Report : South & Central America Critical Care Equipment Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product (Ventilators, Patient Monitor Systems, Infusion Pumps, and Others); Application (Cardiology, Pulmonology, Orthopedics, Neurology, and Others); End-User (Hospitals, Ambulatory Care Centers, Home Care, and Others) and Country
Hospitals Segment Held Largest Share ofEnd-User inSouth & Central AmericaCritical Care Equipment Market in 2019
According to The Insight Partners market research study of ‘South & Central AmericaCritical Care EquipmentForecast to 2027 - COVID-19 Impact and Analysisbyproduct, application, and end-user’ the South & Central Americacritical care equipment market is expected to reach US$ 3,721.83 million in 2027 from US$ 1,822.27 in 2019. The market is estimated to grow with a CAGR of 8.6% from 2020-2027. The report provides trends prevailing in the South & Central Americacritical care equipment market and the factors driving market along with those that act as hindrances.
Based on the end-user, the South & Central America thecritical care equipment market, is segmented into hospitals, ambulatory care centers, home care, and others. The hospitals segment held the largest share of the market in 2019, and the same segment is anticipated to register the highest CAGR in the market during the forecast period.Hospitals segment is expected to hold major market share in critical care equipment market owing to the medical availability of various types of critical care equipment and the growing adoption rate of these devices in hospital settings. Developing healthcare infrastructure in emerging markets, rising healthcare expenditure, lucrative reimbursement policies, and increasing emphasis on better patient outcomes are factors contributing to the growth of the hospital and clinics segment.
The growth of the market is attributed to some key driving factors such as strengthening the healthcare sector across South & Central America and a high rise in covid-19 cases across South & Central America. However, the rigorous government rules and policies post covid-19 is expected to obstruct the growth of the market to a certain extent during the forecast years.
General Electric Company, Baxter International Inc, and Getinge AB are among the leading companies operating in the South & Central Americacritical care equipment market.
The report segments South & Central America Critical Care Equipment Market as Follows: