Critical Care Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
The critical care devices market is projected to register notable growth owing to rising cases of chronic diseases like cancer and cardiovascular disorders. Increasing number of admissions in emergency units or intensive care units (ICU) could boost the demand for these devices.
People suffering from critical diseases like cancer require hospitalization and advanced diagnostic equipment to treat their illness. The World Health Organization (WHO) reports that cancer is one of the leading causes of death globally, recording more than 9.6 million deaths in 2018. In fact, almost 70% of cancer deaths occur in mid-and low-income nations, while one-third of cancer deaths are usually due to behavioral and dietary risks.
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The rapid spread of COVID-19 has skyrocketed the demand for healthcare devices like ventilators across several countries. Growing prevalence of chronic diseases could stimulate the need for high-quality critical care devices. According to a study conducted by GMI, the critical care devices market might surpass USD 51 billion by the year 2026.
Asthma affects an estimated 300 million individuals worldwide and the number is rising which will further bolster ventilator demand over the coming years. In 2019, ventilators segment accounted for over 6% of the global critical devices industry share and is estimated to gain major traction through 2026. The substantial growth can be attributed to prevalence of coronavirus which directly impacts the respiratory system in human and will be the primarily contributor towards growing deployment for ventilators, worldwide.
Demand from the cardiology segment is estimated to grow notably in the next few years on account of the rising prevalence of cardiovascular disease associated demand for cardiac monitoring devices. Rapid development in technology along with benefits offered by the device for cardiac care is boosting product demand and will positively impact industry growth will further propel the industry growth.
In 2019, critical care devices industry across ambulatory surgical centers segment held 29% of the overall market share and will gain substantial growth through 2026. The growth can be attributed to the increased patient preference for these centers due to the availability of technologically advanced products, better patient management and lesser cost. Also, risk of HAIs is much lower in ambulatory settings as compared to hospitals, which may boost patient growth.
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Europe critical care devices market size had reached USD 9 billion in 2019 and is expected to grow over 2020-2026. Presence of a large number of drug machinery manufacturers in the region along with availability of advanced healthcare facilities with well-equipped machines is boosting regional growth. Moreover, rising prevalence of chronic diseases, general treatment affordability as well as favorable medical reimbursement scenario across Europe may further boost product penetration.
Some of the prominent manufacturers of critical care devices worldwide are GE Healthcare, Cardinal Health, Medtronic, Koninklijke Philips, Air Liquide Medical Systems, Asahi Kasei Corporation, Becton Dickinson & Company, Fresenius Medical Care, Baxter, B. Braun, Boston Scientific, Dragerwerk, ResMed and Getinge, among others.
Partial Chapter of the Table of Content
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)
4.3.1. 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)
4.6. CRRT machines
4.6.1. Market size by region, 2015 - 2026 (USD Million)
4.7. Hemodialysis machines
4.7.1. Market size by region, 2015 - 2026 (USD Million)
4.8. Feeding tubes
4.8.1. Market size by region, 2015 - 2026 (USD Million)
4.9.1. 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)
5.3.1. Market size by region, 2015 - 2026 (USD Million)
5.4.1. Market size by region, 2015 - 2026 (USD Million)
5.5.1. Market size by region, 2015 - 2026 (USD Million)
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