The Global Ventilators Market Size Was Worth USD 1.4 Billion in 2021 and is projected to grow to USD 2.43 Billion by 2030, at a CAGR of 7.6% over the forecast period of 2022 to 2030.
Ventilators Market Introduction
A mechanical ventilator is a device that helps people with chronic respiratory conditions including acute respiratory distress syndrome (ARDS) or problems with insufficient breathing. Additionally, ventilation is a life-saving treatment for people who have respiratory problems brought on by specific medical illnesses. When there are clinical or laboratory indications that the patient cannot maintain an airway or adequate oxygenation or ventilation, mechanical ventilation is typically explored. When a patient is attached to a mechanical ventilator via an endotracheal tube placed directly in the airway, it helps with breathing. It can also be used as a diagnostic tool to assess airway resistance static compliance and erratic respiratory system performance.
Ventilators are predominantly used in hospitals and healthcare centers for patients admitted with heart ailments, sleep apnea, hypoxemia, lung injury, just to name a few. The primary factors propelling the growth of global ventilators market are increasing prevalence of respiratory disorders, rise in geriatric population, and high number of preterm births. Alongside, technological advancements in the field, increasing ICU beds, and the prompt emergence of home health care are positively swaying the market dynamics.
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Ventilators Market- Segment Analysis
By mobility, ventilators market is bifurcated into intensive care ventilators and portable/transportable ventilators. Among these, the intensive care ventilators segment is anticipated to capture a significant market share over the forecast period owing to increase in the number of ventilator equipped icu beds along with growing ICU admissions related to covid-19 infection in various nations.
Based on type, the marketplace is fragmented into adult/pediatric ventilators and neonatal/infant ventilation.
On the basis of interface, the market sphere is classified into invasive ventilation segment and non-invasive ventilation.
Based on mode, ventilators market is classified into combined mode ventilation, volume mode ventilation, pressure-mode ventilation, and others. Among these, the combined mode ventilation segment is expected to capture substantial market share over the stipulated timeline. This is attributable to the capacity of these devices to provide both pressure-mode and volume mode ventilation.
Considering the end user segment, ventilators market is divided into hospital and clinics, home care settings, emergency medical services, and ambulatory care settings. The hospital and clinics segment is anticipated to garner significant regards over the stipulated timeline ascribing to financial capacities of hospitals to buy costly instruments and the presence of professions who can efficiently operate ventilators.
This business intelligence report further assesses the mentioned segments and sub segments to accurately determine the size and scope of the overall industry vertical.
Ventilators Market- Geographical Landscape
The major regions constituting the geographical landscape of this industry vertical are North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these, North America is presently dominating the global market owing to increase in elderly population, high number of smokers, rising occurrence of respiratory diseases, and growing number of COVID 19 patients. Alongside, high healthcare costs, rapid development in healthcare systems, and the presence of key market players are also boosting North America market expansion.
Ventilators Market- Competitive Hierarchy
The major players operating in global ventilators market are Koninklijke Philips NV (Netherlands), Medtronic Plc (Ireland), Getinge AB (Sweden), Bio-Med Devices, Inc (USA), Metran Co. Ltd (Japan), GE Healthcare (US), Fisher & Paykel Healthcare Limited (New Zealand), HEYER Medical AG (Germany), Airon Corporation (Florida), Smiths Group plc (UK), Leistung Engineering Pvt Ltd (Argentina), Avasarala Technologies Ltd (India), Hill-Rom Holdings, Inc (US), Allied Healthcare Products , Inc (US), aXcent Medical GmbH (Germany), and TRITON Electronic Systems Ltd (Russia), among others.
These aforementioned players are undertaking various strategic decisions and steps like collaboration deals, partnerships, innovative product launches, research and development investments, mergers & acquisitions, among others to strengthen their market presence and generate significant revenues.
Top Key Players:-
- ResMed
- Nihon Kohden Corporation
- Medtronic
- Fisher & Paykel Healthcare Limited
- Drägerwerk AG & CO. KGAA
- Getinge AB
- Nihon Kohden Corporation
- Asahi Kasei Corporation
- GE Healthcare
- Air Liquide
- Hamilton Medical
- Smiths Group plc
- Allied Healthcare Products, Inc.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd
- aXcent Medical GmbH
- Avasarala Technologies Ltd
- Airon Corporation
- Leistung Engineering Pvt. Ltd.
- HEYER Medical AG
- TRITON Electronic Systems Ltd.
- Hill-Rom Holdings, Inc.
- Bio-Med Devices, Inc.
- Metran Co., Ltd
- MAGNAMED
- Vyaire Medical, Inc.
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