The market for medical equipment used in critical care settings, such as intensive care units (ICUs) and operating rooms, is referred to as the critical care equipment market. When a patient has a serious sickness or injury, this equipment is used to monitor and support them. Anesthesia machines, defibrillators, ventilators, and patient monitoring are a few examples of critical care equipment. A growing number of chronic diseases, an aging population, and technological improvements all contribute to the growth of the critical care equipment market. Manufacturers of critical care equipment and companies offering associated services including maintenance, repair, and training are important participants in the industry. The market is divided into segments according on application, geography, and product.
The rise in traffic accidents globally is one of the major reasons boosting the critical care equipment market. Road traffic accidents are the tenth most frequent cause of death worldwide. Because they have a reduced immunological level, a big population over 60 will help the expansion of the critical care equipment market. The risks of developing cancer, neurological disorders, spinal injuries, and heart problems are higher in the aged.
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Critical Care Equipment Industry Research Segmentation
- By Product :
- Patient Monitors
- Infusion Pumps
- Sleep Apnea Devices
- By Type :
- Hemodynamic Monitoring
- Vital Signs Monitoring
- Neurologic Monitoring
- Brain Function Monitoring
- By End User :
- Ambulatory Surgical Centers
- Homecare Settings
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
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Key Takeaways from Market Study
- The global market for critical care equipment is currently valued at US$ 5.6 billion.
- The market is expected to attain a valuation of US$ 7.5 billion by 2027.
- China’s critical care equipment market is expected to reach US$ 1.3 billion by 2027.
- Global sales of patient monitors are predicted to rise at a CAGR of 6.5% from 2022 to 2027.
These businesses must release several products, extend their product portfolios through both organic and inorganic means, and increase research and development in this field in order to maintain their strategic position in the market.
The intensive care unit equipment market is predicted to expand more quickly due to a strong focus on partnerships and acquisitions to expand their critical care sector.
Developments in the Critical Care Equipment Industry
- For instance, Ford partnered with 3M and GE Healthcare in March 2020 with the goal of accelerating the production of ventilators for patients amid the coronavirus pandemic.
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The growth of healthcare facilities and rising research and development that results in the introduction of new critical care devices are some of the market drivers.
- Smiths Medical and Ivenix, Inc. entered into an exclusive collaboration on May 4, 2021, making Smiths Medical the first company in the U.S. to provide a full range of infusion management systems to meet healthcare needs across the continuum of care.
- CorVent Medical announced the launch of the RESPOND- 19 ventilators across Europe in May 2021 after receiving CE mark approval. This technology enhances the care of critically ill patients and is ideal for intensive care units
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