The critical care equipment for asia and north africa market is expected to reach $2.61 billion, at a CAGR of 8.0% during the forecast period.
Major Market Growth Drivers;
- High Replacement Rates - Increased Private Sector Investments and Expansions - Development of Multi-Parameter Monitors - Huge Patient Base in India - Increasing Number of Preterm Births
Growth Opportunities;
- Development of Patient Monitors With Wireless and Sensor Technology - Rising Development of Home-Use and Remote Patient Monitoring Devices - Growing Demand for Home Care Ventilators
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.
The infusion pumps market, on the other hand, is driven by factors such as rising geriatric and obese population resulting in the growing prevalence of chronic diseases in India, increasing number of hospital beds, and introduction of smart infusion pumps which are propelling the growth of the infusion pumps market in emerging nations. However, high cost of infusion pumps and rising adoption of refurbished infusion pumps are the key factors restraining the growth of this north africa critical care equipment market.
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.
The Indian market is expected to grow at the highest CAGR. Factors such as growing government support, increasing private sector investment, rising geriatric population, growing incidence and prevalence of respiratory and chronic diseases, and developing healthcare infrastructure are propelling the growth of the Indian 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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