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How has the critical care equipment market grown in recent years?

In the last few years, the market size for critical care equipment has exhibited significant growth. From an estimated worth of $5.73 billion in 2024, it is projected to increase to $6.16 billion in 2025 at a Compound Annual Growth Rate (CAGR) of 7.5%. Factors including healthcare infrastructure, regulatory norms, patterns of disease, economic circumstances, and patients’ preferences have contributed to this growth during the historic period.

How is the critical care equipment market size expected to evolve during the forecast period?

Regarding the critical care equipment market, a significant expansion is anticipated in the coming few years with an estimated value set to reach $8.71 billion by 2029, displaying a compound annual growth rate (CAGR) of 9.1%. This predicted growth during the projected period can be credited to factors such as technological innovation and research and development, global health risks, value-oriented healthcare, the emergence of booming markets, and the impact of climate and environment. Furthermore, primary trends projected in this span include technological progress, remote monitoring of patients, bespoke medicine and customization, preparedness for global health events, and data protection and privacy.

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Which key drivers are propelling the critical care equipment market’s growth?

The chronic disease prevalence surge is predicted to fuel the growth of the critical care equipment market in the future. Chronic diseases are generally defined as conditions which persist for a year or longer, requiring continuous medical intervention and constraining daily pursuits. Critical care equipment, typically used in intensive care units, serves to monitor and treat patients with chronic diseases experiencing surgical complications, acute infections, or severe breathing issues. Such equipment offers vital organ support to patients. For instance, the World Health Organization, which is a government agency based in Switzerland, reports that chronic diseases resulted in 41 million deaths in 2022, accounting for 74 percent of global deaths. Chronic diseases claim 17 million lives annually before they reach the age of 70. It is projected that by 2025, chronic diseases will impact approximately 164 million individuals. Hence, the rising trend in chronic diseases is catalysing the expansion of the critical care equipment market.

What are the market segments in the critical care equipment industry?

The critical care equipment market covered in this report is segmented –

1) By Product Type: Patient Monitors, Ventilators, Infusion Pumps, Sleep Apnea 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

Subsegments:

1) By Patient Monitors: Vital Signs Monitors, Cardiac Monitors, Multi-Parameter Monitors, Remote Patient Monitoring Systems

2) By Ventilators: Invasive Ventilators, Non-Invasive Ventilators, Portable Ventilators, High-Frequency Ventilators

3) By Infusion Pumps: Syringe Pumps, Volumetric Pumps, Patient-Controlled Analgesia (PCA) Pumps, Smart Infusion Pumps

4) By Sleep Apnea Devices: Continuous Positive Airway Pressure (CPAP) Devices, Bi-Level Positive Airway Pressure (BiPAP) Devices, Auto-Adjusting CPAP Machines, Oral Appliances

5) By Other Products: Defibrillators, Oxygen Concentrators, Suction Devices, Temperature Management Systems

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Which leading companies are shaping the growth of the critical care equipment market?

Major companies operating in the critical care equipment market include AKAS Medical, B. Braun Melsungen AG, BPL Medical Technologies Pvt. Ltd., Drägerwerk AG & Co. KGaA, General Electric Company, Koninklijke Philips N.V., MAQUET Holding B.V. & Co. KG, Medtronic plc, Nihon Kohden Corporation, Skanray Technologies Ltd., Smiths Medical Inc., Getinge AB, Fresenius Kabi AG, Baxter International Inc., Hamilton Medical AG, Fisher & Paykel Healthcare Limited, Abbott Laboratories, Edwards Lifesciences Corporation, ResMed Inc., Teleflex Incorporated, Becton Dickinson and Company, ICU Medical Inc., Masimo Corporation, Mindray Medical International Limited, ZOLL Medical Corporation, Hill-Rom Holdings Inc., Stryker Corporation, Terumo Corporation, Boston Scientific Corporation, Cardinal Health Inc., Johnson & Johnson Services Inc., Siemens Healthineers AG

What key trends are currently impacting the critical care equipment market’s development?

Trend 1.

The main key to increasing prominence in the critical care equipment market is product innovation. Major firms in this sector are diligently working on the creation of novel solutions to cement their standing in the market. For example, in January 2023, Getinge AB, a medical technology firm based in Sweden, introduced its latest product, the ‘Servo-C mechanical ventilator’. This ventilator is equipped with lung-protective treatments that cater to both children and adults. Its unique design simplifies respiratory support, with distinct characteristics including CO2 monitoring and aids for visualizing volume and pressure targets. Additionally, it provides comprehensive alarm visibility, high flow therapy, along with enhanced monitoring for personalized lung protection.

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Which geographic areas are influencing the growth of the critical care equipment market?

North America was the largest region in the critical care equipment market in 2024. 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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