(PharmaNewsWire.Com, July 02, 2021 ) A combination of bottom-up and top-down approaches was used to calculate the Asia and North Africa Critical Care Equipment Market and its sub-segments. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Expected Revenue Surge in Asia and North Africa Critical Care Equipment Market:
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.
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 Asia and North Africa 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 multi-parameter 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.
The critical care devices market report covers an in depth analysis of the Indian market and an overview of the Asian and Middle East & North African market.
A number of factors such as technological advancements, rising development of home use and remote patient monitoring devices, huge patient base in India, increasing number of pre-term births, rising prevalence of respiratory and chronic diseases, growing number of ICU patients and surgical procedures, and growing government initiatives for promoting indigenous manufacturing of medical products are fueling the demand for critical care devices in emerging nations.
Asia is estimated to hold the largest share of the critical care devices market, followed by Middle East and North Africa. The Indian critical care devices market is expected to grow at the highest CAGR from 2016 to 2021. Presence of a large geriatric population, increasing prevalence of chronic and respiratory diseases, improving healthcare infrastructure in rural areas, and increasing number of super-specialty hospitals in India are propelling the growth of the Indian critical care devices 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), B. Braun Melsungen AG (Germany), and Fresenius Kabi (Germany) are some of the key players operating in the Asia and North Africa Critical Care Equipment Market.
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