North America Defibrillators Market Technological Innovation

Posted by Pramod Arya on January 26th, 2021

Driven by the soaring geriatric population, increasing prevalence of cardiac disorders, ballooning requirement of automated external defibrillators (AEDs), and rapid developments and innovations in defibrillation technology, the North American defibrillators market is predicted to grow, in valuation, from .1 billion to .1 billion from 2017 to 2023. Furthermore, as per the predictions of P&S Intelligence, a market research firm based in India, the market will exhibit a CAGR of 4.9% from 2018 to 2023. 

The surging geriatric population in many North American countries is one of the major factors responsible for the growth of the North American defibrillators market. In North America, the population of geriatric people is growing at the fastest rate in the U.S. As per the report published by the Population Reference Bureau in 2018, the total number of people in the age bracket (65 years and above) in the U.S. is predicted to rise from 46 million to more than 98 million during 2014—2060.

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Public access settings, hospitals, clinics, and cardiac centers, home care settings, and pre-hospital care settings are the main categories present under the end user segmentation of the market. Out of these categories, the hospitals, clinics, and cardiac centers category generated the highest revenue in the market over the last few years. However, the fastest market growth will be exhibited by the public access settings category in the future years, owing to the ballooning utilization of AEDs in this category.

In North America, the market will demonstrate the highest growth in the U.S. in the upcoming years. This is ascribed to the rising prevalence of sudden cardiac arrests (SCAs), increasing usage of AEDs in hospitality settings and schools, soaring number of initiatives being taken by the government for creating awareness about these devices and provide training programs on defibrillation, and the existence of numerous defibrillator producing companies in the region.