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Intensive Care Unit (ICU) Equipment Market Size, Share and Covid-19 Impact Analysis, By Product (Beds, Ventilators, Pulse Oximeters, Dialysis Equipment, and Others), By Patient (Adult and Pediatric), By Application (Neurology, Cardiology, Respiratory, Renal, Oncology, Trauma, and Others), By End-User (Hospitals, Specialty Clinics, and Others) and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI103058



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The global intensive care unit (ICU) equipment market size stood at USD 6.16 billion in 2019 is projected to reach USD 9.03 billion by 2027, exhibiting a CAGR of 4.8% during the forecast period from 2020–2027.

The growing geriatric population with rising prevalence of chronic diseases, and emerging health threats such as coronavirus are some of the factors that are contributing in fueling the intensive care unit (ICU) equipment market growth. For instance, in March 2020, Philips announced to ramp up the production of critical healthcare products to help diagnose and treat patients with the new coronavirus disease. They announced to double the production of hospital ventilators and achieve four-fold increase by the third quarter of 2020. Intensive care unit is one of the most critically functioning operational environments in a hospital. It provides the critical care, and life support for acutely ill and injured patients. ICU equipment includes life support, real-time patient monitoring, and emergency resuscitation devices; and diagnostic devices.

Management of ICU to Surge during COVID-19 Crisis

The COVID-19 pandemic revealed the vulnerability of the healthcare systems and how rapidly they have overloaded in excess of the available ICU bed and ventilator capacity. Countries globally have done an early estimation of the proportion of the existing hospital or ICU capacity that needs to be liberated. This is necessary for the planning of a partial reduction or complete cancellation of non-emergency services and surgery, and non-urgent admissions.

The growing number of COVID-19 patients with respiratory failure has led to an unprecedented surge of ventilators, leading to shortage of mechanical ventilators. To mitigate this worldwide shortage, major key players as well as the small scale manufacturers have increased the production of ventilators. For instance, in March 2020, Medtronic increased the production of ventilators by more than 40% due to coronavirus outbreak and to cater to the increase of demands of the patients and healthcare systems.

Therefore, the COVID-19 pandemic has positively impacted the intensive care equipment (ICU) market. The global market is projected to grow by 5.4% in 2020 due to the outbreak as compared to 4.2% without the outbreak.


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Growing Number of Ventilator Manufacturers to Aid Growth

The growing number of critically ill patients due to the coronavirus pandemic is fueling the demand for ventilators by a huge margin. Hence, the rising number of patients is highlighting the need to improve the capacity of ventilators and other respiratory aids in hospitals. To meet the unprecedented surge in demand, a various number of market players are joining the race of production of ventilators. Along with this, the leading market players in ventilators are ramping up their production capacity by two to three times due to the rising demand. For instance, on March 30, Ford Motor and General Electric’s health care division announced to produce 50,000 ventilators together to help meet the need of hospitals during the coronavirus pandemic.


Growing Prevalence of Chronic Diseases to Spur Market Growth

Chronic diseases such as cardiovascular diseases, cancer, neurologic disorders, and respiratory disorders are among the most prevalent health conditions, globally. They require ongoing monitoring or treatment, leading to long-term hospitalization and intensive care. Advances in intensive care have enabled the patients to survive these chronic diseases. Hence, the growing prevalence of chronic diseases has simultaneously led to an increasing number of patient admissions in the ICU which is likely to drive the market growth. For instance, according to the Centers for Disease Control and Prevention, approximately 133 million Americans (45% population) have at least one chronic disease.

Emerging COVID-19 Pandemic to Drive the Demand the Market

The, coronavirus pandemic is leading to a surge in demand for ICU equipment such as beds, ventilators, pulse oximeters, infusion pumps for the treatment of critically ill patients.  For critically-ill COVID-19 patients, ventilation is their main supportive treatment. For instance, according to the World Health Organization (WHO), in China, 6.1% of the COVID-19 patients became critically ill, out of which 5% required medical ventilation in the intensive care unit. Also, according to a study conducted in the US, at the peak of the pandemic, ventilator use is predicted to be rise from 9,767 to 39,674. Thus, the coronavirus pandemic is contributing to the escalated demand of the ICU/CCU equipment and hence driving the market growth during the forecast period.


