Intensive Care Unit (ICU) Equipment Market Analysis By COVID-19 Impact
Intensive Care Unit (ICU) Equipment Market Analysis By COVID-19 Impact
Report segments information on Global Intensive Care Unit (ICU) Equipment 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.
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Global Intensive Care Unit (ICU) Equipment Key Companies Studied In Report are:
Koninklijke Philips N.V (Amsterdam, Netherlands)
GENERAL ELECTRIC COMPANY (Boston, United States)
Medtronic (Dublin, Ireland)
Edwards Lifesciences Corporation (California, United States)
Fresenius SE & Co. KGaA (Bad Homburg, Germany)
Invacare Corporation. (Ohio, United States)
Medline Industries, Inc (Illinois, United States)
B. Braun Melsungen AG (Melsungen, Germany)
An Overview of the Impact of COVID-19 on Intensive Care Unit (ICU) Equipment Market:
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. The coronavirus incident has caused major damage to all the industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain.
Global Intensive Care Unit (ICU) Equipment Market Analysis 2020:
The global intensive care unit (ICU) equipment market size stood at USD 6.16 billion in 2019 is projected to reach USD 9.03 billion by 2027, exhibiting a CAGR of 4.8% during the forecast period from 2020–2027. The growing geriatric population with rising prevalence of chronic diseases, and emerging health threats such as coronavirus are some of the factors that are contributing in fueling the intensive care unit (ICU) equipment market growth. For instance, in March 2020, Philips announced to ramp up the production of critical healthcare products to help diagnose and treat patients with the new coronavirus disease.
The global Intensive Care Unit (ICU) Equipment market is projected to rise at a considerable pace driven by the increasing investments in product RandD. The efforts put in to develop efficient products will bode well for the growth of the overall market in the coming years. the market will derive growth from the presence of several large scale companies across the world.
The growing number of COVID-19 patients with respiratory failure has led to an unprecedented surge of ventilators, leading to shortage of mechanical ventilators. To mitigate this worldwide shortage, major key players as well as the small scale manufacturers have increased the production of ventilators. For instance, in March 2020, Medtronic increased the production of ventilators by more than 40% due to coronavirus outbreak and to cater to the increase of demands of the patients and healthcare systems.
The recent coronavirus outbreak has brought major businesses to a standstill. Due to travel bans, companies in this sector are likely to take a huge hit in the coming years. Ultimately, the rapid spread of the disease has urged governments to take strict measures. The report includes the impact on Covid-19 pandemic on the global Intensive Care Unit (ICU) Equipment market and discusses how major companies are coping with this.
The report offers informative insights into all the prevailing trends of the Intensive Care Unit (ICU) Equipment market size. It shares a comprehensive summary of all the segments and regions. It provides statistical data on all the recent developments in the market. Intensive Care Unit (ICU) Equipment market report is created after extensive research followed by all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. It is designed with an aim to provide a clear picture of the market size. Moreover, it also includes product launches, acquisitions, collaborations and partnerships, and innovations and industry developments.
Despite the growing geriatric population and chronic disease burden, certain factors are restraining the growth of the market. Among them is the high price of the critical care equipment. Higher costs of the equipment result in a higher cost per patient admission in ICU. For instance, according to the economic analysis, the cost per patient admission in ICU range from about US$1,783 to US$78,435. Hence, the overall treatment cost in ICU is an out-of-pocket cost in the emerging countries which limits the market growth.
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. The report encompasses several factors that have contributed to the growth of the overall market in recent years. It highlights primary strategies adopted by major companies and discusses how these companies are coping with the challenges they face in the global market. The report also highlights the major companies that have stood out in recent years and gauges their impact on market growth.
The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market. Furthermore, the report offers a detailed analysis and information as per Intensive Care Unit (ICU) Equipment Market Analysis by manufacturers, market segments helping our readers to get a comprehensive overview of the global market. Several players are planning to focus on developing cost-effective products or services, aiming to maintain a strong foothold in the market.
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