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Global Critical Care Devices Market By Product (Ventilators, Infusion Pumps, Others), By Application (Cardiology, Pulmonology, Others), By End-Users (Hospitals, Home Care, Others), By Region, Forecast & Opportunities to 2026

The global critical care devices market accounted for a value of USD 11.4 billion in 2019 and is projected to register growth at a CAGR of 3.3% during forecast period.

COVID-19 has impacted the critical care devices market. The COVID-19 is rapidly spreading among various countries which increases demand for various equipments such as ventilators and others in the hospitals. The COVID-19 patients are increasing rapidly and the manufacturing units of such equipments are operating during lockdown to supply the equipment on time to the hospitals. The market for critical care devices has witnessed immense growth in 2020 and is likely to grow significantly during forecast period sue to COVID-19.

Definition:

The specialized care of patients is required whose conditions are critical and who require compressive care and monitoring. Those patients required critical care units. These units used in treatment of various diseases such orthopedic, cardiology, neurology and others.

Market Dynamics (Drivers/Opportunities):

The demand for intensive care units is increasing immensely due to outbreak COVID-19 around the world. The patients of corona virus highly required respiratory instruments and ventilators due to lack of oxygen in the body. The healthcare industries are working day and night to fulfill the for critical care equipments demand. The number of patients is increasing day by day and this drives growth in critical care devices market during forecast period.

The incidence of chronic diseases is immensely increasing around the world. The aging population is rising and the treatment of chronic disease needs critical care devices. The advancement in technology is rising immensely in this market. The adoption of such devices is increasing in clinics, hospitals and home cares. Thus, drives growth in critical care devices market during forecast period.

Market Insights, by Product

On the basis of product, the critical care devices market is segmented into patients monitoring system, ventilators, infusion pumps and others. The patient monitor system segment accounted for largest market share in 2019 and it is estimated to hold largest market share during forecast period. The patient monitoring system is one the vital equipment and it used in almost all the hospitals around the globe. However, the ventilators segment is estimated to register growth at highest CAGR during forecast period. The demand for ventilators is rapidly increasing around the globe due to outbreak of corona virus. The number of respiratory diseases is also rising which leads to high adoption of ventilators by the end-users. This is likely to drive growth in ventilators segment during forecast period.

Market Insights, by Application

 On the basis of product, the critical care devices market is segmented into cardiology, pulmonology, neurology, orthopedic and others. The cardiology segment is estimated to grow at highest CAGR during forecast period. The cardiovascular disease is considered as one of the top causes of deaths in the world. As revealed by Centers for Diseases Control and Prevention, approximately 655,000 people in America die due to heart disease every year. To prevent death due to CVD, various critical care equipments are used such as cardiovascular intensive care unit (CICU) in the hospitals. The severe patients are admitted in the CICU and the number of patients in CICU ward in increasing. The patients in CICU require intensive care systems and trained staff. This increases demand for critical care devices in cardiology application. Thus, drives growth in this segment during forecast period.

Regional Insights

North America region is estimated to dominate the market during forecast period. The geriatric population is increasing in this region and the incidence of chronic diseases is increasing rapidly. This increases demand for critical care equipment in this region. The lifestyle of people is changing and this increases the spending on health. The government in this region is adopting various initiatives to support market for critical care devices. The large number of manufacturers are present in this region leads to innovative and better products launching. This drives growth in North America region during forecast period.

Key Companies & Market Share Insights

The key market players in critical care devices industry are General Electric Company, B. Braun Melsungen AG, Medtronic, Baxter International Inc., Koninklijke Philips N.V., Getinge AB, Hamilton Medical, Lowenstein Medical UK Ltd., Dragerwerk AG & Co. KGaA, Nihon Kohden Corporation, Fisher & Paykel healthcare Ltd., Shenzhen Mindray Biomedical Electronics Co., Trivitron, BPL, Asahi Kasei Corporation and Skanray Technologies Pvt. Ltd.

Segments Covered in the Report

This report forecasts The Global Critical Care Devices Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global critical care devices market report on the basis of product, application and end-users.

Critical Care Devices Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Critical Care Devices Market, By Product, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Patients Monitoring System
  • Ventilators
  • Infusion Pumps
  • Others
  1. Critical Care Devices Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Cardiology
  • Pulmonology
  • Neurology
  • Orthopedic
  • Others
  1. Critical Care Devices Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Hospitals
  • Home Care
  • Ambulatory Care Centers
  • Others
  1. Critical Care Devices Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Product
    • By Application
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Product
      • By Application
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Product
        • By Application
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Product
          • By Application
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Product
            • By Application
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Skanray Technologies Pvt. Ltd.
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • General Electric Company
    • Braun Melsungen AG
    • Medtronic
    • Baxter International Inc.
    • Koninklijke Philips N.V.
    • Getinge AB
    • Hamilton Medical
    • Lowenstein Medical UK Ltd.
    • Dragerwerk AG & Co. KGaA
    • Nihon Kohden Corporation
    • Fisher & Paykel Healthcare Ltd.
    • Shenzhen Mindray Biomedical Electronics Co.
    • Trivitron
    • BPL
    • Asahi Kasei Corporation
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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