Market Scope
Mechanical
Ventilators Market Share is projected to grow at 4.51% CAGR during the
forecast period 2023-2032 as per a new Market Research Future report.
A
medical ventilator is a medical device that assists a patient in exchanging
oxygen and carbon dioxide mechanically. It is designed to provide inhaling for
a patient unable to breathe. Medical ventilators offer artificial respiration
for ill patients with a coma, cystic fibrosis, a spinal cord injury, stroke,
chronic obstructive pulmonary disease (COPD), or a loss of consciousness.
Regional Study
The Americas and APAC or Asia Pacific along with MEA or Middle East and Africa and Europe are the key for mechanical ventilators market insights.
Americas took the lead in the global market for mechanical ventilators market in the year 2019. The region has maintained its winning streak ever since, thanks to the expanding geriatric population coupled with the availability of medical insurance schemes. Focus on reducing the number of hospital stay and better patient experience adds to the demand for mechanical ventilators.
Europe could exhibit exponential growth between 2020 and 2027, in view of the escalating cases of COVID-19 and the dramatic rise in the need for ICU beds for patients admitted in hospitals, particularly in Italy.
The APAC is on track to capture a stunning CAGR in the coming years, by virtue of rising cases of chronic respiratory diseases and the surge in healthcare spending. The recent COVID-19 outbreak has also fostered the demand for mechanical ventilators as hospital admissions have risen considerably in the region. Moreover, strategic collaborations and agreements between the leading companies in the region and the massive patient pool requiring ventilation also strengthen the market position in the region. Soaring demand for modern and well-equipped healthcare facilities and the rapid emergence of the medical tourism sector in the region should benefit the mechanical ventilators industry in subsequent years.
Reputed Companies
The
mechanical ventilators Market Players are
- GE
Healthcare (US),
- Hamilton
Medical (Switzerland),
- Medtronic
(Ireland),
- Getinge
AB (Sweden),
- Macquet
Gmbh & Co. KG (Germany),
- Koninklijke
Philips N.V. (Netherlands),
- Smith’s
Medical (US),
- ACOMA
Medical Industry Co. Ltd (Japan),
- Becton,
- Dickinson,
and Company (BD) (US),
- Draeger
Medical GmbH (Germany),
- to
name a few.
Significant Boosters and Deterrents
The
unprecedented advent of the COVID19 pandemic has fostered the demand for
mechanical ventilators at a significant pace. The Society of Critical Care
Medicine reveals that in 2020, the total number of hospital ventilators in the
United States was close to 160,000 units. An extra stockpile of around 12,800
with Strategic National Stockpile is expected to be made available in similar
scenarios in the future. Strict measures taken by the government bodies as well
as the manufacturers to address the challenges of the pandemic have expedited
the inflow of advanced
mechanical ventilators, in face of escalating cases.
Furthermore,
the accelerated cases of Chronic Obstructive Pulmonary Disease or COPD, rapidly
expanding elderly population and frequent technical innovations could also
benefit the global market. Alarming rise in respiratory emergencies and the
resultant increase in the need for advanced respiratory care devices will also
facilitate market growth.
Market Segmentation
Product
type, mode, age group and end-user are the major segments highlighted in the Mechanical
Ventilators Market Outlook
- Product
types mentioned are transport/portable/ambulatory,
neonatal care and intensive care Unit. Intensive care unit/critical care
form the biggest segment since their adoption rate is the highest and are
extensively installed in hospitals. Also, with the COVID-19 cases
escalating worldwide, the demand for intensive care unit/critical care
ventilators is expected to mount significantly.
Transport/portable/ambulatory segment can show the fastest growth since
these products are extremely efficient in a variety of applications across
several care delivery settings, whether it is home care or ambulatory
centers.
- The
modes considered in the report include non-invasive
and invasive. Non-invasive ventilation has secured the leading position,
given its cost-effectiveness, higher tolerance, and the convenience of
using that foster its demand. In addition, the easy availability outside
ICU settings can also boost the need for non-invasive ventilation in the
future.
- Age
groups studied in the MRFR report include adult
and pediatric. Adult segment forms the highest share in the global
industry, owing to the soaring smoker population along with the escalation
in the cases of various respiratory diseases. Additionally, the burgeoning
elderly population and the surge in chronic diseases like asthma and
chronic obstructive pulmonary disease (COPD) also add to the segmental
growth.
- Major
market end-users are home care, ambulatory surgical
center and hospital and clinic. Home care owns the maximum share in the
worldwide market since the elderly patient pool has been expanding rapidly
and are increasingly demanding portable ventilators.
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