Pune,India, July 28, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global critical care device market size is expected to amass substantial gains by the forecast duration. Improving healthcare infrastructure, availability of technologically advanced facilities, and rising demand for critical care devices in ICU are fueling the overall market size.
The research outlines the primary driving forces, constraints, and opportunities to give a brief understanding of the market’s performance behavior during the study period. The report also offers a detailed competitive analysis of this business space. It includes the product portfolios, financials, distribution networks, and multiple strategies of the top market players as well.
Intensive care often referred to as critical care, is frequently provided to patients who have been admitted in a hospital's ICU. When the essential system organs are in danger of failing, especially in patients with acute life-threatening conditions, the critical care services successfully address their needs.
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The goal of critical care devices is to sustain the functioning of organ systems and significantly improve the patient's state so that the underlying sickness or injury can be effectively treated. This is done by utilizing sophisticated monitoring devices, and therapeutic, and diagnostic equipment.
Impact of COVID-19 pandemic
Resources for critical care are under a tremendous level of pressure as the current COVID-19 pandemic spreads around the globe. The need for critical care equipment is anticipated to soar as a result of the exponentially growing number of Coronavirus patients who require critical care, which in turn will fuel the overall market expansion.
Elaborating on the market segmentations
Based on product type, global critical care device market share from the hemodialysis machines segment is expected to witness a 4.5% CAGR over the projected time period due to the increasing geriatric population suffering from end-stage renal disease (ESRD).
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With respect to application scope, the neurology segment held 14% market share in 2019 and is expected to generate modest gains during study analysis due to technological advancements.
In terms of end-use reach, the specialty clinics segment is poised to record 3.5% CAGR over the forecast timeframe owing to the availability of technologically advanced products in these clinics.
Regional landscape overview
On the geographical front, Latin America market was valued at USD 2 billion in 2019 and is expected to register a considerable growth rate through the study timeline owing to the rising demand for critical care devices in intensive care units across the region. The outbreak of COVID-19, improving healthcare infrastructure, and growing demand for ventilators and hospital beds are also favoring the regional market outlook.
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Global Critical Care Device Market by Product Type (Revenue, USD Million, 2015-2026)
- Infusion Pumps
- Ventilators
- ECG Devices
- Multiparameter Monitoring Devices
- CRRT Machines
- Feeding Tubes
- Hemodialysis Machines
- Feeding Tubes
- Others
Global Critical Care Device Market by Application Scope (Revenue, USD Million, 2015-2026)
- Neurology
- Cardiology
- Renal Care
- Others
Global Critical Care Device Market by End-user Model (Revenue, USD Million, 2015-2026)
- Ambulatory Surgical Centers
- Specialty Clinics
- Hospitals
- Others
Global Critical Care Device Market by Regional Analysis (Revenue, USD Million, 2015-2026)
North America
- Canada
- U.S.
Asia Pacific
- Japan
- Australia
- China
- India
Latin America
- Mexico
- Brazil
- Europe
- Spain
- Germany
- France
- Italy
- U.K.
Middle East & Africa
- Saudi Arabia
- South Africa
Global Critical Care Device Market by Competitive Landscape (Revenue, USD Million, 2015-2026)
- B. Braun Melsungen AG
- Baxter International Inc.
- Cardinal Health Inc.
- Breas Medical AB
- Air Liquide Medical Systems India
- Asahi Kasei Corporation
- Teleflex Incorporated
- Ventec Life Systems
- Q-core Medical Ltd.
- Vyaire Medical
- Hamilton Medical
- Getinge AB
- Boston Scientific Corporation
- Skanray Technologies Pvt. Ltd.
- Avanos Medical Inc.
- OSI Systems Inc.
- Airon Corporation
- Biometrix Ltd.
- Smith’s Medical Inc.
- Fresenius Medical Care AG & Co. KGaA
- ICU Medical Inc.
- Drägerwerk AG & Co. KGaA
- Koninklijke Philips N.V.
- ResMed Inc.
- Becton, Dickinson, and Co.
- Bunnell Incorporated
- Medtronic plc
- General Electric Co.
Table of Content:
Chapter 1. Methodology
1.1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Paid sources
1.4.1.2. Unpaid sources
1.4.2. Primary
Chapter 2. Executive Summary
2.1. Critical care devices industry 360 degree synopsis, 2015 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application field trends
2.1.4. End-use trends
2.1.5. Regional trends
Chapter 3. Critical Care Devices Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Rising demand for intensive care units due to the outbreak of COVID-19
3.3.1.2. Increasing incidence of chronic diseases throughout the globe
3.3.1.3. Technological advancements in critical care
3.3.1.4. Surging demand for ventilators for better management of COVID-19
3.3.2. Industry pitfalls & challenges
3.3.2.1. Lack of skilled professionals
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By application field
3.4.3. By end-use
3.5. COVID-19 impact analysis
Chapter 4. Critical Care Devices Market, By Product
4.1. Key segment trends
4.2. Infusion pumps
4.2.1. Market size by region, 2015 - 2026 (USD Million)
4.3. Ventilators
4.3.1. Market size by region, 2015 - 2026 (USD Million)
4.4. ECG devices
4.4.1. Market size by region, 2015 - 2026 (USD Million)
4.5. Multiparameter monitoring devices
4.5.1. Market size by region, 2015 - 2026 (USD Million)
Chapter 5. Critical Care Devices Market, By Application Field
5.1. Key segment trends
5.2. Renal Care
5.2.1. Market size by region, 2015 - 2026 (USD Million)
5.3. Cardiology
5.3.1. Market size by region, 2015 - 2026 (USD Million)
5.4. Neurology
5.4.1. Market size by region, 2015 - 2026 (USD Million)
Chapter 6. Critical Care Devices Market, By End-use
6.1. Key segment trends
6.2. Hospitals
6.2.1. Market size by region, 2015 - 2026 (USD Million)
6.3. Ambulatory surgical centers
6.3.1. Market size by region, 2015 - 2026 (USD Million)
6.4. Specialty clinics
6.4.1. Market size by region, 2015 - 2026 (USD Million)
6.5. Others
6.5.1. Market size by region, 2015 - 2026 (USD Million)
Chapter 7. Critical Care Devices Market, By Region
Related Report:
Critical Care Devices Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
The critical care devices market is likely to register significant gains in coming years owing to evolving healthcare infrastructure, technological advance facilities, and increasing demand for critical care devices in ICU. Critical care is also known intensive care, which is usually given to patients admitted to the ICU in a hospital. The critical care services effectively meet the requirements of the patients that are suffering from a serious life-threatening condition, particularly where the vital system organs are at danger of failing. From a regional frame of reference, Latin America critical care devices market was valued at more than $2 billion in 2019 owing to the rising demand of critical care devices in intensive care units. It is further anticipated to record tremendous gains due to the coronavirus outbreak, as the regional healthcare infrastructure is expanding its capacity and strengthening its capabilities to tackle a surge in outbreak.
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