High Cost Associated with the Equipment to Limit Market Growth

Despite the growing geriatric population and chronic disease burden, certain factors are restraining the growth of the market. Among them is the high price of the critical care equipment. Higher costs of the equipment result in a higher cost per patient admission in ICU. For instance, according to the economic analysis, the cost per patient admission in ICU range from about US$1,783 to US$78,435. Hence, the overall treatment cost in ICU is an out-of-pocket cost in the emerging countries which limits the market growth.


By Product Analysis

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Beds Segment to Register Remarkable Growth

In terms of product, the market has been segmented into beds, ventilators, pulse oximeters, dialysis equipment, and others. Among them, the beds segment is anticipated to dominate the market. With respect to the rising prevalence of chronic disorders, ICU admissions are on the surge. For various health conditions, the care of patients outside an ICU would be unthinkable for a modern clinician. Beds segment register the highest revenue during the forecast period owing to their highest costs among all other critical care equipment. The ventilators segment is projected to expand at the highest growth rate owing to the increasing prevalence of respiratory disorders and

On the other hand, the other segment includes infusion pumps, catheters, resuscitation bag, defibrillators, etc. which is likely to account for the second-largest market share during the forecast period owing to high consumption volume.

By Patient Analysis

Adult Segment to Dominate Throughout the Forecast Period

In terms of patient, the market has been segmented into adult and pediatric. Among them, the adult segment is expected to dominate the market. More than 5 million patients are admitted annually in ICUs in the US for intensive monitoring, stabilization of acute or life-threatening health conditions, and maximization of comfort for dying patients. The growing geriatric population with chronic disorders is responsible for the dominance of this segment during the forecast period.

On the other hand, the pediatric segment is likely to grow at the highest growth rate owing to the rising number of premature babies’ admissions in ICU for intensive care and rising chronic diseases among the children

By Application Analysis

Cardiology Segment to Account for the Maximum Share

Based on the application, the market is segmented into neurology, cardiology, respiratory, renal, oncology, trauma, and others. The cardiology segment dominated the market in 2019. The dominance is attributed to the growing number of patients with myocardial infarction, cardiac arrest, ischemic heart disease, and other heart diseases requiring intensive care.  According to the Centers for Disease Control and Prevention, approximately 30.3 million people in the U.S. were suffering from heart disease in 2017

Respiratory is the second major application of intensive care equipment market. The growing prevalence of respiratory disorders and the current COVID-19 pandemic requiring critical care in the hospitals is expected to fuel the market growth of this segment during the forecast period. For instance, in April 2020, the Ministry of Health and Welfare announced that around 20 domestic manufacturers in India have started production of ventilators to meet the excess demand for the ventilators due to the pandemic.

By End-user Analysis

Higher Adoption of ICU equipment in Hospitals to Enable Dominance of the Segment

Based on end-user, the market is segmented into hospitals, specialty clinics, and others. Among them, the hospitals segments accounted for the largest share during the forecast period owing to procuring the power of hospitals for all the expensive ICU equipment and larger patient pool visiting these facilities as compared to specialty clinics.

On the other hand, specialty clinics account for the second-largest market share owing to the rising number of admissions of patients suffering from cardiovascular disorders, respiratory disorders in specialty clinics requiring critical care and monitoring.


North America Intensive Care Unit (ICU) Equipment Market Size, 2019 (USD Billion)

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North America dominated the ICU equipment market with a revenue generation of USD 2.03 billion in the year 2019. This dominance was attributable to factors such as the high prevalence of chronic diseases in the U.S., rising geriatric population, and the highest spending on healthcare infrastructure. For instance, according to a research study by U.S. Census Bureau, in 2050, the population aged 65 and over is projected to be 83.7 million, double its estimated geriatric population of 43.1 million in 2012. Developed countries in Europe such as Germany, UK, and France are anticipated to drive the critical care equipment market growth of this region. The growing geriatric population along with growing awareness among the patient population is majorly responsible for market expansion in the region. Increasing concern about COVID pandemic and superfast expansion of ICU capacity by these countries has added a stimulus for growth.

