According to a new report by Transparency Research Market, the global automated external defibrillator (AED) market is projected to grow at a compound annual growth rate (CAGR) of 15.8% from 2017 to 2025, reaching $4.47 billion. Technology-wise, the AED market is segmented into semi-automatic and fully-automatic devices, whereas size bifurcation of the market has been done into standard and pediatric.
Geographically, the report highlights North America as the most lucrative region in terms of volume of demand, although the Asia-Pacific is projected for a much higher growth rate and anticipated to almost match the demand valuation of North America by 2025. Europe is also primed to hold its position as the third most-profitable region in the global AED market.
Strong and expanding prevalence of cardiovascular diseases (CVD) is the primary driver of the AED market. In fact, according to the World Health Organization, CVD is the No.1 cause of death across the world, with casualties estimated at 17.7 million in 2015, representing 31% of global deaths.
As awareness regarding the importance of AEDs grows, the demand in the global AED market is expected to increase. Further, healthcare infrastructure improvements across various emerging economies due to government initiatives and subsidies, the increasing disposable income among urban populations, and the aging global population are some of the other key factors driving AED demand.
On the other hand, the lack of awareness regarding the availability of these life-saving devices and certain cost factors are impeding the AED market in various parts of the world, according to Transparency Research Market officials.