Global Critical Care Equipment Market
Medical Equipment

Global Critical Care Equipment Market Opportunities And Strategies 2023

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s critical care equipment market report forecasts the critical care equipment market size to grow to $7.18 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

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Critical Care Equipment Market Size Forecast
The global critical care equipment market 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%.

North America held the largest critical care equipment market share.

Key Critical Care Equipment Market Driver ­– Increase In Number Of Chronic Diseases
For example, the World Health Organisation, a Swiss government body, estimates that chronic diseases would kill 41 million people by 2022, accounting for 74% of all fatalities worldwide. Every year, 17 million people die from chronic diseases before reaching the age of 70. Chronic diseases would affect an estimated 164 million people by 2025. As a result, an increase in chronic diseases is propelling the critical care equipment market forward.

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Key Critical Care Equipment Market Trend – Product Innovation
Major players in the critical care equipment market are focusing on developing innovative solutions to increase their market position. Getinge AB., a Swedish medical technology business, for example, debuted its new device ‘Servo-C mechanical ventilator’ in January 2023. This ventilator supports both paediatric and adult patients with lung-protective therapy techniques. Its design makes respiratory support easier. The primary distinguishing characteristics are CO2 monitoring and the ability to see volume and pressure targets. Additionally, it provides 360-degree alarm sight, high flow therapy, and personalised lung protection with improved monitoring.

Critical Care Equipment Market Segment
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

Critical Care Equipment Market Major Players and Strategies
Major players in the critical care equipment market are 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, Fisher & Paykel Healthcare Limited, Abbott Laboratories, and Edwards Lifesciences Corporation.

Smiths Medical was acquired by ICU Medical Inc., a US-based medical technology and manufacturing company, from Smiths Group Plc. for an undisclosed sum in January 2022. ICU Medical Inc hopes to strengthen its infusion treatment product line and expand its portfolio into other clinical care areas with this acquisition. Smiths Medical is a medical manufacturing firm established in the United States that provides specialised medical technology equipment such as syringe and ambulatory infusion devices, vascular access, and vital care items.

The Critical Care Equipment Global Market Report 2023 covers regional data on critical care equipment market size, critical care equipment market trends and drivers, opportunities, strategies, and critical care equipment market competitor analysis. The countries covered in the critical care equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Medical equipment used to treat persons who have life-threatening injuries or illnesses is also referred to as critical care equipment. It is usually done in an intensive care unit for surgical complications, accident injuries, severe infections, and severe respiratory problems.

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