Resuscitation Device Market: Introduction
· Different types of resuscitation devices and accessories help provide oxygen to a patient
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Key Drivers of Global Resuscitation Device Market
· Initiatives taken by various governments around the world on stringently following the guidelines on resuscitation equipment management at primary care centers is likely to fuel the global market in the next few years
· Rise in prevalence of chronic respiratory diseases such as asthma, bronchitis, chronic obstructive pulmonary disease (COPD), lung cancer, cystic fibrosis, etc., is projected to increase the demand for resuscitation devices, such as airway management devices, in critical conditions.
· According to the World Health Organization (WHO), cardiovascular disease accounts for nearly 17.9 million deaths every year, which is estimated to be 31% of all global deaths. A rise in the number of people suffering from cardiovascular diseases can be attributed to sedentary lifestyle along with smoking, tobacco & alcohol consumption, and unbalanced diet. Hence, a rise in the prevalence of cardiovascular diseases is projected to fuel the global market during the forecast period.
· According to the World Health Organization (WHO), population aged 60 years and above is projected to rise from 900 million in 2015 to 2 billion in 2050. Increase in geriatric population leads to a surge in incidence of age-related problems such as cardiovascular diseases and respiratory diseases. This is anticipated to boost the global resuscitation device market.
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Restraints of Global Resuscitation Device Market
· Skilled and trained personnel are required for the clinical application of resuscitation devices, which is a major restraint of the global market
· Numerous small hospitals, clinics, and other medical centers do not invest in resuscitation devices owing to high cost associated with the equipment
North America to Lead Global Resuscitation Device Market
· In terms of region, the global resuscitation device market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
· North America dominated the global resuscitation device market in 2019, and the trend is projected to continue during the forecast period. Increase in geriatric population, presence of major medical device companies, and increase in research & development leading to product innovations are major factors driving the resuscitation device market in the region.
· Europe followed North America in terms of share of the global resuscitation device market in 2019 due government initiatives for spreading awareness about cardiovascular diseases (CVD). Prevalence of CVD is anticipated to rise due to an increase in the geriatric population.
· The market in Asia Pacific is expected to expand at a rapid pace during the forecast period due to a rise in the prevalence of chronic diseases, cardiovascular diseases, and respiratory diseases
· Middle East & Africa and Latin America are likely to witness an increase in the demand for resuscitation devices owing to advancing healthcare infrastructure in these regions, and a rise in the number of government initiatives in the healthcare sector in these regions during the forecast period
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Key Manufacturers Operating in Global Resuscitation Device Market
Key manufacturers operating in the global market are:
· Koninklijke Philips N.V.
· Medtronic plc
· ZOLL Medical Corporation
· Stryker Corporation
· Drägerwerk AG & Co. KGaA
· Cardinal Health
· Smiths Medical
· Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
· NIHON KOHDEN CORPORATION.
· Teleflex Incorporated
· VYAIRE MEDICAL, INC.
· Flexicare (Group) Limited
· Intersurgical Inc
· KARL STORZ SE & Co. KG
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