Market Scope
Mechanical Ventilators
Market Size is projected to grow at 4.51% CAGR during the forecast
period 2023-2032 as per a new Market Research Future report.
The
mechanical ventilators market is witnessing robust growth driven by increasing
incidences of respiratory diseases and advancements in technology. With a focus
on improving patient outcomes and reducing mortality rates, healthcare
providers are adopting innovative ventilator solutions. Key players are
investing in research and development to introduce efficient and user-friendly
devices, enhancing patient comfort and reducing the burden on healthcare
systems. Additionally, the COVID-19 pandemic has further accelerated market
growth, emphasizing the critical role of mechanical ventilators in managing
respiratory complications. Market competition is intense, with companies vying
to offer cost-effective and feature-rich products to meet the growing demand globally.
The
global Mechanical Ventilators Market is witnessing a significant surge in
demand, primarily driven by the increasing prevalence of respiratory diseases
and the ongoing COVID-19 pandemic. Ventilator support systems play a crucial
role in providing life-saving respiratory assistance to patients with acute
respiratory failure. These devices are designed to deliver a controlled mix of
air and oxygen to the lungs, supporting patients who are unable to breathe
adequately on their own. With advancements in technology, modern ventilator support
systems offer a wide range of functionalities, including advanced
monitoring capabilities, versatile ventilation modes, and enhanced patient
comfort features. Moreover, the integration of artificial intelligence and
machine learning algorithms into these systems enables personalized ventilation
strategies tailored to individual patient needs. Lung protective mechanical
ventilation strategies have gained prominence in recent years, aiming to
minimize ventilator-induced lung injury and improve patient outcomes. These
strategies involve the use of lower tidal volumes and optimal positive
end-expiratory pressure (PEEP) levels to prevent alveolar overdistension and
minimize barotrauma. Additionally, strategies such as prone positioning and
neuromuscular blockade are employed to optimize ventilation-perfusion matching
and reduce ventilator-associated complications.
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
MRFR report.
- 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.
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.
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.
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