On the other hand, Asia Pacific is projected to witness the highest growth rate in terms of the critical care equipment market. Developing healthcare infrastructure along with the increasing patient pool of chronic disorders are likely to augment the market growth in the region. Latin America and the Middle East & Africa are expected to reflect a slower-to-moderate growth in the ICU market in the upcoming years.


Leading Players Continue to Maintain Strong Foothold Owing to Introducing New Products in Market.

Leading players in the ICU equipment market include Koninklijke Philips N.V., GENERAL ELECTRIC COMPANY, B. Braun Melsungen AG, and Medtronic. Numerous new product launches and expansion of their product portfolio through organic as well as inorganic growth, and increasing research and development in this segment are major imperatives adopted by these market players to maintain their strategic position in the market. Additionally, a strong emphasis on acquisitions & partnerships to expand their critical care segment is likely to help register faster growth in the Intensive Care Unit (ICU) Equipment Market. For instance, in March 2020, Ford collaborated with 3M and GE Healthcare with an aim to speed up the production of ventilators for people amid the coronavirus pandemic.


  • Koninklijke Philips N.V (Amsterdam, Netherlands)

  • GENERAL ELECTRIC COMPANY (Boston, United States)

  • Medtronic (Dublin, Ireland)

  • Edwards Lifesciences Corporation (California, United States)

  • Fresenius SE & Co. KGaA (Bad Homburg, Germany)

  • Invacare Corporation. (Ohio, United States)

  • Medline Industries, Inc (Illinois, United States)

  • B. Braun Melsungen AG (Melsungen, Germany)

  • GE Healthcare

  • Banner Health

  • Other Players


  • July 2019 Ivenix, Inc., a medical device company received USFDA approval for a new smart infusion pump which makes the infusion safer.

  • August 2017 Hamilton Medical launched a new high-end ventilator for critical care for all patient populations.


An Infographic Representation of Intensive Care Unit (ICU) Equipment Market

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The report offers qualitative and quantitative insights on the ICU equipment industry and the detailed analysis of market size & growth rate for all possible segments in the market. Along with this, the market research report provides an elaborative analysis of the market dynamics, restraints, competitive landscape, regional analysis, and opportunities. It further offers the regulatory scenario for key countries, key industry developments such as mergers & acquisitions, an overview of critical care equipment by countries, snapshots on the novel & upcoming innovations in intensive care unit equipment.

Report Scope & Segmentation



Study Period


Base Year


Forecast Period


Historical Period



  Value (USD billion)


By Product

  • Beds

  • Ventilators

  • Pulse Oximeters

  • Dialysis Equipment

  • Others

By Patient

  • Adult

  • Pediatric

By Application

  • Neurology

  • Cardiology

  • Respiratory

  • Oncology

  • Trauma

  • Others

By End-user

  • Hospitals

  • Specialty Clinics

  • Others

By Geography

  • North America (the U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)

  • The Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)

Frequently Asked Questions

Fortune Business Insights says that the ICU Equipment market was valued at USD 6.16 billion in 2019 and is projected to reach USD 9.03 billion by 2027.

The value of the global Intensive Care Unit (ICU) Equipment Market was valued at USD 6.16 billion in 2019.

The market is projected to grow at a CAGR of 4.8% in the forecast period (2020-2027)

The bed is the leading segment in the market by product.

Rising prevalence of chronic diseases, growing demand for ICU due to emerging health pandemic, increasing funds provided by the governmental and non-governmental organizations for the development of advanced critical care equipment are the key factors driving the growth of the market

Koninklijke Philips N.V., GENERAL ELECTRIC COMPANY, B. Braun Melsungen AG, and Medtronic are some of the top players in the market.

North America is expected to hold the highest market share in the market.

Growing demand for the ICU/CCU equipment in cardiovascular and respiratory disorders and strategic investments by key players in expanding the ICU equipment market are some of the market trends.

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Intensive Care Unit (ICU) Equipment Market Size, Share and Global Industry Trend Forecast till 2026
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