PUBLISHER: Grand View Research | PRODUCT CODE: 1446547
PUBLISHER: Grand View Research | PRODUCT CODE: 1446547
The global automated external defibrillator market size is estimated to reach USD 2.66 billion by 2030, and is anticipated to grow at a CAGR of 9.8% from 2024 to 2030 according to a new report by Grand View Research, Inc. The major key drivers accelerating market growth include the increasing installation of automated external defibrillators (AEDs) in public spaces, rising heart diseases due to genetic factors, aging, poor lifestyle, and technological advancements.
The emergence of cardiac diseases is very high worldwide, leading to escalated demand for the external defibrillator market. According to 2024 British Heart Foundation statistical data, around 620 million people are suffering from heart and circulatory diseases worldwide. The rising geriatric population, poor lifestyle habits, and genetic factors are likely to increase emergency cases of cardiac conditions, which in turn results in hospital admissions. The surge in hospital admissions to ICUs and emergency sectors shows the necessity for AEDs, thereby contributing to overall market growth.
Moreover, government authorities are majorly focusing on the installation of AEDs in public spaces to ensure basic cardiac support in emergency cases. For instance, in May 2022, the Delhi Government installed AEDs in crowded public places such as bus stations, railway stations, and supermarkets. This initiative aimed to provide help to cardiac patients during medical emergencies.
The introduction of technological innovations in defibrillators is driving the market growth. AEDs have been upgraded with numerous new features, such as LCD screens, rechargeable batteries, voice prompts, and new types of shocks. As a result several key market players are also focusing on technological advancement in AED devices to increase accessibility and utility to consumers. Furthermore, several companies aim to advance the technology in these devices to provide security and privacy to consumers. For instance, in January 2023, Avive Solutions, Inc. received U.S. FDA premarket approval for its device, Avive AED. The device features cellular, WiFi, GPS, and Bluetooth connectivity.