Market Overview:
Automated CPR devices are mechanical piston devices that perform chest compressions to patients suffering from cardiac arrests. These devices ensure consistent, high-quality chest compressions and adherence to guidelines during cardiopulmonary resuscitation (CPR). Some key products in this market include load-distributing band CPR devices, battery-powered portable CPR devices, backpack CPR assist devices, and point of care CPR devices. These devices allow rescuers to focus on airway management and defibrillation while the device performs high-quality chest compressions.
Market Dynamics:
Growing incidences of cardiac arrests across the world are a key factor driving growth of the automated CPR devices market. According to the American Heart Association (AHA), more than 350,000 out-of-hospital cardiac arrests occur annually in the United States. Additionally, increasing adoption of automated CPR devices at hospitals, clinics, ambulances, and public places is also expected to fuel market growth over the forecast period. The devices ensure consistent and continuous chest compressions which can substantially increase survival rates of patients. This is another factor boosting adoption. Furthermore, ongoing technological advancements in devices including integration of artificial intelligence and defibrillation capabilities in some devices is anticipated to offer lucrative growth opportunities for market players over the next few years.
The global Automated CPR Devices Market Growth is estimated to be valued at US$ 127.6 Mn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Automated CPR devices greatly improve the quality of CPR provided to patients in cardiac arrest, ensuring consistently high compression rates and depths. They remove human fatigue during extended resuscitations. Integration with communication technology enables remote guidance and monitoring of resuscitation attempts.
Weakness: High costs associated with automated CPR devices limit their adoption in low and middle-income countries. Device breakdowns in critical situations can interrupt lifesaving therapy. Reliance on batteries increases the complexity and points of failure.
Opportunity: Growing incidence of cardiovascular diseases and cardiac arrests worldwide is driving the need for improved resuscitation equipment. Untapped markets in developing nations present major growth opportunities. Technological advancements are working to reduce costs and improve portability of automated CPR devices.
Threats: Limited training and awareness regarding automated CPR devices hampers their optimal utilization. Presence of cheaper manual CPR alternatives restricts full-scale adoption. Stringent regulatory approvals and reimbursement issues pose challenges.
Key Takeaways
The global Automated CPR Devices Market is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period, due to increasing incidence of cardiac arrests and focus on improving resuscitation outcomes.
Regional analysis: North America dominates the global automated CPR devices market, owing to the rapid adoption of innovative technologies and well-established healthcare infrastructure in the region. Asia Pacific is anticipated to grow at the fastest rate during the forecast period due to rising healthcare expenditures and growing medical tourism industry in China and India.
Key players analysis: Key players operating in the automated CPR devices market are ZOLL Medical Corporation, Stryker, Brunswick MedTech, Michigan Instruments, SunLife Sciences Pvt Ltd., CPR Medical Devices, Inc., Medtronic, Faith Group, Nihon Kohden Corporation, SCHILLER Americas Inc. ZOLL Medical Corporation holds the largest market share due to its robust product portfolio and global presence.
