Cardiac Arrest Treatment Market: Soaring Demand for CPR Devices amidst COVID-19 Pandemic
Global Cardiac Arrest Treatment Market – An Overview
World over cardiovascular diseases are seeing an increase in incidence. Additionally, certain underlying issues such as agonal breathing or apnea, which are known to cause cardiac arrest, are seeing an increase in numbers of people affected. Some of the reasons include lifestyle choices – alcohol and tobacco use, lack of exercise and a hectic work schedule.
As per Transparency Market Research, this will lead to growth in the global cardiac arrest treatment market over the forecast period of 2019 to 2020. A number of factors would underlie this growth and lead to generation of lucrative growth opportunities. Besides, they will pull up the market worth by a considerable value.
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To understand what is driving the market forward, it is significant to note the following:
- World over, geriatric population is seeing an increase in numbers. The year 2018 saw history being created with number of people in the geriatric bracket of 65 and above crossed number of children. The age bracket of the latter is below 6. By the year 2050, numbers will grow further in the former. Worldwide, one in every six and in North America and Europe, one in every four people will fall in the age group of 65 and above. This age group is susceptible to cardiac arrest.
- Risk of CVD increases with certain diseases such as diabetes and conditions such as hypertension, hyperlipidaemia, and others. And, it is pertinent to note here that an increase in incidence of these will lead to a high risk for CVD, paving way for growth in the global cardiac arrest treatment market over the forecast period. Note that the number one cause of deaths in the world is CVD.
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Cardiac Arrest Treatment Market - Snapshot
Cardiac arrest is defined as a sudden and abrupt loss of heart function, consciousness, and apnea or agonal breathing. It is a heterogeneous condition in terms of underlying pathology. It results from an electrical disturbance in the heart because of a problem with electrical signals. The disturbance leads to disruption in pumping action and stoppage of blood flow to the body. Cardiac arrest is often fatal. If appropriate steps are not taken immediately, sudden cardiac arrest can lead to death. The most common cause of a cardiac arrest is abnormal heart rhythm such as ventricular tachycardia or ventricular fibrillation. Other causes of cardiac arrest include thickened heart muscles (cardiomyopathy), heart medications, electrical abnormalities, blood vessel abnormalities, recreational drug use, and scarring of the heart tissue.
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Obesity, diabetes mellitus, smoking, high cholesterol, high blood pressure, and sedentary lifestyles are the primary causes of heart failure and cardiac arrest. Rise in the number of people afflicted by these diseases is projected to drive demand for cardiac arrest treatment. According to the American Heart Association’s 2017 Heart Diseases and Stroke Statistics update, the number of people diagnosed with heart failure is increasing and projected to rise by 46% by 2030, resulting in more than 8 million people with heart failure. There are 22 million people living with congestive heart failure across the world and additional 2 million people are diagnosed every year. According to the American Heart Association, congestive heart failure is one of the leading causes of death in the U.S., accounting for 8.5% of the total population. According to the World Journal of Cardiovascular Diseases, more than 7 million deaths occur due to sudden cardiac arrest across the globe each year. Sudden cardiac death accounts for about 20% of all mortalities in the West. According to the U.S. National Library of Medicine of the National Institutes of Health, 40% to 50% of all cardiovascular deaths are sudden cardiac deaths (SCDs) and nearly 80% of these are caused by ventricular tachyarrhythmia. Therefore, about 6 million sudden cardiac deaths occur each year due to ventricular tachyarrhythmia. The overall prevalence of first degree atrioventricular block among the adult population in the U.S. is 3.7%. Prevalence of atrioventricular block is higher in patients with coronary heart diseases. Dual CRT pacemakers are implanted due to symptomatic bradycardia, which is caused by sick sinus syndrome or atrioventricular block or both. Untreated atrioventricular block will not only lead to heart failure, but also sudden cardiac death. However, stringent regulations for medical devices required for the treatment of cardiac arrest are expected to restrain the market during the forecast period.
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The global cardiac arrest treatment market has been segmented based on treatment, sales channel, and region. In terms of treatment, the medical devices segment held major market share in 2018 and the trend is projected to continue during the forecast period. The beta blockers sub-segment is anticipated to dominate the drugs segment from 2019 to 2027. In terms of sales channel, the hospitals segment is likely to lead the global cardiac arrest treatment market during the forecast period.
Geographically, North America dominated the global cardiac arrest treatment market in 2018, accounting for the largest share. The region was the largest market for cardiac arrest treatment due to high adoption rate of CRT for cardiac arrest treatment among cardiologists and heart specialists and presence of large number of AED centers. Moreover, increase in incidence of cardiovascular disorders and advancements in medical devices for the treatment of cardiac arrest drive the cardiac arrest treatment market in North America. The market in Asia Pacific is expected to expand at a high CAGR from 2019 to 2027. Asia Pacific comprises major economies such as China, Japan, India, Australia, South Korea, and New Zealand. The cardiac arrest treatment market in Asia Pacific is growing rapidly compared to Europe and North America, which have shown stagnant growth in the past few years. Factors contributing to strong market growth in Asia Pacific are increase in incidence of sudden cardiac arrest (SCA), large patient base, rise in purchase of AEDs for organizational and corporate defibrillation programs, over the counter availability of AEDs, increase in disposable income, and subsequent spending on health care.
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Key players operating in the global cardiac arrest treatment market include Amgen, Inc., Pfizer, Inc., Johnson & Johnson, Novartis AG, Bristol-Myers Squibb Company, Abbott, Bayer AG, Koninklijke Philips N.V., GE Healthcare, Physio-Control, Inc. (Stryker), Boston Scientific Corporation, Cardiac Science Corporation (Aurora Capital Group), and Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
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