Asia Critical Care Equipment Market – Growth Factors Analysis, Share and Forecast
According MarketsandMarkets™ Research – The report “Asia and North Africa Critical Care Equipment Market by Product (Infusion Pumps, Ventilators, & Patient Monitors) – Competitive Analysis & Forecast”, analyzes and studies the major market drivers, restraints, opportunities, and challenges in the emerging nations.
The Continuous technological advancements in critical care devices, increasing government support, growing private sector investments in the healthcare industry, and increasing patient population base are key factors fuelling the growth of the north africa critical care equipment market in the emerging nations. High replacement rate of critical care devices, growing medical tourism in Asia, and development of multiparameter monitors are some other prime factors offering growth opportunities for players in the critical care equipment market. However, high cost of these devices is restraining the growth of this market.
The critical care equipment for asia & north africa market is expected to reach $2.61 billion, at a CAGR of 8.0% during the forecast period.
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Market Segmentation in Detailed:
On the basis of products, the asia critical care equipment market is divided into three segments, namely, patient monitors, ventilators, and infusion pumps. The patient monitors segment is expected to grow at the highest CAGR in the next five years, owing to the increasing patient population base and the high adoption of advanced patient monitoring devices by big hospitals and clinics in the emerging nations.
The patient monitors segment holds the largest share of the asia critical care equipment market in emerging nations. The increased private sector investments and expansions, premium cost of devices, high replacement rates, and development of multiparameter monitors are the key factors contributing to the growth of this market segment. Moreover, development of patient monitors with wireless and sensor technology and rising adoption of home-use and remote patient monitoring devices are other factors contributing to the growth of the patient monitors market in emerging nations.
The ventilators market segment is further categorized on the basis of products into adult ventilators and neonatal/infant ventilators. Increasing geriatric population, rising number of ICU patients in India, growing use of home care ventilation devices, and increasing prevalence of respiratory devices are key factors driving the market for adult ventilators in the emerging nations. Whereas, increasing incidence of pre-term births in emerging nations is a key factor driving the adoption of neonatal ventilators in these regions. However, shortage of ICU beds and high adoption of refurbished products are shrinking the revenue growth of this market.
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Geographically, the global Asia and North Africa Critical Care Equipment Market is classified into Asia (excluding India), India, and the Middle East and North Africa. In 2016, the critical care equipment market is estimated to be dominated by Asia. Rising demand for remote patient monitoring, high adoption rate of technologically advanced critical care devices, and increasing patient population base are contributing to the large share of the Asian critical care equipment market. The Indian market is expected to grow at the highest CAGR.
Koninklijke Philips N.V. (Netherlands), General Electric Company (U.S.), Medtronic plc (U.S.), Drägerwerk AG & Co. KGaA (Germany), Skanray Technologies Pvt. Ltd (India), Maquet Holding B.V. & Co. KG. (Germany), B. Braun Melsungen AG (Germany), and Fresenius Kabi (Germany) are some of the key players operating in the critical care devices market.