Report Overview

Vietnam External Defibrillator Market - Industry Trends & Forecast Report, 2029

Vietnam external defibrillator market size was estimated at USD 24.22 million in 2022. During the forecast period between 2023 and 2029, Vietnam external defibrillator market size is expected to grow at a significant CAGR of 8.66% reaching a value of USD 45.03 million by 2029. The primary factor fueling the market's revenue growth is an increase in the incidence of cardiovascular disease. Defibrillator sales have increased as a result of various government initiatives, media attention, online content, and word-of-mouth. Both large and small businesses purchasing multiple defibrillators to keep in convenient locations are largely responsible for the global increase in defibrillator sales. The sale of defibrillators in household models is also increasing. As the elderly population grows, they become more knowledgeable about what to do in the event of a cardiac arrest. They also understand that having an automated external defibrillator (AED) on hand doubles survival rates.

Vietnam External Defibrillator Market - Overview

A person's heart can be shocked by an external defibrillator. This shock can help to stop abnormal electrical impulses in the heart, allowing it to return to a regular beating rhythm. The device quickly provides automatic life-saving emergency therapy and can be operated by anyone. AEDs (Automated External Defibrillators) are growing in popularity as word of their value in emergencies spreads. As the baby boomer generation ages and the risk of sudden cardiac arrest rises, businesses and individuals are realizing the importance of having an AED on hand. This realization is directly related to the rising number of defibrillator sales. According to research patients who receive AED treatment in addition to cardiopulmonary resuscitation (CPR) have a nearly twofold higher survival rate than patients who receive CPR only.

Growth Drivers

Increasing Incidences of Sudden Cardiac Arrest

Sudden cardiac arrest (SCA) can happen at any time, at any age, and in any location. Although it is uncommon, sudden cardiac arrest in young people does occur. According to research, several young, seemingly healthy people under the age of 25 die each year from sudden cardiac arrest. As a result, the rising prevalence of SCA and its associated risk factors are expected to boost market demand. A person's heart can be shocked by an external defibrillator. This shock can help to stop abnormal electrical impulses in the heart, allowing it to return to a regular beating rhythm. The device provides results quickly.

Policies Supporting Healthcare Sector

During the forecast period, the market is expected to be fueled by an increasing number of supportive policies implemented by governments, regulatory bodies, and healthcare organizations. Semiautomatic and automatic AEDs are both recommended, while manual defibrillators should only be used by trained professionals. Because of their ease of use, AEDs are preferred over manual defibrillators in low-acuity settings such as medical clinics and allied health and dental clinics.

Restraints

Stringent Regulations and Lack of Awareness

The Vietnam market for external defibrillators is anticipated to experience slow growth due to strict rules and regulations governing medical devices, including AEDs. For instance, to guarantee the quality and dependability of AEDs, the Food & Drug Administration (FDA) mandates that manufacturers obtain premarket approval for all AEDs. The Vietnam external defibrillators market is anticipated to experience slow growth due to a lack of awareness and early intervention for sudden cardiac arrest. For instance, several other medical conditions or ways of living, such as diabetes, obesity, being overweight, eating poorly, not exercising, and drinking excessively, can increase a person's risk of developing heart disease.

Impact of COVID-19 on Vietnam External Defibrillator Market

The COVID-19 pandemic had a negative overall effect on important players in the market for external defibrillators. All of the major players in the external defibrillator market have seen a decline in overall revenue as a result of how the pandemic affected hospitals' purchasing power, especially in small hospitals. Many countries' healthcare systems were overworked during the COVID-19 crisis, and difficulties were encountered in finding, deploying, keeping, and protecting enough well-trained, supported, and motivated health workers. A long-term investment in health systems, including the medical staff and good working conditions, training, and tools, particularly in the fields of personal protective equipment and occupational safety, was necessary. Pandemic has limited hospitals' purchasing power, particularly small hospitals, which has caused supply transactions to be canceled or delayed and impacted the overall revenue of all major rivals in the defibrillator industry.

Vietnam External Defibrillator Market

Segmental Coverage

Vietnam External Defibrillator Market - By Product

On basis of the product, Vietnam external defibrillator market is divided into Manual External Defibrillators, Automated External Defibrillators, and Wearable Cardioverter Defibrillators segments. The manual external defibrillators segment currently dominates the market and is expected to do so throughout the forecast period. The AEDs segment, on the other hand, is expected to grow at the fastest rate during the forecast period. This is due to growing corporate initiatives, increased defibrillator adoption in healthcare facilities, and the implementation of several public access defibrillation programs.

