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Critical Care Devices Market - By Product (Defibrillators, Multiparameter Monitoring Devices, ECG Devices, Hemodialysis Machines, Infusion Pumps, Ventilators, Feeding Tubes, Anesthesia Monitors, CRRT Machines), Application Field, End-use & Forecast, 2023-2032


Published on: 2024-08-01 | No of Pages : 240 | Industry : Healthcare

Publisher : MIR | Format : PDF&Excel

Critical Care Devices Market - By Product (Defibrillators, Multiparameter Monitoring Devices, ECG Devices, Hemodialysis Machines, Infusion Pumps, Ventilators, Feeding Tubes, Anesthesia Monitors, CRRT Machines), Application Field, End-use & Forecast, 2023-2032

Critical Care Devices Market Size

Critical Care Devices Market size was worth USD 54 billion in 2022 and is estimated to expand at over 5% CAGR from 2023 to 2032. The commendable surge in the burden of chronic diseases, such as chronic kidney disease, neurological disorders, rheumatoid arthritis, multiple sclerosis, and cancer worldwide, is a leading factor propelling the uptake of critical care devices over the next ten years.
 

Critical Care Devices Market

Increasing adoption of a sedentary lifestyle and interrelated activities such as alcohol and tobacco consumption and smoking has triggered the prevalence of obesity and cardiovascular diseases. According to the World Health Organization, cancer is considered the second most prominent cause of death throughout the globe, accounting for around 10 million deaths in 2020. Also, nearly 70% of deaths from cancer widely occur in low-and middle-income countries, and one-third of deaths from cancer are caused due to dietary and behavioral risks. Hence, such a substantial rise in disease occurrence is estimated to enhance the critical care devices market growth.
 

Governments across the globe are also rolling out initiatives focused on the treatment and prevention of chronic ailments such as cancer, pneumonia, and cardiovascular diseases, further creating a favorable growth outlook for the critical care devices industry. For instance, UNICEF and WHO introduced the Integrated Global Action Plan for Pneumonia and Diarrhea (GAPPD), which aims to accelerate pneumonia control and prevent, protect, and treat pneumonia among children. The plan focuses on reducing deaths occurring from pneumonia to less than 3 children per 1000 individuals by 2025. Additionally, the integrated program seeks to increase the availability of critical care devices in developing countries. Thus, rising regulatory reforms for pneumonia control will accelerate business growth in developing economies.
 

Lack of skilled professionals to hamper market expansion

Rapid technological changes in the healthcare industry have escalated the demand for highly skilled professionals, as understanding and effectively implementing innovative technologies is crucial while performing different procedures. Therefore, highly proficient staff are required to serve the purpose. However, there has been a continuous dearth in the availability of adept personnel that might hamper business development. Besides, the scarcity of skilled healthcare personnel is largely responsible for sluggish growth in developing nations, thus, restraining the overall critical care devices industry share.
 

Critical Care Devices Market Analysis

In terms of product, the multiparameter monitoring devices segment is predicted to garner over USD 17 billion in revenue by 2032. Growing awareness about the availability of advanced technology inbuilt multiparameter patient monitors in critical care in developing countries will boost segment growth in the foreseeable future. Also, developing regions are price sensitive, and hence, government and regulatory authorities undertake several initiatives to lower the costs of multiparameter patient monitors that resolve affordability issues.
 

Global Critical Care Devices Market Size, By Application Field

With respect to the application field, critical care devices market share from cardiology segment is estimated to grow at over 5% CAGR between 2023 and 2032. The increasing prevalence of cardiovascular diseases such as atrial fibrillation is a key factor driving the demand for critical care devices in cardiology applications. The growing prevalence of arrhythmia-related disease and consistent technological developments and benefits associated with the device to enhance cardiac care.
 

 

Global Critical Care Devices Market Revenue Share, By End-use,

Regarding the end user, hospital segment size of the critical care devices market is poised to reach USD 37 billion by 2032. Surging hospital admissions owing to the increasing prevalence of COVID-19 has resulted in exponential demand for critical care devices in hospital settings. The rising number of individuals requiring critical care across these establishments, coupled with the ongoing improvements in the healthcare infrastructure, will favor market growth. Additionally, the availability of skilled healthcare professionals and advanced devices such as ventilators and ECG devices used in hospital settings, in line with the rise in government funding and healthcare expenditure, will provide enormous growth potential for critical care devices.
 

 

North America Critical Care Devices Market Size, 2020 -2032 (USD Billion)

North America critical care devices market is set to exhibit over 4.5% CAGR from 2023 to 2032. Increasing government support for the development of innovative products is anticipated to help the market gain significant momentum. The rising geriatric population requiring critical care, in covalence with the increasing prevalence of chronic disorders due to changing lifestyles in this region. Moreover, the presence of a large number of manufacturers in North America introducing innovative and better critical care devices.
 

Critical Care Devices Market Share

Leading players in the critical care devices market include

  • Koninklijke Philips N.V
  • ResMed
  • Drägerwerk AG & Co. KGaA,
  • GE Healthcare
  • Medtronic Plc
  • ICU Medical Inc
  • Fresenius Medical Care
  • Smiths Medical
  • Biometrix
  • Airon Corporation
  • OSI Systems
  • Avanos Medical
  • Skanray Technologies Pvt Ltd
  • Becton Dickinson and Company (BD)
  • Boston Scientific Corporation
  • Getinge AB
  • Hamilton Medical
  • VYAIRE
  • Q-core Medical
  • Ventec Life Systems
  • Bunnell Incorporated
  • Teleflex Incorporated
  • Asahi Kasei Corporation
  • Air Liquide Medical Systems India
  • Breas Medical
  • Cardinal Health
  • Baxter 
  • B. Braun Melsungen AG.
     

Players in this business vertical have been introducing novel products to expand their portfolio and gain a competitive edge over others. For instance, in July 2022, MicroPort received CE Mark approval under the new Medical Device Regulation (MDR – 2017/745) for its INVICTA family of defibrillation leads. INVICTA intends to connect to cardiac resynchronization therapy defibrillators (CRT-Ds) and implantable cardioverter defibrillators (ICDs). With the INVICTA approval, the company has renewed its portfolio of ICD and CRT-D devices and provides the industry with its most progressive lineup of ICD therapeutic solutions & technologies.
 

The critical care devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments

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By Product

  • Defibrillators
  • Multiparameter monitoring devices
  • ECG devices
  • Hemodialysis machines
  • Infusion pumps
  • Ventilators
  • Feeding tubes
  • Anesthesia monitors
  • CRRT machines
  • Others

By Application Field

  • Renal care
  • Cardiology
  • Neurology
  • Others

By End-use

  • Hospitals
  • Ambulatory surgical centers
  • Specialty clinics
  • Others

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • Austria
    • Denmark
    • Switzerland
    • The Netherlands
    • Czech Republic
    • Sweden
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Thailand
    • Indonesia
    • Vietnam
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Iran

 

Table of Content

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To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )