What is Critical Care Services Market?
Critical care systems helps the patients who are facing the life threatening situations. It takes care of organ systems and hence improves the health conditions.There is a team of health care professionals who handles the critical care systems which are equipped and designed to monitor and treat the conditions. Additionally, the patients at risk of organ failure like lungs, heart and kidneys are taken care with this services. The critical care units includes Intensive care units, High dependency units, and critical care outreach and post intensive care service. According to National Center for Biotechnology Information and U.S. National Library of Medicine, United States has the highest ICU beds per 100,000 people that is 20-31.7 and spends USD 7,164 per capita. United States is followed by Canada with 13.5 ICU beds per 100,000 people and spends USD 3,867 per capita.
The market study is being classified, by Application (Intensive Care Units, Neonatal Intensive Care Units, Pediatric Intensive Care Units and Coronary Care Units) and major geographies with country level break-up.
Thermo Fisher Scientific (United States), Merck (United States), BioMed Central (United Kingdom), CSL Behring (United States), Shire (United States), Grifols (Spain), Kedrion Biopharma (Spain), Octapharma (Switzerland), Bayer HealthCare (Germany) and Mitsubishi Tanabe Pharma (Japan) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Rockwell Medical (United States), Shanghai RAAS (China), China Biologic Products (China), Cosmo Pharmaceuticals (Italy), King Pharmaceuticals (United States) and REVO Biologics (United States).
The global Critical care service market is concentrated as it consists of major players. In terms of market share, the major players are currently dominating. However, some of the companies are increasing the market presence by securing new contracts and tapping new markets. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Critical Care Services market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Critical Care Services market by Type, Application and Region.
On the basis of geography, the market of Critical Care Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing geriatric population and emergence of new diseases are fueling the market. The new diseases are emerging such as COVID 19 and the patients with these diseases require hospitalizations and critical care services as well. With the increasing number of infected patients, number of hospitalizations is increasing which is having positive impact on the market.
Market Trend
- Increased Development of Recombinant Products for Critical Care Use.
- Technological Advancements in Critical Care Systems
Restraints
- High Costs Associated with the equipment and treatment of disease as well
Opportunities
- Heavy Investments in Healthcare Facilities Providing Modern Medical Treatments
- Increasing Number of Multi-Speciality Hospitals is creating an Opportunity
- Presence of Cheaper Equipment of Critical Care Systems
Challenges
- Lack of Trained Staff can Hamper the Growth of Market
Market Leaders and some development strategies
In 2019, Cornerstone has acquired Southland home health and launched Joint Venture with Lake Charles memorial health systems to expand its capabilities to home health.
On 28th January 2020, Drager has launched new ventilators which are new Evita V600 and V800 ventilators. These are designed to support daily clinical tasks in ICU. Its menu access to both settings and clinical data provides quick and safe operation in stressful situation. This will bring difference in efficiency during critical care services. and On 21st February 2018, Philips has launched healthcare home services in Chennai with ICU home. This service will provide Intensive care unit equipment and high quality medical care at home for patients.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations