Ventilators Market: Market Segments: By Mobility (Intensive Care and Portable/Transportable); By Type (Adult/Pediatric Ventilators and Neonatal/Infant); By Interface (Invasive and Non-Invasive); By Application (Hospitals and Clinics, Home Care, Ambulatory Care Centers and Emergency Medical Service); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
Ventilator is a medical device which is used to assist patients’ breathing. It is a type of respiratory aid in which the endotracheal tube is directed towards the patient’s airway and linked to the ventilator system. During surgery, these are also used while the patient is under anesthesia, which brings the patient to sleep without affecting normal breathing.
Ventilators Market is expected to project a notable CAGR of 7.83% in 2030.
Ventilators Market to surpass USD 3.41 billion by 2030 from USD 1.42 billion in 2018 at a CAGR of 7.83% throughout the forecast period, i.e., 2019-30. The growth of the global demand for ventilators is supported by packages of emergency relief accepted by governments around the world. In addition, the growth of the ventilator market is complemented by higher healthcare spending and developed healthcare infrastructure in countries such as the United States and Canada.
Ventilators Market: Segments
Portable/transportable ventilators segment to grow with the highest CAGR of XX.X% during 2019-30
Ventilators Market is segmented by mobility as portable and intensive care ventilators. The augmented market share of 56 % was accounted for by the category of intensive care ventilators and the market dominance can be attributed to the growing number of ventilator-equipped intensive care beds. The growth of the ICU ventilators segment is also responsible for rising ICU admissions due to COVID-19 and readmissions in developing countries coupled with sufficient reimbursement. Furthermore, the category of ICU ventilators is sub-segmented into high-end ICU ventilators, mid-end ICU ventilators and fundamental ICU ventilators. However, during the forecast era, the market is expected to see higher demand for portable ventilators.
Ventilators Market: Market Dynamics
Rising prevalence of respiratory diseases
Any of the conditions where medical ventilators are used are the growing prevalence of chronic diseases such as chronic obstructive pulmonary diseases (COPD), bronchitis, asthma, and the rise in the number of unintentional cases. The demand for ventilators is driven by the increasing occurrence rate of preterm birth, respiratory diseases, rise in geriatric population related disorders, increasing level of pollution, changing lifestyles of people and activities such as smoking and drinking leading to increased risk of respiratory infections, lung diseases and cancer.
High cost of Ventilators
However, the risks associated with the use of medical ventilators, such as patient and physician resistance to technological transfer, diseases such as barotrauma, lung injury, pneumonia, and the high cost of medical ventilators, are some of the factors that are hampering the growth of the global market for ventilators. The lack of standardized nomenclature for various ventilation modes also limits the global market for ventilators.
Ventilators Market: Regions
Ventilators Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Ventilators Market in North America held the largest market share of XX.X% in the year 2018 and is also expected to be the largest revenue generating regional market during the forecast period. The major factors driving the growth of the North American market are the higher prevalence of respiratory diseases and increasing healthcare spending. In addition, the region’s geriatric population is growing at a rapid pace and is expected to continue to help business growth in the coming years. In the Middle East & Africa region, the ventilator market is expected to report the highest CAGR during the forecast period. Due to a variety of factors such as rising government initiatives, subsequent improvements in health infrastructure in developing countries, increasing medical tourism, and increasing demand for quality healthcare, this regional market is projected to expand at the highest rate.
Ventilators Market: Key Players
• Philips Healthcare (Netherlands)
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• ResMed (US)
• Medtronic (Ireland)
• Getinge (Sweden)
• Becton, Dickinson and Company (US)
• Dräger (Germany)
• Smith’s Group (UK)
• Allied Healthcare Products (US)
• GE Healthcare (US)
• Hamilton Medical (Switzerland)
• Fisher & Paykel (New Zealand)
• Air Liquide (France)
Ventilators Market report also contains analysis on:
Ventilators Market Segments:
• Intensive Care Ventilators
• Portable/Transportable Ventilators
• Adult/Pediatric Ventilators
• Neonatal/Infant Ventilators
• Invasive Ventilation
• Non-Invasive Ventilation
• Hospitals and Clinics
• Home Care
• Ambulatory Care Centers
• Emergency Medical Service
• Ventilators Market Dynamics
• Ventilators Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints