In last couple of years, travel and transport industry has been heavily hampered due to the Covid-19 pandemic. The public access AEDs were almost unused in many parts of the wo. This has seen a slight decline for small period. The impact of the crisis has been significant, with many facing cash flow difficulties. Reduced spending and consumption capacity, operating restrictions and fear of contagion have all contributed to this. However, it is expected to recover in coming years. There are many companies and countries which are working towards better healthcare facilities are going to invest more. They are easy to use and portable. But wearable variants often cause sleep disturbance, skin rashes, sunburns, and itching. So, patients and doctors prefer non-wearable external defibrillators.
The Automated External Defibrillator Market is consolidated competitive, with the presence of few major players. However, the market players are introducing new products in cost-effective pricing with technological advancements and product innovation. Some of the market players include Asahi Kasei Corporation, Stryker Corporation, Nihon Kohden Corporation, Koninklijke Philips NV, Mediana Co. Ltd., among others.
New and innovative products are continuously being researched and launched in the AED market by different market players. Zoll, Philips, and Cardiac Science also have launched these types of products for different end-uses. Modular and comparatively easier AEDs, which are also fully automatic are being introduced and used. The combination of CPR or external assisted breathing with AED is helping many patients save their lives. Public access and home application is also growing but they are mainly used in developed countries. Hence new product development especially for non-skilled users, will always gather the sales.
Furthermore, rise in the technological advancements in defibrillators and an increase in investments from private players help in the growth of the market studied. Adding to that, various strategies such as product launches, developments, collaborations, partnerships and expansions are being adopted by the market players to increase market share.
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Based on technology, The automatic bifurcation, held larger share in the market
This is because these variants require almost no technical expertise, which helps cardiac arrest or arrhythmia patients get immediate treatment, without the need to go to a proper medical facility. This is why they are being rapidly installed at airports, railway stations, shopping and sports complexes, and other public spaces.
The healthcare market overall is an attractive market. Investors and funding companies have started investing and are also realizing good results from the healthcare market. All three segments, pharmaceuticals, medical devices and healthcare IT have gained substantially in recent times. The AEDs is under the devices segment and is popular over last few years. There has been a tremendous growth in heart related medical conditions and hence AEDs are also in increasing demand.
In an effort to eliminate the competition and consolidate their own position in the industry, companies in the market are engaging in acquisitions.
However, the devices face much stricter regulations compared to those of other categories. They take longer time and labor for the complete approval process, which is one of the biggest restraining factors of the market. Additionally, there is a lack of awareness among people about taking corrective actions at the earliest in relation to sudden cardiac arrest, especially in the emerging markets, which also hampers the growth of the market.
Key Market Segments:
Important countries in all regions are covered