Selbyville, Delaware , July 14, 2020 (GLOBE NEWSWIRE) --
According to latest report “Critical Care Devices Market by Product (Infusion Pumps, Ventilators, ECG Devices, Multiparameter Monitoring Devices, CRRT Machines, Hemodialysis Machines, Feeding Tubes), Application Field (Renal Care, Cardiology, Neurology), End-use (Hospitals, Ambulatory Surgical Centers, Specialty Clinics), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of critical care devices will cross $51 billion by 2026. Surging number of hospital admissions in intensive care units (ICU) or emergency units will augment the overall industry growth.
The increasing incidence of chronic diseases including cancer is projected to drive the critical care devices market. According to the World Health Organization, cancer is considered as one of the most prominent causes of death across the globe, accounting for over 9.6 million deaths in 2018. Also, nearly 70% of deaths from cancer occur in low-and middle-income countries and one-third of deaths from cancer occur due to dietary and behavioral risks. Hence, substantial rise in the disease prevalence is estimated to boost the market growth.
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Ventilators segment accounted for more than 6% critical care devices market share in 2019. Rising incidence of coronavirus disease will primarily propel the demand for ventilators across the globe. Moreover, rising number of patients suffering from chronic respiratory diseases will fuel the market size further.
The cardiology segment in the market is predicted to expand at over 2% CAGR through 2026. The increasing prevalence of cardiovascular disease will enhance the demand for cardiac monitoring devices, positively impacting the market value. Development in technology and benefits associated with the device to enhance cardiac care will further propel the industry size.
The ambulatory surgical centers end-use segment held a market share of around 29% in 2019 due to growing patient preference due to the availability of technologically advanced products, less cost, and better patient management in these centers. Furthermore, risk of hospital acquired infections are much lower in ambulatory settings owing to less time and effective management that should fuel the segment growth.
Europe critical care devices market valued at around USD 9 Bn and is expected to witness substantial growth during the forecast period. Presence of large number of manufacturers in the European region will foster the market expansion. Well-equipped facilities, advancements in the healthcare industry and increasing prevalence of chronic diseases will impel the market demand. Additionally, high disposable income resulting in treatment affordability will boost the market revenue.
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Some of the prominent players operating in critical care devices market include Cardinal Health, GE Healthcare, Medtronic, Air Liquide Medical Systems, Koninklijke Philips, Asahi Kasei Corporation, Fresenius Medical Care, Becton Dickinson and Company, Baxter, Boston Scientific, B. Braun, Dragerwerk, Getinge, ResMed among others.
These industry players are focusing on developing novel products for enhanced patient comfort that helps the company to expand its global presence. For instance, In April 2020, B. Braun received Emergency Use Authorization (EUA) from the U.S. FDA for infusion pumps to treat COVID-19 patients. This authorization allows continuous nebulized medications to patients suffering from the COVID outbreak. This development helped the company in widening its product portfolio.
Table of Contents (ToC) of the report:
Chapter 3. Critical Care Devices Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.2. Industry pitfalls & challenges
3.4. Growth potential analysis
3.5. COVID-19 impact analysis
3.5.1. Impact of COVID-19 on 10 major markets
3.5.1.1. Overview
3.5.1.2. U.S.
3.5.1.3. Germany
3.5.1.4. UK
3.5.1.5. France
3.5.1.6. Spain
3.5.1.7. Italy
3.5.1.8. China
3.5.1.9. India
3.5.1.10. Brazil
3.5.1.11. Australia
3.5.2. Impact of COVID-19 on industry segments, by 10 major markets (2020)
3.5.2.1. Infusion Pumps
3.5.2.2. Ventilators
3.5.2.3. ECG Devices
3.5.2.4. Multiparameter Monitoring Devices
3.5.2.5. CRRT Machines
3.5.2.6. Haemodialysis Machines
3.5.2.7. Feeding Tubes
3.5.3. Impact of COVID-19 on industry value chain
3.5.3.1. Research & development
3.5.3.2. Manufacturing
3.5.3.3. Marketing
3.5.3.4. Supply
3.5.4. Impact of COVID-19 on industry competition
3.5.4.1. Strategy
3.5.4.2. Product portfolio
3.5.4.3. Business growth
3.6. Porter's analysis
3.7. Company landscape, 2019
3.7.1. Competitive analysis, 2019
3.8. Ventilator - vendor matrix analysis
3.9. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/critical-care-devices-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.