New York, USA, March 08, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global critical care devices market is envisioned to generate a revenue of $41.5 billion by 2027, growing at a CAGR of 3.2% during the forecast period from 2020-2027. 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.
Key Players of the Market
The major players of the critical care devices market include
- GE Healthcare
- CareFusion Corporation
- Medtronic Plc
- Draegerwerk
- Skanray Technologies
- Philips Respironics
- Maquet Holding
- ResMed
- Fresenius Kabi
- ICU Medical, and many more.
These market players are working on the development of strategies such as new product launches, research, and development, following trending market ideas, building product portfolios, mergers & acquisitions, collaborations, and business expansions.
Get | Download an Exclusive PDF Sample of COVID-19 Impacted Critical Care Devices Market
For instance, in August 2020, Advanced ICU Care, a leading United States-based high-acuity telehealth services provider, which is widely known for conducting operations in ICUs and elevating outcomes nationwide, has announced its collaboration with CentraState Medical Center, a renowned New-Jersey based non-profit organization. With this collaboration, the companies have launched comprehensive tele-ICU care to treat critically ill patients affected by the deadly coronavirus.
In addition, the report also focuses on the other important aspects including the financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Factors Impacting the Market Size Pre- and Post-COVID-19 Pandemic
According to the report, the real-time critical care devices market size has considerably increased compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $33.3 billion in 2020, while its estimation was $33.0 billion in the pre-pandemic scenario. The significant demand for critical care devices exponentially increased due to the need of treating various chronic diseases, such as respiratory and cardiovascular diseases, cancers, and many more during the pandemic period. Moreover, the growing technological advancements in these devices and the rising geriatric population are predicted to upsurge the demand for critical care devices during the forecast period.
Factors Impacting the CAGR Figures Pre and Post the COVID-19 Pandemic
According to the report, the critical care devices market is estimated to grow at a CAGR of 3.2% during the analysis timeframe, while it was anticipated to grow at a CAGR of 3.0% in the pre-pandemic scenario from 2020-2027. There has been substantial growth in the demand for critical care devices during the pandemic period as many healthcare institutions have rapidly increased the usage of these devices for treating the patients severely affected by the deadly coronavirus. Moreover, the increasing government initiatives and rising demand for the intensive care units for treating many chronic patens worldwide, are the factors expected to bolster the growth of the critical care devices market during the estimated period.
Post-Pandemic Insight
The increasing number of chronic diseases cases and transmitted diseases all across the globe is expected to uplift the demand for critical care devices. In addition, the increasing number of road accidents and rising investments in the technological advancements of various critical care devices globally are expected to create huge investment opportunities for the critical care devices market in the analysis timeframe.
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- The Global Critical Care Devices and How its Market has Been Affected by the COVID-19 Pandemic
- Increasing Demand Of Critical Care Devices During Covid-19 Pandemic Will Fuel The Growth Of Global Critical Care Devices Market.
