Automated external defibrillators (AEDs) are portable electronic devices that automatically diagnose the life-threatening cardiac arrhythmias of ventricular fibrillation and pulseless ventricular tachycardia in a patient, and are able to treat them through defibrillation, the application of electrical therapy which stops the arrhythmia, allowing the heart to re-establish an effective rhythm. AEDs are designed to be simple to use for the layperson and are designed to minimize the risk of accidental shocks to those surrounding the patient as well as health professionals working on the victim. With rise in cardiovascular incidences and focus on public safety initiatives in offices, schools, town centers etc automated external defibrillators have seen significant growth.
The global Automated CPR Devices Market is estimated to be valued at US$ 127.6 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends propelling the growth of the automated CPR devices market is the increased focus on public safety initiatives worldwide. Various governments and organizations are undertaking initiatives to installations AEDs in public places like airports, shopping malls, educational institutions etc to enable medical assistance during cardiac emergencies. For instance, in 2019 Good Samaritan Law was passed in India to encourage bystanders to provide CPR and AED assistance during medical emergencies without fear of legal liability. Growing awareness about importance of immediate CPR and defibrillation is also driving the demand for automated devices especially in developing regions.
SWOT Analysis
Strength: Global Automated CPR Devices Market Size provide consistent, high-quality chest compressions compared to manual CPR. They reduce caregiver fatigue and ensure that chest compressions continue without interruptions.
Weakness: Automated CPR devices are expensive and require frequent replacement of parts. Their use also requires additional training for medical professionals and first responders.
Opportunity: Growing adoption of automated external defibrillators (AEDs) is creating opportunities for automated CPR devices. Increasing incidence of cardiac arrests and time-critical need for rescue interventions also present market opportunities.
Threats: Budget constraints in hospitals and high costs of automated CPR devices pose significant threats. Limited access to emergency medical services in remote areas also restricts market growth.
Key Takeaways
The global automated CPR devices market is expected to witness high growth at a CAGR of 6.8% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 127.6 Mn in 2023.
Regional analysis: North America currently dominates the market due to favorable reimbursement policies and growing adoption of technological advancements for cardiac care. However, Asia Pacific is expected to grow at the fastest pace owing to improving healthcare infrastructure and increasing investments by key players in developing countries.
Key players: Key players operating in the automated CPR devices market are GlaxoSmithKline plc, Johnson & Johnson, Pfizer Inc., Novartis AG, AstraZeneca PLC, Sanofi S.A., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Perrigo Company plc, Prestige Consumer Healthcare Inc., NeilMed Pharmaceuticals, Inc., Church & Dwight Co., Inc., Navage, Inc., and Xlear, Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it