We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies. Cookie Policy.

Features Partner Sites Information LinkXpress hp
Sign In
Advertise with Us

Download Mobile App




Global Intensive Care Unit (ICU) Equipment Market Driven By Increasing Neurological Diseases

By HospiMedica International staff writers
Posted on 20 Jan 2023
Print article
The global ICU equipment market is expected to reach USD 9.6 billion by 2031 (Photo courtesy of Pexels)
The global ICU equipment market is expected to reach USD 9.6 billion by 2031 (Photo courtesy of Pexels)

The global intensive care unit (ICU) equipment market was valued at USD 6.6 billion in 2021 and is estimated to register a CAGR of 3.9% from 2022 to 2031 to reach USD 9.6 billion by 2031, driven primarily by a rise in the prevalence of neurological diseases. While certain stringent regulations could hamper market growth to an extent, the launch of various products by the key players is expected to create lucrative opportunities for the industry.

These are the latest findings of Allied Market Research (Portland, OR, USA), a full-service market research and business-consulting firm.

The COVID-19 pandemic had heightened the demand for various medical services, including ICUs as the SARS-COV-2 virus attacks the respiratory system. Based on product, the beds segment held the highest share of the ICU equipment market in 2021, accounting for more than one-fourth of revenues, and is expected to maintain its dominant position until 2031. This can be attributed to a rise in various chronic diseases and increase in the number of fatal accidents & sports injuries among individuals. However, the ventilators segment is expected to register the fastest CAGR of 4.9% during the forecast period due to a rise in respiratory diseases globally coupled with a surge in the geriatric population.

By application, the respiratory segment held the highest share of the ICU equipment market in 2021, accounting for more than one-fourth of revenues, and is expected to register the fastest CAGR of 4.6% during the forecast period. This can be attributed to a rise in the number of patient admissions for pulmonary diseases in the ICU and high adoption of pulse oximeters and ventilators across the world. Based on end-user, the hospitals segment held the highest share of the ICU equipment market in 2021, accounting for more than one-fourth of revenues, and is expected to register the fastest CAGR of 4.1% during the forecast period. This can be attributed to a surge in patient admissions, increase in the number of ICUs, and the availability of advanced ICU equipment and well-trained nursing staff.

By region, North America held the highest share of the global ICU equipment market in 2021, garnering more than two-fifths of revenues, mainly due to the presence of several major players and advancements in the manufacturing technology of ICU equipment in the region. However, the ICU equipment market in Asia-Pacific is expected to register the fastest CAGR of 5.2% during the forecast period, driven by a surge in the geriatric population that is more prone to diseases and requires critical care, rise in healthcare expenditure, and unmet medical demand in the developing countries such as China and India.

Gold Member
POC Blood Gas Analyzer
Stat Profile Prime Plus
Gold Member
STI Test
Vivalytic Sexually Transmitted Infection (STI) Array
New
Bariatric Flip Seat Scale
Detecto 6868
New
Oxygen Concentrator
Nuvo 8

Print article

Channels

Critical Care

view channel
Image: Tissue plasminogen activator working to dissolving brain clot and improving blood flow to the part of the brain being deprived (Photo courtesy of American Heart Association)

Injecting Clot-Dissolving Drug After Removing Large Brain Artery Clot Improves Stroke Outcomes

Approximately 1 in 5 ischemic strokes, which are caused by a clot, occur due to a blockage in a large artery in the brain (large vessel occlusions). The standard treatment for this type of stroke is the... Read more

Surgical Techniques

view channel
Image: The KeyScope low-cost laparoscope enables high resolution surgical imaging (Photo courtesy of Barnes et al., doi 10.1117/1.BIOS.2.2.022302)

Low-Cost, Robust Laparoscope Addresses Cost, Power and Sterilization Challenges

Laparoscopic surgery, a minimally invasive technique, has revolutionized surgical practices in high-income countries. This method involves using a laparoscope to perform operations through small incisions,... Read more

Patient Care

view channel
Image: The portable biosensor platform uses printed electrochemical sensors for the rapid, selective detection of Staphylococcus aureus (Photo courtesy of AIMPLAS)

Portable Biosensor Platform to Reduce Hospital-Acquired Infections

Approximately 4 million patients in the European Union acquire healthcare-associated infections (HAIs) or nosocomial infections each year, with around 37,000 deaths directly resulting from these infections,... Read more
Copyright © 2000-2025 Globetech Media. All rights reserved.