Global Intensive Care Unit (ICU) Devices Market, By Type (Mechanical Ventilators, Cardiac Monitors, Equipment for Constant Monitoring, Feeding Tubes, Nasogastric Tubes, Suction Pumps, Drains and Catheters), End-User (Hospitals, Ambulatory Surgical Center), Application (Adult ICU, Neonatal ICU) – Industry Trends and Forecast to 2029.
Intensive Care Unit (ICU) Devices Market Analysis and Size
The market for intensive care unit (ICU) devices is expected to grow in the forecast period. In terms of the regional analysis, North America dominates the ICU devices market due to the high prevalence of patients suffering from cardiovascular and other diseases along with adoption of advanced technology, while APAC is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the prevalence of improved healthcare facilities.
Data Bridge Market Research analyses that the intensive care unit (ICU) devices market which was USD 7.4 billion in 2021, would rocket up to USD 11.31 billion by 2029, and is expected to undergo a CAGR of 5.45% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Intensive Care Unit (ICU) Devices Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Mechanical Ventilators, Cardiac Monitors, Equipment for Constant Monitoring, Feeding Tubes, Nasogastric Tubes, Suction Pumps, Drains and Catheters), End-User (Hospitals, Ambulatory Surgical Center), Application (Adult ICU, Neonatal ICU)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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GENERAL ELECTRIC (U.S.), Koninklijke Philips N.V. (Netherlands), Baxter (U.S.), Drägerwerk AG & Co. KGaA (Germany), Medtronic (Ireland), Fresenius Medical Care AG & Co. KGaA (Germany), Nihon Kohden Corporation (Japan), Stryker (U.S.), BD (U.S.), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), ResMed (U.S.), Siemens (Germany), ICU Medical, Inc. (U.S.), Terumo Corporation (Japan), B. Braun Melsungen AG (Germany)
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Market Opportunities
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Market Definition
In ICUs, ultrasound is a tool that is frequently employed. It serves as a simple and secure investigative tool as well as helping the doctor implant lines. The majority of the portable ultrasound devices used in intensive care might be utilised at the patient's bedside.
Global Intensive Care Unit (ICU) Devices Market Dynamics
Drivers
- Increase in number of patients
In the forecast period of 2022–2029, factors such as the rising number of patients with cardiovascular and other diseases, the global geriatric population, the adoption of minimally invasive surgeries, and the prevalence of better healthcare facilities are likely to boost the growth of the intensive care unit (ICU) devices market.
- Insurance policies
On the other hand, favourable insurance company policies and the development of cutting-edge technology will increase a number of chances and fuel the expansion of the intensive care unit (ICU) devices market during the time covered by the forecast.
- Rise in chronic diseases
The effective rise in surgical procedures largely drives the market for intensive care unit (ICU) devices, growth in geriatric patients, and development in occurrences of chronic syndromes like diabetes, asthma, blood pressure, and numerous others. Additionally, it is anticipated that the government and private sectors will increase their spending in healthcare infrastructure, driving the market growth in both developed and developing nations.
Opportunities
The market's growth is fueled by increase in aging populations and the growing incidence, prevalence of chronic diseases that lead to hospitalization, and increased need for ICUs for COVID-19 care.
Restraints/Challenges
- High cost
On the other hand, the high cost associated with the devices and lack of trained professionals in developing economies will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the market.
This intensive care unit (ICU) devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the intensive care unit (ICU) devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Intensive Care Unit (ICU) Devices Market
COVID-19 has a positively impact on the market. Although there has been tremendous pressure on healthcare authorities and health services to draught and communicate preparedness plans that consist of the increase in number of ICU beds, to accommodate gravely ill patients, due to the frequent outbreaks of pandemic diseases like Influenza, Ebola, and the recent Covid-19. The majority of patients during pandemics need ICU admission, which drives up the need for ICU devices. As a result, it is projected that the global market for intensive care unit (ICU) devices will grow in the near future.
Global Intensive Care Unit (ICU) Devices Market Scope
The intensive care unit (ICU) devices market is segmented on the basis of type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Mechanical Ventilators
- Cardiac Monitors
- Equipment for Constant Monitoring
- Feeding Tubes
- Nasogastric Tubes
- Suction Pumps
- Drains and Catheters
End-User
- Hospitals
- Ambulatory Surgical Center
Application
- Adult ICU
- Neonatal ICU
Intensive Care Unit (ICU) Devices Market Regional Analysis/Insights
The intensive care unit (ICU) devices market is analysed and market size insights and trends are provided by country, type, application and end user as referenced above.
The countries covered in the ICU Devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the intensive care unit (ICU) Devices market due to the high prevalence of patients suffering from cardiovascular and other diseases along with adoption of advanced technology.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the prevalence of improved healthcare facilities.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The intensive care unit (ICU) devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for intensive care unit (ICU) devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the intensive care unit (ICU) devices market. The data is available for historic period 2010-2020.
Competitive Landscape and Intensive Care Unit (ICU) Devices Market Share Analysis
The intensive care unit (ICU) devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to intensive care unit (ICU) devices market.
Some of the major players operating in the intensive care unit (ICU) devices market are:
- GENERAL ELECTRIC (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Baxter (U.S.)
- Drägerwerk AG & Co. KGaA (Germany)
- Medtronic (Ireland)
- Fresenius Medical Care AG & Co. KGaA (Germany)
- Nihon Kohden Corporation (Japan)
- Stryker (U.S.)
- BD (U.S.)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- ResMed (U.S.)
- Siemens (Germany)
- ICU Medical, Inc. (U.S.)
- Terumo Corporation (Japan)
- B. Braun Melsungen AG (Germany)
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