Growing Instances of sudden cardiac arrest cases, heightened efforts by market participants to create more advanced products, initiatives by both government and private organizations to deploy AEDs in public locations, and a growing trend towards sedentary lifestyles among the general population are a combination of factors propelling the External Defibrillators Market.
An external defibrillator is used to help persons who have had a sudden cardiac arrest regain normal heart rhythm. It is a sophisticated yet simple-to-use medical device that can check the heart’s rhythm and, if necessary, provide an electrical shock or defibrillation to help the heart reestablish a healthy rhythm.
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External Defibrillators Market is being driven by technological improvements in external defibrillators
Continuous advancements in both manual and automatic external defibrillators have allowed for the development of more efficient devices with better operations, such as quick shock delivery, voice prompts, and tiny size, among other things. Such improvements tend to provide manufacturers a competitive advantage, therefore leading companies are always focused on new product development to enhance their position in this market. The following are some of the new product advancements:
· In March 2022, Avive secured $22 million in Series A investment for the development of an intelligent automated external defibrillator technology and linked platform to reduce out-of-hospital cardiac arrest deaths.
· In November 2020, HeartHero got CE mark approval for its ‘Elliot’ automated external defibrillator (AED), which is one of the low-cost portable devices with simple operations that weighs little over a pound.
· In June 2020, Philips received pre-market approval for its HeartStart FR3 and HeartStart FRx AEDs from the US Food and Drug Administration (FDA). The HeartStart FR3 is a professional-grade AED designed for medical personnel and first-responders while the HeartStart FRx is a public-access AED for emergency use at public places
· In September 2019, Mindray announced the launch of its BeneHeart C Series automated external defibrillator (AED) featuring smarter operations and faster shock delivery providing better resuscitation outcomes in an event of sudden cardiac arrest (SCA)
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Public-access defibrillation initiatives are boosting its adoption and driving the External Defibrillators Market
One of the top causes of mortality worldwide is sudden cardiac arrest (SCA). Furthermore, the growing senior population, which is predisposed to cardiac abnormalities due to increasing degradation in the structure and function of the heart, as well as the general population’s adoption of a sedentary lifestyle, contribute significantly to the prevalence of SCA in public areas. To address this problem, governmental and private entities have launched a variety of efforts to promote access to external defibrillators or offer funding to support such programs –
· In December 2021, the city of Vancouver has approved a motion put forward by St. John Ambulance B.C. & Yukon to place 1,000 AEDs and first aid supplies throughout the city
· In September 2021, the governing body of men’s and women’s lacrosse in the US — USA Lacrosse, entered in a three-year partnership with Stryker to be an official AED provider to US National Teams and USA Lacrosse at discounted pricing
· In May 2021, the Leona M. and Harry B. Helmsley Charitable Trust has awarded a $6.4 million grant to the Nebraska Department of Health and Human Service (DHHS) for the distribution of 2,500 AEDs throughout the state
· In March 2021, the government in Canada announced an investment of $700,000 to purchase up to 350 AEDs and place them at all the public schools in Nova Scotia
Competitive Landscape Analysis : External Defibrillators Market
The External Defibrillators Market is marked by the presence of Important players such as Stryker Corporation (US); Koninklijke Philips N.V. (Netherlands); Asahi Kasei Corporation (Japan); Nihon Kohden Corporation (Japan); Mindray Medical International Ltd. (China); and others.
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