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External Defibrillator Market Research Report: By Type, Technology, Patient Type, End User - Trends Analysis and Growth Forecast to 2030

·3-min read

External Defibrillator Market Research Report: By Type (Wearable, Non-Wearable), Technology (Automatic, Manual), Patient Type (Adult, Pediatric), End User (Public Access Settings, Hospitals, Clinics, and Cardiac Centers, Pre-Hospital Care and Emergency Medical Service Providers, Homecare Settings) - Trends Analysis and Growth Forecast to 2030

New York, Nov. 03, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "External Defibrillator Market Research Report: By Type, Technology, Patient Type, End User - Trends Analysis and Growth Forecast to 2030" -

Valued at $3,926.5 million in 2019, the global external defibrillator market is predicted to generate a revenue of $9,450.3 million in 2030, exhibiting a CAGR of 8.5% from 2020 to 2030, as per the forecast of P&S Intelligence, a market research company based in India.

The main factors driving the expansion of the market are the increasing geriatric population, rapid technological advancements and innovations in automated external defibrillators (AEDs), and the soaring strategic developments being made by the market players.

The growing geriatric population is an important factor fueling the growth of the market. In many countries around the world, the geriatric population is growing at a rapid pace. Japan, China, and the U.S. have the largest, second-largest, and third-largest population of geriatric people, respectively, in the world. As per the 2018 report of the Population Reference Bureau, in the U.S., the number of people in the age bracket 65 years and above is predicted to rise from 46 million to more than 98 million from 2014 to 2060.

As the geriatric people are more vulnerable to various chronic diseases such as cardiovascular diseases, their growing population is expected to boost the demand for external defibrillators across the world. Apart from this, the rapid advancements and innovations in AED technology are also propelling the expansion of the external defibrillator market throughout the globe. One such major technological advancement is the lightweight wearable defibrillator called LifeVest developed by ZOLL Medical Corporation. This device can be worn by the people at risk of sudden cardiac arrests (SCAs).

The main advantage of this device over the conventionally used defibrillators is that it continuously monitors the heart of the patient and delivers shocks if the heart rhythm becomes abnormal. The shocks help in restoring the normal sinus rhythm. Similarly, the modern implantable cardioverter defibrillators (ICDs) developed recently by many defibrillator producing companies have eliminated the requirement of implanting separate pacemakers in patients. These technological innovations in defibrillator technology have tremendously boosted the progress of the market.

In the coming years, the North American external defibrillator market is predicted to demonstrate rapid advancement, primarily because of the increasing healthcare spending, rising incidence of cardiovascular diseases (CVDs), surging public awareness of the various benefits of automated external defibrillators in cases of pulseless ventricular tachycardia and ventricular fibrillation (VF), and the ballooning geriatric population in the region. Furthermore, the governments of many North American countries are increasingly making huge investments in the healthcare industry, which is, in turn, driving the growth of the market in the region.

Hence, with the soaring investments being made by the governments of many countries in the healthcare industry and the rising usage of advanced instruments in healthcare applications, the market will exhibit consistent growth in the forthcoming years.
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