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Ventilator-Associated Pneumonia Market Overview
The global ventilator-associated pneumonia market is expected to exhibit significant growth over the forecast period. The market was valued at approximately USD 968.92 million in 2018 and is projected to register a 9.45% CAGR over the forecast period.
Ventilator-associated pneumonia is a type of lung infection that affects patients who are on ventilators. It is caused because of lung diseases, neurological diseases, and trauma.
Factors such as the growing prevalence of ventilator-associated pneumonia and increasing incidences of traumatic brain injury are expected to drive the market growth. According to a report published by the National Center for Biotechnology Information (NCBI) in November 2017, the incidence rate for ventilator-associated pneumonia ranges from 5% to 67%, depending upon the case. Moreover, the increasing research and development expenditure for the development of effective treatment for the disease is further boosting the market growth.
However, factors such as expensive diagnostic tests, high ventilator charges, and inappropriate reimbursement scenarios are expected to hamper the market growth.
Impact of Covid-19 Outbreak on Global Ventilator-Associated Pneumonia (VAP) Market
The COVID-19 epidemic has been straining healthcare workflow across the globe. The outbreak has forced various industries to shut its doors, including many healthcare subdomains temporarily. Parallel to this, it has also had a positive impact and increasing demand for various medical market segments, including intensive care unit devices (beds, ventilators, etc.) and personal healthcare protection equipment, among others. A medical ventilator is one of the major devices that is used for the treatment of COVID-19. There has been a tremendous increasing demand for medical ventilators, forcing various manufacturers to boost their production by 30% to 50%. Various major players are pushing themselves for manufacturing and delivering as many possible ventilators across the world. The increasing usage of ventilators in healthcare facilities is increasing the chances of patients infected with ventilator-associated pneumonia.
We have observed the massive impact of novel coronavirus on people’s lives over the last five months. It has also impacted various industries across the globe, eventually affecting the global economy. Some industries have experienced negative growth, whereas some industries have experienced tremendous demand and have generated massive revenues in this period.Covid 19 Impact on Ventilator-Associated Pneumonia market is the one of the positive impact sector on global industry
Ventilator-Associated Pneumonia Market Competitive Analysis:
Adenium Biotech ApS (Denmark), Merck & Co., Inc. (US), AstraZeneca (UK), MedImmune (US), Nabriva Therapeutics AG (Ireland), Thermo Fisher Scientific (US), Bayer AG (Germany), Wockhardt (India), Shionogi Inc. (Japan), Cardeas Pharma (US) are some of the key players operating in the global ventilator-associated pneumonia market.
Ventilator-Associated Pneumonia Market Segmentation:
The global ventilator-associated pneumonia market has been segmented into diagnosis, end users, and region.
Based on diagnosis, the global ventilator-associated pneumonia market has been segmented into clinical, radiological, microbiological, and others. The microbiological diagnosis segment is further classified into blood & pleural fluid cultures, nonquantitative or semi-quantitative airway sampling, and quantitative cultures of airway specimens.
The global ventilator-associated pneumonia market, by end user, has been categorized into hospitals & clinics, research & academic institutes, ambulatory care centers, and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The ventilator-associated pneumonia market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada.
The European ventilator-associated pneumonia market has been segmented into Western Europe and Eastern Europe. The market in Western Europe has further been classified into France, Germany, Spain, the UK, Italy, and the rest of Western Europe.
The ventilator-associated pneumonia market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific.
The ventilator-associated pneumonia market in Middle East & Africa is segmented into the Middle East and Africa.
Ventilator-Associated Pneumonia Market Regional Analysis:
Geographically, the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is anticipated to dominate the global ventilator-associated pneumonia market owing to the prevalence of ventilator-associated pneumonia and growing initiatives by the government and non-government organizations to control the growth of the disease.
Europe is expected to hold the second-largest share of the ventilator-associated pneumonia market. The presence of a large patient population suffering from lung diseases and well-developed healthcare industry drives the market growth in this region.
Asia-Pacific is expected to be the fastest-growing regional market owing to the growing initiatives taken by the government and non-government organizations to create awareness regarding the prevalence rate of various infectious diseases and increasing incidences of ventilator-associated pneumonia. According to a report published by the Indian Chest Society in August 2016, the incidence rate of ventilator-associated pneumonia is approximately 13.6 per 1000 mechanical ventilation days in India.
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The ventilator-associated pneumonia market in the Middle East & Africa holds the least share of the market. The Middle Eastern market is expected to hold a significant market share of this region owing to growing government initiatives for developing the healthcare industry in this region. The African market is expected to grow due to high prevalence of infectious diseases.