Mechanical Ventilators Market is projected to report a CAGR of 5.8% between 2020 and 2030
The Global Mechanical Ventilators Market size is estimated to be USD 4.58 billion in 2019 and is predicted to reach USD 8.52 billion by 2030 with a CAGR of 5.8% from 2020-2030. Also known as assisted ventilation, mechanical ventilation is used to assist breathing in case of patients with respiratory or breathing problems. It is a life support system. Ventilators are used to supply oxygen into the lungs &body and help the body get rid of carbon dioxide through the lungs. Invasivemechanical ventilationinvolves the use of instrument inside the trachea such as endotracheal tube or a tracheostomy tube.
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The mechanical ventilators market is expected to exhibit potential growth during the forecast period. Factors such as increase in the prevalence of chronic obstructive pulmonary disease (COPD),technological advancements and supportive government funding in emerging economies are anticipated to drive the growth of the mechanical ventilators market.According to the World Health Organization (WHO), 65 million people suffer from moderate to severe chronic obstructive pulmonary disease (COPD).Furthermore, increase in geriatric population and rise in the awareness about treatment options for chronic respiratory diseases are also expected to boost the growth of the mechanical ventilators market.According to the data published by the United Nations in 2012, geriatric population is expected to reach to nearly over 2,000 million.
Market Dynamics and Trends:
Increase in the demand for respiratory care devices in hospital emergency department and ambulatory care centers are anticipated to drive the growth of the mechanical ventilators market during the forecast period. The ends user such as hospitals are now focusing on providing quality care services for patients with respiratory conditions thereby reducing deaths rate due to lack of technologically advanced medical devices. However, factors restraining the growth of the mechanical ventilators market are increase in the cost of mechanical ventilators and rise in the incidence of ventilator-associated pneumonia.
Number of product launched by the prominent market players are anticipated to significant impact on the growth of mechanical ventilators market during the forecast period. For instance, in August 2017, Ventinova received CE clearance for the commercial sale of its mechanical ventilator Evone.
Market Segmentations and Scope of the Study:
The global mechanical ventilators market share is analyzed on the basis of product, end user, and geography. On the basis of product, the market is segmented intocritical care ventilators, neonatal ventilators, transport & portable ventilators, and others.On the basis of end user, the marketis classified into thehospitals and clinics, ambulatory surgical centers and home care. The geographical analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and Rest of the World.
Geographical Analysis:
The company continues to strengthen its distribution network through collaboration with distribution partners in the U.S., Europe, the Middle East and Australia. Additionally, in January 2015, Philips launched the V680 ventilator for hospital respiratory care in Europe. The company focuses on offering patient-centred hospital respiratory care solutions with an aim to speed up time to non-invasive ventilation. This will further help to reduce hospital stay and hospital acquired infections. Moreover, increase in the demand for non-invasive ventilation is anticipated to create growth opportunities in the mechanical ventilators market.
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Comprehensive competitive analysis and profiles of major market players such as Dragerwerk AG & Co. KGaA, Getinge AB, GE Healthcare, Medtronic, ResMed Inc., Philips Respironics, Teleflex Incorporated, VYAIRE, Bunnell Inc. and Smiths Medicalis also provided in this mechanical ventilators market report.