Critical Care Equipment market is segmented by Product Type (Infusion Pumps, Patient Monitors, Ventilators, Others), End User (Hospitals, Homes, Medical Centres) and Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Critical Care Equipment Market size was estimated at $25.5 Million in 2019 and is expected to reach $45.1 Million by 2027, growing at a CAGR of 8.7% during the forecast period of 2020 to 2027.
The global critical care equipment market is executed by devices for monitoring and treating patients with critical or severe illnesses. These devices ensure monitoring the patients through different applications and end-user distribution channels across geographies. The importance of such devices can only be assured with the fact that a small failure in them could cause imminent injury or death of the patient.
Critical Care Equipment Market Growth Factors
The outbreak of COVID-19 pandemic earlier in 2020 has changed the market dynamics to a great extent. Most of the critical care equipment market is now getting a thorough boost to help the healthcare industry imbibe life into millions of patients globally. The market that was valued at 68 1.2 million US dollars in the year 2019 and was expected to contribute to a CAGR of 5.7% by the year 2023 is now forecasted to have a substantial CAGR of 7.3 % through the years 2020-2026. With the rising demand for such devices on the global plethora, competitiveness has been created with market key players General Electric, Koninklijke Philips N.V., Integra Life Sciences Corporation and so on; the market is expected to get a loud boom to cater to the growing number of patients every single day. The market has seen a radical up-swing since the advent of the year 2020. And, it is expected to be the same in the coming few years unless stability is seen in the pandemic. This gives the global critical care equipment market a much required upscale on the charts and trends are quickly evaluated for the positive growth in the coming years.
Critical Care Equipment Market Segmentation
Critical Care Equipment Market Country Analysis
The demand for critical care equipment used for intensive and critical care is anticipated to reach USD 2.61 billion by 2021. Investments in the healthcare sector along with increased government support and growth of the private sector are the main drivers for the demand for critical care equipment. The North American region has the largest market share courtesy of advanced health infrastructure in the region. There is moderate growth (anticipated CAGR of 5.7% by 2023) in the market for this equipment in the Middle East and Africa regions. Among the companies that are contributing to the growth of critical care equipment are Becton Dickinson and Company, Beurer GmbH, Johnson & Johnson Services, Inc, Nihon Kohden Corporation, and Getinge.
Critical Care Equipment Market Share and Competition
Key companies operating in this industry are: Smith’s Medical, Skanray Technologies, Nihon Kohden Corporation, Medtronic plc, MAQUET Holding B.V. & Co. KG., Koninklijke Philips N.V., General Electric Company, Fresenius Kabi, B. Braun Melsungen AG, BPL Medical Technologies Pvt Ltd.
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Analysis (Revenue, USD Million, 2020 - 2027)
• Infusion Pumps
• Patient Monitors
End User Analysis (Revenue, USD Million, 2020 - 2027)
• Medical Centres
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Critical Care Equipment Market Companies
• Smith’s Medical
• Skanray Technologies
• Nihon Kohden Corporation
• Medtronic plc
• MAQUET Holding B.V. & Co. KG.
• Koninklijke Philips N.V.
• General Electric Company
• Fresenius Kabi
• B. Braun Melsungen AG
• BPL Medical Technologies Pvt Ltd
United States Critical Care Equipment Market Industry Research Report
Europe Critical Care Equipment Market Industry Research Report
Asia Pacific Critical Care Equipment Market Industry Research Report
Healthcare Facilities have evolved drastically over time, including Critical care Equipment and products. Hospitals have to keep in store all necessary critical care equipment when the situation calls for it. Ventilators, patient monitors, infusion pumps are some of the types of critical equipment that serve as lifesavers for patients suffering from critical diseases or injuries. These machines are crucial and must be handled with utmost care as any carelessness can lead to a bitter impact on the patient’s life.
Due to the steep rise in diseases and the advancement of technology is helping this market to rise in revenue and numbers. As these equipment are just like food and water to a medical organization, every hospital wants to own the best one. Critical care as the name suggests is used for the intensive treatment of the patient after the doctors have operated on them. Government is also funding this sector to ensure that no patient loses his or her life due to a shortage of ventilators or monitors. In recent years due to a hype in numbers of respiratory, heart and chronic diseases the market has also gone through a noticeable growth. Technology in Infrastructure, however, plays the key factor that supports this market. A pandemic or disease outbreak further boosts the share of this industry as the demand for the equipment increases in such cases. However, due to costly raw materials and more number of competitors in the market restricts the growth. Also due to increasing substitutes and cheaper available products also serve as hurdles in the overall growth.
Zipline, a med-tech company, has partnered with Novant Health to produce first long-distant drone to supply critical care equipment and medical supplies to frontline, on 27 May 2020. Other top companies that are global manufacturers of critical care equipment are Koninklijke Philips N.V. (Netherlands), General Electric Company (U.S.), Medtronic plc (U.S.), Drägerwerk AG & Co. KGaA (Germany), Skanray Technologies Pvt. Ltd. (India), Maquet Holding B.V. & Co. KG. (Germany), BPL Medical Technologies Ltd (India), B. Braun Melsungen AG (Germany), Akas Medical (India), Smiths Medical (U.S.), Nihon Kohden Corporation (Japan), and Fresenius Kabi (Germany). These companies hold competitive shares in the market of care equipment supplying Ventilators, Patient Monitors, Infusion Pumps and Syringe Pumps globally. The need of such equipment has been rising globally and countries in U.s and Europe are investing in the industry of critical care equipment. The regions of Africa and North Africa is a major contributor to the market and have control over 70% of the shares in the industry world-wide. There are many other regions which are developing into this industry which include Asia and Middle East. The industry has attracted many investors after the rise of the Corona Virus throughout the globe.
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