by The automated CPR devices market is estimated to be valued at US$ 127.6 Million In 2023 and is expected to exhibit a CAGR of 11.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Automated CPR devices are designed to provide automated chest compressions during cardiac resuscitation. These devices are highly beneficial in emergency medical services, hospitals, and ambulances, as they eliminate the need for manual chest compressions, ensure consistent and effective compressions, and increase the chances of survival for cardiac arrest patients. The key products associated with the market include mechanical chest compression devices, load-distributing band CPR devices, and piston-based chest compression devices.
Market Dynamics:
The automated CPR devices market is driven by the increasing incidences of cardiac arrests and the need for effective resuscitation techniques. In addition, technological advancements in automated CPR devices, such as the integration of sensors and algorithms for enhanced performance, are also contributing to market growth. Furthermore, the rising adoption of automated CPR devices in emergency medical services and hospital settings is fueling market expansion. However, the high cost of these devices and the lack of awareness about their benefits in developing regions may hinder market growth to some extent. Nonetheless, ongoing efforts by healthcare organizations and manufacturers to create awareness and improve affordability are expected to create lucrative opportunities in the market.
Segment Analysis:
The segment analysis of the Automated CPR Devices Market reveals the dominance of the Public Access Sub-segment within the Bystander Segment. This is primarily due to the increasing emphasis on bystander CPR training programs worldwide. Bystander CPR has been recognized as a critical factor in improving survival rates for out-of-hospital cardiac arrest patients. Public access automated CPR devices, such as automated external defibrillators (AEDs), are designed to be user-friendly and enable even untrained individuals to provide effective CPR. These devices are commonly deployed in public spaces, including airports, shopping malls, and schools, enhancing the accessibility of immediate CPR interventions. The growing awareness about the importance of bystander CPR and the initiatives taken by various organizations to deploy AEDs in public places have contributed to the dominance of the Public Access Sub-segment.
PEST Analysis:
Political: Governments across the globe have been actively involved in promoting bystander CPR and implementing regulations to increase the accessibility of automated CPR devices. For example, the American Heart Association and European Resuscitation Council have established guidelines for the deployment of AEDs in public places.
Economic: The increasing prevalence of cardiovascular diseases and the rising need for advanced cardiac care have driven the demand for automated CPR devices. The healthcare expenditure allocated towards cardiac care is expected to fuel market growth.
Social: The growing awareness about cardiac health and the importance of immediate CPR interventions have influenced individuals and organizations to invest in automated CPR devices. Non-profit organizations and public health agencies have been actively involved in training programs to educate the general public about CPR techniques.
Technological: Advancements in technology have led to the development of user-friendly and portable automated CPR devices. Innovations such as integrated feedback systems, voice prompts, and real-time data monitoring have improved the effectiveness and ease of use of these devices.
Key Takeaways:
The global automated CPR devices market is expected to witness high growth, exhibiting a CAGR of 11.5% over the forecast period. The increasing prevalence of cardiovascular diseases and the growing emphasis on immediate CPR interventions are the primary drivers for market growth. The market size for 2023 is projected to be US$ 127.6 million.
Regionally, North America is expected to be the fastest-growing and dominating region in the automated CPR devices market. This can be attributed to the well-established healthcare infrastructure, higher adoption rates of advanced technologies, and favorable government initiatives promoting bystander CPR.
Key players operating in the automated CPR devices market include ZOLL Medical Corporation, Stryker, Brunswick MedTech, Michigan Instruments, SunLife Sciences Pvt Ltd., CPR Medical Devices, Inc., Medtronic, Faith Group, Nihon Kohden Corporation, and SCHILLER Americas Inc. These companies are actively involved in product innovations, strategic collaborations, and mergers and acquisitions to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
