Intensive Care Unit (ICU) Equipment Market

Intensive Care Unit (ICU) Equipment Market

Growth Factors of Intensive Care Unit Equipment Market

The intensive care unit equipment market size was valued at USD 6.84 billion in 2022, and the market is now projected to grow from USD 6.98 billion in 2023 to USD 9.13 billion by 2030, exhibiting a CAGR of 3.9% during the forecast period of 2023-2030.

The COVID-19 pandemic led to the utilization of more medical equipment including beds and ventilators that formed the intensive care unit equipment market growth. The healthcare system was developed considerably over the years, mainly in the regions that needed more attention, such as Lombardy. After the reduction during the pandemic, the demand is starting to level out, while future advancements and a significantly increasing population of geriatric patients will remain the driving forces of further market growth, particularly in emergent markets.

An increased incidence of chronic diseases including cardiovascular and respiratory diseases is also putting pressure on the number of ICU admissions in hospitals and thus fueling the intensive care unit equipment market share. Lifestyle changes, obesity and smoking are making respiratory diseases worse resulting in increasing demands for ICU. With the increasing incidence of chronic disease worldwide, the need for ICU equipment will also increase and, boost the overall market, particularly in developed and developing nations.

Furthermore, new technologies include artificial intelligence, such as ventilators or wireless smart beds with real-time control with automatic functions in ICUs. These innovations advance care and productivity in situations that require critical care. Moreover, the high demand for advanced technologies to incorporate in ICU equipment positively impacts the market during the forecast period.

Comprehensive Analysis of Intensive Care Unit Equipment Market

The intensive care unit equipment market and the healthcare industry are experiencing tremendous growth due to its segmentation. This market expansion essentially affords a detailed regional outlook given the supply side and demand side forces that shape the healthcare market. These segmentations are methodically segregated by products, by patients, by applications and by end user. The products include, Beds, Ventilators, Pulse Oximeters, Dialysis Equipment and Others. The patient includes, Adult and Pediatric. The application include, Neurology, Cardiology, Respiratory, Oncology, Trauma and Others. The end user includes, Hospitals, Specialty Clinics and Others.

North America became the biggest market with 36.69% in the year 2022 owing to aspects such as the increasing prevalence of diseases in the region and the growing population of geriatrics. Additional factors that boosted its expansion are increased ICU requirements because of COVID-19 and developed healthcare systems in the area. An increase in the demand for ventilators and other ICU equipment was observed, so U.S. manufacturers increased production of these devices.

The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, General Electric Company (U.S.), Koninklijke Philips N.V. (Netherlands), Getinge AB (Sweden), Medtronic (Ireland), Fresenius SE & Co. KGaA (Germany), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), HILL-ROM HOLDINGS, INC. (U.S.), Medline Industries, Inc. (U.S.), B. Braun Melsungen AG (Germany), Edwards Lifesciences Corporation (U.S.) and Invacare Corporation (U.S.). These market players provide a level-playing competitive landscape.

In March 2023, SAMRIDH Healthcare offered funding support to Critical Care Hope to set up tele-ICUs across the country with the vision of providing critical care at a distance.

Segmentation Table

Global Intensive Care Unit Equipment Market Scope

Study Period 2019-2030

Base Year 2022

Forecast Period 2023-2030

Growth Rate CAGR of 3.9% from 2023 to 2030

Historical Period 2019-2021

Unit Value (USD Billion)

Segmentation By Product, Patient, Application, End User, and Region

By Product Beds

Ventilators

Pulse Oximeters

Dialysis Equipment

Others

By Patient Adult

Pediatric

By Application Neurology

Cardiology

Respiratory

Oncology

Trauma

Others

By End User Hospitals

Specialty Clinics

Others

By Region North America (By Product, By Patient, By Application, By End User, and By country)

• U.S. (By Product)
• Canada (By Product)

Europe (By Product, By Patient, By Application, By End User, and By Country/Sub-region)

• The U.K. (By Product)
• Germany (By Product)
• France (By Product)
• Italy (By Product)
• Spain (By Product)
• Scandinavia (By Product)
• Rest of Europe (By Product)

Asia Pacific (By Product, By Patient, By Application, By End User, and By Country/Sub-region)

• China (By Product)
• Japan (By Product)
• India (By Product)
• Australia (By Product)
• Southeast Asia (By Product)
• Rest of Asia Pacific (By Product)

Latin America (By Product, By Patient, By Application, By End User, and By Country/Sub-region)

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa (By Product, By Patient, By Application, By End User, and By Country/Sub-region)

• GCC
• South Africa
• Rest of the Middle East & Africa