Selbyville, Delaware, United States, November 4 2020 (Wiredrelease) Global Market Insights, Inc –:Critical Care Devices Market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
Rise in number of hospital admissions in emergency units or ICU (intensive care units) will drive global critical care device market outlook. Due to the current outbreak of COVID-19, demand for critical care devices such as pulse oximeters, vital sign monitors, ventilators etc. in intensive care units is escalating. As of July 20, 2020, more than 14 million confirmed cases of coronavirus have been reported and over 600,000 people have died, globally.
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Several healthcare and drug manufacturing companies are working day in and day out to bring an effective treatment for COVID-19. B. Braun, a German healthcare company received EAU (Emergency Use Authorization) in April 2020 from the U.S. FDA for developing infusion pumps for treating corona positive patients.
Rise in incidence of chronic diseases like diabetes and cancer will boost the demand for critical care devices. According to the WHO, cancer is as one of the prominent causes of death in the world and accounted for more than 9.6 million deaths in 2018. Around 70% of deaths from cancer occur in low/middle-income countries due to lack of healthcare infrastructure.
Substantial rise in prevalence of deadly diseases and infections will support industry growth over the coming years. Estimates suggest that global critical care devices market size will exceed USD 51 billion in terms of annual remunerations by 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 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)
Chapter 6. Critical Care Devices Market, By End-use
6.1. Key segment trends
6.2.1. Market size by region, 2015 – 2026 (USD Million)
6.3. Ambulatory surgical centers
6.3.1. Market size by region, 2015 – 2026 (USD Million)
6.4. Specialty clinics
6.4.1. Market size by region, 2015 – 2026 (USD Million)
6.5.1. Market size by region, 2015 – 2026 (USD Million)
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