Critical Care Devices Market, By Product (Infusion Pumps, Ventilators, ECG Devices, Multi-parameter

Published Date: September 2020 | Report Code : HC2068898

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Critical Care Devices Market, By Product (Infusion Pumps, Ventilators, ECG Devices, Multi-parameter Monitoring Devices, CRRT Machines, Hemodialysis Machines, Feeding Tubes, Others), By Application (Renal Care, Cardiology, Neurology, Orthopedic, Others), By End-use (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Others), and By Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America)–Market Size & Forecasting To 2028

COVID-19 Impact : Our team has been closely monitoring the current developments to identify the potential impact of COVID-19 on stakeholders and business processes across the value chain of industries. A special section about COVID-19 will be covered with the report to help companies in defining sustainable strategies.

Domain : Healthcare

Report Code : HC2068898

Status : Published September 2020

The Global Critical Care Devices Market is expected to be around USD XX million by 2028 from USD XX million in 2019, at a CAGR of XX%. Critical care devices include patient monitoring devices, emergency resuscitation devices, respiratory & cardiac support, and other life support systems. These devices are designed to help patients who are seriously ill, have a critical or life-threatening condition, or have undergone major surgical operations, and so, require 24-hour treatment and monitoring.

Ongoing technological innovations in critical care devices and increasing government funding, along with rising private sector investment in the healthcare industry, are going to have a favorable impact on the market. An expanding population base of patients is another key factor in driving the growth of the critical care devices market.

Furthermore, factors such as high replacement rates of critical care devices in mature market, and multi-parameter scanning technology are expected to offer huge growth opportunities for the critical care devices market. Increasing medical tourism in Asia Pacific is also anticipated to drive the market growth in the near future.

As COVID-19 continues to spread around the world, numerous healthcare companies are putting tremendous efforts to fill the demand and supply gap so that clinicians can efficiently handle the rising number of patients. Philips, for example, has recently launched a novel Philips Respironics E30 ventilator to support patients with COVID-19. Equipped with audible and visual warnings, the new ventilator supports high oxygen flow to assist COVID-19 patients with respiratory insufficiency.

In addition, as the COVID-19 pandemic continues to increase, other market players are also raising the ability of ventilator outputs to effectively treat affected patients, which in turn, is expected to boost the demand for critical care devices market. Nevertheless, lack of qualified healthcare professionals may impede the market growth in the coming days.

The critical care devices market is segmented on the basis of product, application, and end use. Based on the product type, the market has been divided into infusion pumps, ventilators, ECG devices, multi-parameter monitoring devices, CRRT machines, hemodialysis machines, feeding tubes, and others. Among these, the CRRT machines segment is expected to witness widespread usage throughout the forecast period due to the increasing prevalence of kidney failure. For instance, as per the Centers for Disease Control and Prevention (CDS) report 2019, the overall prevalence of chronic kidney diseases (CKD) in the general US population is approximately 15% in 2019.

Based on application, the market has been divided into renal care, cardiology, neurology, orthopedic, and others. Among these, the neurology segment is expected to dominate and witness a high CAGR during the forecast period, owing to the growing number of patients related to neurology that require monitoring of their nerve or muscle function.

The rising prevalence of neurological disorders such as chronic low back pain (CLBP), migraine headaches, strokes, multiple sclerosis (MS), and spinal cord injury is expected to propel the market during the forecast period. In addition, technical developments in the field of neurological equipment are anticipated to increase its acceptance rate, thereby boosting industry revenue.

Based on the end use, the market has been divided into hospitals, ambulatory surgical centers, specialty clinics, and others. Among these, the hospital segment is expected to hold a large share of the critical care devices market during the forecast period. The growing number of people in hospitals needing critical care equipment, combined with the emergence of improved healthcare facilities, is fostering market growth.

In addition, the presence of highly skilled healthcare practitioners, coupled with the availability of specialized technological devices such as ventilators and ECG devices in hospitals, is expected to drive the market growth in the near future.

 Regional Outlook:

Based on geography, the worldwide critical care devices market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and South America. North America is predicted to carry a dominant position in this market, followed by Europe. Increasing government support for the development of innovative equipment is anticipated to help the market grow significantly.

Increasing number of geriatric population needing critical care devices, coupled with the rising prevalence of chronic disorders due to changing lifestyles in the region, is poised to raise the market share. In addition, the presence of major key player in North America is expected to boost the market growth in the region.

The Asia Pacific and Middle East & Africa regions are expected to be the fastest growing critical care equipment market. Increasing incidence of chronic and infectious diseases is resulting in more admissions of patients in the CCU (critical care unit) and ICU (intensive care unit). Moreover, continuous technical developments and increasing government spending on healthcare are likely to accelerate the development of the market for critical care equipment in the near future.

Competitive Landscape

The competitive scenario highlights the performance of the major companies operating in the critical care devices market. This includes the detailed profiling of major companies and their competitive benchmarking. Product profiling provides key information regarding products/solutions offered, key developments, company performances, and strategies adopted in recent years.

The major companies profiled in the market include Air Liquide Medical Systems, Airon Corporation,  Avanos Medical, Inc, Asahi Kasei Corporation, B. Braun Melsungen,  Becton, Dickinson and Company Baxter, Biometrix,  Breas Medical, Cardinal Health, Boston Scientific Corporation, GE Healthcare,  Philips, ResMed, Dragerwerk, Medtronic, General Electric Company, ICU Medical, Smiths Medical, Fresenius Medical Care, OSI Systems, Getinge, Hamilton Medical, Skanray Technologies, VYAIRE, Ventec Life Systems, Q-core Medical, and Teleflex Incorporated, among others.

Additionally, the competitive landscapes provides a detailed description of each company including its future capacities, financial overview, key mergers & acquisitions, partnerships, collaborations, new product developments, new product launches, and other latest industrial developments.

What Does This Report Provide?

This report provides a detailed understanding of the global Critical care devices market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Product

  • Infusion Pumps
  • Ventilators
  • ECG Devices
  • Multiparameter Monitoring Devices
  • CRRT Machines
  • Hemodialysis Machines
  • Feeding Tubes
  • Others

By Application

  • Renal Care
  • Cardiology
  • Neurology
  • Orthopedic
  • Others

By End-use

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Product
    • By Application
    • By End Use
  • Europe
    • By Country (Russia, Germany, UK, France, Italy, Spain, The Netherlands, Rest of Europe)
    • By Product
    • By Application
    • By End Use
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Product
    • By Application
    • By End Use
  • Middle East and Africa
    • By Country (UAE, Saudi Arabia, Qatar, Turkey, South Africa, Rest of Middle East and Africa)
    • By Product
    • By Application
    • By End Use
  • South America
    • By Country (Argentina, Brazil, Rest of South America)
    • By Product
    • By Application
    • By End Use

Reasons to Buy This Report:

  • Market size estimation of the critical care devices market on a regional and global basis
  • Unique research usage for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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