The global intensive care unit market is expected to grow by USD 4.58 billion as per Technavio. Despite the impact of the COVID-19 pandemic, the growth for this market is expected to remain steady in the first half of 2020 and throughout the forecast period.
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Technavio has announced its latest market research report titled Global Intensive Care Unit Market 2020-2024
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Market estimates include pre- and post-COVID-19 impact on the intensive care unit market
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As the casualty rate of COVID-19 continues to rise, numerous countries are failing to accommodate the increasing number of patients and deliver the necessary treatment, as existing medical facilities and specialized ICU wards are already overwhelmed. Consequently, several new hospitals, clinics, and healthcare centers are now being constructed in a very short period. The construction of such medical centers is likely to drive the growth of the global ICU market.
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The market is driven by the the rising prevalence of infectious diseases. In addition, the growing need for ICU ventilators is anticipated to boost the growth of the intensive care unit market.
Multi-drug resistance (MDR) among microorganisms and the rise of new bacterial and viral diseases are leading to an increase in the incidence of infectious diseases across the world. The recent global outbreak of coronavirus disease (COVID-19) is one such instance of a viral disease that spread to more than 106 countries in a matter of a few months. Other infectious diseases such as tuberculosis, malaria, and hepatitis are also caused by pathogens such as viruses, bacteria, and parasites. The increasing incidences of such diseases has resulted in the demand for ICU equipment and solutions for the treatment of critical patients. The increasing prevalence of infectious and chronic diseases is hence, likely to drive the growth of the market during the forecast period.
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Major Five Intensive Care Unit Companies:
Baxter International Inc.
Baxter International Inc. has business operations under various geographic segments, such as Americas, EMEA, and APAC. The company offers various intensive care units such as PRISMAX System, PRISMAFLEX System, and others
Becton, Dickinson and Co.
Becton, Dickinson and Co. operates its business through various segments, such as BD medical, BD life sciences, and BD interventional. The company offers intensive care units under the brand, Alaris.
Drägerwerk AG Co. KGaA
Drägerwerk AG Co. KGaA offers medical devices used in perioperative care, critical care, and neonatal care and emergency care. The wide portfolio comprises of products for patient monitoring, therapy, related accessories and consumables. The company offers intensive care units under the brand, Evita and Savina.
General Electric Co.
General Electric Co. has business operations under various segments, such as power, renewable energy, aviation, and healthcare. The company offers ICU management solutions under the brand, Centricity High Acuity Critical Care.
iMDsoft Ltd.
iMDsoft Ltd. offers various hospital management solutions such as hospital-wide EMR, intensive care, anesthesia, and electronic observations. The company offers ICU solutions under the brand, MetaVision.
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Intensive Care Unit Type Outlook (Revenue, USD bn, 2020-2024)
- Hardware
- Software and services
Intensive Care Unit Market Geography Outlook (Revenue, USD bn, 2020-2024)
- North America
- Europe
- APAC
- South America
- MEA
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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