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Aug 06, 2023

Mechanical Ventilator Market Research, Agency, Business Opportunities By 2031

The global mechanical ventilator market was valued at $2.94 billion in 2019 and is estimated to reach $12.54 billion by 2027 at a CAGR of 16.5% from 2020 to 2027. Increase in incidences of chronic

The global mechanical ventilator market was valued at $2.94 billion in 2019 and is estimated to reach $12.54 billion by 2027 at a CAGR of 16.5% from 2020 to 2027. Increase in incidences of chronic respiratory diseases, such as chronic obstructive pulmonary disease (COPD), asthma, bronchitis, and other lung disorders, and rise in number of accidental emergencies lead to substantial requirement of mechanical ventilators. In addition, growth in geriatric population prone to respiratory emergencies is one of the key drivers of the market. Mechanical ventilation is a lifesaving intervention for patients with respiratory disorders or respiratory failure. It is a form of breathing assistance in which a patient is connected to a machine through an endotracheal tube directly applied to the airway or non-invasive (NIV) mask. It is also employed as a diagnostic tool to measure static compliance of airway resistance and irregular functioning of respiratory system. Currently, intensive care and portable mechanical ventilators are the two most widely used ventilators available in the market.

Moreover, technological innovations in respiratory care devices, namely, non-invasive ventilation technology and portable mechanical ventilators, further supplement the market growth. Rise in preference of portable and home care ventilations for long-term ventilated patients is expected to be another major factor influencing the market growth. On the contrary, injuries associated with invasive mechanical ventilation such as pneumonia, lung injury, and barotrauma and high cost of mechanical ventilators are the prime factors that restrict the market growth.

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The mechanical ventilator market is segmented on the basis of components, product type, mode, end user, age group, and region. On the basis of components, it is bifurcated into devices and services. By product type, it is segmented into intensive care unit/critical care, transport/portable/ambulatory, and neonatal care ventilator. Intensive care mechanical ventilators are the most widely used ventilators and hold a dominant share in the mechanical ventilator market. However, the transport/portable/ambulatory mechanical ventilators segment is expected to be the fastest growing segment, owing to technological innovations and shifting trends to home care ventilation.

On the basis of mode, the market is divided into non-invasive ventilation and invasive ventilation. Non-invasive ventilators are specifically designed for critically ill patients suffering from respiratory failure, congestive cardiac failure, and for newborns. The non-invasive ventilators segment is expected to grow at a rapid pace as these ventilators are convenient for patients, have less side effects, and faster recovery.On the basis of age group, the market is categorized into pediatric & neonatal, adult, and geriatric. By end user, it is segmented into hospital and clinic, home care, ambulatory surgical centers, and others. Region wise, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA It also discusses the segmentation analysis based on product type and application that is presented in the report. The major studies, market growth rate, competitive environment, market drivers, trends, concerns, and macroscopic indicators, are all summarized. The report studies the SWOT analysis of each player profiled in this section, their products, production, value, capacity, and other crucial criteria.

The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.

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Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).

KEY BENEFITS FOR STAKEHOLDERS

? This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2027, which assists in identifying prevailing market opportunities.? An in-depth analysis of various regions is likely to provide a detailed understanding of the current trends to the stakeholders to formulate region-specific plans.? Comprehensive analysis of factors that drive and restrain growth of the mechanical ventilator market are provided.? Key regulatory guidelines for the mechanical ventilator market are critically dealt according to region.? A deep dive analysis of various regions provides insights that would allow companies to strategically plan their business moves.

KEY MARKET PLAYERS– Becton, Dickinson and Company– Carl Reiner GmbH– Draegerwerk AG & Co. KGaA– Getinge AB– General Electric Company (GE Healthcare)– Hamilton Medical AG– Koninklijke Philips N.V.– Medtronic Plc.– Mindray Medical International Limited– Smiths Group Plc.– Zoll Medical Corporation

KEY MARKET SEGMENTSBy Product Type– Intensive care unit/critical care– Transport/portable/ambulatory– Neonatal care

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By Component– Devices– Services

By Mode– Non-invasive ventilation– Invasive ventilation

By Age Group– Pediatric & neonatal– Adult– Geriatric

By End User– Hospital and clinic– Home care– Ambulatory surgical center– Others

By Region– North Americao U.S.o Canadao Mexico– Europeo Germanyo Franceo UKo Italyo Spaino Rest of Europe

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