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Intensive Care Unit (ICU) Equipment Market to Reach USD 9.03 Billion by 2027; Surge in Cancer Patients to Amplify Business Deals, states Fortune Business Insights™

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Pune, June 24, 2020 (GLOBE NEWSWIRE) — The global Intensive Care Unit Equipment Market size is predicted to reach USD 9.03 billion by 2027, exhibiting a CAGR of 4.8% during the forecast period. The emergence of novel viruses such as coronavirus will spur demand for life support, patient monitoring, and emergency resuscitation devices, which in turn, will boost the market growth during the forecast period, states Fortune Business Insights in a report, titled “Intensive Care Unit Equipment Market Size, Share and Covid-19 Impact Analysis, By Product (Beds, Ventilators, Pulse Oximeters, Dialysis Equipment, and Others), By Patient (Adult and Pediatric), By Application (Neurology, Cardiology, Respiratory, Renal, Oncology, Trauma, and Others), By End-User (Hospitals, Specialty Clinics, and Others and Regional Forecast, 2020-2027” the market size stood at USD 6.16 billion in 2019.Surge in Chronic Diseases to Augment GrowthThe growing cases of cancer, neurologic disorders, and cardiovascular diseases will fuel demand for the market in the foreseeable future. As per the World Health Organization’s statistics, Cancer is the second leading cause of death globally, and is responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths is due to cancer. Approximately 70% of deaths from cancer occur in low- and middle-income countries.The increasing hospitalization and need for intensive care will have a positive impact on the market. The rising incidence of chronic diseases has led to the utilization of intensive care among patients. As per the Centers for Disease Control and Prevention, approximately 133 million Americans (45% population) have at least one chronic disease. Similarly, the growing number of patient admissions in the ICU will subsequently enable speedy expansion of the market.An Overview of the Impact of COVID-19 on this Market:The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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The occurrence of coronavirus has created a huge demand for beds, ventilators, pulse oximeters, infusion pumps for the treatment of critically ill patients, which, in turn, will augur well for the market. As per the World Health Organization (WHO), in China, 6.1% of the COVID-19 patients became critically ill, out of which 5% required medical ventilation in the intensive care unit.The growing necessity for medical ventilators among positive patients of coronavirus will consequently foster the growth of the market. Hence, the rising patient pool amid COVID-19 will escalate the demand for CCU/ICU equipment, which in turn, will promote the growth of the market.Regional Analysis:Rising Healthcare Expenditure to Propel Growth in North AmericaThe market in North America generated a revenue of USD 2.03 billion in 2019. The growth in the region is attributed to the increasing prevalence of chronic diseases in the U.S. The increasing geriatric population and developed healthcare infrastructure will influence growth in the region. Asia Pacific is predicted to grow rapidly during the forecast period owing to the developing healthcare infrastructure. The increasing patient pool of chronic disorders will further spur opportunities for the market in the forthcoming years. The increasing geriatric population will create lucrative business opportunities for the market in the region.April 2020
Medtronic received USFDA approval for its PB560, ventilator owing to inflated demand during coronavirus outbreak.The Report Lists the Main Companies in the ICU Equipment Market:Koninklijke Philips N.V (Netherlands)GENERAL ELECTRIC COMPANY (United States)Medtronic (Ireland)Edwards Lifesciences Corporation (United States)Fresenius SE & Co. KGaA (Germany)Invacare Corporation. (United States)Medline Industries, Inc (United States)B. Braun Melsungen AG (Germany)Other Players
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Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsPrevalence of Key Indications, By CountryRecent Industry Developments (Mergers, Acquisitions, and Partnerships)Key Industry TrendsRegulatory Scenario by Key CountriesImpact of COVID-19 on ICU Equipment MarketGlobal Intensive Care Unit Equipment Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By ProductBedsVentilatorsPulse OximetersDialysis EquipmentOthersMarket Analysis, Insights and Forecast – By PatientAdultPediatricMarket Analysis, Insights and Forecast – By ApplicationNeurologyCardiologyRespiratoryOncologyTraumaOthersMarket Analysis, Insights and Forecast – By End UserHospitalsSpecialty ClinicsOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificLatin AmericaMiddle East & AfricaTOC Continued….!!!

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Infusion Pump Market Size, Share & Industry Analysis, By Type (Volumetric Pumps, Syringe Pumps, Enteral Pumps, Insulin Pumps, Elastomeric Pumps, Implantable Pumps, and PCA Pumps), By Application (Diabetes, Oncology, Pain Management, and Others), By End User (Hospitals & Clinics, Ambulatory Care Settings, Home Care Settings, and Others), and Regional Forecast, 2019-2026Dialysis Equipment Market Size, Share and Global Trend By Dialysis Equipment Type (Hemodialysis Equipment, Peritoneal Dialysis Equipment), By End User (Dialysis Centers and Hospitals, Home Healthcare) and Geography Forecast till 2026Pulse Oximeters Market Size, Share and Global Trend By Product Type(Fingertip Oximeters, Handheld Oximeters, Tabletop Oximeters) By End User (Hospitals, ASC’s and Clinics, Home Healthcare) and Geography Forecast till 2025
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights™ Pvt. Ltd.
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