Global Ventilator Market is valued at 865.12 USD Million in 2019 and expected to reach USD 1713.04 Million by 2026 with the CAGR of 8.94% over the forecast period.
Scope of the report
This report analyses the global market for Ventilator. The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to provide complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market.
Ventilator is a machine that offers mechanical ventilation to a patient by moving breathable air into and out of the lungs, to deliver breaths to a patient who is physically unable to breathe, or breathing insufficiently. Ventilators are generally used in ICU’s, home care, ambulatory care centres and emergency facilities. The global ventilators market is expected to witness moderate growth as a result of the rising prevalence of chronic heart and lung diseases and the increasing number of hospitals. The increased preference for home ventilation by clinicians and patients, to minimize hospital expenses, is catalyzing the demand for the home ventilators market.
Maquet, Covidien, Draeger, Hamilton Medical ,CareFusion, ResMed, Philips Respironics, GE Healthcare and others
Above mentioned companies are scrutinized to assess competitive landscape of global ventilator market. Report provides company profiles of each player. Each profile include company business overview, company governance, company product portfolio, company financials, business strategies, manufacturing locations and production facilities, company sale, production capacity, recent developments and strategic collaborations and partnerships, product launch, company segments, application diversification and company strength and weakness analysis.
Review period: (2016-2026)
Historic Period: 2016 to 2019
Forecast Period: 2020 to 2026
Base Year: 2019
Unit: USD Million
This ventilator market report provides insights on new trade regulations, import export analysis, industry value chain analysis, market size, consumption, production analysis, regional and segment market share, product launches, product pipeline analysis, impact of Covid-19 on supply chain, key regions, untapped markets, patent analysis, product approvals, continuous innovations and developments in the market.
• North America: U.S., Canada and Rest of North America
• Europe: UK, France, Germany, Italy, Spain and Rest of Europe
• Asia Pacific: China, Japan, India, Australia and Southeast Asia and Rest of Asia Pacific
• Latin America: Brazil, Argentina and Rest of Latin America
• Middle East and Africa: Gulf Countries, Israel, Africa and Rest of Middle East and Africa
By Type Segment
• Intensive Care Ventilators
• High-end ICU Ventilators
• Portable/Transportable Ventilators
By Age Group Segment
• Adult Ventilators
• Neonatal Ventilators
By Interface Segment
• Invasive Ventilation
• Non-invasive Ventilation
Global Ventilator market in terms of revenue is dominated by North America. The growth in North America is mainly attributed to the factors such as presence of advanced healthcare facilities, high prevalence of respiratory diseases, developed medical device industry and growing geriatric population. The region has grabbed the major share of the global market in the world due to increasing patient pool of respiratory diseases and presence of large number of multispecialty hospitals. At present more than 25 million people in the United States have asthma. Around 14.8 million adults have been diagnosed with COPD, and approximately 12 million people have not yet been diagnosed.
Europe is the second largest market. The growth was accounted to the prevalence of chronic diseases and presence of developed medical infrastructure. Asia Pacific is the fastest growing region with highest CAGR. China and India are the major revenue grossers in this region. Growing geriatric population, prevalence of chronic diseases and developing manufacturing sectors are the key driving factors in the region. The old age population is more susceptible to the respiratory diseases. People worldwide are living longer. Today, more than 125 million people are aged 80 years or older. By 2050, there will be almost 120 million people of 80 years will be living in China alone, and 434 million people in this age group worldwide. In future the demand for ventilators in Asia Pacific will foster as China, Japan, India will hold major portion of geriatric population in their vicinity.
Factors Affecting the Market
The high prevalence of COPD worldwide will be the major driving factor of the global ventilator market. According to Global Burden of Disease Study report there are 251 million cases of COPD globally in 2016. It is estimated that globally 3.17 million deaths were caused by COPD in 2015 representing 5% of all deaths globally in that year. Supply-side initiatives to introduce new technologies and ventilation modes to prevent lung injury, improve the synchrony between the respiratory mechanics of the patient and the ventilation, and provide better patient comfort, by reducing the time a patient has to spend on mechanical ventilation and sedation, will be the other major drivers of the growth of the ventilator market. An increase in the number of hospitals, and hence ICU beds, in emerging economies will be another major driving factor, and improvements to the reimbursement system for ICU procedures in developed economies will continue to drive growth. Multiple naming conventions used to identify ventilation modes is a major restraint as it creates confusion even among experienced ICU staff. Moreover, lack of clinical evidence is limiting adoption of newer technologies as critical care physicians are wary of the benefits associated with them. A lack of standardized nomenclature for different ventilation modes has caused confusion, even among the most experienced critical care physicians, and, along with a lack of abundant clinical evidence to support newer technologies in ventilation, is the major drawback restraining growth.
Important Questions Answered by Global Ventilator Market Report
• Which is the largest and fastest-growing region?
• What are the factors affecting growth of market?
• What are Key trends and opportunity areas?
• Which industry is the major consumer of market?
• What are the major strategies adopted by leading market companies?