Automated CPR Devices Market size will expand from 2023 to 2032, stimulated by the increasing cases of cardiovascular disorders and a surge in associated mortality rate. According to WHO statistics, CVDs are the leading cause of fatality worldwide, claiming an estimated 17.9 million lives almost every year.
Other pivotal factors augmenting the market growth scope include the increasing rate of respiratory illness and trauma, increased accessibility to healthcare, the rising prevalence of lifestyle disorders, and an upsurge in the geriatric population. The elderly population is highly vulnerable to respiratory and heart diseases, thus making them a major end-user for automated CPR devices.
However, the high initial cost of the equipment and the dearth of trained professionals in the usage and management of the device are the factors that would hamper the revenue of the automated CPR devices market during the forecast timeline. The intervention of several organizations to incorporate these devices and train the staff to use them would boost the business space in the ensuing years.
The Russia-Ukraine war has resulted in a surge in commodity prices, economic sanctions on multiple countries, and affecting the supply chain, which would impact the market progression negatively in the coming future.
Based on the end-use, the ambulance segment is expected to garner profitable returns across the overall market. This can be ascribed to the rising need to deploy these devices in ambulances due to the rising cases of fatalities due to various critical illnesses, even before reaching the hospital. As per a report by American Heart Foundation, nearly 90% of patients suffering from sudden cardiac arrest succumb to death before reaching the hospital for treatment. This induces the need for deploying automated CPR devices in the setting. Besides, increasing efforts by various organizations to include these devices in ambulances would further propel the automated CPR devices market dynamics.
Based on the country, United Kingdom is projected to emerge as a remunerative hub across the automated CPR devices industry due to the rising diseases burden nationwide. According to the British Heart Foundation, cardiovascular disorder is the most common cause of fatality in the UK, recording approximately 160,000 deaths yearly. In addition to this, the establishment of a modern healthcare system, along with the rising government spending on public healthcare, would potentially fuel regional growth in the coming years.
Major players operating in the automated CPR devices market are Michigan Instruments, Asahi Kasei Corporation, Brunswick Biomedical Technologies, Stryker Corporation,, SCHILLER Americas Inc, and others.