Impact of Outbreak of COVID-19 on Life Support Systems Market
Life Support Systems Market: Introduction
- Life support systems comprise medical equipment used to keep a patient alive in situations such as major organ failure including brain, heart, and kidney
- The organs and organ systems that often fail and require life support are:
- Breathing (respiratory system)
- Heart and blood pressure (cardiovascular system)
- Kidney (renal system)
- Intestines (gastrointestinal system)
- In case of failure of vital organ systems such as brain and spinal cord (central nervous system), life support focuses on keeping the other body systems functioning so that the nervous system has time to return to a state where it can again support the other body functions
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Key Drivers of Global Life Support Systems Market
- 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 surge in incidence of age-related problems such as cardiovascular diseases and respiratory diseases. This is anticipated to boost the growth of the global life support systems market.
- Technological advancements in life support systems is expected to increase the adoption these devices in developed countries. This in turn is likely to fuel the growth of the global market in the next few years.
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- Rise in prevalence of infectious diseases such as COVID-19 is projected to increase demand for life support systems such as ventilators in critical conditions. Most people who suffer from COVID-19 experience mild to moderate symptoms and recover without special treatment. However, in severe cases, the infection leads to multiple organ failure, acute & severe respiratory disorders, pneumonia, and even death.
- 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. The rise in number of people suffering from cardiovascular diseases can be attributed to sedentary lifestyle along with smoking, tobacco & alcohol consumption, and unbalanced diet. Hence, rise in prevalence of cardiovascular diseases is projected to fuel the growth of the global market during the forecast period.
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Restraints of Global Life Support Systems Market
- Several small-scale hospitals, clinics, and other medical centers do not invest in life support systems because of high cost associated with the equipment
- Not every patient can bear the high cost of life support systems. However, few patients opt for these systems, but eventually find it difficult to avail this service for long. Significantly high bills associated with the use of life support systems limit their adoption.
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North America to Lead Global Life Support Systems Market
- In terms of region, the global life support systems market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global life support systems market in 2019 and the trend is projected to continue during the forecast period. Increase in geriatric population, presence of major players, and government initiatives for spreading awareness about heart diseases are the major factors driving the life support systems market in the region.
- Europe was the second largest market for life support systems in 2019 due to surge in number of strokes (nearly 650,000 every year). The number is anticipated to rise due to increase in the geriatric population.
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- The market in Asia Pacific is expected to grow at a rapid pace during the forecast period due to rise in prevalence of chronic diseases, cardiovascular diseases, and respiratory diseases
- The Middle East and Latin America are likely to experience rise in demand for life support systems owing to increase in health care infrastructure in the region
- A number of government initiatives in the health care sector in countries in Africa is likely to lead to moderate growth of the market in the region during the forecast period
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