Infinium Global Research has added a new report on Global Critical Care Equipment Market. The report covers the analysis of global as well as regional markets of critical care equipment. Moreover, the report gives insights into the factors that affect the global as well as regional performance of the market in the short run and in the long run. According to the report, the global critical care equipment market is projected to grow at a CAGR of 8.7% over the forecast period of 2019-2025.
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Critical care is a specialized care given to those patients in intensive care units or trauma centers, who are facing life-threatening conditions and need constant monitoring as well as comprehensive care. The critical care equipment used in intensive care units is meant for providing care as well as monitoring round the clock. Emergency resuscitation equipment, life support, pain management equipment, patient monitoring equipment, respiratory as well as cardiac support equipment is the major critical care equipment used in Intensive care units.
Aging Population is a Major Factor Driving the Growth of the Global Critical Care Equipment Market
An aging population is a major factor driving the growth of the global critical care equipment market. Moreover, an increase in coronary heart-related illness owing to modern lifestyles is anticipated to further drive demand for critical care equipment for intensive care units in hospitals. The heavy investments in the healthcare sector provide modern medical treatments facilities for patients with critical healthcare conditions and it is expected to boost the growth of the market. Rising income among the population in the emerging nations is expected to provide more healthcare access to the people. Rising government support to the healthcare systems in matured economies is expected to help in sustaining the growth of the critical care equipment market.
On the other hand, the higher cost of critical care equipment is expected to restrain the growth in the global critical care equipment market during the forecast period. However, the presence of cheaper critical care equipment manufacturers in the market augurs well for the future expansion of the market during the forecast period. Furthermore, technological advancements in the healthcare industry are an important factor which is anticipated to provides growth opportunities to the growth of the critical care equipment market.
Critical Care Equipment Market: Regional Analysis
An increasing number of super-specialty and multi-specialty hospitals to aid the increasing occurrences of chronic, as well as respiratory diseases, is expected to drive the growth of the Asia-Pacific market. Increasing old age population, tremendous government support, and innovations in the technology are expected to drive the growth of the market further. In Europe, the cuts in the healthcare sector and a shortage of trained staff might affect the growth of the market in some regions. However, due to the presence of larger geriatric population and increasing instances of critical healthcare conditions, the demand from the European market is expected to remain stable.
In North America, increased insurance coverage in America is expected to provide more access for more people to the healthcare system and it is expected to have a positive impact on the market. The emerging nations in Latin America are expected to provide growth opportunities for major players in the global critical care equipment market. North African countries provide opportunities for growth for major players in the global critical care equipment market. The availability of cheaper critical care equipment is anticipated to provide greater accessibility to a wider population in the region during the forecast period.
Critical Care Equipment Market: Segmentation
The report on global critical care equipment market covers segments such as product type, and end user. On the basis of product type, the sub-markets include infusion pumps, patient monitors, ventilators, and Other product types. On the basis of end user, the sub-markets include hospitals, homes, and medical centers.
Critical Care Equipment Market: Competitive Landscape
The report provides profiles of the companies in the market such as Smiths Medical, Inc., Skanray Technologies Pvt. Ltd, Nihon Kohden Corporation, Medtronic plc, MAQUET Holding B.V. & Co. KG., Koninklijke Philips N.V., General Electric Company, Fresenius Kabi, B. Braun Melsungen AG, and BPL Medical Technologies Pvt Ltd.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the critical care equipment.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.