Ventilator Market Is Anticipated to Register a Significant CAGR over a Forecast Period 2020-2030
The Ventilator Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
Ventilator is a medical device used for manually supplying oxygen when a patient is unable to breath normally. Also known as mechanical ventilator, breathing machine or respirator, a ventilator pushes a mixture of oxygen and air into the lungs of a patient to supply oxygen to the body with the help of an endotracheal tube (ET tube) inserted through nose or mouth into the windpipe or through neck and trachea. Ventilators are a vital component of the intensive care unit and are witnessing increased demand due to increasing number patients suffering from respiratory disorders and increasing demand for critical care units. Expanding geriatric population and increased premature births has surged the demand for mechanical ventilators. Another factor highly impacting the global ventilator market is the emergence and prevalence of COVID-19 pandemic. The patients suffering from COVID-19 suffers from respiratory failure and needs a ventilator to support breathing. Due to rapid expansion of COVID-19 around the globe, the supply chain of ventilators is significantly disrupted. The manufacturers of ventilators are continuously engaged in manufacturing and supplying ventilators to meet the rising demand worldwide. Additionally, the ventilator supply chain is witnessing prominent shift with new entrants into the market to cope up with existing gap in demand and supply. The global ventilator market is expected to grow significantly in coming years.
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High mobility offered by portable ventilators to drive the growth of ventilator market
The global ventilator market is segmented based on type, interface, mobility, end user, and geography. Based on mobility, the global ventilator market is segmented into intensive care/ fixed ventilators, and portable ventilators. The intensive care ventilators contributed the largest share to the global ventilator market in 2019 owing to high demand from intensive care surgical units. The portable ventilators are anticipated to be the fastest growing ventilator type due to increasing adoption across multiple end use sectors. The demand for portable ventilators has surged significantly due to COVID-19 pandemic, and is anticipated to outpace the fixed ventilators in coming years.
Increased number of intensive care facilities around the world is driving demand for ventilators from hospitals
Based on end user, the global ventilator market is segmented into hospitals, home care, ambulatory surgical centers, and others. The hospitals dominated the global ventilator market in 2019 owing to increased number of intensive care facilities fuelled by pulmonary respiratory disorders and infectious diseases. The demand for ventilators from ambulatory surgical centers is anticipated to grow significantly in coming years.
Based on geography, the global ventilator market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America contributed a dominating share to the global ventilator market in 2019 and is anticipated to be a dominating geography during the forecast period owing to prevalence of respiratory disorders, and high prevalence of smoking, and increased healthcare investment. The demand for ventilators has increased significantly from the United States midst the COVID-19 pandemic and is expected to dominate the global ventilator market in coming years. Asia Pacific is anticipated to be the most lucrative market during the forecast period owing to expansion of ventilator manufacturing industry and rising demand from COVID-19 impacted countries across the geography.
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Major players active in the global ventilator market include Allied Healthcare Products, Inc., Becton, Dickinson and Company, Draeger Medical, Fisher & Paykel, GE Healthcare, Getinge, Hamilton Medical, Koninklijke Philips N.V., Maquet Holding B.V. and Co. KG, Medtronic plc, ResMed, Smiths Medical, and Teleflex.
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