The global critical care equipment market is projected to grow with a CAGR between 8 to 9% from 2017 to 2023. Critical care is the specialized care given to those patients in intensive care units or trauma centres, who are facing life-threatening conditions and need constant monitoring as well as comprehensive care. The critical care equipment used in intensive care units are meant for providing care as well as monitoring round the clock. Emergency resuscitation equipment, life support, pain management equipment, patient monitoring equipment, respiratory as well as cardiac support equipment are the major critical care equipment used in Intensive care units. Patient monitoring equipment are used for measuring vital signs, saturation of oxygen in blood, fluid pressure within brain and for monitoring the breathing of patients in critical conditions. Acute care physiologic monitoring system, pulse oximeter, intracranial pressure monitor, and apnea monitor are major patient monitoring equipment. Ventilator, infusion pump, crash cart, intraaortic balloon pump are the major life support as well as emergency recuscitative equipment. Patient monitoring equipment is the major segment with greater demand among the critical care equipment.
Aging population is a major factor driving the growth of the global critical care equipment market. Moreover, increase in coronary heart related illness owing to modern lifestyles is anticipated to further drive demand for critical care equipment for intensive care units in hospitals. The heavy investments in the healthcare sector provide modern medical treatments facilities for patients with critical healthcare conditions and it is expected to boost the growth of the market. Technological advancements in healthcare industry is an important factor which is anticipated to boost the critical care equipment market. Rising income among the population in the emerging nations are expected to provide more healthcare access to the people. Rising government support to the healthcare systems in matured economies are expected to help in sustaining the growth of the critical care equipment market. On the other hand, higher cost of critical care equipment is expected to restraint the growth in global critical care equipment market during the forecast period. However, the presence of cheaper critical care equipment manufacturers in the market augurs well for the future expansion of the market during the forecast period.
The report segments the global critical care equipment market by end user, product type, and region. On the basis of end user, the market is segmented as hospitals, medical centres, and homes. On the basis of product, the market is segmented as, infusion pumps, patient monitors, ventilators and some others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Increasing number of super-speciality and multi-speciality hospitals to aid the increasing occurrences of chronic as well as respiratory diseases is expected to drive the growth of Asia-Pacific market. Increasing old age population, tremendous government support, and innovations in the technology is expected to drive the growth of the market further. Medical tourism in the Asian countries is expected to provide opportunities for the growth of the market. In Europe, the cuts in healthcare sector and shortage of trained staff might affect the growth of the market in some regions. However, due to the presence of larger geriatric population and increasing instances of critical healthcare conditions, the demand from the European market is expected to remain stable. In North America, increased insurance coverage in America is expected to provide more access for more people to healthcare system and it is expected to have positive impact on the market. The emerging nations in Latin America are expected to provide growth opportunities for major players in the global critical care equipment market. In Africa, North African countries provide opportunities for growth for major players in the global critical care equipment market. The availability of cheaper critical care equipment are anticipated to provide greater accessibility to wider population in the region during the forecast period.
The companies covered in the report include BPL Medical Technologies Ltd, B. Braun Melsungen AG, Fresenius Kabi, General Electric Company, Koniklijke Philips N.V., Maquet Holding B.V & Co.KGAA, Meditronic PLC, Nihon Kohden Corporation, Skanray Technologies Pvt Ltd, and Smiths Medical.