Ventilators Market to Grow $3,653.7 Million by 2027: at 9.1% CAGR

ReportCrux Market Research has published a new report titled “Ventilators Market by Mobility (Portable/ Transportable Ventilators, and Intensive Care Ventilators [High-End ICU Ventilators, and Mid-End ICU Ventilators, and Basic ICU Ventilators]); by Type (Neonatal/ Infant Ventilators, Pediatric Ventilators, and Adult Ventilators); by Interface (Invasive Ventilation, and Non-Invasive Ventilation); by End User (Hospitals, Ambulatory Care Centers, Home Care Setting, Emergency Medical Services (EMS), and Others); and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 – 2027”.

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Market Size 2019-2027:

According to the report, global demand for ventilators market was valued at approximately USD 1,820.3 Million in 2019 and is expected to generate revenue of around USD 3,653.7 Million by end of 2027, growing at a CAGR of around 9.1% between 2020 and 2027.

Market Analysis and Overview: Global Ventilators Market

A medical ventilator is a system that supports respiration in patients that are seriously ill and those who need emergency treatment. Ventilators have monitoring and warning systems for continuous monitoring of patients, oxygen tanks, backup batteries, and remote control. Growing geriatric population base and rising numbers of preterm births are two of the driving forces in the demand for ventilators. Growing number of respiratory disorders combined with an rising number of hospital ICU beds and lifestyle changes, such as smoking, alcohol intake is further pushing the demand for ventilators.

Besides, the advent of COVID-19 has overwhelmed countries likes Italy's intensive care units. Lack of drastic measures such as ventilator shortages has disastrous effects in other countries. Doctors in Italy are also using the snorkelling masks initially designed for recreational purposes to take care of COVID-19 patients. In extreme cases COVID-19 causes the lungs to become fibrosis-like due to which the patients are unable to breathe without support. Hence, leading innovators are manufacturing breakneck-speed ventilators to fill the huge gap between demand and supply. In the aftermath of ongoing epidemic, businesses tend to repurpose their supply chains and production lines. James Dyson has pledged to donate 5,000 ventilators to other countries. GE Healthcare has also declared partnership with Ford Motor Company to aid production of ventilators.

Manufacturers and assembly companies in emerging economies, such as India and China, are focused on developing cost-effective, non-invasive ventilation solutions that meet local needs and provide patient care. Performance, construction and health advances have resulted in major benefits, such as improved weaning, better exchange of gases, better oxygenation and less harm to the lungs. Rapid increase in geriatric populations that are more vulnerable to respiratory disorders and high prevalence of chronic respiratory diseases lead primarily to the growth of the market for ventilators. Increasing government spending on healthcare on a global scale additionally supports business growth. However, adverse effects of some devices on neonates, complications associated with the use of ventilators and concerns about reimbursement can restrict growth in the industry.

Regional and Country-level Analysis

Based on regions, the market is divided into North America, Middle East & Africa, Asia Pacific, Europe, and Latin America. North America held almost 38% share of the overall market. The rising geriatric population, high respiratory disease prevalence, high smoking prevalence, highly developed healthcare infrastructure, high healthcare spending, and the presence of major market players in the U.S. are key factors driving the North American ventilators market. Asia-Pacific is expected to grow at high CAGR in the forecast period.

Segmentation Analysis:

The global market for the ventilators is segmented into mobility, interface, type, end user, and region. Based on the mobility, the global market for ventilators is segmented into portable/ transportable ventilators, and intensive care ventilators. The intensive care ventilators are further segmented into mid-end ICU ventilators, high end ICU ventilators, and basic ICU ventilators. From this, intensive care ventilators market accounted for almost 56% share of the market by mobility. The demand for user-friendly, low-cost, and compact portable fans is driving the demand for intensive care ventilators globally.

On the basis of type, the market is categorized into neonatal/ infant ventilators, pediatric ventilators, and adult ventilators. The adult ventilators segment held almost 51% share of the market in 2019. However, the market for neonatal/ infant ventilators is likely to grow at high CAGR in the forecast period due to factors like growth in the geriatric population base and increasing number of preterm births. Based on interface, the market is categorized into non-invasive ventilation, and invasive ventilation. The market for invasive ventilation is likely to grow at high CAGR in the forecast period due to its wide-ranging applications in neurological problems, respiratory illnesses, and sleep disorders.

Based on end user, the market is categorized into hospitals, ambulatory care centers, home care setting, emergency medical services (EMS), and others. The hospitals segment held almost 41%, however the home care setting is likely to grow at high CAGR in the forecast period. Strong growth in the home care segment can be attributed to increased per capital income, increased out-of-pocket healthcare spending, increased awareness among patients and doctors of advanced technology, increased acceptance of home healthcare products, and a growing pool of patients with respiratory disorders.

TO UNDERSTAND HOW COVID-19 IMPACT IS COVERED IN THIS REPORT on Ventilators Market

Major Key Players of 2020 Ventilators Market Report:

Major players in ventilators market are Zoll Medical (U.S.), Drager (Germany), Medtronic (Ireland), Airon Mindray (China), Fisher & Paykel (New Zealand), Becton, Dickinson and Company (U.S.), Allied Healthcare Products (U.S.), Air Liquide (France), Getinge (Sweden), and Schiller (Switzerland) among others.

The report segments of global Ventilators market are as follows:

By Mobility:

• Portable/ Transportable Ventilators

• Intensive Care Ventilators

o High-End ICU Ventilators

o Mid-End ICU Ventilators

o Basic ICU Ventilators

By Type:

• Neonatal/ Infant Ventilators

• Pediatric Ventilators

• Adult Ventilators

By Interface:

• Invasive Ventilation

• Non-Invasive Ventilation

By End User:

• Hospitals

• Ambulatory Care Centers

• Home Care Setting

• Emergency Medical Services (EMS)

• Others

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The report highlights in-depth quantitative as well as qualitative insights, historical data, and market size projections till 2027. It also gives a perspective on manufacturers, associations, specific organizations, industries, companies, and suppliers that work to expand their business worldwide. Value chain analysis of the industry is explained in detail this providing a clear view of key mediators involved. The report studies the global Ventilators market size from the company, major regions and countries, products type, end users and applications, background information, and also predictions to 2027.

In depth competitive landscaping, recent developments by competitors and product pipelines are covered in the report. Further, the report focuses on various strategies adopted by different key stakeholders with respect to product marketing. The consumption or sales revenue, consumption market share and its growth across the applicable regions is described in detail in the report. In addition, it also studies the sales channels and strategies that are adopted by different leading manufacturers.

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