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ICU Equipment Market

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ICU Equipment Market

ICU Equipment Market by Product (Ventilators, Patient Monitors, Infusion Pumps, Defibrillator, and Blood Warmer), by Patient Type (Neonates, Pediatric, Adult, and Geriatric), by Application (Cardiology, Neurology, Oncology, and Trauma), by End User (Hospitals, Homecare Settings, Ambulatory Surgical Centers, and Trauma Centers), - Global Outlook & Forecast 2022-2030

GR - 972625 Category: Medical Devices

Number of pages: 100  |  Report Format: PDF  |  Published date: September 05, 2022

Historical Years – 2020  |  Base Year – 2021  |  Forecasted Years – 2022-2030


ICU Equipment Market Scope

Report Attribute

Details

Market size value in 2021

US$ 5.95 billion

Revenue forecast in 2030

US$ 7.62 billion

Growth Rate

CAGR of 2.8% from 2022 to 2030

Base year for estimation

2021

Forecast period

2022-2030

Segments covered

Product, Patient Type, Application, End User

Regional scope

North America, Europe, Asia Pacific, and the Rest of the World (ROW)

Report Overview

The global ICU equipment market was pegged at US$ 5.95 billion in 2021 and is expected to witness a CAGR of 2.8% during the forecast period.

Market Fundamentals 

ICU equipment is used in critical care units in the hospital designed for the management of critically ill patients, who have undergone major surgery etc. it includes patient monitoring, pain management, resuscitation devices, respiratory and cardiac support, and other life support devices. Based on various specializations, ICUs are designed and equipped accordingly to provide care to patients with specific conditions. For example, equipment for monitoring the activity and functioning of the brain and spinal cord in the Neuromedical ICU. 

Market Dynamic

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Increasing road traffic accidents worldwide is one of the major factors driving the growth of the critical care equipment market. Road traffic accidents are known to be the ninth leading cause of death worldwide. The rising prevalence of cardiovascular disease (CVD), including congestive heart failure, coronary artery disease, cardiac arrest, and stroke, is fueling the market growth. Having a large population pool of over 60s will help expand the critical care equipment market due to their low levels of immunity. The elderly population is predisposed to heart problems, spinal cord injuries, neurological diseases, and cancer. Medical tourism is growing due to the development of medical infrastructure and progressive reimbursement policies. 

However, inappropriate, and unfavorable reimbursement scenarios in developing and underdeveloped countries hamper the market growth rate. Additionally, high costs associated with R&D skills and installation and maintenance of certain equipment pose additional challenges to the market. A shortage of skilled professionals in backward economies also hinders the market growth rate.

Market Ecosystem

The global ICU equipment market has been analyzed from five perspectives: product, patient type, application, end-user, and region. 

ICU Equipment Market by Product 

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Based on product, the global ICU equipment market is segmented into ventilators, patient monitors, infusion pumps, defibrillators, and blood warmer. The ventilator segment dominates the ICU equipment market. This dominance is attributed to the rising cases of covid in the last 2 years, with patients requiring ventilation.

ICU Equipment Market by Patient Type

based on patient type, the ICU equipment market is segmented into neonates, pediatrics, adult, and geriatric. The rising geriatric population globally is contributing to the dominance of the geriatric segment in the ICU equipment market. The increased adoption of smoking in the adult population leading to the development of critical respiratory diseases is expected to boost the market.

ICU Equipment Market by Application

Based on application, the global ICU equipment market is divided into, cardiology, neurology, oncology, trauma, and others. The cardiology application segment dominates the global ICU equipment market due to the increased cardiovascular cases in the young population due to sedentary lifestyle adoption. 

ICU Equipment Market by End User

Based on the end-user the global ICU equipment market is divided into, hospitals, homecare settings, ambulatory surgical centers, and trauma centers. The hospital segment dominates the ICU equipment market due to a high number of patient admissions. On the other hand, in the upcoming years, the homecare settings segment is expected to grow significantly due to the inclination of patients toward home healthcare settings. 

