MarketsandMarkets forecasts the global resuscitation devices market is projected to reach USD 8.7 billion by 2025 from USD 6.9 billion in 2020, at a CAGR of 4.7%.
Northrook, IL -- (SBWIRE) -- 04/03/2020 -- According to the new market research report "Resuscitation Devices Market by Product (Defibrillator, Endotracheal & Tracheostomy Tube, Masks, Airways, Laryngoscopes, Resuscitators, Ventilators), Patient Type (Neonatal, Adult), End User (Hospital, Ambulance, ICU), Volume - Global Forecast to 2025", published by MarketsandMarkets™, the Resuscitation Devices Market is projected to reach USD 8.7 billion by 2025 from USD 6.9 billion in 2020, at a CAGR of 4.7% during the forecast period.
The growth in the global Resuscitation Devices Market is driven by the rising prevalence of target diseases, increasing demand for emergency care, growing focus on providing public-access defibrillators, high incidence of preterm births, and training & awareness programs on defibrillators. Also, emerging markets and the development of wearable defibrillators are expected to offer growth opportunities for players operating in this market.
Airway management devices segment accounted for the largest share of the market in 2019
On the basis of product, the market is segmented into external defibrillators, airway management devices, convective warming blankets, and other resuscitation devices. The airway management devices segment accounted for the largest share of this market in 2019, majorly due to the high prevalence of chronic respiratory diseases, increasing demand for emergency care, and the high incidence of preterm births.
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Hospitals, ASCs, and cardiac centers segment accounted for the largest share of the market, by end user, in 2019
Based on end user, the market is segmented into hospitals, ambulatory surgical centers (ASCs), and cardiac centers; pre-hospital care centers; and other end users. Hospitals, ASCs, and cardiac centers were the largest end users of resuscitation devices in 2019. The launch of training programs to efficiently undertake and operate lifesaving defibrillation procedures, increasing number of donations with regard to the purchase/implementation of defibrillators, and growing number of trauma cases and road accidents across the globe are few of the major factors driving the growth of this end-user segment.
North America accounted for the largest share of the Resuscitation Devices Market in 2019
In 2019, North America accounted for the largest share of the market. The rising geriatric population, increasing incidence of cardiac and respiratory diseases, and continuous technological advancements and product innovations are the major factors driving the growth of the resuscitation devices market in North America. Also, increasing efforts by governments to provide the necessary care to cardiac arrest victims at public places through public-access defibrillation programs have increased the demand for emergency care in the region.
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Prominent players in the Resuscitation Devices Market include Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), ZOLL Medical Corporation (US), ResMed, Inc. (US), Physio-Control (acquired by Stryker Corporation, US), Drägerwerk AG & CO. KGaA (Germany), Smiths Medical (US), Ambu (Denmark), Cardinal Health (US), Mindray Medical (China), Nihon Kohden (Japan), Teleflex (US), Salter Labs (US), GE Healthcare (US), Roper Technologies (US), Vyaire Medical (US), Intersurgical (UK), 3M (US), Flexicare (UK), and KARL STORZ (Germany).
+ In 2019, Koninklijke Philips N.V. (Netherlands) launched its HeartStart Intrepid Monitor/Defibrillator with IntelliSpace Connect.
+ In 2019, ZOLL Medical Corporation (US) acquired Cardiac Science (US) to strengthen its product portfolio.
+ In 2017, Medtronic plc (Ireland) invested over USD 2.25 billion on R&D, up from USD 2.19 billion in 2016. Its strong focus on R&D helps it to launch new and advanced airway management devices.