The market for Cardiopulmonary Resuscitation Supplies and Equipment is expected to reach US$ XX Mn By 2024.
Cardiopulmonary resuscitation is a technique that employs artificial ventilation and chest compression in order to maintain oxygenation and circulation flow in the event of cardiac arrest. Over 90% of cardiac arrest patients die before reaching the hospital; lives can be saved if more and more individuals are trained with CPR capabilities. The major factorial entities supporting the growth in demand for CPR equipment and supplies are the rise in the aging population, the wide prevalence of lifestyle diseases, access to healthcare services, and government intervention.
Due to better health awareness and technological advancements in conventional medication, the average life expectancy has improved, which in turn has consequently led to an increase in the aging population in both developed and developing nations. The wide prevalence of lifestyle disorders like cardiovascular disease and respiratory illness will have a positive impact on the growth of the CPR equipment and supplies market.
Healthcare insurance companies have made it possible for ailing patients to access better healthcare services. Government agencies are investing in providing better emergency services at healthcare centers and also with ambulatory services like air medevac units, EMT rescue units, etc. The limited number of trained healthcare professionals who are proficient in CPR techniques would pose a challenge in this scenario. Patients in outlying areas do not have access to CPR services.
Restraints regarding the CPR equipment and supplies market are ambiguous reimbursement, injury-prone technique, and the increased complexity of the equipment. Ambiguous reimbursement policies result in discrimination in the cost coverage for diseases requiring emergency services, which is the most significant barrier to healthcare expenditure. The cardiopulmonary resuscitation technique has been found to be injury-prone, as, during chest compression, there are incidences of bruising and fractures of the sternum and ribs in geriatric patients, and ventilation leads to pulmonary complications.
There is a high prevalence of lifestyle diseases such as cardiovascular and pulmonary disease in North America and Europe; as awareness of these diseases grows, more patients seek CPR treatment; the drawback is the high level of competition among major players, which necessitates ground-breaking innovation in the design and application of CPR supplies and equipment. Asia-Pacific, the Middle East, and Africa are potential markets due to the high prevalence of lifestyle diseases and low disease awareness. The untapped market in remote areas can be captured.
The complexity of the manufacture and design of the equipment has made it difficult for healthcare professionals to utilize it. Manufacturers like Zoll Medical Corporation and Laerdal Medical Corp. have an extensive knowledge base library, which is helpful in treating related experiences during medical emergencies. CPR manikins and AED units are simulated to train healthcare professionals. The manufacturers involved are AMBU, Philips, etc. The latest trends in the CPR technique are extracorporeal cardiopulmonary resuscitation and invasive perfusion devices, which are employed for better results.
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The major players involved in the global CPR equipment and supplies market are Zoll Medical Corporation, Laerdal Medical Corporation, and MCR Medical Supply, Inc. Bound Tree Medical, Physio-Control, Numask, Inc. Headstar Medical Products Co. Ltd., Rapid Response Solutions, Prestan, QuadMed, Inc., WNL Safety, Philips, NASCO, AMBU, CPR RsQ Assist, Inc.
The market for Cardiopulmonary Resuscitation Supplies and Equipment is expected to reach US$ XX Mn By 2024.
The Cardiopulmonary Resuscitation Supplies and Equipment is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted from 2016-2024.
The base year of this report is 2015.
Laerdal Medical Corporation, and MCR Medical Supply, Inc. Bound Tree Medical, Physio-Control, Numask, Inc. Headstar Medical Products Co. Ltd., Rapid Response Solutions, Prestan are some of the major players in the global market.