Europe Critical Care Equipment Market Dynamics and Trends by 2027

The Europe critical care equipment market is expected to reach US$ 11,868.33 million in 2027 from US$ 5,611.47 million in 2019. The market is estimated to grow with a CAGR of 9.1% from 2020-2027.

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

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and other life support equipment designed to care for critically ill patients or have undergone a major surgical procedure, thereby requiring 24-hour care monitoring. These devices help in preventing any serious injury or death of the patient. They are essential in all healthcare facilities like hospitals, clinics, and others. The scope of the critical care equipment market includes product, application, end-user, and region.

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

Market Insights

Booming Healthcare Sector and Technological Advances

The healthcare sector has been booming and has expanded vastly over the years. Many government institutions in Europe have also recommended the use of infusion pumps. For instance, the National Institute for Healthcare and Excellence (NICE) recommended sensor-augmented pump therapy as the optimal treatment for type 1 diabetes, owing to its ability to perform automated suspension of insulin, thereby decreasing the risk of hypoglycemic episodes. The technological developments performed by the major players in the insulin pump are the factor for the growth of the market. For instance, in April 2018, Tandem Diabetes Care, Inc. entered into a distribution agreement with MoviSpA (Italy) to market the Tandem’s t: slim X2 Insulin Pump in Italy. The partnership with experienced insulin pump distributors will expand the available insulin pump options for patients and healthcare providers worldwide. The technologically advanced critical care devices will facilitate more convenient access to patient’s information or status for the healthcare specialists. This further allows better management in the case of the covid-19 pandemic. Innovations in critical care, including surgical/operation procedures and intensive care unit (ICU), will help hospitals and healthcare facilities provide better care and comfort. For instance, in 2018, the Valld’Hebron hospital, Barcelona, Spain, installed a new state-of-the-art smart Intensive Care Unit (ICU). The smart ICU is incorporated with novel technologies that help healthcare professionals to provide the best attention and care to patients in critical conditions. Thus, a boom in the healthcare sector and advancement in technologies are creating lucrative opportunities for the growth of the market.

Product- Based Market Insights

Based on product, the critical care equipment market is 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.

Europe 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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Europe 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,Carmaker Volkswagen AG’s Spanish unit, SEAT, started manufacturing emergency ventilators during national outbreaks of the new coronavirus. Spanish companies, from carmakers and other firms, have switched their production to ventilator systems and masks. In collaboration with Barcelona-based startupProtofy.XYZ, Volkswagen AG’s SEAT focuses on producing 100 devices, “OxyGEN,” every day, and provide them to Spanish hospitals free of charge.

EUROPECRITICAL 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

• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy

Company Profiles

• General Electric Company
• Medtronic
• Braun Melsungen AG
• Baxter International Inc
• Dragerwerk AG & Co. KGaA
• Hamilton Medical
• Getinge AB
• Koninklijke Philips N.V.

Report Scope

Europe Critical Care Equipment Market Regional Insights

The regional trends and factors influencing the Europe Critical Care Equipment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Europe Critical Care Equipment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Europe Critical Care Equipment Market Report Scope

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

The Europe 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.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Europe Critical Care Equipment Market are:

1. General Electric Company
2. Medtronic
3. Braun Melsungen AG
4. Baxter International Inc
5. Dragerwerk AG & Co. KGaA

Disclaimer: The companies listed above are not ranked in any particular order.