Future Market Insights (FMI) announces the release of its latest report titled, “Automated CPR Devices Market: Load Distribution Band CPR to surpass the Conventional Piston CPR Devices: Global Industry Analysis and Opportunity Assessment 2015 – 2025”. According to the report, the global automated CPR devices market was valued at US$ 50.7 Mn in 2014 and is anticipated to reach US$ 159 Mn by 2025, registering a compound annual growth rate (CAGR) of 11% throughout the forecast period.
Market Drivers and Restraints
Global automated CPR devices market is majorly driven by growing demand from EMS and increasing need for technologically advanced Emergency Medical Services. Rising public awareness about cardiac arrest and increasing training programmes is also positively influencing growth of the automated CPR devices market.
Apart from this, increasing government funding and grants encouraging use of automated CPR devices in order to improve survival rates of cardiac arrest victims and growing geriatric population owing to impact of reducing mortality rates and declining fertility rates has also widened the scope for automated CPR manufacturers. Conversely, high cost of automated CPR device, the substantial weight of the device, high training requirements are some minor restraints in the global automated CPR devices market.
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Additionally conflicting results from observational studies regarding the use of automated CPR devices is also hampering growth of the automated CPR devices market. Some observational studies have confirmed that the application of automated CPR devices can immediately improve hemodynamic effect and perfusion. Some studies show less or no impact from the use of such devices.
Unmet clinical needs are expected to offer favourable growth opportunities in the near future. Increasing demand for innovative products so as to ensure cardiac arrest survival rates through cardiopulmonary resuscitation are providing favourable prospects for growth of the automated CPR devices market. There is strong need for improvement of existing CPR devices with some desired features such as inbuilt pulse rate check function and automated injectable function.
Region-wise, Europe dominated the global automated CPR devices market in 2014 in terms of revenue, accounting for 36.2% revenue share. However, Middle East & Africa is foreseen to witness a relatively high CAGR of 11.8%. The market in Europe is expected to remain dominant throughout the forecast period.
Adoption rates for automated CPR devices vary according to region, which is resulting in disparity in market trends across regions. Factors such as differentiation in EMS and its functioning, and lack of awareness amongst the populace are responsible for the varying adoption rates in different geographies. The U.S. is witnessing major investment in automated CPR devices due to increasing number of market players with new technologies in the region.
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Key players considered in the global automated CPR device market include ZOLL Medical Corporation, Physio-Control Inc., Brunswick Biomedical Technologies, Michigan Instruments, and SunLife Science Inc. The global automated CPR devices market is consolidated with the top two players bagging over 50% of the total market. Most players are engaged in various activities such as new product development, increasing investments in clinical research, expansion of geographical presence and brand building via strong marketing strategies in order to sustain in the competitive market.