Global critical care devices market is predicted to experience a robust growth in the forecast period majorly owing to the rise in technological advancements and increasing demand for critical care devices for treatment of medical emergency. By application, the surgeries segment is predicted to witness a lucrative growth in the global industry by 2027. Further, the North America region is anticipated to subjugate the overall market in the projected timeframe.
As per a Research Dive published report, the global critical care devices market is estimated to grow at a CAGR of 2.9% and surpass $39,610.0 million over the forecast period from 2020 to 2027.
The global market is segmented based on product type, application, end-user, and region. The report offers comprehensive insights on drivers, challenges, restraints, opportunities, and key players of the market. Our analysts have stated that the increase in technological advancements the growing demand for critical devices for medical emergency treatment are the major factors predicted to propel the growth of the global critical care devices market in the forecast period. Moreover, the increasing medical tourism and the continuous improvement in healthcare systems are likely to create lucrative opportunities for the growth of global market by 2027. However, the lack of skilled professionals and the high costs associated with critical care devices are expected to hinder the global market growth in the upcoming years.
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Patient Monitor Segment to Grow at Considerable Rate
Based on product type, the global industry is categorized into patient monitor, ventilator, infusion pump, and others. The ventilator segment is estimated to grow at a considerable rate during the forecast period due to rising need of patient monitoring in hospitals during medical emergency treatments.
Surgeries Segment to be Most Lucrative
By applications, the global industry is classified into coronary angioplasty, surgeries, atrial fibrillation, pulmonary embolism, acute coronary syndrome, hemodialysis, and deep vein thrombosis. The surgeries segment is predicted to witness significant growth in the forecast period due to the growing demand for remote patient monitoring devices in clinics, hospitals, and others.
Hospitals & Clinics Segment to Hold Largest Market Share
By end-user, the global market is categorized into hospitals & clinics, trauma centers, home care, ambulatory surgical centers, and others. The hospitals segment is expected to hold the largest share in the global market by 2027 mainly because critical care devices are extensively used in hospitals & clinics for treatment of emergency medical cases such as gall bladder removal, laparotomy, heart-attack, and others.
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North America Region to Dominate the Market
On the basis of region, the global industry is divided into Asia Pacific, North America, LAMEA, and Europe. The North America market for critical care devices is estimated to hold a dominant position by the end of 2027 owing to the presence of a large number of market players in the region. On the other hand, the Asia Pacific region is projected to grow at a significant rate during the forecast period majorly due to the increasing medical tourism and growing patient population base in the region.
Major Market Players
The key players of the global critical care devices industry include Philips Respironics, ResMed, Draegerwerk, GE Healthcare, CareFusion Corporation Becton Dickson, Medtronic plc, Maquet Holding B.V. & Co., Skanray Technologies, KG Maquet Holding, Fresenius Kabi, and ICU Medical. Further, the report outlines ad presents several aspects of these key players such as recent strategic moves & developments, product portfolio, SWOT analysis, and financial performance.
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