Overview and Scope
Critical care equipment also refers to medical equipment that is used to treat people who have life-threatening injuries or illnesses. It is typically performed in an intensive care unit for surgical complications, accident injuries, severe infections, and serious respiratory issues.
Sizing and Forecast
The critical care equipment market size has grown strongly in recent years. It will grow from $5.43 billion in 2023 to $5.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to healthcare infrastructure, regulatory environment, disease patterns, economic factors, patient preferences.
The critical care equipment market size is expected to see strong growth in the next few years. It will grow to $8.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to innovation and r&d, global health threats, value-based healthcare, emerging markets growth, climate and environmental impact. Major trends in the forecast period include technological advancements, remote patient monitoring, personalized medicine and customization, global health events preparedness, data security and privacy, .
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Segmentation & Regional Insights
The critical care equipment market covered in this report 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
North America was the largest region in the critical care equipment market in 2023. The regions covered in the critical care equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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. For instance, according to the World Health Organization, a Switzerland-based government agency, due to chronic diseases, 41 million people died in 2022, which is equivalent to 74 percent of all deaths globally. Each year, 17 million people die from chronic diseases before age 70. By 2025, chronic diseases will affect an estimated 164 million people. Therefore, an increase in chronic diseases is driving the growth of the critical care equipment market.
Key Industry Players
Major companies operating in the critical care equipment market are developing advanced technologies such as wearable patient monitors to meet larger customer bases, more sales, and increase revenue. A wearable patient monitor is a compact and portable medical device designed to be worn by a patient for continuous monitoring of vital signs and other health parameters. For instance, in December 2022, Mindray Medical International Limited, a China-based medical device company, launched mWear. The unique feature of mWear is its capability to facilitate an efficient workflow by providing continuous monitoring of patient conditions and delivering advanced patient-centric care. Powered by an Anti-motion Algorithm, it supports comprehensive and precise measurements of 6 key vital signs, along with specialized health parameters, status indicators, and time analysis. mWear offers two monitoring modes – Wearable Mode and Continuous Mode – allowing caregivers to receive patient status updates based on customized settings. Moreover, it intelligently triggers emergencies and alarm escalations to ensure a timely response to patient deterioration.
The critical care equipment market report table of contents includes:
1. Executive Summary
2. Critical Care Equipment Market Characteristics
3. Critical Care Equipment Market Trends And Strategies
4. Critical Care Equipment Market – Macro Economic Scenario
5. Global Critical Care Equipment Market Size and Growth
..
31. Global Critical Care Equipment Market Competitive Benchmarking
32. Global Critical Care Equipment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Critical Care Equipment Market
34. Critical Care Equipment Market Future Outlook and Potential Analysis
35. Appendix
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