North America Critical Care Equipment Market Drivers and Forecasts by 2027

The North America critical care equipment market is expected to reach US$ 18,212.89 million in 2027 from US$ 8,128.83 million in 2019. The market is estimated to grow with a CAGR of 9.9% 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.

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

Market Insights

Increasing Number of Covid-19 Cases across the Region

The average saturation level shows a 95% oxygen level in the body, and the oxygen level can drop up to 50%–60% in respiratory diseases and covid-19 patients. In such a situation, there will be a reduction in oxygen supply to different organs of the body, which leads to organ failures. Ventilators are life-support machines, though they would not cure an illness, but can keep patients alive while suffering from an infection. Oxygen therapy in cases of severe COVID-19 saves the lives of patients. According to an article published in the American Journal of Tropical Medicine and Hygiene, in June 2020, physicians could reduce more than 50% death rate among COVID-19 patients by using ventilators.  The mechanical ventilator has become very important in the COVID-19 pandemic. It remains the last best hope for the survival of patients who no longer can draw a life-sustaining breath. In March 2020, The US Food and Drug Administration planned to increase the supply of ventilators, ventilator accessories, and ventilator tubing connectors owing to the shortage during the covid-19 pandemic to reduce the burdens on the health care system. Thus, increasing demand for critical care equipments for the effective management of covid-19 patients is creating lucrative opportunities for the growth of the critical care equipment 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.

North America 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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North America 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,For instance, in April 2020, Philips announced an expansion plan of its hospital ventilator production to 4,000 units/week. Moreover, Q3 2020 also introduced its new Philips Respironics E30 ventilator with immediate production of 15,000 units/week.

NORTH AMERICA CRITICAL 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

• North America
  • US
  • Canada
  • Mexico

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

North America Critical Care Equipment Market Regional Insights

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

North America Critical Care Equipment Market Report Scope

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

The North America 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 North America 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.