Critical care is medical care for people who have life-threatening illnesses and injuries. It generally takes place in an intensive care unit (ICU). The equipment’s which are used for this medical care process is called as critical care equipment. Critical care equipment includes a number of equipment’s that used for intensive and critical care of the patients. The equipment includes pulse oximeter, heart monitor, bedside monitors, ventilators, infusion pump, and many others. These equipment’s are important for providing improved treatment and care to patients.
The global critical care equipment market has been seeing tremendous growth from the past few years. The primary growth factors behind the growth of the market are rapid growth in medical equipment market across the globe, increasing private sector expansions and investments, surged development of multi-parameter monitors, and growing population along with the rising prevalence of chronic disease. Likewise, factors such as increasing old age population, rising research and development in the field of medical or critical care devices, and growing number of health care facilities across the globe are expected to improve growth of the market across during the forecast period.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the critical care equipment market. In addition, complete analysis of changes on critical care equipment market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The COVID-19 pandemic increased the demand for critical care equipment owing to the rising number of COVID-19 cases and thus surged demand for ICU beds.
The study analyses global critical care equipment market based on product, application, end user, and geography.
Critical Care Equipment Market by Product
Various products such as patient monitor systems, ventilators, infusion pumps, and others has been covered in the global critical care equipment market report. The ventilators segment is further bifurcated into invasive ventilators and non-invasive ventilators. Patient monitor system segment is projected to witness rapid growth in the projection period. Constant measurement of patient parameters such as respiratory rate, heart rate and rhythm, blood-oxygen saturation, blood pressure, and many others have become a primary factor of the care of critically ill patients. Thus increased adoption of patient care system for measuring these patient parameters accurately and efficiently is attributed to the growth of the segment.
The market finds its application in cardiology, pulmonology, neurology, orthopedic, and others. The cardiology segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period. An increased demand for critical care equipment for the systematic management of patient of cardiovascular diseases such as heart diseases, coronary artery disease, heart failure and many others is major factor that propelling the growth of the segment.
Based on end user, the market is segmented into hospitals, ambulatory care centers, home care, and others. The hospitals segment is likely to witness rapid growth at a high growth rate during the estimated timeframe. The rising number of hospitals facilities across the world and the growing adoption rate of advanced technologies and equipment by small, medium as well as large hospitals is improving the growth of the segment.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America held the largest market share of global critical care equipment market and is likely to dominate the market over the estimated time frame. Well-established healthcare industry of the region, massive presence of several leading domestic as well as international critical care equipment manufacturing companies, and rapid growth in the medical devices industry in the economies such as the United States are some of the major factors that accredited to the growth of the market in NA region. Alternatively, Asia Pacific is expected to be the fastest-growing region in critical care equipment market. Increasing population of the countries such as India and China along with the rising prevalence rate of chronic diseases is likely to contribute to the market growth.
The major key players of market includes B. Braun Melsungen Ag, Baxter, Becton, Dickinson And Company, Beurer Gmbh, Bpl Medical Technologies Ltd, Drägerwerk Ag & Co. Kgaa, Ge Healthcare, Getinge Ab, Hamilton Medica, Johnson & Johnson Services, Inc, Koniklijke Philips N.V, Maquet Holding B.V & Co.Kgaa, Meditronic Plc, Morepen, Nihon Kohden Corporation, Nonin Medical Inc, Skanray Technologies Pvt Ltd, Smiths Medical, Tandem Diabetes Care, Inc and Teleflex Incorporated among others.
The study analyses global Critical Care Equipment market based on product, application, end user, and geography. Critical care equipment market by product is segmented into patient monitor systems, ventilators, infusion pumps, and others. The patient monitor systems segment is likely to dominate the market over the forecast period. Increased adoption of patient monitor systems in several healthcare settings to monitor various patient parameters is attributed to the market growth. The market finds application in cardiology, pulmonology, neurology, orthopedic, and others. The cardiology segment is likely to register fastest growth in years to come owing to the growing adoption of critical care equipment for the monitoring of patient with cardiovascular diseases. By end user, the market is segmented into hospitals, ambulatory care centers, home care, and others. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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