I'll echo what everyone else said here-- it's just another gadget. Think of it as the equivalent of some mall ninja AR attachment, or at least that's how I and many other medics would see it. Here's why:
1-- Any dressing that requires a knife/shears to open is asking for trouble; people exaggerate movements under stress, and if they're using a knife, they could cut the product/patient/themselves by mistake.
2-- It uses a Luer Lock connection, commonly found on our IV supplies. That tells me that the guy who dreamed this up doesn't work ER/prehospital, but has some medical training. Why? It's compatible with existing equipment, which looks good on paper, but not in real life. The connection is a pain to use if you have big hands/only one hand to use/wearing gloves (like mechanic gloves, not medical gloves-- you may not be able to doff your gloves while treating the pt). When I start a line on a pt and have to use only one hand to screw the Luer Lock in, it's a pain in the butt. This product complicates it by putting the lock right at the device. At first that looks good since it makes for a more stable connection to screw against, but if they had an extension just a few inches further, someone else could hold it while you screw it down and it also would allow you to inflate it regardless how close you are to the inside of someone's crotch (think: GSW to inside thigh while drawing from an IWB holster) or upper arm wound right by the armpit.
3-- It's expensive: $35, which you could use to buy something much more useful and easier to practice with (do you see yourself buying two AirWraps just to "waste" one on practice? Nope...)
4-- It's a one-trick pony. When you're carrying this stuff on you, you want something that can do double or triple duty.
Here's what I would get instead, and why:
BP cuff-- you can take vitals, use it as a pressure infuser for an IV bag, tourniquet for starting a line, tourniquet to stop bleeding (not the best option though), or over a sterile dressing as a pressure bandage.
Triangular dressing-- use as a sling & swath to support a broken arm (need two), pt restraint, tourniquet (just use a stick/pen as a windlass to crank it down), or to hold other dressings or ice packs in place.
Those two items are cheaper and would allow you to do more with less. We have the C-A-T at HFD, and it does offer the advantage of Velcro and that loop to get it in place and a lock for holding the windlass down, but I would rather pack triangular dressings instead if space and money were an issue. If you're going to spend money on anything, I would suggest getting Quik Clot. That stuff is amazing; the current material doesn't burn pts, it's safe to put into people (very minimal, if any, risk of an allergic reaction or causing a clot in the vascular system somewhere else), and you can stuff it in wounds that a tourniquet can't be used on (torso).
Thanks for finding this one, Macsak, always good to see what's new out there.