Fact.MR, a supplier of market research and competitive intelligence, predicts that from 2022 to 2027, the demand for critical care equipment will grow globally at a CAGR of 6%.
The word “critical care” refers to the specialized care given to patients with life-threatening conditions. This type of care is provided to patients who need constant observation and in-depth therapy. The rise in cardiovascular diseases is driving the market for critical care equipment to grow more quickly. Devices for pain management, emergency resuscitation, and patient monitoring are among the most crucial pieces of critical care equipment in intensive care units.
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The rise in traffic accidents worldwide is one of the major factors boosting the critical care equipment market. Road traffic accidents are the tenth most frequent cause of death worldwide. Because they have a reduced immunological level, a big population over 60 will help the expansion of the critical care equipment market. The risks of developing cancer, neurological disorders, spine injuries, and cardiac problems are higher in the aged.
North America now holds a stranglehold on the global market for critical care equipment as a result of favourable government rules and strong investment development in the area. Asia Pacific is expected to experience significant growth between 2022 and 2027 as a result of the region’s rapidly expanding healthcare infrastructure and ageing population.
The most advanced and costly devices in intensive care units are ventilators and patient monitors (ICU).
- To assist COVID-19 patients, Philips introduced the innovative Philips Respironics E30 ventilator. This advanced ventilator has visual and audible alarms, and it can support COVID-19 patients with respiratory insufficiency by providing high-flow oxygen.
Key Takeaways from Market Study
- The global market for critical care equipment is currently valued at US$ 5.6 billion.
- The market is expected to attain a valuation of US$ 7.5 billion by 2027.
- China’s critical care equipment market is expected to reach US$ 1.3 billion by 2027.
- Global sales of patient monitors are predicted to rise at a CAGR of 6.5% from 2022 to 2027.
The growth of healthcare facilities and rising research and development that results in the introduction of new critical care devices are some of the market drivers.
- Smiths Medical and Ivenix, Inc. entered into an exclusive collaboration on May 4, 2021, making Smiths Medical the first company in the U.S. to provide a full range of infusion management systems to meet healthcare needs across the continuum of care.
- CorVent Medical announced the launch of the RESPOND- 19 ventilators across Europe in May 2021 after receiving CE mark approval. This technology enhances the care of critically ill patients and is ideal for intensive care units.
Key Companies Profiled
- AKAS Medical
- B. Braun Melsungen AG
- BPL Medical Technologies Pvt., Ltd.
- Dragerwerk AG & Co. KGaA
- Fresenius Kabi AG
- General Electric Company
- Koninklijke Philips NV
- MAQUET Holding B.V. & Co. KG
- Medtronic PLC
- Nihon Kohden Corporation
- Skanray Technologies Pvt. Ltd.
- Smiths Medical
Critical Care Equipment Industry Research Segmentation
- By Product :
- Patient Monitors
- Infusion Pumps
- Sleep Apnea Devices
- By Type :
- Hemodynamic Monitoring
- Vital Signs Monitoring
- Neurologic Monitoring
- Brain Function Monitoring
- By End User :
- Ambulatory Surgical Centers
- Homecare Settings
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global critical care equipment market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of product (patient monitors, ventilators, infusion pumps, sleep apnea devices, others), type (hemodynamic monitoring, vital signs monitoring, neurologic monitoring, brain function monitoring), and end user (hospitals, ambulatory surgical centers, clinics, homecare settings, and others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Table of Content
1. Global Critical Care Equipment Market – Executive Summary
1.1. Global Market Overview
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Fact.MR Analysis and Recommendations
2. Global Critical Care Equipment Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Introduction and Definition
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Critical Care Equipment
3.1.2. COVID-19 Crisis and Impact on Aprotic Solvent Prices
3.1.3. COVID-19 Impact Benchmark with Previous Crisis
188.8.131.52. Change in Critical Care Equipment Demand
184.108.40.206. Before and After COVID-19 Crisis (Projected)
220.127.116.11. Before and After Sub-prime Crisis – 2008 (Actual)
18.104.22.168. Change in Demand post Recovery Period (After Each Crisis
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