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Tuesday, 16 August 2016
Saudi Arabia Defibrillators Market: Initiatives Taken by Government and Private Players to Drive Market at 8.3% CAGR during 2014-2020
According to a market research report published by Transparency Market Research, the Saudi Arabia defibrillators market is estimated to expand at a CAGR of 8.3% during the period between 2014 and 2020. The report, titled “Saudi Arabia Defibrillators Market - Industry Analysis, Size, Volume, Growth, Trends and Forecast, 2014 - 2020,” projects the Saudi Arabia defibrillators market to be worth US$49.8 mn by 2020. The overall market stood at a valuation of US$28.6 mn in 2013.
The report points out that the assistance with real time audio and video in local language has enhanced the adoption of automated external defibrillators across public places and office premises. Initiatives taken by government as well as private players will drive the growth of the Saudi Arabia defibrillators market. For example, in 2011, as a measure to offer emergency medical assistance to its onboard customers during sudden cardiac arrest, Gulf Air installed Philips AEDs in all of its aircrafts. The Saudi Arabia Ministry of Health has installed AED units in Mecca for resuscitating pilgrims experiencing sudden cardiac arrest at the Hajj. However, the lack of appropriate awareness campaigns and public-private partnership will impede the sales of the device during the forecast horizon. Further, the lack of local manufacturing in Saudi Arabia increases the overall cost of defibrillators, thereby restricting the growth of the regional market. The overall market has a huge opportunity to grow with the development of defibrillators equipped with inbuilt remote patient monitoring and telemedicine features.
On the basis of product type, the report segments the Saudi Arabia defibrillators market into automated external defibrillators (AED) and advanced life support (ALS) defibrillators. In the last couple of years, increased adoption of AEDs owing to their low cost and user friendly interface has significantly contributed towards the growth of the market. Government agencies and hospitals are organizing several campaigns and training programs to promote awareness about AEDs and ALS defibrillators. ALS defibrillators are usually used in hospital settings due to their efficiency to monitor multiple parameters such as heart rhythm, pulse rate, and oxygen concentration.
In terms of end-users, the report categorizes the Saudi Arabia defibrillators market into public access defibrillators, hospitals, emergency medical services, and business workplaces. Hospitals dominate the overall defibrillators market in Saudi Arabia, followed by emergency medical services and public access defibrillators. Emergency medical services include fire fighters, police vans, and paramedical forces.
Describing the competitive landscape, the report profiles some of the key players in the Saudi Arabia defibrillators market such as Defibtech LLC, Biotronik SE & Co. KG, GE Healthcare, Cardiac Science Corporation, HeartSine Technologies Inc., Nihon Kohden Corporation, Mindray Medical International Ltd., Philips Healthcare, Schiller AG, Physio-Control Inc., and Zoll Medical Corporation. The report provides insightful information about the key players including their financial overview, product portfolio, business strategies, and recent developments.