ICU Equipment Market by Region 

Based on region, the global ICU Equipment market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominates the ICU equipment market owing to the rising number of geriatric populations, supportive government regulations, and rapid investments in R&D activities in product innovations within the region. Whereas Asia Pacific region is expected to observe significant growth in the forecast period because of the improved healthcare infrastructure.

Competitive Landscape

Some of the prominent players operating in the global ICU equipment market are: -

  • Koninklijke Philips N.V
  • GE Healthcare
  • Getinge AB
  • Integra LifeSciences
  • Heyer Medical AG
  • B. Braun Melsungen AG
  • Smiths Medical, Inc.
  • Medtronic Plc
  • Invacare Corporation
  • Skytron LLC

Strategic Developments

  • In January 2022, ICU Medical Inc. announced its acquisition of Smiths Medical, Inc., adding the products like syringe and ambulatory infusion devices, vascular access, and vital care products to the ICU Medical portfolio.
  • In October 2020, Stryker announced the launch of the first wireless hospital bed Procuity with an aim to improve the work efficiency of nursing staff and lower the cost of the hospital.

Frequently Asked Questions About This Report

The global ICU equipment market is expected to grow at a CAGR of 2.8% in the forecast period.

Technological advancements in the medical devices sector are governing the ICU equipment market.

Medtronic, B. Braun Melsungen AG, and GE Healthcare are a few key players in the global ICU equipment market.

The ventilator segment dominates the global ICU equipment and the defibrillator segment is expected to grow in the upcoming years.

Asia Pacific region is expected to witness highest growth in the forecast period.

