North America Defibrillators Market Emerging Trend, Advancement, Growth and Business Opportunities

One in every four deaths, i.e. 647,000 deaths in the U.S., are a result of cardiovascular diseases (CVD), according to the Centers for Disease Control and Prevention (CDC). If the heart is still beating, but in an arrhythmic pattern, a defibrillator is used to treat it. The device sends an electric shock, which neutralizes a large amount of the current coming from the heart’s natural pacemaker, to allow the sinoatrial node to resume its normal functioning. Arrhythmias can be fatal if not stopped immediately, especially ventricular fibrillation (v-fib), during which the body has no pulse.

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Therefore, with the increasing CVD prevalence, the North American defibrillators market is projected to reach $8.1 billion by 2023 from $6.1 billion in 2017, at a CAGR of 4.9% during the forecast period (2018–2023). A major reason behind the increasing CVD prevalence is the swiftly surging geriatric population in the region. As per the Population Reference Bureau report published in 2018, the population of people in the age group of 65 and above in the U.S. is expected to increase to 98 million by 2060 from 46 million in 2014. Compared to younger people, the elderly are more susceptible to diseases, especially CVDs.

These devices come in two variants: external defibrillators and implantable cardioverter defibrillators (ICD). External ones are commonly seen at hospitals and operated by medical professionals, while ICDs are implanted inside the body, for regular cardiac care. Of these, ICDs have witnessed higher uptake, on account of the technological advancements in these instruments and rising incidence of sudden cardiac arrest (SCA). In the coming years, the external variants are predicted to witness a more rapidly increasing uptake.

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A key trend in the region is itself the rising adoption of automated external defibrillators (AED). The government, at the national and state/province levels, is taking initiatives to install public-access defibrillators (PAD), which are mostly AEDs, for the use of general public, in situations of emergency. Areas which witness a high footfall, such as schools and colleges, train stations, airports, shopping centers, leisure centers, and malls, are being rapidly equipped with AEDs, so that if anyone suffers a heart issue, bystanders can use the device to restore their sinus rhythm, until medical help arrives.

For instance, the Sudden Cardiac Arrest Foundation funded several schools, under its You Can Save a Life at School AED Grant” program, to procure AEDs, in February 2016. AEDs are quite easy to use as they not only measure the voltage required to neutralize the abnormal current flowing through the heart, but also apply it themselves. On the contrary, manual defibrillators measure the voltage required, but the users have to turn the knobs on the device and apply it to the heart, through the paddles.

Presently, the U.S. is the larger contributor to the North American defibrillators market, on account of the increasing prevalence of CVDs, government initiatives aimed at making people aware about defibrillation, and presence of numerous companies offering these products. In the years to come, the adoption of defibrillators is expected to pick up quickly in Canada as well, due to almost similar reasons which lead to their high sale in the U.S.

Hence, as people realize the importance of defibrillators, and governments keep up their efforts to make them easily accessible to the public, their uptake in North America will keep rising.

SOURCE: P&S Intelligence