Vietnam External Defibrillator Market - By End Use

On basis of end use, Vietnam external defibrillator market is divided into Hospital, Public Access Market, Alternate Care Market, and Home Healthcare segments. The hospitals segment accounts to hold the highest market share. This is due to an increase in the number of patients admitted to hospitals, increased hospital adoption of external defibrillators, and strategies implemented by key manufacturers. To treat patients with cardiac problems, hospital cardiology units require defibrillators. The rising incidence of hypertension, diabetes, and strokes leading to SCA as a result of a lack of physical activity, poor dietary habits, and smoking could drive demand for defibrillators in hospitals.

Competitive Landscape

Major players in Vietnam external defibrillator include Koninklijke Philips N.V, Stryker ZOLL Medical Corporation, Nihon Kohden Corporation, ProgettiSrl, Schiller AG, Bexen Cardio, Medtronic, Abbott, Boston Scientific Corporation, and BIOTRONIK SE & Co. KG. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

• In July 2020 - Abbot received FDA approval for its next-generation ICSs and CRT-Ds under the brand name Gallant.

Scope of the Report

By Product

• Manual External Defibrillators

• Automated External Defibrillators

• Wearable Cardioverter Defibrillators

By End Use

• Hospital

• Public Access Market

• Alternate Care Market

• Home Healthcare

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Vietnam External Defibrillator Market Insights
   1. Industry Value Chain Analysis
      1. DROC Analysis
      2. Growth Drivers
         1. Rising Prevalence of Target Diseases
         2. Rising prevalence of cardiac diseases
      3. Restraints
         1. Problems with Implanted and Automated External Defibrillators
      4.  Opportunities
         1. Emerging Markets
      5. Challenges
   2. Technology Advancements/Recent Developments
   3. Regulatory Framework
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Vietnam External Defibrillator Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
         1. Manual External Defibrillators
         2. Automated External Defibrillators
         3. Wearable Cardioverter Defibrillators
      2. By End Use
         1. Hospital
         2. Public Access Market
         3. Alternate Care Market
         4. Home Healthcare
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Vietnam External Defibrillator Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
6. Impact of Covid-19 on Vietnam External Defibrillator Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Koninklijke Philips N.V
   2. Stryker ZOLL Medical Corporation
   3. Nihon Kohden Corporation
   4. ProgettiSrl
   5. Schiller AG
   6. Bexen Cardio
   7. Medtronic
   8. Abbott
   9. Boston Scientific Corporation
   10. BIOTRONIK SE & Co. KG
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1.  Qualitative Research
      1.  Primary & Secondary Research
   2.  Quantitative Research
   3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4.  Breakdown of Primary Research Respondents, By Region
   5.  Assumptions & Limitations

*Financial information in case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       Vietnam External Defibrillator Segmentation

Figure 2       Vietnam External Defibrillator Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       Vietnam External Defibrillator Market Size, By Value (USD Million), 2019–2029

Figure 5       Vietnam External Defibrillator Market Share, By Product, By Value, 2019–2029

Figure 6       Vietnam External Defibrillator Market Share, By End Use, By Value, 2019–2029

List of Tables

Table 1        Vietnam External Defibrillator Market Size, By Value (USD Million), 2019–2029

Table 2        Vietnam External Defibrillator Market Size, By Product, By Value, 2019–2029

Table 3        Vietnam External Defibrillator Market Size, By End Use, By Value, 2019–2029

Table 4        Koninklijke Philips N.V Company Overview

Table 5        Koninklijke Philips N.V Financial Overview

Table 6        Stryker ZOLL Medical Corporation Company Overview

Table 7        Stryker ZOLL Medical Corporation Financial Overview

Table 8        Nihon Kohden Corporation Company Overview

Table 9        Nihon Kohden Corporation Financial Overview

Table 10      ProgettiSrl Company Overview

Table 11      ProgettiSrl Financial Overview

Table 12      Schiller AG Company Overview

Table 13      Schiller AG Financial Overview

Table 14      Bexen Cardio Company Overview

Table 15      Bexen Cardio Financial Overview

Table 16      Medtronic Company Overview

Table 17      Medtronic Financial Overview

Table 18      Abbott Company Overview

Table 19      Abbott Financial Overview

Table 20      Boston Scientific Corporation Company Overview

Table 21      Boston Scientific Corporation Financial Overview

Table 22      BIOTRONIK SE & Co. KG Company Overview

Table 23      BIOTRONIK SE & Co. KG Financial Overview