The global Ventilators Market is projected to reach USD 1,261.9
million by 2023 from USD 859.9 million in 2018, at a CAGR of 8.0%. Rising
prevalence of respiratory diseases, increasing incidence of preterm births,
urbanization and growing pollution levels, high
prevalence of tobacco smoking, rapid growth in the geriatric population,
and rising number of ICU beds are the major factors driving the growth of the ventilators
market.
The global ventilators market is consolidated at the top with the presence few big players in the
market. However, on regional basis there
are many local, regional, and global players. Philips Healthcare (Netherlands),
ResMed (US), Medtronic (Ireland), Becton, Dickinson and Company (US), Getinge Group (Sweden), Drager (Germany),
Hamilton Medical (Switzerland), and Smiths Medical (UK) were the major players
in this market. The companies are mainly focusing
on product launches and acquisitions.
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Philips Healthcare (Netherlands) held the leading position
in global ventilators market in 2017. The company has a diversified product
portfolio, which includes a wide range of
ventilators, such as Respironics V680, Respironics BiPAP Focus, Respironics
V680 non-invasive ventilators, and Respironics Trilogy. The company’s leading
position can be attributed to its strong
distribution network across the globe, which enables it to serve customers in
the Americas, Europe, Africa, and Asia Pacific.
The company’s strategic focus on introducing innovative products is indicative
of the significant R&D investments made. This
is evident from the launch of its Respironics V680 in Canada in 2015 and some European
market in 2016.
ResMed (US) has established a strong brand in the global
ventilators market. The company’s key growth strategies such as product launches, mergers & acquisitions,
and expansions have helped it to maintain its position in this competitive
market. Geographically, the company has a strong distribution channel across
the globe with facilities in about 150 countries across North America, South
America, Europe, Asia, and the Middle East & Africa. The company offers
products for the diagnosis, treatment, and management of respiratory disorders,
such as sleep apnea, chronic obstructive pulmonary disease (COPD), and other
chronic diseases. ResMed focuses on developing new and innovative products. In June
2016, the company launched the iVAPS (intelligent Volume-Assured Pressure
Support) therapy mode for Astral life support ventilators.
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Medtronic (Ireland) held the third position in the
ventilators market in 2017. The company acquired Covidien plc in January 2015
that helped it to offer a varied range of ventilators. Medtronic offers a
comprehensive portfolio of acute care ventilators and portable ventilators. The
company’s key growth strategies, such as the expansion of existing production facilities
and strengthening of R&D capabilities have helped it to maintain its
position in this competitive market. Geographically, the company has a strong
presence in North America. The revenue generated from the company’s minimally
invasive segment is expected to grow in the near
future owing to the successful implementation of organic and inorganic
growth strategies.
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