The Critical Care Equipment Global Market Report 2023 by The Business Research Company, provides critical care equipment market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Critical Care Equipment Global Market Report 2023, the global critical care equipment market size is expected to grow from $5.04 billion in 2022 to $5.43 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global critical care equipment market size is expected to grow to $7.18 billion in 2027 at a CAGR of 7.2%.
An increasing number of chronic diseases is expected to propel the growth of the critical care equipment market going forward. Chronic diseases are defined broadly as conditions that last one year or longer and necessitate ongoing medical attention, and limit daily activities. Critical care equipment is used in chronic diseases to monitor patients and treat their illnesses that are operated in the intensive care unit for surgical complications, severe infections, and serious respiratory issues. Critical care equipment gives life support to the different organs in the body.
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The critical care equipment market is segmented:
1) By Product Type: Patient Monitors, Ventilators, Infusion Pumps, Sleep Apina Devices, Other Products
2) By Monitoring Type: Hemodynamic Monitoring, Vital Signs Monitoring, Neurologic Monitoring, Brain Function Monitoring, Monitoring Types
3) By Patient Type: Adult, Geriatric, Pediatric, Neonates
4) By Distribution Channel: Direct Tender, Retail Sales, Third Party Distribution, Other Distribution Channels
5) By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Other End Users
Product innovation is a key trend for gaining popularity in the critical care equipment market. Major companies operating in critical care equipment are focused on developing innovative solutions to strengthen their position in the market. For instance, in January 2023, Getinge AB., a Sweden-based medical technology company launched its new product ‘Servo-C mechanical ventilator’. This ventilator provides lung-protective therapeutic tools to treat both pediatric and adult patients. Its design simplifies respiratory support. The main unique features are CO2 monitoring and helps to visualize volume and pressure targets. It also offers 360-degree alarm visibility, high flow therapy, and personalized lung protection with better monitoring.
The critical care equipment market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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