Resuscitation Device Market: Introduction
- Resuscitation device is an equipment used to restore breathing by using positive pressure to inflate the lungs of an unconscious person whose respiration has ceased
- Different types of resuscitation devices and accessories help provide oxygen to a patient
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.
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
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
Global Resuscitation Device Market: Research Scope
Global Resuscitation Device Market, by Product
- Airway Management Devices
- Oxygen Delivery Devices
- Endotracheal Tube
- Supraglottic Airways (SGAs)
- Intubation Aids
- Automated External Defibrillators (AED)
- Wearable Cardioverter Defibrillators
- Manual External Defibrillators
- Convective Warming Blankets
Global Resuscitation Device Market, by Patient Type
Global Resuscitation Device Market, by End-user
- Ambulatory Surgical Centers
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.