Critical Care Equipment Market Growth Accelerates: Strategic Forecast Predicts $8.71 Billion by 2029

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What Will the Critical Care Equipment Industry Market Size Be by 2025?

The market size of critical care equipment has seen substantial growth in the past few years. There is a predicted increase from $5.73 billion in 2024 to $6.16 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. The historical growth can be linked to factors such as healthcare infrastructure, regulatory conditions, disease trends, economic indicators, and patient choices.

What's the Long-Term Growth Forecast for the Critical Care Equipment Market Size Through 2029?

The market for critical care equipment is predicted to experience significant expansion in the coming years, reaching a valuation of $8.71 billion in 2029, with a compound annual growth rate (CAGR) of 9.1%. This projected growth during the forecast period can be ascribed to factors such as innovation and research & development, global health risks, value-oriented healthcare, the rise of emerging markets, as well as climate and environmental impacts. Heading into this period, the main trends to watch include technological improvements, remote patient management, individualized medicine and custom solutions, preparedness for global health incidents, and data security and confidentiality.

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What Are the Key Growth Drivers Fueling the Critical Care Equipment Market Expansion?

The critical care equipment market is likely to experience growth due to the escalating number of chronic diseases. Chronic illnesses are generally identified as conditions that persist for one year or more and require continuous medical care, often limiting everyday activities. Essential in the treatment and monitoring of these diseases, critical care equipment is utilized primarily in the intensive care unit to address major surgical complications, acute infections, and serious respiratory issues. This equipment provides life support to various organs in the body. For example, as reported by the World Health Organization, a government agency based in Switzerland, chronic diseases contributed to the death of 41 million individuals in 2022, accounting for around 74 percent of worldwide deaths. Every year, chronic diseases cause the premature death of 17 million people before they reach the age of 70. It is projected that by 2025, chronic diseases will impact approximately 164 million people. Consequently, the rise in chronic illnesses is catalyzing the expansion of the critical care equipment market.

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What Are the Key Trends Driving Critical Care Equipment Market Growth?

Developing innovative products is a primary trend for gaining traction in the critical care equipment market. The major players in this market are concentrating their efforts on creating novel solutions to consolidate their presence. For instance, Getinge AB., a medical technology firm based in Sweden, unveiled its innovative product 'Servo-C mechanical ventilator' in January 2023. This ventilator offers lung-protective therapeutic tools suitable for children and adults alike. Its design simplifies the process of respiratory support. Unique characteristics include CO2 monitoring and the capability to visualize volume and pressure targets. Other features encompass 360-degree alarm visibility, high flow therapy, and tailored lung protection enhanced with superior monitoring.

How Is the Critical Care Equipment Market Segmented?

The critical care equipment market covered in this report is segmented -

1) By Product Type: Patient Monitors, Ventilators, Infusion Pumps, Sleep Apnea Devices, Other Products

2) By Monitoring Type: Hemodynamic Monitoring, Vital Signs Monitoring, Neurologic Monitoring, Brain Function Monitoring, Monitoring Types

3) By Patient Type: Adult, Geriatric, Pediatric, Neonates

4) By Distribution Channel: Direct Tender, Retail Sales, Third Party Distribution, Other Distribution Channels

5) By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Other End Users

Subsegments:

1) By Patient Monitors: Vital Signs Monitors, Cardiac Monitors, Multi-Parameter Monitors, Remote Patient Monitoring Systems

2) By Ventilators: Invasive Ventilators, Non-Invasive Ventilators, Portable Ventilators, High-Frequency Ventilators

3) By Infusion Pumps: Syringe Pumps, Volumetric Pumps, Patient-Controlled Analgesia (PCA) Pumps, Smart Infusion Pumps

4) By Sleep Apnea Devices: Continuous Positive Airway Pressure (CPAP) Devices, Bi-Level Positive Airway Pressure (BiPAP) Devices, Auto-Adjusting CPAP Machines, Oral Appliances

5) By Other Products: Defibrillators, Oxygen Concentrators, Suction Devices, Temperature Management Systems

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Which Companies Are Leading the Charge in Critical Care Equipment Market Innovation?

Major companies operating in the critical care equipment market include AKAS Medical, B. Braun Melsungen AG, BPL Medical Technologies Pvt. Ltd., Drägerwerk AG & Co. KGaA, General Electric Company, Koninklijke Philips N.V., MAQUET Holding B.V. & Co. KG, Medtronic plc, Nihon Kohden Corporation, Skanray Technologies Ltd., Smiths Medical Inc., Getinge AB, Fresenius Kabi AG, Baxter International Inc., Hamilton Medical AG, Fisher & Paykel Healthcare Limited, Abbott Laboratories, Edwards Lifesciences Corporation, ResMed Inc., Teleflex Incorporated, Becton Dickinson and Company, ICU Medical Inc., Masimo Corporation, Mindray Medical International Limited, ZOLL Medical Corporation, Hill-Rom Holdings Inc., Stryker Corporation, Terumo Corporation, Boston Scientific Corporation, Cardinal Health Inc., Johnson & Johnson Services Inc., Siemens Healthineers AG

Which Regions Are Leading the Global Critical Care Equipment Market in Revenue?

North America was the largest region in the critical care equipment market in 2024. The regions covered in the critical care equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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