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Critical Care Equipment Sales Projections Forecast Positive Growth Through 2032 : Fact.MR

The critical care equipment market refers to the market for medical equipment used in critical care settings such as intensive care units (ICUs) and operating rooms. This equipment is used to monitor and support patients with critical illnesses or injuries. Some examples of critical care equipment include ventilators, patient monitors, anesthesia machines, and defibrillators. The market for critical care equipment is driven by factors such as an aging population, an increase in chronic illnesses, and advancements in technology. Key players in the market include manufacturers of critical care equipment and providers of related services such as maintenance, repair, and training. The market is also segmented by product, by application and by geography.

One of the key factors propelling the growth of the critical care equipment market is the rise in traffic accidents worldwide. Road traffic collisions are ranked as the ninth-most common cause of mortality in the world. A sizable population over 60 years old will support critical care equipment market growth because they have a lower immune level. The elderly are more vulnerable to cancer, neurological illnesses, spine injuries, and cardiac issues.

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Critical Care Equipment Industry Research Segmentation

  • By Product :
    • Patient Monitors
    • Ventilators
    • Infusion Pumps
    • Sleep Apnea Devices
    • Others
  • By Type :
    • Hemodynamic Monitoring
    • Vital Signs Monitoring
    • Neurologic Monitoring
    • Brain Function Monitoring
    • Others
  • By End User :
    • Hospitals
    • Ambulatory Surgical Centers
    • Clinics
    • Homecare Settings
    • Others
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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.

Competitive Landscape

Koninklijke Philips N.V., B. Braun Melsungen AG, GENERAL ELECTRIC COMPANY, and Medtronic are some of the key players in the critical care equipment market.

Major requirements adopted by these firms to retain their strategic position in the market include many product releases, expansion of their product portfolios through organic and inorganic methods, and expanding research and development in this sector.

Additionally, a significant focus on collaborations and acquisitions to boost their critical care segment is anticipated to contribute to the intensive care unit equipment market experiencing faster growth.

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.

Winning Strategy

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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