NEW YORK, Sept. 29, 2016 /PRNewswire/ -- The global manual resuscitators market is expected to reach USD 642 million by 2024, according to a new report by Grand View Research, Inc. The demand for manual resuscitators/ Bag Valve Mask (BVM) is expected to increase owing to the increasing cases of COPD and the increasing need for neonatal ventilation. Moreover, the increasing number of obese population is expected to increase the chances of cardiac arrest cases, ultimately driving the demand for artificial ventilation.
The rising mortality due to non-communicable diseases, such as coronary heart disease has created a pressing need to increase awareness about the measures to be taken to help a patient. Germany, the UK, and France, have taken initiatives to create awareness amongst people about CPR and heart problems.
In order to address the growing death rate from cardiac arrest, organizations such as the American Heart Association, Red Cross, Resuscitation Council (UK, Australia, and Europe), also assists the countries to increase the survival rates of sudden cardiac arrest. These activities include providing training to perform artificial ventilation, providing resuscitation kits, and encouraging by standers to help patients in emergency cases.
Further key findings from the study suggest:
Self-inflating bags accounted for the largest market share in 2015 as they have greater usability in emergency situations, where bystander cardiopulmonary resuscitation is necessary. Companies are striving to launch newer integrated products, which can help in overcoming the delayed ventilation issues. In August 2013, Laerdal introduced the Natalie Collection. This birth stimulating kit provides hands-on training for neonatal resuscitation.
The flow-inflating bag also referred to as anesthesia bag is expected to witness rapid rise in demand owing to the fact that they are majorly used for the neonatal care and intensive units, where 100% oxygen delivery is of utmost importance. With the increasing birth rate and the global organizations such as the UNICEF's efforts to curb the neonatal deaths at the time of birth in low resource nations is further expected to propel the market growth in the coming years.
Hospitals dominated the market in 2015 due to the requirement of artificial ventilation in the delivery and neonatal ward. With the increasing admission of cardiac arrest patients, the need for resuscitators is expected to further increase. Hospitals are expanding their facilities to include state-of-the-art facilities to provide enhanced ventilation facilities. In June 2014, the Royal Oldham Hospital invested USD 6.34 million to improve its emergency care department. The re-modeled department included nine bays for resuscitation including a segregated room for children.
There has been a worldwide increase in the number of the out-of-hospital cardiac arrests all over the world. In the year 2014, there were around 400,000 and 200,000 cases of Out-of-Hospital Cardiac Arrest (OHCA) in the U.S. and Europe, respectively. To encourage by standers to take action during the emergencies, the government and medical institutions are taking various initiatives. The National Academies of Sciences, Engineering, and Medicine (U.S.) is conducting a public workshop in July 2016 for improving the strategies for surviving cardiac arrest.
North America dominated the market in 2015 and is expected to grow at a CAGR of 5.7% over the forecast period. Introduction of state-of-the-art resuscitation products and training kits to reduce the chances of delayed ventilation are the major drivers of the market. For instance, in December 2015, the Canadian Institutes of Health Research (CIHR) and the Heart and Stroke Foundation (HSF) announced USD 3 million funding for the Canadian Resuscitation Outcomes Consortium (CanROC). The multi-province research initiative was launched with a view to improving the survival rates for cardiac arrest outside the hospital.
Asia Pacific is expected to witness a substantial growth during the forecast period owing to the rising incidence rate of heart diseases and the huge untapped market. Neonatal intensive care in low and middle-income countries, such as India, is not advanced in this field. Every year, around 4 million babies die in the first four weeks of life, out of which 75% deaths are in the first week.
New advancements, such as augmented infant resuscitator, have been introduced in India. This innovation is an add-on to the existing device, which provides a feedback about the ventilation technique to healthcare providers.
Industry players are trying to grab market share through mergers and acquisitions. Some of these are also launching highly advanced products so as to provide bystanders some awareness about resuscitation. For instance, in May 2016, Orthodontic Lab collaborated with ResMed to tackle sleep apnea disorder in patients. Both the entities expect to leverage on the core competencies of research and 3D technology to bring in new treatments.
Some key market participants include Weinmann Emergency, Laerdal Medical, HUM Systems for Life, Me.Ber. srl, Ambu A/S, Medline Industries, Philips Healthcare, Hopkins Medical Product, Drager Medical AG and Co., ResMed, Inc., Covidien Plc, GE Healthcare, and CareFusion.
Read the full report: http://www.reportlinker.com/p04144257-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/manual-resuscitators-market-analysis-by-type-by-end-use-and-segment-forecasts-to-2024-300336969.html