Asia Pacific Critical Care Equipment Market Growth Drivers and Forecast by 2027

The Asia Pacificcritical care equipment market is expected to reach US$ 10,552.25 million in 2027 from US$ 4,602.61 million in 2019. The market is estimated to grow with a CAGR of 10.2% from 2020-2027.

Critical care equipment includes cardiac support, patient monitoring, respiratory support, emergency resuscitation devices, pain management

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India Critical Care Equipment Market Revenue and Forecasts to 2027 (US$ MN)

Market Insights-

An Uprise in the Development of the Medical Device Industry

The healthcare sector has been booming and has expanded vastly over the years. The medical device industry has shown massive growth due to the need for critical care equipments in the market. The South Korean medical device industry is the fourth largest in the Asia Pacific region and serves vital growth opportunities for the market. The country exports medical equipment such as ultrasound, dental implants, X-Ray machines, IVD kits, critical care devices are among others to the US, Japan, and Germany.Moreover, Japan has gained substantial growth in the medical device industry. The development of the market is defined by the significantly rising artificial intelligence for medical technology. It has a well-established healthcare system, and the government is continuously backing the country’s healthcare industry. Japan has several market leaders that have enhanced the production of medical devices during the COVID-19 pandemic period. For instance, companies such as Terumo Corporation and Nipro Corporation have enhanced their extracorporeal membrane oxygenation (ECMO) machines. ~100 units have been increased in the production, which is equivalent to its regular production for a year. Japanese companies are increasing the production of critical instruments such as ventilators to cope with the rising demand for the devices due to the ongoing COVID19 pandemic. For instance, Hitachi Ltd. collaborates with local ventilator manufacturers and supports increasing ventilators’ production.

Product- Based Market Insights

Based on product,thecritical care equipment marketis segmented into patient monitor systems, ventilators, infusion pumps, and others. The patient monitor systems segment held the largest share of the market in 2019, whereas the ventilators segment is anticipated to register the highest CAGR in the market during the forecast period.

Asia Pacific Critical Care Equipment Market, by Product – 2019 and 2027

Application- Based Market Insights

Based on application, the critical care equipment market is segmented into cardiology, pulmonology, neurology, orthopedic, and others. The cardiology segment held the largest share of the market in 2019, whereas the pulmonology segment is anticipated to register the highest CAGR in the market during the forecast period.

End-User - Based Market Insights

Based on end-user, the critical 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, also the same segment is anticipated to register the highest CAGR in the market during the forecast period.

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Asia Pacific Critical Care Equipment Market: Strategic Insights

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Product launches and approvals are commonly adopted strategies by companies to expand their footprint worldwide and meet the growing demand. The players operating in the critical care equipment market adopt the expansion, collaboration, and product launch strategies to enlarge customer base across the world. These strategies allow the players to maintain their brand name globally. For instance,KONINKLIJKE PHILIPS N.V. developed MeCare a mobile-enabled care technology that provides chronically track of ill patient’s daily health targets, manages symptoms, and uses video conferencingfor daily monitoring.

ASIA PACIFICCRITICAL CARE EQUIPMENT MARKET SEGMENTATION

By Product

• Patient Monitor Systems
• Ventilators
  • Invasive Ventilators
  • Non-invasive Ventilators
• Infusion Pumps
• Others

By Application

• Cardiology
• Pulmonology
• Neurology
• Orthopaedic
• Others

By End-User

• Hospitals
• Ambulatory Care Centers
• Home Care
• Others

By Country

• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia

Company Profiles

• General Electric Company
• Medtronic
• Braun Melsungen AG
• Baxter International Inc
• Hamilton Medical
• Getinge AB
• Koninklijke Philips N.V
• Asahi Kasei Corporation
• Shenzhen Mindray Biomedical Electronics Co., Ltd

Asia Pacific Critical Care Equipment Market Report Scope

Asia Pacific Critical Care Equipment Market Players Density: Understanding Its Impact on Business Dynamics

The Asia Pacific Critical Care Equipment Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.