Geographical Expansion is the Key Strategy Adopted by Leading Market Players to Foster Growth in the Critical Care Devices Market in Emerging Nations
The critical care devices market comprises a large number of big, medium, and small-sized companies providing critical care equipment (patient monitors, ventilators, and infusion pumps) to various hospitals and clinics. 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), Akas Medical (India), Smiths Medical (U.S.), Nihon Kohden Corporation (Japan), and Fresenius Kabi (Germany) are some of the key players operating in the critical care devices market in emerging nations. In 2015, the Indian patient monitors market was dominated by Koninklijke Philips N.V., General Electric Company (GE), Nihon Kohden Corporation, Drägerwerk AG & Co. KGaA, and Skanray Technologies Pvt. Ltd.
As of 2015, Koninklijke Philips N.V. (Netherlands) held the leadership position in the Indian patient monitors market. Over the past three years, the company adopted new product launches and collaborations & partnerships as its key business strategies to ensure its dominance in this market. In March 2015, Philips India launched Efficia CM Series patient monitors at the 21st Annual Conference of Indian Society of Critical Care Medicine (ISCCM), held in Bengaluru, India. The Efficia suite includes defibrillators/monitors and portable ECG devices, which enable the monitoring, definitive diagnosis, and therapy of diseases in remote areas. This helped the company expand its product portfolio in the patient monitors market.
Drägerwerk AG & Co. KGaA (Germany) held the leadership position in the Indian ventilators market in 2015. The company has a wide product portfolio of ventilator systems, such as neonatal ICU ventilation, subacute care ventilation, and emergency & transport ventilations. Over the past three years, the company adopted new product launches and expansions as its key business strategies to sustain its leading position in the Indian ventilators market. For instance, in November 2015, Dräger launched Medical Air Ensure, its own conditioning unit for medical compressed air. Medical Air Ensure eliminates harmful gases, water, bacteria, and oil from the compressed air, through various drying and filtering stages, and produces medical compressed air. This system also has an additional alarm function which detects the unusual pressure loss and generates signals. This helped the company to enhance its product offerings in the ventilators market.
The Indian infusion pumps market was dominated by Braun Melsungen AG (Germany) in 2014. Through its Hospital Care division, the company offers several products such as injection and infusion solutions, infusion equipment and supplies, intravenous catheters, products for clinical nutrition, pumps, and disposable medical products to hospitals. The company focuses on expansions and partnerships as its key growth strategies to maintain its leadership position in the market. For instance, in May 2015, B. Braun established a subsidiary at the Dubai Biotechnology and Research Park (DuBiotech), a free-zone business park in the UAE. Through this subsidiary, the company aims to offer its complete range of products and services to its customers in the Gulf region.
In the critical care devices market, leading players are adopting the strategies of new product launches and product enhancements; geographic expansions; agreements, partnerships, and collaborations; and acquisitions in order to increase their market shares. Market players adopted these strategies to access new technologies, develop novel products, expand their product portfolios and distribution networks, and enter into emerging markets. Leading players are also focusing towards increasing their market visibility and strengthening their research and development capabilities to maintain their shares in the critical care devices market in emerging nations.
Related Reports:
Asia and North Africa Critical Care Equipment Market by Product (Infusion Pumps, Ventilators, & Patient Monitors) - Competitive Analysis & Forecasts to 2021
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