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem 
    2. Timeline Under Consideration
      1. Historical Years – 2020
      2. Base Year – 2021
      3. Forecasted Years – 2022 to 2030
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions       
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2021) 
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL ICU EQUIPMENT MARKET - ANALYSIS & FORECAST, BY PRODUCT
    1. Ventilators
    2. Patient Monitors
    3. Infusion Pumps
    4. Defibrillator
    5. Blood Warmer
    6. Others
  6. GLOBAL ICU EQUIPMENT MARKET - ANALYSIS & FORECAST, BY PATIENT TYPE 
    1. Neonates
    2. Pediatric
    3. Adult
    4. Geriatric
  7. GLOBAL ICU EQUIPMENT MARKET - ANALYSIS & FORECAST, BY APPLICATION
    1. Cardiology
    2. Neurology
    3. Oncology
    4. Trauma
    5. Others
  8. GLOBAL ICU EQUIPMENT MARKET - ANALYSIS & FORECAST, BY END-USER
    1. Hospitals 
    2. Homecare Settings
    3.  Ambulatory Surgical Centers
    4. Trauma Center
  9. GLOBAL ICU EQUIPMENT MARKET - ANALYSIS & FORECAST, BY REGION
    1. North America ICU Equipment Market
      1. North America ICU Equipment Market, by Product 
      2. North America ICU Equipment Market, by Patient Type 
      3. North America ICU Equipment Market, by Application
      4. North America ICU Equipment Market, by End User
      5. North America ICU Equipment Market, by Country
        1. U.S.
          1. U.S. ICU Equipment Market, by Product 
          2. U.S. ICU Equipment Market, by Patient Type 
          3. U.S. ICU Equipment Market, by Application
          4. U.S. ICU Equipment Market, by End User
        2. Canada
          1. Canada ICU Equipment Market, by Product
          2. Canada ICU Equipment Market, by Patient Type 
          3. Canada ICU Equipment Market, by Application
          4. Canada ICU Equipment Market, by End User
    2. Europe ICU Equipment Market
      1. Europe ICU Equipment Market, by Product
      2. Europe ICU Equipment Market, by Patient Type 
      3. Europe ICU Equipment Market, by Application
      4. Europe ICU Equipment Market, by End User
      5. Europe ICU Equipment Market, by Country/Region
        1. Germany
          1. Germany ICU Equipment Market, by Product
          2. Germany ICU Equipment Market, by Patient Type 
          3. Germany ICU Equipment Market, by Application
          4. Germany ICU Equipment Market, by End User
        2. U.K.
          1. U.K. ICU Equipment Market, by Product 
          2. U.K. ICU Equipment Market, by Patient Type 
          3. U.K. ICU Equipment Market, by Application
          4. U.K. ICU Equipment Market, by End User
        3. Spain
          1. Spain ICU Equipment Market, by Product
          2. Spain ICU Equipment Market, by Patient Type 
          3. Spain ICU Equipment Market, by Application
          4. Spain ICU Equipment Market, by End User
        4. Italy 
          1. Italy ICU Equipment Market, by Product
          2. Italy ICU Equipment Market, by Patient Type 
          3. Italy ICU Equipment Market, by Application
          4. Italy ICU Equipment Market, by End User
        5. France
          1. France ICU Equipment Market, by Product
          2. France ICU Equipment Market, by Patient Type 
          3. France ICU Equipment Market, by Application
          4. France ICU Equipment Market, by End User
        6. Rest of Europe 
          1. Rest of Europe ICU Equipment Market, by Product 
          2. Rest of Europe ICU Equipment Market, by Patient Type 
          3. Rest of Europe ICU Equipment Market, by Application 
          4. Rest of Europe ICU Equipment Market, by End User
    3. Asia Pacific ICU Equipment Market
      1. Asia Pacific ICU Equipment Market, by Product
      2. Asia Pacific ICU Equipment Market, by Patient Type 
      3. Asia Pacific ICU Equipment Market, by Application
      4. Asia Pacific ICU Equipment Market, by End User
      5. Asia Pacific ICU Equipment Market, by Country/Region
        1. China
          1. China ICU Equipment Market, by Product
          2. China ICU Equipment Market, by Patient Type 
          3. China ICU Equipment Market, by Application
          4. China ICU Equipment Market, by End User
        2. Japan
          1. Japan ICU Equipment Market, by Product
          2. Japan ICU Equipment Market, by Patient Type 
          3. Japan ICU Equipment Market, by Application 
          4. Japan ICU Equipment Market, by End User
        3. India
          1. India ICU Equipment Market, by Product
          2. India ICU Equipment Market, by Patient Type 
          3. India ICU Equipment Market, by Application
          4. India ICU Equipment Market, by End User
        4. South Korea
          1. South Korea ICU Equipment Market, by Product
          2. South Korea ICU Equipment Market, by Patient Type 
          3.  
          4. South Korea ICU Equipment Market, by End User
        5. Australia
          1. Australia ICU Equipment Market, by Product
          2. Australia ICU Equipment Market, by Patient Type 
          3.  
          4. Australia ICU Equipment Market, by End User
        6. Rest of Asia Pacific 
          1. Rest of Asia Pacific ICU Equipment Market, by Product 
          2. Rest of Asia Pacific ICU Equipment Market, by Patient Type 
          3. Rest of Asia Pacific ICU Equipment Market, by Application
          4. Rest of Asia Pacific ICU Equipment Market, by End User
    4. Rest of the World ICU Equipment Market
      1. Rest of the World ICU Equipment Market, by Product 
      2. Rest of the World ICU Equipment Market, by Patient Type 
      3. Rest of the World ICU Equipment Market, by Application
      4. Rest of the World ICU Equipment Market, by End User
      5. Rest of the World ICU Equipment Market, By Region
        1. Latin America
          1. Latin America ICU Equipment Market, by Product 
          2. Latin America ICU Equipment Market, by Patient Type 
          3. Latin America ICU Equipment Market, by Application
          4. Rest of the World ICU Equipment Market, by End User
        2. Middle East & Africa
          1. Middle East & Africa ICU Equipment Market, by Product 
          2. Middle East & Africa ICU Equipment Market, by Patient Type 
          3. Middle East & Africa ICU Equipment Market, by Application
          4. Middle East & Africa ICU Equipment Market, by End User
  10. COMPANY PROFILES              
    1. Koninklijke Philips N.V
      1. Business Snapshot 
      2. Products/Services Offered
      3. Financial Details*
      4. Strategic Developments
    2. GE Healthcare
    3. Getinge AB
    4. Integra LifeSciences
    5. Heyer Medical AG
    6. B. Braun Melsungen AG
    7. Smiths Medical, Inc.
    8. Medtronic Plc
    9. Invacare Corporation
    10. Skytron LLC

 

*Insights on financial permanence is subject to availability of information in public domain


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