PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1367746
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1367746
Ventilators are medical devices designed to assist individuals with breathing difficulties or respiratory failure. These machines provide mechanical support for the lungs by delivering oxygen and removing carbon dioxide from a patient's respiratory system. Ventilators are crucial in various medical settings, including intensive care units (ICUs), during surgery, and for patients with conditions such as acute respiratory distress syndrome (ARDS), chronic obstructive pulmonary disease (COPD), or neuromuscular disorders..
Scope of the Report | |
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Years Considered for the Study | 2021-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD) Billion |
Segments | By mobility, type, interface, mode, end user |
Regions covered | North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa |
The ventilators market is projected to reach USD 5.7 Billion in 2028 from USD 4.2 Billion in 2023, at a CAGR of 6.4% during the forecast period. Growth in the ventilators market is primarily due to the surge in demand for mechanical ventilation, expansion of manufacturing capacity, technological advancements, increased focus on remote monitoring and connectivity, and a growing trend towards home-based ventilation for chronic respiratory patients. However, the high cost associated with advanced ventilator technologies and equipment, which can pose a financial burden on healthcare facilities and limit their ability to invest in the latest ventilator systems.
The portable/transportable ventilators expected to grow at the highest CAGR during the forecast period
The portable/transportable ventilators expected to grow at the highest rate during the forecast period. The growth of this segment can be attributed to the increasing demand for home-based respiratory care, especially among patients with chronic respiratory conditions, and the need for portable ventilators in emergency medical response situations. Additionally, the COVID-19 pandemic has underscored the importance of portable ventilators in providing critical care in various healthcare settings, further driving their adoption and innovation in this rapidly evolving segment of the medical device industry.
The adult/pediatric ventilators segment expected to grow at the highest rate during the forecast period
The adult/pediatric ventilator segment is expected to grow at the highest rate during the forecast period The aging global population and advancements in medical technology and respiratory care have led to the development of more sophisticated and efficient adult ventilator systems, attracting healthcare providers looking to provide optimal care to patients which contribute to the growth of this segment.
The noninvasive ventilators segment expected to grow at the highest rate during the forecast period
The noninvasive ventilator segment is expected to grow at the highest rate during the forecast period. Owing to many patients prefer noninvasive ventilation over invasive methods (such as intubation and mechanical ventilation) because NIV is less invasive, more comfortable, and allows for greater mobility and communication during treatment. Additionally, COVID-19 pandemic highlighted the importance of noninvasive ventilation in managing respiratory distress caused by the virus.
The Asia Pacific region is expected to register the highest CAGR in 2022
Based on geography, the ventilator market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Growth of the Asia Pacific ventilators market is primarily driven by rising standard of living, growing awareness of healthcare, and improving healthcare infrastructure. The growth in the healthcare industry is expected to provide favorable growth opportunities for players operating in the ventilators market.
Key players in the ventilators market
The prominent players in the ventilator market are Koninklijke Philips N.V. (Netherlands), ResMed (US), Medtronic (Ireland), Dragerwerk AG & CO. KGAA (Germany), Nihon Kohden Corporation (Japan), Getinge AB (Sweden), Asahi Kasei Corporation (Japan), Air Liquide (France), Vyaire Medical, Inc. (US), GE Healthcare (US), Hamilton Medical (Switzerland), ICU Medical, Inc. (US), Allied Healthcare Products, Inc. (US), Shenzhen Mindray Bio-Medical Electronics Co., Ltd, (China), aXcent Medical GmbH (Germany), Metran Co., Ltd. (Japan), MAGNAMED (Brazil), Avasarala Technologies Limited (India), Airon Corporation (Florida), TRITON Electronic Systems Ltd. (Russia), Bio-Med Devices, Inc. (US), Hill-Rom Holdings, Inc. (US), HEYER Medical AG (Germany), and Leistung Ingenieria SRL (Argentina).
The report analyzes the ventilator market and aims at estimating the market size and future growth potential of this market based on various segments such as mobility, type, interface, mode, end user and region. The report also includes a product portfolio matrix of various ventilator available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
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