U.S. and Canada External Defibrillators Market Expected to Reach $2 Billion by 2031

According to a new report published by Allied Market Research, titled, "U.S. and Canada External Defibrillators Market by Product Type, End User: Global Opportunity Analysis and Industry Forecast, 2022–2031,"

The U.S. and Canada external defibrillators market size was valued at $1.12 billion in 2021 and is projected to reach $2 billion by 2031, registering a CAGR of 5.9% from 2022 to 2031.

Electronic devices that are designed to deliver controlled electric shocks to the heart in cases of sudden cardiac arrest are called as external defibrillators. The primary function of external defibrillators is to restore a normal heart rhythm by administering an electric shock that is called as defibrillator. The automated external defibrillators (AEDs) are user-friendly devices and are commonly used in public spaces, schools, and workplaces. The manual external defibrillators are used by healthcare professionals in clinical settings, which allows for more precise control over the defibrillation process. Factors that drive the growth of U.S. and Canada external defibrillators market are technological advancements such as advent of automated external defibrillators (AEDs) for public access places, rise in incidence of sudden cardiac arrest, and growth in awareness toward public access to defibrillators. The rise in incidences of sudden cardiac arrest needs external defibrillators to regulate the heart rhythms. For instance, according to Heart and Stroke Foundation of Canada (HSFC), every year about 35,000 cardiac arrests occur in Canada. Further, as per the same source about 90% of the cardiac arrest are fatal and occur outside the hospital. Thus, rise in prevalence of cardiac arrests drives the demand for external defibrillators, which in turn, boosts the U.S. and Canada external defibrillators market growth. In addition, rise in prevalence of obesity, sedentary behavior, and smoking population also contribute towards the rising prevalence of cardiac arrest. For instance, according to Centers of Disease Control and Prevention (CDC), non-smokers who breathe secondhand smoke at home or at work increase their risk of developing heart disease by 25–30%.

Further, improving healthcare attractiveness is anticipated to boost the sale of home-based defibrillators such as wearable external defibrillators and automated external defibrillator (AEDs). The ability of the defibrillator device to diagnose early onset of ventricular tachycardia and ventricular defibrillation is expected to promote its demand, which in turn, boosts the market growth. Moreover, surge in development of advanced defibrillators and rise in awareness about cardiac heath and preventive interventions also support the U.S. and Canada external defibrillators market growth. The initiatives taken by various organizations to raise the sudden cardiac arrest awareness has increased the demand for external defibrillators. The public awareness campaigns have effectively communicated the importance of early defibrillation, which has increased the adoption of automated external defibrillators (AEDs) in public spaces and communities. For instance, American College of Cardiology (ACC), celebrates sudden cardiac arrest Awareness month in October every year to provide knowledge about CPR for health care providers and general public. However, high cost of external defibrillators negatively impact the market growth. For instance, the price of Defibrillator Professional Heart Shock Device with ECG Monitor Defi8 is ranges from $3,000.0 to $3,600.0 In addition, the price of Philips’s AED Heartstart Onsite Defibrillator ranges from $1,479 to $2,000. Thus, high cost of external defibrillators limit their adoption and restrain the market growth. On the basis of product type, the market is classified into manual external defibrillator, automated external defibrillators, and wearable cardioverter defibrillator. The automated external defibrillator segment dominated the market in 2021. This is attributed to increase in its installations at public places such as schools, workplace, airports, sports arenas, government offices, and other public or private places. On the basis of end user, the market is classified into hospitals, pre-hospitals, public access market, alternate care market, and home. The hospital segment dominated the market in 2021, owing to the holistic coverage of defibrillator services through hospital settings.

Key Findings of the Study

• By product type, the automated external defibrillator segment dominated the U.S. and Canada external defibrillators market in 2021.
• By end user, the hospitals segment dominated the U.S. and Canada external defibrillators market in 2021.