Critical Care Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3936
Critical Care Devices Market size is projected to experience significant growth from 2019 to 2025.
Critical care is provided to patients with life-threatening illness or injuries. Health care professionals who are specially trained provide close and constant attention to the patient under critical care. Critical care usually takes place in a trauma center or intensive care unit (ICU).
The rising geriatric population and increasing adoption of critical care devices for the treatment of medical emergencies, such as trauma, cardiovascular surgery, neurosurgery, orthopedic surgery etc., will drive the critical care devices market over the forecast period.
With technological advancements, the demand for critical care devices will increase. Innovations in the field of complicated surgeries and the growing adoption for precise & effective surgical treatments by healthcare providers are driving the growth of this market. Such factors will boost the critical care devices market in the forthcoming years.
Moreover, the presence of supportive reimbursement policies offers medical treatment to various patients at an economic price. In order to reduce the economic burden, countries like the U.S. provide reimbursement cover to its citizens for medical treatment. The rising number of government initiatives in relation to reimbursement policies across the globe will have a positive impact on increasing the demand for critical care devices over the forecast period.
Furthermore, technological developments pertaining to advancement in the critical care devices are major factors that will drive market growth. The hospital segment contributed to a large percentage of the critical care devices market due to the high budget of hospitals in comparison to the other such settings. However, high capital costs related to the critical care cevices and adoption of refurbished patient monitors especially in emerging economies could hamper industry growth.
The ventilators segment is expected to grow at a significant growth rate throughout the forecast period due to its requirement in most of the surgical procedure owing to difficulty for the patients to breathe on their own. Therefore, there is a need for ventilation support for respiratory assistance.
The U.S. accounted for the largest share in the global critical care devices market in 2018 owing to the presence of highly developed healthcare infrastructure, high adoption rate of technological advancements, huge budget of healthcare facilities as well as the presence of key market players in the region. Furthermore, the high healthcare expenditure will fuel market growth.
Japan is expected to grow with a significant growth in the critical care devices market during the analysis period due to constantly improving healthcare infrastructure, technological advancements, rising disposable incomes, and increasing developments in the healthcare system. The above-mentioned factors will boost the demand for critical care devices.
Some of the major industry players include Philips Respironics, GE Healthcare, Maquet Holding, Medtronic plc, ResMed, Draegerwerk, Biometrix, Fisher & Paykel, CareFusion Corporation, Skanray Technologies, ICU Medical, Airon Corporation, Fresenius Kabi, Smiths Medical, NP Medical and OSI Systems. Major strategic initiatives taken by market players include capacity expansion, partnerships, mergers, and innovative product launches to expand their business product portfolio.
Critical Care Devices Market by Product, 2014-2025 (USD Million)
- Infusion Pump
- Patient Monitor
Critical Care Devices Market by Type of Monitoring, 2014-2025 (USD Million)
- Hemodynamic Monitoring
- Vital Signs Monitoring
- Neurologic Monitoring
- Brain Function Monitoring
Critical Care Devices Market by Patient, 2014-2025 (USD Million)
- Pediatric and Neonatal
Critical Care Devices Market by Application, 2014-2025 (USD Million)
- Coronary Angioplasty
- Atrial Fibrillation
- Acute Coronary Syndrome
- Pulmonary Embolism
- Deep Vein Thrombosis
Critical Care Devices Market by End-use, 2014-2025 (USD Million)
- Ambulatory surgical centers
- Home Care
- Trauma Centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- ResMed, Philips Respironics
- CareFusion Corporation
- GE Healthcare
- Medtronic plc
- Skanray Technologies
- Maquet Holding
- ICU Medical
- Fresenius Kabi
- Smiths Medical
- NP Medical, Fisher & Paykel
- Airon Corporation
- OSI Systems
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