The Indian critical care devices market is expected to grow at the highest CAGR
(Arab Newswire) According to the new market research report “Asia and North Africa Critical Care Equipment Market by Product (Infusion Pumps, Ventilators, & Patient Monitors) – Competitive Analysis & Forecast” published by MarketsandMarkets™.
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.
Asia and the Middle East and North Africa (MENA) region offer high-growth potential for companies engaged in the development and marketing of critical care devices to hospitals and clinics. Growing geriatric population, increasing cases of chronic and respiratory diseases, growing number of local manufacturers, and increasing number of super-speciality hospitals are the key factors propelling the growth of the north africa critical care equipment market in the emerging countries.
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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.
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Geographically, the global market is classified into Asia (excluding India), India, and the Middle East and North Africa. 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
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), BPL Medical Technologies Ltd (India), B. Braun Melsungen AG (Germany), Akas Medical (India), Smiths Medical (U.S.), Nihon Kohden Corporation (Japan), and Fresenius Kabi (Germany) are some of the key players operating in the Indian critical care equipment market.
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