Cardiac Arrest Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The cardiac arrest treatment market is expected to register a CAGR of 4.8% over the forecast period.

The outbreak of the pandemic impacted the market. The cancelation of cardiac procedures during COVID-19 adversely impacted the market as it decreased the demand for devices and drugs used in cardiac arrest cases. For instance, according to an NCBI research study published in May 2021, during the COVID-19 pandemic, cardiac procedural activity in England decreased dramatically, with a deficit of about 45,000 procedures, with no increase in the risk of mortality for most cardiac procedures conducted during the pandemic. The same source also stated the negative impact of COVID-19 on cardiology services. Furthermore, according to a PLOS research study published in October 2021, during the pandemic, there was a dramatic drop in referrals and procedures completed for cardiac operations.

Additionally, a European Heart Journal Supplements article published in December 2021 reported that many left atrial appendage occlusion procedures were canceled during the pandemic. However, with the resumption of cardiac procedures amidst declining cases of COVID-19, the market started to gain momentum and is expected to maintain an upward trend over the forecast period.

The increasing prevalence of cardiac diseases and rising geriatric population and the availability of technologically advanced products and reimbursement policies are the major drivers for the market. For instance, according to a research study published in January 2021, the most common cardiac arrhythmia is atrial fibrillation, which is a major risk factor for ischemic stroke and causes an enormous economic burden as well as morbidity and mortality. Furthermore, as per the same source, it is estimated that atrial fibrillation will affect 6 to 12 million people in the United States by 2050, while it will affect 17.9 million people by 2060. This data shows a significant prevalence of atrial fibrillation. Similarly, according to data published by the British Heart Foundation in August 2022, in the United Kingdom, over 7.6 million people lived with heart or circulatory disease in 2021. According to an NCBI research study published in August 2022, cardiovascular diseases were highly prevalent in the rural areas of South Asia, with an incidence of 5.41 per 1,000 person-years as compared to 4.73 per 1,000 person-years in urban areas, and the incidence was higher among males.

The increasing geriatric population across the globe is also anticipated to propel market growth as older people are more prone to cardiac diseases. For instance, according to the World Population Aging Highlight 2021 report published by the United Nations, the global geriatric population is increasing rapidly around the world, and in 2021, more than 727.0 million people aged 65 years or more were living across the world, which was about 9.3% of the total global population. The same report projected that the population of people aged 65 years or more will be about 1.5 billion people by 2050, which will be about 16.0% of the global population.

While several factors point to the growth of the market, the lack of advanced healthcare infrastructure, skilled professionals, and highly expensive treatments may restrain the market growth over the forecast period.

Cardiac Arrest Treatment Market Trends

The Defibrillators Segment is Expected to Witness Considerable Growth Over the Forecast Period

Defibrillators are devices that send an electrical impulse or shock to the heart to restore a normal heartbeat. They are used to prevent or correct arrhythmia, an irregular heartbeat that is too slow or too fast. There are three types of defibrillators: AEDs, ICDs, and WCDs. An AED is a lightweight, portable, battery-powered device that checks the heart's rhythm and sends a shock to the heart to restore a normal rhythm. The device is used to help people in cardiac arrest.

The segment growth is majorly driven by the increasing incidence and prevalence of cardiovascular diseases, sedentary lifestyles, and the aging population. In recent years, heart rhythm problems (arrhythmias) have become prevalent and are expected to experience an increase further. Market players frequently launch novel products to gain a competitive edge in the market. For instance, in March 2022, CellAED, developed by Rapid Response Revival is the first personal defibrillator launched in the UK. CellAED's unique Snap Peel StickTM design means the device is quick and easy to use, even by someone with no medical training. CellAED is up to one-tenth of the price, size, and weight of current technology, and is an affordable at-home defibrillator. Similarly, in August 2021, KestraMedical Technologies, Inc. announced that the company received the United States Food and Drug Administration (FDA) Premarket Approval for the ASSURE Wearable Cardioverter Defibrillator (WCD) system. The ASSURE WCD represents the next generation of monitoring and therapy to protect patients at risk of sudden cardiac death (SCD). ASSURE WCD can analyze a patient's heart rhythm, independently identify a dangerous arrhythmia, decide on autonomous treatment and safely apply defibrillation therapy, a shock to the patient's heart to restore a normal heart rhythm. The system is compatible with the company's cloud-based digital health platform, which enables communication with both patients and doctors. Thus, owing to such product launches, considerable segment growth is expected over the forecast period.

North America is Expected to Witness Significant Growth Over the Forecast Period

North America is expected to witness considerable growth over the forecast period. The growth is due to factors such as the high burden of cardiovascular diseases in the region, along with the increased spending on the research and development of cardiovascular treatments and product launches by the key players. For instance, as per an NCBI research study published in April 2022, more than 16.5% of the United States population, or 54 million people, were over the age of 65 in 2021, and by 2030, the number is expected to rise to 74 million. The number of people over the age of 85, who are at risk of developing heart disease in the country, is expected to increase significantly. Such an increase in the elderly population leading to increasing cases of cardiac arrest is expected to propel the demand for cardiac arrest drugs or devices, thereby contributing to the market growth in the North American region.

Key product launches, product approvals, acquisitions and partnerships among major players, and the increasing burden of cardiac diseases in the United States are a few factors driving the growth of the cardiac arrest treatment market in the country. For instance, according to American Heart Association figures published in January 2021, nearly half of the American population has some form of heart disease, including high blood pressure, heart disease, and so on. Arrhythmia affects all age groups in the country, but the risk of developing atrial fibrillation (AF) increases with age. For instance, as per the estimated Heart Disease and Stroke Statistics 2021, the risk of long-term atrial fibrillation is estimated to be 1 in 3 people in the United States. Furthermore, in September 2021, the United States Lacrosse, the governing body of men’s and women’s lacrosse in the United States, entered a new three-year partnership with Stryker to serve as the Official AED provider of the United States Lacrosse and the United States National Teams. Therefore, owing to such factors, the market in the United States is expected to witness considerable growth.

Cardiac Arrest Treatment Industry Overview

The cardiac arrest treatment market is moderately competitive and consists of several major players. A few key players develop novel products and technologies to compete with the existing products while others acquire and partner with the other companies trending in the market. Some of the companies dominating the market are Koninklijke Philips NV, Abbott Laboratories, Medtronic PLC, Boston Scientific Corporation, and Novartis AG, among others.

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