Ventilator Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Ventilator Market - Snapshot
The global ventilator market is set to chart a high growth trajectory over the forecast period of 2017 to 2025. The CAGR (Compound Annual Growth Rate) will be steady and it will contribute to improving the market worth considerably. It will also create ample opportunities to have eyes set on the landscape developments through the forecast period.
Some of the reasons that the ventilator market would see the mentioned growth is ageing population, rise in chronic diseases and high incidence of bronchitis, asthma, chronic obstructive pulmonary disease (COPD), and other lung disorders.
Few significant ventilator market’s growth factors include the following:
A ventilator is essentially a medical equipment that supports the breathing process of a patient. It enables the passing of breathable oxygen into the airways of the patient such as larynx, mouth, and nose. It additionally carries out the carbon dioxide exhaled out. Ventilators are designed such that they deliver a fixed volume of air in and out. They operate in different modes such as volume cycle, pressure cycled, airway pressure release ventilation, (APRV), pressure regulated volume control (PRVC), and assist control ventilation (AVC) or non-invasive positive pressure ventilation.
While the different ventilation modes aren’t a way to cure a disease, they are used in the recovery mode for supporting the patient in case of critical illnesses. In case of chronic ailments or emergency situations leading to respiratory failure, ventilators prove to be lifesavers.
With the surge in incidence of chronic ailments, such as bronchitis, asthma, chronic obstructive pulmonary disease (COPD), and other lung disorders, coupled with the rising number of accidental emergencies, the global ventilator market is witnessing high demand for the product. The demand is additionally accentuated by the changing inclination towards superior home care, propelling the requirement for portable ventilators.
The key factor that could possibly hamper the growth of the global ventilator market are budget crunches faced by manufacturers, due to high component and assembly cost of the device. However, the broad usage of the ventilators is expected to overcome this restraint and fuel the growth of the global ventilator market.
Global Ventilator Market: Overview
The global market for ventilators is experiencing a significant expansion in its size, thanks to the continuous rise in the global geriatric population base, escalating cases of preterm births, and the augmenting number of ICU beds. Researchers expect the market to continue witnessing tremendous growth in the years to come.
The prime target of this report is to provide clear and detailed information about the worldwide market for ventilators to consultants, stakeholders, and other participants of this market to assist them in making well thought of decisions about their businesses.
Global Ventilator Market: Key Trends
In terms of mobility, intensive case ventilators emerged as the key segment of the global market for ventilators in 2017, thanks to the increasing demand for intensive care beds with ventilators across the world. The significant rise in ICU admission and re-admissions in emerging economies, together with, favorable reimbursement scenario is currently boosting the intensive case ventilators segment. Invasive ventilation interface has surfaced as the leading segment of this market, in terms of interface, and is expected to remain so, thanks to the widening base of applications of intensive care ventilators, especially in neurological diseases, respiratory diseases, and sleeping disorders.
Hospitals and clinics are the key end users of ventilators across the world. With the high financial capabilities of hospitals, making them capable of to purchasing expensive instruments and the availability of skilled professionals, the hospital segment is anticipated to continue on the top over the next few years.
Global Ventilator Market: Market Potential
The global market for ventilators is expected to gain substantially from the rising investments, presence of favorable regulatory policies, and the significant surge in the healthcare industry in developing economies, especially in the Asian region, in the near future. However, the issues associated with the usage of mechanical ventilators, hesitation of physicians for technological transition, and the easy availability of comparatively cheaper products from local vendors may limit the growth of this market to some extent in the years to come.
Global Ventilator Market: Regional Outlook
Among all the regional markets for ventilators, North America held the leading position in 2017 and was closely followed by Europe and Asia Pacific, thanks to the significant rise in geriatric population and the increased number of smokers, leading to augmenting prevalence of respiratory diseases. The regional market is expected to remain on the top in the near future, thanks to the presence of a highly advanced healthcare system, increasing healthcare expenditure, and the presence of established players in this region.
Global Ventilator Market: Competitive Analysis
The presence of a large pool of players points towards the competitive and fragmented structure of the global market for ventilators. Philips Healthcare (Netherlands), Medtronic (Ireland), ResMed (US), Becton, Dickinson and Co. (US), Dräger (Germany), Getinge (Sweden), Smiths Group (UK), GE Healthcare (US), Hamilton Medical (Switzerland), Fisher & Paykel (New Zealand), Zoll Medical (US), Air Liquide (France), Allied Healthcare Products (US), Schiller (Switzerland), and Airon Mindray (China) are some of the leading vendors of ventilators across the world. These vendors primarily rely on technological advancements to remain significant in this market. However, a shift in their focus towards mergers, acquisitions, and partnerships can be observed in the years to come.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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