Automated External Defibrillator (AED) Market Growing Due to Rising Geriatric Population and Cardiac Disease Prevalence

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Automated External Defibrillator (AED) Market Growing Due to Rising Geriatric Population and Cardiac Disease Prevalence

February 13
12:53 2020
Automated External Defibrillator (AED) Market Growing Due to Rising Geriatric Population and Cardiac Disease Prevalence
The global automated external defibrillator (AED) market was valued at $1,476.0 million in 2018 and is expected to reach $3,991.5 million by 2030, advancing at a CAGR of 8.8% during 2020–2030 (forecast period).

The key driver behind the advancement of the market is the rising occurrence of cardiac diseases, especially among the geriatric population. AED is a lightweight, portable device, which is used to deliver a shock to the heart, to stop an irregular heart beat (arrhythmia) and bring back the sinus rhythm, after a sudden cardiac arrest (SCA).

The increasing population of the elderly is one of the most significant factors driving the automated external defibrillator (AED) market. Globally, it has been witnessed that the U.S. has the fastest growing geriatric population, after China and Japan, and, the major cause of mortality in the elderly is coronary heart disease (CHD). Thus, the growing number of the elderly has increased the demand for AEDs, and it is projected that the need for various types of such equipment would further boost the growth of the market during the forecast period.

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A significant trend being observed around the world is the growing focus on the installation of AEDs in public places. These life-saving devices are being installed in public places, such as schools, colleges, railway stations, airports, and malls, in the wake of the increasing prevalence of cardiac emergencies. Many organizations in the U.S. are taking the initiative to install public-access defibrillators (PADs), to provide people suffering from SCA or arrythmias with immediate help, thereby leading to the growth of automated external defibrillator (AED) market.

The automated external defibrillator (AED) market is competitive in nature, and the existing players are adopting various strategic measures, such as product launches, and mergers and acquisitions, to maintain their position in the market. The strategies are helping companies develop innovative and advanced the AEDs to assist the public, which automatically increases the focus of healthcare professionals and patients on using them. Thus, the demand for upgrading the technology and introducing advanced products is boosting the market growth prospects. 

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Globally, North America is projected to account for the largest revenue share in the automated external defibrillator (AED) market in 2030. This can be attributed to the existence of established players in the market, rising geriatric population, and increasing awareness among people about the usage of AEDs during a cardiac arrest. Other regions, such as Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA), also hold considerable shares in the market.

The market displays considerable growth potential for the forecast period due to the demand for advanced devices and the increasing geriatric population that requires AEDs in cases of SCA.

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