Over the next two quarters, the demand for medical devices is expected to go through a significant turbulence as OEMs and their suppliers find it arduous to keep workflow running amid travel restrictions and supply chain disruption.
ROCKVILLE, MD / ACCESSWIRE / April 22, 2020 / The global automated external defibrillators market is on an impressive growth trajectory, primarily driven by a rising number of cardiovascular issues. Projecting the market growth at a stellar CAGR of 16.2% during the forecast period (2020 - 2025), a new market study of Fact.MR provides a detailed analysis of the market, with greater emphasis on the COVID-19's impact.
Predominant factors driving the growth are increasing incidence of deaths owing to cardiovascular diseases, on the back of obesity, diabetes mellitus, smoking habits, high blood pressure, and sedentary lifestyles. However, the COVID-19 pandemic has been posing a measurable impact on the global economy and, in turn, on the automated external defibrillator market. Implementation of quarantines, travel constraints, and social distancing measures on a broad-scale is causing an abrupt slump in business and consumer spending until the end of the second quarter.
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"On a positive note, demand for these products might witness a surge as the need to save lives is higher than ever. Despite the ups and downs, the impact is expected to be short-termed as operations revamp in the latter part of the year," says the report.
Segmental Analysis
Fully-automatic external defibrillators segment will gain widespread usage in various healthcare applications on the back of its ability to deliver high-amplitude current impulses to restore normal heart function. Owing to these factors, the segment is expected to register significant growth during the forecast period.
Semi-automatic defibrillators will also witness adequate usage in end-use applications and will capture a healthy market share on the back of easy usage due to clear voice prompts.
Standard automated external defibrillators are anticipated to remain the most sought-out products, owing to increased prevalence of coronary artery disease, physical inactivity and a rise in other health problems.
Hospitals persist dominance with the maximum usage of AEDs, accounting for more than 25% of the global value in sales. This is attributed to an increased number of hospital visits due to the rising prevalence of cardiac problems.
North America will remain its dominant spot in the global AED market, backed by the rising incidence of cardiac arrests in the country coupled with support from the government to use automated external defibrillators. Leveraging on these factors, the region is projected to grow at a tremendous CAGR.
Asia Pacific is bestowing lucrative opportunities to the players in the automated external defibrillators market and is expected to witness stellar growth during the forecast period. The growth is attributed to an increase in severe physical stress due to heavy mental workload, smoking, and physical inactivity, which are collectively increasing cardiovascular problems among the population.
Explore the global Automated External Defibrillators Market report with 81 illustrative figures, 60 data tables and the table of contents. You can also find a comprehensive market segmentation on - https://www.factmr.com/report/4640/automated-external-defibrillators-market
Coverage
Technologies covered: Semi-automatic and Fully-automatic
Sizes covered: Standard AEDs & Pediatric AEDs
End-users covered: Hospitals, Public Access, Emergency Medical Services, Homes, Work spaces and Private Cardiac Clinics
About Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the healthcare sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest healthcare market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Fact.MR