Rockville , July 20, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global critical care equipment market is estimated to reach an impressive value of US$ 88.2 billion by the end of 2033, expanding at a CAGR of 10.8% over the next ten years. Growing prevalence of chronic life-threatening diseases and high incidence of fatal accidents are projected to be prime factors driving sales of critical care equipment over the next ten years.
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Increasing investments by governments of emerging economies to bolster their healthcare infrastructure are projected to promote sales of critical care equipment in the future. Growing hospitalization, high prevalence of cardiovascular disorders, growing need for neonatal monitoring, and expanding senescent population are other factors driving revenue generation for critical care equipment companies.
This detailed critical care equipment market research analysis by Fact.MR, a market research and competitive intelligence provider, sheds light on the current and future market trends to give a comprehensive understanding of the global market landscape. Leading companies such as Dragerwerk AG & Co. KGaA, Fresenius Kabi AG, General Electric Company, Koninklijke Philips NV, MAQUET Holding B.V. & Co. KG, Medtronic PLC, and others have been detailed in this report.
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Projected Market Value | US$ 88.2 Billion |
| Growth Rate (2023-2033) | 10.8% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- In 2023, the global critical care equipment market stands at a valuation of US$ 31.6 billion.
- Demand for critical care equipment is projected to rise at a phenomenal CAGR of 10.8% from 2023 to 2033.
- The global market is anticipated to reach of US$ 88.2 billion by 2033.
- Surging geriatric population, growing incidence of fatal injuries, increasing healthcare expenditure, and rising availability of innovative critical care products are key market drivers.
- High cost of critical care systems and dearth of medical professionals to use them are prime constraints for market expansion.
- The global market is currently led by North America.
- Patient monitors and ventilators are projected to account for a sizeable chunk of the global market revenue by 2033.
“Critical care equipment sales will drop substantially in the future if the popularity of refurbished medical equipment continues to rise in emerging economies,” says a Fact.MR analyst
Key Companies Profiled in This Report
- AKAS Medical
- Smiths Medical
- Dragerwerk AG & Co. KGaA
- MAQUET Holding B.V. & Co. KG
- Fresenius Kabi AG
- B. Braun Melsungen AG
- BPL Medical Technologies Pvt. Ltd.
- Koninklijke Philips NV
- Medtronic PLC
- Nihon Kohden Corporation
- General Electric Company
- Skanray Technologies Pvt. Ltd.
Winning Strategy
Critical care equipment manufacturers are trying to come up with ways to reduce the cost of their products to make them more affordable for all healthcare institutions. Companies are also trying to make critical care devices more effective and smart by the integration of advanced technologies to improve their functionality and help medical professionals save more lives than before.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global critical care equipment market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on product (patient monitors, ventilators, infusion pumps, sleep apnea devices, others), type (hemodynamic monitoring, vital signs monitoring, neurologic monitoring, brain function monitoring, others), and end user (hospitals, ambulatory surgical centers, clinics, homecare settings, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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