibrillators hold a higher share of the global market in this region. Well-established healthcare infrastructure, favorable government policies, and rising awareness among people are other factors encouraging the market to grow in North America. More emphasis on AED training is on cards for the global market in North America. The market in the Asia Pacific is expected to grow substantially owing to improving healthcare infrastructure and rising population.

Browse Complete Report Details:

https://www.fortunebusinessinsights.com/industry-reports/external-defibrillator-market-100949

The Global External Defibrillator Market can be segmented into the following categories: