The critical care equipment market was valued at US$ 21,682. 65 million in 2019 and is projected to reach US$ 47,171. 42 million by 2027; it is expected to grow at a CAGR of 9. 5% during 2020–2027.
New York, Oct. 21, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Critical Care Equipment Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Product, Application, and End User and Geography” – https://www.reportlinker.com/p05978065/?utm_source=GNW
The growth of the market is mainly attributed to factors such growing research in biotechnology sector and increasing product launches. However, the disruption of supply chain and logistics due to the rapid spread of COVID-19 is among the factors hindering the growth of the market.
In the last few months, it has become clear that COVID-19 is a threat to global health.. The virus primarily attacks the healthy cells located in the lungs, resulting in respiratory problems. The virus reduces the oxygen-carrying capacity of hemoglobin present in the blood and encounters breathing problems; in the most severe cases, a ventilator is used to push air, with increased oxygen levels, into the lungs.
The normal saturation level shows 95% oxygen level in the body, and the oxygen level can drop up to 50–60% in some of the COVID-19 patients.In such situation, there would be reduction in oxygen supply to different organs of the body, which leads to organ failures.
Ventilators are life-support machines, though they would not cure an illness, but can keep patients alive while suffering from an infection.Oxygen therapy in cases of severe COVID-19 saves the lives of patients.
According to an article published in the American Journal of Tropical Medicine and Hygiene, in June 2020, physicians could reduce more than 50% death rate among COVID-19 patients by using ventilators.
Based on product, the global critical care equipment market is segmented into patient monitor systems, ventilators, infusion pumps, and others.The patient monitor systems segment held a larger share of the market in 2019.
The ventilators segment is expected to grow at a higher CAGR during the forecast period.Based on application, the market is segmented into cardiology, pulmonology, neurology, orthopedic, and others.
The cardiology segment held a larger share of the market in 2019, and the pulmonology segment is expected to register a higher CAGR during the forecast period.Based on end user, the global critical care equipment market is segmented into hospitals, ambulatory care centers, home care, and others.
The hospitals segment held a larger share of the market in 2019, and it is further expected to report a higher CAGR in the market during the forecast period.
The Food Safety and Inspection Service, Food and Drug Administration, National Institute of Health, International Civil Aviation Organization, and European Medical Association are a few of the major secondary sources referred to while preparing this report.
Read the full report: https://www.reportlinker.com/p05978065/?utm_source=GNW
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