The patients in the ICU ward are different from those in the general ward. Therefore, the layout design, environmental requirements, bed functions, peripheral equipment, etc. of the ward are different from those of the general ward, and the ICUs of different specialties require various equipment. The wards’ design and equipment configuration should meet the needs, facilitate the rescue, and reduce pollution. The devices are laminar flow equipment, central oxygen supply, the monitoring equipment, cardiac output monitor, blood gas analyzer, small rapid biochemical analyzer, fiber laryngoscope, fiber bronchoscope, and small surgical equipment and operating lamp.
The global critical care devices market size anticipated growing with a CAGR of over 42.61%, during the forecast period, 2020-2027. The growth of the market can be attributed to the growing geriatric population and the rising adoption of critical care devices for medical emergencies, such as trauma, cardiovascular surgery, neurosurgery, orthopedic surgery, etc. Additionally, the surge in ICU beds and high demand for ventilators are expected to propel the growth of the critical care devices market in the upcoming periods. Further, the technological advancements, surge in geriatric population, awareness, and acknowledgment of vital organ’s tests by patients is strengthening the market growth. Also, the rising adoption for precise & effective surgical treatments by healthcare providers is anticipated to fuel the demand for critical care devices in the coming years.
Moreover, the development of low-cost ventilators and the expected surge in healthcare budgets in developing countries will spur the robust growth of the global critical care devices industry in the future periods. Furthermore, the rise in the geriatric population and chronic health conditions, the surge in lifestyle influenced diseases such as coronary heart diseases, and the increase in the number of health care facilities across the globe are projected to drive the growth of the market.
The demand for ventilators worldwide is ten times that of current medical institutions. In the face of the global shortage of ventilators, car companies undergoing cross-border transformation and the world’s factories, China’s ventilator manufacturers, have attracted attention. However, the ventilator is different from the mask. As with three types of medical devices, a medical ventilator has higher requirements for manufacturers’ production qualifications and technical barriers.
From the perspective of the demand for the ventilator, the new coronary pneumonia epidemic has a great demand for the medical ventilator. The ventilator is a vital medical device that can prevent and treat respiratory failure, reduce complications, save and prolong the lives of patients.
Chronic diseases are divided into four main types: cardiovascular diseases (such as heart attack and stroke), tumors, chronic respiratory diseases (such as chronic obstructive pulmonary disease and asthma), and diabetes. According to WHO there were some 17.8 million deaths from all types of cardiovascular diseases around the world in 2016, while lung cancer (along with trachea and bronchus cancers) caused 1.7 million deaths.
Globally, Covid-19 is scrambling to buy life-saving medical equipment because the outbreak of the epidemic has placed unprecedented demands on hospitals. According to the World Health Organization (WHO) data, a worldwide competition for medical equipment, one in five people infected with coronavirus, requires hospitalization. Countries severely affected by the epidemic need to purchase lung breathing equipment to help critically ill patients breathe and inject oxygen into the blood to maintain organ function.
Based on the product, the global critical care devices market classified into Infusion Pump, Ventilator, Patient Monitor, and Other. The ventilator will witness significant growth in the forecast period. It is primarily attributed to the growing demand for a ventilator in most of the surgical procedures due to difficulty for the patients to breathe on their own.
Infusion Pump will grow with a lucrative CAGR in the estimated period due to it is capability of delivering fluids in large or small amounts and used to deliver nutrients or medications such as insulin or other hormones, antibiotics, etc.
Based on the type of monitoring, the global critical care devices market segregated into hemodynamic monitoring, vital signs monitoring, neurologic monitoring, and brain function monitoring. The hemodynamic monitoring segment held a lucrative share in 2019 and projected to dominate the global critical care devices market by 2027. This is due to hemodynamic monitoring used to measure blood pressure inside the veins, heart, and arteries and measure blood flow and how much oxygen is in the blood.
The vital signs monitoring will grow with a significant rate in the forecast period. It is owing to the growing demand for vital signs monitoring in detecting or monitoring medical problems.
Based on the patient, the global critical care devices market segmented into an adult, geriatric, and pediatric and neonatal. The pediatric and neonatal segment estimated to lead the market by 2027. It is due to the rise in birth rate across the world, along with the need for a medical emergency in developing countries for newborn baby diseases.
The geriatric segment will grow at a substantial rate during the forecast period due to the geriatric population’s surge, coupled with the rise in cancer and lung diseases in the older population.
Based on the application, the global critical care devices market categorized into surgeries, coronary angioplasty, atrial fibrillation, acute coronary syndrome, pulmonary embolism, deep vein thrombosis, and hemodialysis. The surgeries segment held for a significant market share in 2019 and will witness to gain maximum market revenue by 2027. It is attributable to the increasing demand for critical care devices for cancer and lung diseases in the geriatric population around the world.
Based on the end-user, the global critical care devices market segment into hospitals, ambulatory surgical centers, home care, trauma centers, and others. The hospitals held higher market potential in 2019. It is attributed to the large patient pool treated at hospitals, and the availability of trained professionals to operate these critical care devices.
The surgical centers market exhibits a lucrative market share in 2019 and expected to generate significant revenue during 2020-2027. The growing number of patients prefer specialty clinics for the availability of more critical care units, and a large number of patient care is provided over there.
Based on geography, the global critical care devices market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounted for the largest share in the global critical care devices market in 2018. It is due to the high adoption of specialty infusion pumps, the high number of chronic disease numbers and deaths in the US, and the robust healthcare system in the region.
The Asia Pacific occupied a prominent share of the critical care devices market and projected to remain dominant by 2027. It is due to continually improving healthcare infrastructure, technological advancements, growing disposable incomes, and increasing developments in the healthcare system.
Companies such as Philips Respironics, GE Healthcare, Maquet Holding, Medtronic plc, ResMed, Draegerwerk, Biometrix, Fisher & Paykel, CareFusion Corporation, Skanray Technologies, ICU Medical, Airon Corporation, Fresenius Kabi, Smiths Medical, NP Medical and OSI Systems are the key players in the global critical care devices market.
By Type of Monitoring