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.
Market Overview:
Automated CPR devices are used to perform high-quality and consistent CPR in cases where cardiac arrest patients need resuscitation. These devices use a load distributing band that fits around the patient’s chest to provide uninterrupted chest compressions at a consistent rate and depth. The devices are powered by a pneumatic or battery-powered system. They help attain maximum blood flow to vital organs by maintaining adequate depth and rate of chest compressions. This significantly improves survival rates in cardiac arrest patients when compared to manual CPR. The devices also allow medical professionals to focus on other critical interventions like defibrillation without interrupting chest compressions. This provides potentially lifesaving treatment in the crucial minutes following cardiac arrest.
Market key trends:
One of the key trends in the automated CPR devices market is growing awareness about sudden cardiac arrest and importance of early CPR. According to the American Heart Association, approximately 350,000 out of hospital cardiac arrests occur each year in the United States. However, cardiac arrest can be survived if CPR is administered at the earliest. This has driven the adoption of automated devices that can provide uninterrupted high-quality chest compressions immediately after recognition of cardiac arrest. Furthermore, increasing per capita healthcare expenditure and growing affordability for advanced life-saving devices in developing regions is also expected to support market growth over the forecast period.
Porter’s Analysis:
Threat of new entrants: Low as the market has the presence of a few established players and requires significant capital investments and clearances from regulatory bodies for new entrants.
Bargaining power of buyers: Moderate as there are few suppliers and switching costs are high. Automatic CPR devices have applications in hospitals leading to buyers having bargaining power.
Bargaining power of suppliers: High as raw material components like sensors, wires etc are sourced from specialized suppliers and switching costs are high for buyers.
Threat of new substitutes: Low as there are limited alternatives to automatic CPR devices for assisted CPR in emergency situations.
Competitive rivalry: High due to the presence of major global players competing on the basis of product features, pricing and quality.
Key Takeaways:
The global Automated CPR Devices Market is expected to witness high growth, exhibiting 11% CAGR over the forecast period, due to increasing incidence of cardiac arrests and guidelines recommending immediate CPR.
Regional analysis: North America dominates the automated CPR devices market owing to rising healthcare expenditure and the presence of major players. Asia Pacific is expected to exhibit the fastest growth over the forecast period supported by increasing healthcare infrastructure and disposable income in emerging countries.
Key players: 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 leads the market with wide range of automated CPR device offerings.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
