Pune, India, Nov. 10, 2023 (GLOBE NEWSWIRE) -- A defibrillator is a device that gives a high-energy electric shock to the heart who is in cardiac arrest. This high-energy shock is called defibrillation, and it is an essential process to save the life of someone who is in cardiac arrest. The factors driving the market include the increasing prevalence of cardiovascular diseases and rising training and awareness programs on automated external defibrillators. However, performance issues related to automated external defibrillators are hindering the market growth.
According to our new research study on “Automated External Defibrillators Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Type (Fully-automated External Defibrillators and Semi-automated External Defibrillators) and End User (Hospitals & Clinics, Homecare, and Others),” the global automated external defibrillator market share to reach $2.20 billion by 2030 from $1.55 billion in 2022. The market is estimated to grow at a CAGR of 4.5% from 2022 to 2030.
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Global Automated External Defibrillators Market: Competitive Landscape and Key Developments
Shenzhen Mindray Bio-Medical Electronics Co Ltd, Stryker Corp, BPL Medical Technologies Pvt Ltd, Schiller AG, Mediana Co Ltd, Nihon Kohden Corp, Asahi Kasei Corp, CU Medical Systems Inc, Progetti SRL, and Koninklijke Philips NV are among the leading companies operating in the automated external defibrillators market. The focus of these players is on expanding and diversifying their market presence and acquiring a novel customer base, tapping prevailing business opportunities in the automated external defibrillators market. A few of these strategic initiatives are mentioned below:
In October 2023, The Murcia Health Service took the initiative to improve medical care for patients with palpitations, arrhythmias, and strokes by acquiring 80 state-of-the-art Holters linked to a web server that allowed cardiologists to interpret and read these examinations from any location, automatically integrating the results into the electronic patient record.
In July 2023, Shenzhen Mindray Bio-Medical Electronics Co Ltd had agreed to acquire a 75% equity interest in DiaSys Diagnostic Systems GmbH from Gorka Holding GmbH through Mindray Medical Netherlands BV, a wholly-owned subsidiary of Mindray’s wholly-owned subsidiary MR Global (HK) Ltd, for an all-cash preliminary purchase price of approximately EUR 115 million (USD 123).
Strategies by Key Market Players to Expand Presence in Emerging Markets During 2022 to 2030:
With rising cases of cardiovascular diseases in regions such as Asia Pacific and South & Central America, the automated external defibrillator market players have started to or are expected to strategize their growth in these regions. CVDs have been among the leading causes of death in countries such as India, China, and Brazil. Companies such as Abbott, Medtronic, Asahi Kasei (ZOLL), and Biotronik are expected to continue growing in these emerging markets through mergers, acquisitions, and strategic partnerships in the coming years. In April 2020, Medtronic invested and relaunched the Medtronic Engineering and Innovation Center (MEIC) in Hyderabad, India. The company has invested US$ 160 million to expand the MEIC, which initially opened in 2011. Medtronic also invested over US$ 50 million in its manufacturing facilities in Puerto Rico. The company is considered to be a primary job provider in Puerto Rico, and the investment shows the company’s plan to expand across India. Over the years, there has been a rise in the establishment of sales subsidiaries in Latin America and Asia Pacific by companies such as Nihon Kohden, Medtronic, and Asahi Kasei (ZOLL). Biotronik, with its already established manufacturing plant in Singapore, is planning on implementing its research and development activities in the country to further strengthen its business capabilities.
In addition, the number of public-access automated external defibrillator setups is expected to rise in the coming years, with increasing awareness and training regarding defibrillators and their usage. Also, the demand for implantable defibrillators is expected to grow owing to the rising number of patients approaching healthcare service providers for the treatment of cardiovascular diseases, along with elevating national healthcare expenditures, increasing access to care, and improving economics. For instance, Nihon Kohden, a Tokyo-based medical equipment manufacturer, announced in its 2021 three-year business plan that the company aims to expand its customer base for resuscitation products in Asia, North America, and South America. This aim can be achieved by developing affordable models of defibrillators and providing solutions for improving the utilization rates of AEDs. Thus, growing strategies by key market players to expand their presence in emerging markets are likely to create lucrative opportunities for the automated external defibrillator market growth in the coming years.
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Global Automated External Defibrillators Market: Segmental Overview
The automated external defibrillators market is categorized on the basis of type, end user, and geography. Based on type, the automated external defibrillators market is bifurcated into fully automated external defibrillators and semi-automated external defibrillators. In 2022, the fully automated external defibrillators segment held a larger market share, and the same segment is estimated to register a faster CAGR during the forecast period. Based on end user, the automated external defibrillators market is categorized into hospitals & clinics, homecare, and others. In 2022, the hospitals & clinics segment held the largest market share, and the homecare segment is likely to record the fastest CAGR during the forecast period.
Go through further research published by The Insight Partners:
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