Changing lifestyle habits and excess consumption of alcohol and tobacco by a large population across the globe in addition to a sedentary lifestyle is driving the cardiac arrest treatment market toward growth. Cardiac arrest leads to an abrupt loss of heart functioning, consciousness, and breathing. The arrest leads to a blood flow stoppage to the body. A cardiac arrest may prove fatal if it is not treated on time and if there is a lack of proper treatment. Loss of consciousness, shortness of breath, weakness, sudden collapse, and chest discomfort are some major symptoms of cardiac arrest.
The cardiac arrest treatment market is anticipated to show considerable growth at a CAGR of 4.4% during the forecast period of 2019 to 2027 according to the report published by Transparency Market Research (TMR). The cardiac arrest market is projected to reach US$3900 Mn by 2027. The risk of cardiovascular diseases increases with the prevalence of diabetes, hypertension, and others. Rising incidents of these diseases are helping the cardiac arrest treatment market to expand its horizon across the globe.
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Soaring Demand for CPR Devices amidst COVID-19 Pandemic
The COVID-19 outbreak is recording a massive number of fresh infections every day and a considerable population is at a critical stage. More than 55000 people are in a critical stage. This is a big number. Patients with severe COVID-19 develop a myocardial injury, acute respiratory disease, and ventricular arrhythmias which leads to an increase in the risk of cardiac arrest. To overcome this risk, healthcare professionals are using cardiopulmonary resuscitation (CPR) devices. Therefore, the demand for CPR devices is soaring and is expected to surge throughout the forecast period.
Obesity proving to be the Main Cause of Rising Cases of Cardiovascular Diseases
According to the World Health Organization (WHO), the worldwide obesity rate has tripled since 1975. In 2016, over 1.9 billion adults aged 18 years or above were overweight and out of them, over 650 million people were obese. These factors increase the risk of cardiovascular diseases to a great extent and eventually lead to cardiac arrest. Hence, this factor proves to be a growth generator for the cardiac arrest treatment market.
Frequent Research and Development Activities Paving Way for Humungous Growth of Cardiac Arrest Treatment Market
Manufacturers, as well as researchers, are in constant pursuit to develop devices that improve the efficiency of treatment and also help in early detection of cardiac arrest. For instance, recently, researchers at Tufts University developed a microfluidic chip that contains cardiac cells. The sensors placed in the chip have the potential of detecting tachycardia, that is, an accelerated beat rate followed by a beat rate reduction and arrhythmia which leads to cardiac arrest. Precisely, the chip enables precise control of oxygen and other conditions to analyze cardiac cell behavior. Such inventions can help the cardiac arrest treatment market to climb the ladder of growth smoothly.
Other developments such as the use of pectoral nerve blocks to reduce the pain experienced while placing the implantable cardioverter defibrillator (ICD) in children is poised to gain considerable momentum across the forecast period.
North America to hold the top position for growth generation of the cardiac arrest treatment market
The cardiac arrest treatment market is regionally bifurcated into North America, South America, the Middle East and Africa, Europe, and Asia Pacific. North America is expected to account for a massive share in the cardiac arrest treatment market due to a larger number of critical COVID-19 cases in the U.S. as well as the increasing number of cardiac arrest cases in North America. Europe also has a large number of COVID-19 critical cases. Hence, it is expected to show steady growth across the forecast period.
This review is based on TMR’s report titled “Cardiac Arrest Treatment Market (Treatment - Drugs and Medical Devices; Sales Channel - Hospitals, Independent Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027”.
The global cardiac arrest treatment market has been segmented as below:
By Sales Channel
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