COVID-19 Impact on Critical Care Device Market – Global Industry Segments and Recent Developments

PUNE, India, 2021-May-07 — /EPR Network/ —

The report “COVID-19 Impact on Critical Care Device Market by Device (High-Impact Products (Ventilators, Patient Monitors, Infusion Pumps, Hyperbaric Oxygen Therapy Devices and Sleep Apnea Devices) and Low-Impact Products (Anesthesia Machines, Defibrillators and Blood Warmers)) and Region – Global Forecast“, the global critical care devices market size is expected to reach USD 27.29 billion by 2021, expected to witness a growth of 44.1%

Recent Developments in Critical Care Device Market;

• On 29th April 2020, Medtronic has ramped up the production of its high-performance ventilators by more than 40%. In addition, the company is working with third-parties to explore other non-traditional mechanisms to increase the production of ventilators, including providing its intellectual property and ventilator designs to the public for third-party ventilator production
• Getinge has seen an increased global demand for advanced ventilators, extracorporeal life support (ECLS) equipment, and advanced monitoring for intensive care units since the outbreak of the COVID-19 pandemic. To meet the global demand, Getinge will temporarily increase its production of advanced ICU-ventilators by 160% in 2020, to 26,000 ventilators in total. In 2019, Getinge produced approximately 10,000 advanced ICU-ventilators at its production site in Solna, Sweden.
• Medtronic’s ventilator portfolio primarily includes the PB980, PB840, PB560, and HT70 models. Medtronic ships more than 300 ventilators per week to customers in the highest risk, highest need locations in the world. By the end of April, Medtronic expects to manufacture more than 400 ventilators per week. By the end of May, the company is planning to manufacture more than 700 ventilators per week, and it is targeting more than 1,000 ventilators per week by the end of June, representing an approximately five-fold increase in production versus pre-pandemic levels. This production ramp-up is expected to generate over 25,000 ventilators across all platforms over the next six months.

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COVID-19 Impact on Critical Care Device Market Segmentation in Detailed:

Based on products, the critical care devices market is segmented into ventilators & supplies, sleep apnea devices, patient monitors, hyperbaric oxygen therapy devices, infusion pumps, defibrillators, anesthesia machines, blood warmers, and other critical care devices supplies. The ventilators segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to its use in managing critically ill patients, given the fact that the coronavirus attacks the respiratory system.

Based on the end-users, the market is segmented into hospitals & clinics, ambulatory care settings, emergency medical services, and home care settings. The hospitals & clinics segment is expected to grow at the highest CAGR owing to the increasing number of ICU beds and the growing number of field & make-shift hospitals to treat and manage the COVID-19 patients.

Geographical View in-detailed:

North America accounted for the largest share of the critical care devices industry in 2019, followed by Europe. The large share of this region is attributed mainly to a high number of positive COVID-19 cases and deaths in the US, a robust healthcare system, and the presence of many large hospitals in the region. Moreover, a large number of major global players are based in the US, owing to which the country can easily manufacture these devices.

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Global Key Leaders:

The prominent players in the global COVID-19 Impact on Critical Care Device Market are Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), Baxter International Inc. (US), Fresenius Kabi (Germany), Medtronic plc (Ireland), Moog Inc. (US), Smiths Medical (US), and Philips Healthcare (Netherlands), among others

Becton, Dickinson and Company (US) was the leading player in the infusion pumps segment and accounted for the largest share in 2019. BD is known for its diversified product offerings in the field of infusion pumps. The company’s comprehensive product portfolio includes volumetric pumps, syringe pumps, ambulatory pumps, enteral pumps, and PCA pumps, under its market-leading brand—Alaris. The company also provides dedicated disposables for its infusion products. Over the years, the company has maintained its leading position in the market through continuous innovation and the launch of advanced products. BD continuously focuses on product offerings by enabling its infusion products to be ready for data integration with other allied products. In addition to this, BD focuses on expanding its product portfolio and geographic presence by mergers and acquisitions. In line with this, in April 2017, BD acquired Caesarea Medical Electronics (Israel).