The automated external defibrillator market reached a value of $616million in the year 2012, and has been forecast to hit a value of $930 million by 2017.
An automated external defibrillator is a portable electronic device that automatically diagnoses the potentially life threatening cardiac arrhythmias of ventricular fibrillation and ventricular tachycardia in a patient, and is able to treat them through defibrillation, the application of electrical therapy which stops the arrhythmia, allowing the heart to re-establish an effective rhythm.
The AED market is divided into two segments, namely, semi-automated and fully automated. Both types are available at nearly the same cost and are equally efficient in saving lives, although they function differently.
Automated external defibrillators were under recent scrutiny by the U.S. Food and Drug Administration (FDA) which is now considering reclassifying AEDs as class III premarket approval devices.
The major reason for this appears to be technical malfunctions that may have been the cause for apparently hundreds of deaths between 2004 and 2009, in most cases by component failures or design errors. Over the last several years dozens of AED models have been recalled from nearly every manufacturer.
North America is the largest market for AED, followed by Japan and Europe. Public access defibrillation programs have stimulated the growth of AED market in these regions. The European and Asian markets are expected to witness double-digit growth over the next five years, owing to the increasing installation of public access AEDs.
Philips represents the leading company within the AED market overall, and in the workplace and public space. The company is chosen by 85% of Fortune 100 corporations, and has shipped more than half a million AED's to date.
The market will grow at a healthy pace in the next five years due to the increasing incidence of cardiovascular disease, growing awareness about the lifesaving potential of AED, increasing installation of public access AEDs, and technological advancements.
For more information on the AED market, see the latest research: AED Market
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