As the number of incidences of ‘unexplained,’ ‘sudden,’ and ‘unexpected’ cardiac-related events grow globally at an alarming rate, unsurprisingly, market research has determined that the Automated External Defibrillator (AED) market will also see a massive rise in both demand and profits.
With independent news outlets reporting multiple daily incidences of unexplained cardiac events causing loss of life, there are growing calls for an increase in the installation of publicly accessible AEDs by those who have lost loved ones in the hope that they will make a difference in saving other lives.
According to Transparency Market Research (TMR), which employs rigorous primary and secondary research techniques to develop material and data sets for business reporting, the Automated External Defibrillator industry is set to experience a growth at a compound annual growth rate (CAGR) of 15.8 per cent and gain a valuation of USD 4473.4 million (Mn) during the forecast period of 2017-2025.
TMR highlighted the reason for the attribution of the projected growth, stating,
“The market is being driven by many factors such as an increase in the prevalence of cardiac disorders across major parts of the globe.”
According to an article published by Bio Space last week, the Middle East and Africa, North America, Latin America, Asia Pacific, and Europe are the key regions in the global automatic external defibrillator market. Companies such as Asahi Kasei Medical Co. Ltd., Nihon Kohden Corporation, PRIMEDIC (Metrax GmbH-Member of Yuwell Group), Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Koninklijke Philips N.V., Schiller AG, Physio-Control Inc. (Stryker), and Cardiac Science Corporation are among those who are due to see the profit gains.
While neither TMR nor Bio Space ventured into a deeper analysis of why the global incidences of cardiac events are soaring, it noted that they were fueling the market showing that North America is set to maintain market dominance due to a rise in the numbers of cardiac patients, with the Asia Pacific region predicted to see considerable profits as cases of cardiac disorders in the region surge.
Bio Space said AEDs were gaining ‘impetus’ due to their ability to assist in restoring irregularities in heart rhythm using the technique of giving an electric shock to the heart stating, “These devices are intended for the identification and treatment of two types of nonstandard heart rhythms such as ventricular fibrillation (VF) and pulseless ventricular tachycardia (pulseless VT).”
“Rise in the utilisation of this device in the treatment of patients with abrupt cardiac arrest is estimated to create revenue-generation opportunities in the global automated external defibrillators market in the years ahead. Furthermore, the surge in the number of people addicted to alcohol and smoking may bring lucrative prospects in the market.”
Understanding the TMR/Bio Space publication is essentially a market report; while there is no doubt that AEDs are a necessary life-saving tool, the use of terms such as “opportunity, ‘revenue generation, and ‘lucrative prospects’ is unsettling when one considers that projected profits are to be fuelled by our loved ones, family, friends, and associates dropping around us like flies at an alarming rate.
An opportunity grasped or created by some other means? Either way, the thought of players in the Automated External Defibrillator market drooling at the prospect of massive financial gains due to rapidly escalating global ‘medical misfortunes’ does not sit well.
Noting that AEDs are already being used in emergency medical services, hospitals, public access, workspaces, homes, and private cardiac clinics, Bio Space reports that demand is estimated to increase at workspaces owing to the surge in stress levels at workplaces globally and says that good training programs are being implemented in the use of AED’s which, “may assist in the prevention of unfortunate events including deaths due to cardiac arrest.”