New York, United States , June 24, 2024 (GLOBE NEWSWIRE) — The Global External Defibrillators Market Size is set to surge from USD 3.30 Billion in 2023 to USD 7.45 Billion by 2033, with a Compound Annual Growth Rate (CAGR) of 8.48% during the projected period.
An external defibrillator is a crucial medical device designed to deliver an electric shock to restore the normal rhythm of the heart in cases of life-threatening cardiac arrhythmias. The demand for external defibrillators is driven by the elevated risk of various heart conditions across diverse populations and the increasing utilization of at-home external defibrillators to mitigate the risk of cardiac arrest. Moreover, the escalating cases of alcohol addiction, smoking, hypertension, cardiovascular illnesses, and the rising aging population are fueling the market growth for external defibrillators globally.
The automated external defibrillator segment leads the market with the largest revenue share in 2023, indicating the significance of automated solutions in administering defibrillation and restoring heart rhythm. Hospitals emerge as the dominant end-user segment, with a substantial market share expected to be held through the forecast period. North America takes the lead in market dominance, buoyed by healthcare regulations, public access defibrillation initiatives, and increasing awareness about cardiac disorders. Meanwhile, the Asia-Pacific region is poised for rapid growth, driven by rising cases of chronic illnesses and cardiovascular diseases.
The competitive landscape of the global external defibrillators market features key players such as Medtronic, Abbott, Stryker Corporation, Koninklijke Philips N.V., and others, actively engaged in product development, strategic partnerships, and innovations to enhance market presence. Spherical Insights & Consulting forecasts revenue at the global, regional, and country levels from 2020 to 2033, offering detailed segmentation analysis based on product, end-users, and region to provide comprehensive market insights.
For more information on the global external defibrillators market trends, projections, and industry analysis, consult the detailed report available for purchase. The market is poised for significant growth opportunities, driven by technological advancements, healthcare infrastructure improvements, and increasing awareness about cardiac health globally.
