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Why will North American Defibrillators Market Exhibit Rapid Progress in U.S in Coming Years?
Driven by the soaring geriatric population, increasing prevalence of cardiac disorders, ballooning requirement of automated external defibrillators (AEDs), and rapid developments and innovations in defibrillation technology, the North American defibrillators market is predicted to grow, in valuation, from $6.1 billion to $8.1 billion from 2017 to 2023. Furthermore, as per the predictions of P&S Intelligence, a market research firm based in India, the market will exhibit a CAGR of 4.9% from 2018 to 2023.
Browse report overview and detailed TOC at North American Defibrillators Market Demand Forecast
The surging geriatric population in many North American countries is one of the major factors responsible for the growth of the North American defibrillators market. In North America, the population of geriatric people is growing at the fastest rate in the U.S. As per the report published by the Population Reference Bureau in 2018, the total number of people in the age bracket (65 years and above) in the U.S. is predicted to rise from 46 million to more than 98 million during 2014—2060.
Public access settings, hospitals, clinics, and cardiac centers, home care settings, and pre-hospital care settings are the main categories present under the end user segmentation of the market. Out of these categories, the hospitals, clinics, and cardiac centers category generated the highest revenue in the market over the last few years. However, the fastest market growth will be exhibited by the public access settings category in the future years, owing to the ballooning utilization of AEDs in this category.
The North American defibrillators market is also expected to exhibit rapid growth in Canada over the next few years. This is primarily attributed to the rising government incentives and measures being taken in the country, such as investments and other initiatives, for increasing awareness and providing defibrillation training to the people, increasing incidence of cases of sudden cardiac arrests, and the existence of several local defibrillators supplying companies in the country.
