Automated CPR Devices Market to Witness Exponential Growth CAGR of 11% by 2025
Favourable government support is driving the adoption of automated CPR devices, especially in developed economies. For instance, Harris County Emergency Ambulance Authority in the US approved purchase of 10 automated CPR units to be carried on-board ambulances.
Rising awareness on survival strategies during a cardiac arrest have also brought automated CPR devices in the limelight. The recent study by Institute of Medicines (IOM), titled, ‘Strategies to Improve Cardiac Arrest Survival: A Time to Act’ has provided an impetus to the use of CPR devices in emergency situations. Increase in out-of-hospital cardiac arrest incidences is also fuelling the adoption of automated CPR devices.
High Cost Remains a Key Challenge for Widespread Adoption
Although FMI maintains a positive outlook on the global automated cardiopulmonary resuscitation (CPR) devices market, high cost remains a key challenge for adoption. The average cost of a CPR device is nearly US$ 10,000, making it difficult for healthcare institutions to adopt them en masse.
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Europe and North America Most Lucrative Markets
Europe and North America are the largest markets for automated CPR devices. Demand for automated CPR devices in Europe was to the tune of US$ 18.3 million in 2014; FMI expects it to reach US$ 22.5 million by the end of 2016. Europe’s share in the global automated CPR devices market is expected to reach 38% by 2025, gaining 180 BPS between 2014 and 2025.
The automated CPR devices market in Europe is fuelled by strong demand from Germany and U.K. Demand for automated CPR devices in Germany is expected to reach US$ 5 million by 2016 end, whereas U.K.’s market is anticipated to be worth US$ 3.5 million.
The U.S. remains a lucrative market for automated CPR devices, accounting for over 80% market value share in North America. In contrast, demand for automated CPR devices in Canada was worth US$ 2.3 million in 2014; FMI expects it to reach US$ 2.8 million by 2016.
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ZOll Medical Corporation will Surpass Physio-Control, Inc. by 2016 to become the Leading Player
ZOLL Medical Corporation, Physio-Control, Inc., Brunswick Biomedical Technologies, Michigan Instruments, and SunLife Science Inc. are the key players in the global automated CPR devices market. Physio-Control, Inc. and ZOLL Medical Corporation collectively hold nearly two-thirds of the market share currently. North America remains the most lucrative market for all the key players, except SunLife Science Inc., which has a strong presence in Asia Pacific.
Physio-Control is the dominant player in the automated CPR devices market, accounting for nearly 40% market share. The company offers LUCAS, a pneumatically-driven piston CPR device. FMI forecasts Physio-Control to lose market share to ZOLL Medical Corporation on account of gradual decrement in the use of piston-driven devices.
ZOLL Medical Corporation’s flagship offering ‘AutoPulse’ is fast gaining popularity owing to its thoracic compression theory. FMI expects ZOLL Medical Corporation to surpass Physio-Control by 2016, holding a 38.6% market share vis-à-vis 36% share of Physio-Control.
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Michigan Instruments, SunLife Science Inc., and Brunswick Biomedical Technologies will account for less than 10% share of the global market by 2020, owing to consolidation by ZOLL Medical Corporation and Physio-Control.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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