According to our latest study on “Critical Care Equipment Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product, Application, and End User,” the market was valued at US$ 21,682.65 million in 2019 and is projected to reach US$ 47,171.42 million by 2027; it is expected to grow at a CAGR of 9.5% during 2020–2027. The report highlights the trends prevailing in the global critical care equipment market, and drivers and deterrents pertaining to its growth. The market growth is mainly attributed to growing number of ICU beds in countries with a high prevalence of COVID-19 and increasing demand for ventilators for the effective management of critical COVID-19 patients. However, the disruption of supply chain and logistics due to the rapid spread of COVID-19 can impede the market growth. Further, the technological innovations in critical care equipment offer significant opportunities for the growth of the global critical care equipment market.
Critical care equipment includes cardiac support, patient monitoring, respiratory support, emergency resuscitation devices, pain management, and other life support equipment designed to care for critically ill patients or have undergone a major surgical procedure, thereby requiring 24-hour care monitoring.
A few of the most notable companies occupying a considerable share of the market are General Electric Company, Medtronic, B. Braun Melsungen AG, Baxter International Inc., Koninklijke Philips N.V., Getinge AB, Hamilton Medical, Löwenstein Medical UK Ltd., Dragerwerk AG & Co. KGaA, Nihon Kohden Corporation, Fisher & Paykel Healthcare Limited., Shenzhen Mindray Biomedical Electronics Co., Ltd, BPL ( BPL Medical Technologies), Trivitron Healthcare, SKANRAY TECHNOLOGIES PVT LTD, Asahi Kasei Corporation.