(PharmaNewsWire.Com, October 13, 2020 ) Factors such as the rising prevalence of target diseases, increasing demand for emergency care, growing focus on providing public-access defibrillators, high incidence of preterm births, and training and awareness programs on defibrillators are driving the growth of the Resuscitation Devices Market.
On the other hand, issues associated with the use of automated external defibrillators and the harmful effects of certain products on neonates are expected to restrain the growth of this market during the forecast period.
According to the new market research report by MarketsandMarkets, the global resuscitation devices market is projected to reach USD 8.7 billion by 2025 from USD 6.9 billion in 2020, at a CAGR of 4.7%.
The resuscitation devices market is segmented into external defibrillators, airway management devices, convective warming blankets, and other resuscitation devices. In 2019, the airway management devices segment dominated this market owing to factors such as the high incidence of COPD and a large number of asthma and bronchitis cases.
Market is segmented into hospitals, ambulatory surgical centers (ASCs), and cardiac centers; pre-hospital care settings; and other end users. The hospitals, ASCs, and cardiac centers segment accounted for the largest share of the global resuscitation devices market in 2019. The large share of this end-user segment can be attributed to the growing trend of bulk purchasing, increasing number of donations with regard to the purchase/implementation of defibrillators, growing number of trauma cases and road accidents across the globe, and the launch of training programs to efficiently undertake and operate lifesaving defibrillation procedures.
North America accounted for the largest share of the resuscitation devices market in 2019.
In 2019, North America accounted for the largest share of the market. The rising geriatric population, increasing incidence of cardiac and respiratory diseases, and continuous technological advancements and product innovations are the major factors driving the growth of the market in North America.
Prominent players in the resuscitation devices market include Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), ZOLL Medical Corporation (US), ResMed Inc. (US), Physio-Control (acquired by Stryker Corporation) (US), Drägerwerk AG & Co. KGaA (Germany), Smiths Medical (US), Ambu (Denmark), Cardinal Health (US), Mindray Medical (China), Nihon Kohden (Japan), Teleflex (US), Salter Labs (US), GE Healthcare (US), Roper Technologies (US), Vyaire Medical (US), Intersurgical (UK), 3M (US), Flexicare (UK), and KARL STORZ (Germany).
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