Global Critical Care Equipment Market Forecast to 2027 - COVID-19 Impact and Analysis - ResearchAndMarkets.com

The "Critical Care Equipment Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product, Application, and End User and Geography" report has been added to ResearchAndMarkets.com's offering.

According to this report 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 the market growth.

Based on product, the critical care equipment market is segmented into patient monitor systems, ventilators, infusion pumps, and others. In 2019, the patient monitor systems segment accounted for a larger share of the market. The growth of the segment is attributed to rising number of launches of these products.

Growing number of ICU beds in countries with high prevalence of COVID-19 and increasing demand for ventilators for the effective management of critical COVID-19 patients are driving the growth of the critical care equipment market. 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.

General Electric Company, Medtronic, B. Braun Melsungen AG, 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 Limited., Shenzhen Mindray Biomedical Electronics Co., Ltd, BPL (BPL Medical Technologies), Trivitron Healthcare, Skanray Technologies Pvt Ltd, and Asahi Kasei Corporation are among the prominent players in the critical care equipment market.

These companies are focused on partnerships, product launches, collaborations, and other business strategies to sustain their position in the market. For instance, in February 2019, Medtronic plc partnered with Foxconn Industrial Internet, a business group within Foxconn Technology Group (Foxconn), and completed regulatory and quality requirements needed to start manufacturing of Medtronic Puritan Bennett 560 (PB560) ventilators for Medtronic in the US. Medtronic and Foxconn are planning to produce 10,000 PB560 ventilators over the coming years, and the ventilators would be marketed and sold by Medtronic.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the critical care equipment market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global critical care equipment market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

• Growing Number of ICU Beds in Countries with a High Prevalence of COVID-19
• Increasing Demand for Ventilators for the Effective Management of Critical COVID-19 Patients

Restraints

• Disruption of Supply Chain and Logistics due to the Rapid Spread of COVID-19

Opportunities

• Technological Innovations in Critical Care Equipment

Future Trends

• Growing Demand for Portable and Compact Ventilators with Enhanced Functionalities

Companies Mentioned

• General Electric Company
• Medtronic
• B. Braun Melsungen AG
• 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 Limited.
• Shenzhen Mindray Biomedical Electronics Co., Ltd.
• BPL
• Trivitron Healthcare
• Skanray Technologies Pvt Ltd
• Asahi Kasei Corporation

For more information about this report visit https://www.researchandmarkets.com/r/jw5pzk

View source version on businesswire.com: https://www.businesswire.com/news/home/20201105005667/en/