Global CPR Devices Market Set For Rapid Growth, To Reach USD 124.08 Million by 2024
Sarasota, FL -- (SBWIRE) -- 12/24/2018 -- Zion Market Research has published a new report titled "CPR Devices Market by Device Type (Mechanical Piston Device, Active Compression-Decompression (ACD) Devices, Impedance Threshold Device, Load-Distributing Band CPR or Vest CPR, Phased Thoracic-Abdominal Compression-Decompression CPR With a Hand-Held Device, Extracorporeal Techniques, and Invasive Perfusion Devices), By End-user (Ambulances, Coronary & Intensive Care Units, Cardiac Catheterization Labs, Organ Transplant Facilities, Air Medevac Units, EMT Rescue Units, Hospital, Pre-hospital, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024". According to the report, the global CPR devices market was valued at around USD 64.99 million in 2017 and is expected to reach around USD 124.08 million by 2024, growing at a CAGR of 10.5 % between 2018 and 2024.
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Automatic mechanical cardiopulmonary resuscitation devices perform uninterrupted high-quality CPR and increase survival odds. Being safe, noninvasive method of mechanical cardiopulmonary resuscitation their use has advanced in the emergency medical services thus expected to represent lucrative growth in the forecast period.
Increased frequency of cardiac arrests due to cardiovascular diseases and physical traumas are expected to augment the growth of CPR devices market over the years to come. The prevalence of lifestyle disease has been reported to be high in high–income countries, particularly due to a sedentary lifestyle. Thus, in turn, is expected to have a positive impact on the CPR devices market. However, lack of awareness and the high cost of devices may hinder the growth of this market. Technological advancements in CPR devices are expected to present lucrative opportunities to the leading players over the next few years.
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Global CPR devices market is categorized based on device type, end-user, and region. Based on device type, the market can be segmented into mechanical piston device, impedance threshold device, load-distributing band CPR, active compression-decompression devices, thoracic abdominal compression-decompression CPR, invasive perfusion devices, and extracorporeal techniques. Mechanical CPR devices and load-distributing band CPR were the most commonly used devices and accounted maximum share in 2016.
On the basis of the end user, the CPR devices market is segmented into ambulances, cardiac catheterization labs, coronary & intensive care units, EMT rescue units, air medevac units, pre-hospital, hospital, and others. Ambulance and hospital segments were the major end users accounting for the major revenue share in 2017. The pre-hospital and coronary & intensive care units were the fastest growing segments.
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By geography, North America and Europe were the major regions occupying major revenue for the global CPR devices market. North America dominates the CPR market owing to the presence of advanced medical and healthcare facilities. According to the American Heart Association, approximately 60 thousand individuals suffer from cardiac arrest and receive cardiopulmonary resuscitation in the United States each year. The growing incidences of outdoor cardiac arrest are accelerating the growth of CPR devices market in this region. Europe followed North America in terms of revenue generation and was the second after North America. The growth in this region was due to the prevalence of heart diseases and rising incidence of cardiac arrests. In addition, the presence of advanced emergency medical services and wide adoption of automated CPR devices in this region is expected to drive the growth of the market. The Asia Pacific was the fastest growing market. Rising awareness about the benefits of CPR devices and increasing government initiatives in terms of developing healthcare infrastructure were the key factors driving the growth of CPR devices market in this region. Latin America is another key regional market and is expected to present significant growth in the forecast period owing to rising healthcare infrastructure. The Middle East and Africa region anticipate witnessing significant growth within the forecast period.
Some of the major players operating in the market such as CPR Medical Devices, Inc., General Electric Company, Michigan Instruments, Koninklijke Philips N.V., Physio-Control, Inc., St. Jude Medical, Inc., and ZOLL Medical Corporation.
This report segments the global CPR devices market as follows:
Global CPR Devices Market: Device Type Analysis
Mechanical Piston Device
Active Compression-Decompression (ACD) Devices
Impedance Threshold Device
Load-Distributing Band CPR or Vest CPR
Phased Thoracic-Abdominal Compression-Decompression CPR With a Hand-Held Device
Extracorporeal Techniques and Invasive Perfusion Devices