NEW YORK, May 24, 2016 /PRNewswire/ -- The critical care devices market is expected to reach USD 2.61 billion by 2021, at a CAGR of 8.0% from 2016 to 2021.
The growth of the overall critical care devices market is driven by factors such as technological advancements in critical care products, rising use of home use and remote monitoring devices, and growing patient population base in the emerging regions. In addition, increasing medical tourism in various countries across Asia are offering new growth opportunities for players in the critical care devices market. On the other hand, high cost of these devices and lack of regulatory policies are the key challenges faced by the market players.
In this report, the critical care devices market has been segmented on the basis of product (covering patient monitors, ventilators, and infusion pumps) and region (Asia and Middle East & North Africa). The patient monitors segment is estimated to account for the largest share of the critical care devices market in 2016. The opening of new multispeciality hospitals and improving healthcare infrastructure in tier II and III cities is driving the growth of this segment in emerging nations.
Geographically, Asia (excluding India) is expected to command the largest share of the critical care devices market in 2016, followed by Middle East and North Africa. A number of factors such as rising demand for low-cost critical care devices offered by Chinese manufacturers, growing focus of players on the Asian patient monitors market, rising geriatric population, increasing incidence and prevalence of chronic and respiratory diseases, and availability of the universal healthcare reimbursement policy in Japan are contributing to the growth of the Asian critical care devices market.
The critical care devices market consists of a large number of big, medium, and small-sized companies. As of 2015, the Indian patient monitors, ventilators, and infusion pumps market was dominated by Koninklijke Philips N.V. (Netherlands), Drägerwerk AG & Co. KGaA (Germany), and B. Braun Melsungen AG (Germany), respectively. New product launches and product approvals; partnerships, agreements, and collaborations; acquisitions; and geographic expansions were the major strategies adopted by most of the market players between 2013 and 2015 to achieve growth in the critical care devices market.
Reasons to Buy the Report:
From an insight perspective, this research report focuses on various levels of analysis—market share analysis of top players and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the critical care devices market in emerging nations; and high-growth regions and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market penetration, product development/innovation, market development, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on critical care devices offered by the top 15 players in the critical care devices market. The report analyzes the critical care devices market by product and region
- Product Development/Innovation: Detailed insights on current and upcoming technologies, research and development activities, product enhancements, and new product launches in the critical care devices market
- Market Development: Comprehensive information about lucrative product segments of the emerging markets. The report analyzes the critical care devices market on the basis of products, across Asia and Middle East & North Africa (MENA) regions
- Competitive Assessment: Assessment of market shares, strategies, and products of leading players in the critical care devices market
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