New York, USA, Aug. 30, 2021 (GLOBE NEWSWIRE) -- According to a recent report by Research Dive, the global critical care devices market is forecasted to reach $41.5 billion by the end of 2026, from $32.1 billion in 2019. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Impacting the CAGR Figures Pre and during COVID-19
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the critical care devices market has recorded a CAGR of 3.2% during recent months, while it was expected to be 3.0% in the pre-COVID-19 scenario. The main factor enhancing the growth of the market is the high demand of critical care devices during the coronavirus pandemic. The number of patients with critical respiratory conditions have been increased during the pandemic. Because of this the requirement for intensive care equipment has been increased more than ever. This has enhanced the growth of the global critical care device market during the pandemic.
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Factors Impacting the Market Size in the Pre-COVID and Real-time Scenario
According to the report, the real-time revenue of the critical care devices market has been increased compared to the pre-COVID-19 estimations. The real-time market size has reached a revenue of $33.3 billion, while it was estimated to be $33.0 billion in a pre-COVID analysis. The main reason behind this growth is the increasing demand of critical care devices during the coronavirus pandemic as most of the critical patients required treatment of the intensive care unit.
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Post Pandemic Insight
The global critical care devices market is expected to sustain its growth post the pandemic because of the need of these devices will still be there to support patients with critical diseases. The leading players of the critical care devices market include
- Airon Corporation
- Asahi Kasei Corporation
- GE Healthcare
- Cardinal Health
- Breas Medical
- Boston Scientific Corporation
- Biometrix
- Avanos Medical, Inc
- Air Liquide Medical Systems
- Biometrix among others.
In June 2020, BioMatrix Specialty Pharmacy, a growing leader in the specialty pharmacy space, announced the acquisition of City Drugs Specialty Pharmacy in New York City, a privately-owned pharmacy. This transaction has helped BioMatrix in broadening their reach in key therapeutic categories with new payer contracts adding additional covered lives and pharmacy staff extensively experienced in rare and chronic health conditions. The acquisition expands the organization's national footprint to 12 pharmacy locations nationwide.
These players are emphasizing on the research and development, merger and acquisition, and other strategies to restore the market growth in the upcoming years.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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