Global Intensive Care Unit (ICU) Equipment Market – Industry Trends and Forecast to 2030

 Intensive Care Unit (ICU) Equipment Market Analysis and Size

The rise in the incidence of neurological diseases drives the growth of the intensive care unit equipment market. An intensive care unit (ICU) is a part of a hospital that offers aggressive therapy for critically ill and high-risk patients while utilizing cutting-edge technology and both invasive and noninvasive monitoring. In these devices, the practitioner is continuously updated on the patient's physiological characteristics, so titrated therapy can be given. Another trend is the development of new ICU-specific technologies, such as telemetry and remote patient monitoring. These technologies can help improve care quality by providing clinicians with more information and allowing them to make better decisions.

Data Bridge Market Research analyses that the intensive care unit (ICU) equipment market which is USD 6.75 billion in 2022, is expected to reach USD 9.53 billion by 2030, at a CAGR of 4.4% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Intensive Care Unit (ICU) Equipment Market Scope and Segmentation  

Market Definition

ICU (intensive care unit) equipment includes patient monitoring, respiratory and cardiac support, pain management, emergency resuscitation devices, and other life support equipment. It is designed to take care for patients who have suffered serious injuries, have a critical or life-threatening illness, or have undergone major surgery and require round-the-clock supervision and care.

Intensive Care Unit (ICU) Equipment Market Dynamics

Drivers

• Rising prevalence of chronic diseases

Chronic diseases such as neurological, cardiovascular, and respiratory diseases are prevalent. For instance, according to the Centres for Diseases Control and Prevention, 133 Americans has at least one chronic disease. They require treatment or online monitoring, which leads to long-term hospitalization. So, the number of patient admissions in the intensive care unit is increasing with the growing chronic diseases.

• Rising COVID-19 patients

The increasing number of COVID-19 patients with respiratory failure has resulted in an unprecedented surge of ventilators, resulting in a mechanical ventilator shortage. Major key players and small-scale manufacturers have increased ventilator production to alleviate the global shortage. For instance, in March 2020, Medtronic increased ventilator production by more than 40% in response to a coronavirus outbreak and to meet increased patient and healthcare system demand.

Opportunities

• Increase in the number of research and development activities 

Demand for tele-intensive care units has increased due to an increase in the number of patients with chronic illnesses. The need for tele-intensive care units has also increased due to the growing inclination for shorter hospital stays achieved through the use of innovative technologies. It assists in alerting doctors with alerts and vital sign variation, which is another essential reason driving demand in the market.

Restraints/Challenges

• High cost associated with the equipment

Despite the chronic disease burden and growing population, certain factors hamper the market's growth. High price of critical care equipment and the cost per person in the ICU will hinder the growth of the intensive care unit (ICU) equipment market.

This intensive care unit (ICU) equipment 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) equipment 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 the Intensive Care Unit (ICU) Equipment Market

Innovative strategies are needed to involve residents in the care of severely ill COVID-19 patients as the epidemic spreads throughout the world. Telemedicine is one of the cutting-edge technologies that is receiving a lot of attention right now because of the pandemic. Numerous initiatives and implementations relating to tele ICU have been made by different government agencies and market players, and these are projected to fuel market expansion.

The number of critical care admissions has witnessed a hike during 2020, due to the rising number of COVID cases, thus suggesting positive growth for the market. Moreover, the COVID-19 outbreak resulted in an unprecedented surge in demand of beds, dialysis equipment and ventilators.

Recent developments

• In 2020, Stryker announced the global launch of ProCulty, the industry's first and only completely wireless hospital bed. This intelligent bed was created to help reduce in-hospital patient falls at all levels of care, improve nurse workflow efficiency, and lower hospital costs.

Global Intensive Care Unit (ICU) Equipment Market Scope

The intensive care unit (ICU) equipment market is segmented on the basis of product type, patient, 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.

Product Type

• Mechanical Ventilators
• Cardiac Monitors
• Equipment for The Constant Monitoring
• Feeding Tubes
• Nasogastric Tubes
• Suction Pumps
• Drains and Catheters

 Patient

• Adult
• Pediatric

 Application

• Neurology
• Cardiology
• Respiratory
• Oncology
• Trauma
• Others

 End User

• Hospitals
• Ambulatory Surgical Center
• Specialty Clinics
• Others

Intensive Care Unit (ICU) Equipment Market Regional Analysis/Insights

The intensive care unit (ICU) equipment market is analyzed and market size insights and trends are provided by country, product type, patient, application and end user as referenced above.

The countries covered in the intensive care unit (ICU) equipment 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) equipment market because of the region's well-developed healthcare infrastructure and favourable reimbursement policies.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of the region's developing healthcare infrastructure and growing patient pool of chronic disorders.

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) equipment 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) equipment market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the intensive care unit (ICU) equipment market. The data is available for historic period 2011-2021.

Competitive Landscape and Intensive Care Unit (ICU) Equipment Market Share Analysis

The intensive care unit (ICU) equipment 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) equipment market.

Some of the major players operating in the intensive care unit (ICU) equipment market are:

• Јоhnѕоn & Јоhnѕоn Services Inc. (U.S.)
• B. Braun SE (Germany)
• General Electric (U.S.)
• Ѕіеmеnѕ (Germany)
• Вауеr АG (Germany)
• Меdtrоnіс (Ireland)
• Koninklijke Philips N.V. (Netherlands)
• Nоvаrtіѕ AG (Switzerland)
• Саrdіnаl Неаlth (U.S.)
• Invacare Corporation (U.S.)
• Ѕtrуkеr (U.S.)
• Аllеrgаn (Ireland)
• Medline Industries, Inc (U.S.)
• 3М (U.S.)
• Теrumо Соrр. (Japan)
• Olympus Medical Systems India Private Limited (Japan)
• Edwards Lifesciences Corporation (U.S.)
• Тоѕhіbа Соrр. (India)
• СR Ваrd Іnс. (U.S.)
• Ноlоgіс Іnс. (U.S.)

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