Technological advances in microprocessor-controlled ventilation integrated with the complexity of new ventilator modes have provided multidisciplinary teams in healthcare organizations with various opportunities to improve the care of critically ill patients on ventilators. Advanced ventilators are also primed for any type of exigencies and have numerous checks and balances in place. Patient-specific parameters, such as air pressure, air volume, and flow speed, and general parameters, such as air leakage, mechanical failure, power failure, battery backups, oxygen tanks, and remote control, are all equipped with sensors and monitors.
The global Ventilators
Market is projected to reach USD
1.9 billion in 2026 from USD 1.4 billion in
2021, at a CAGR of 7.6% during the forecast period.
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Market Segmentation:
The intensive care segment accounted for the largest
share of the global ventilator market in 2020. The large share of the intensive
care ventilators segment can be attributed to the rising number of intensive
care beds equipped with ventilators. Increasing ICU admissions due to COVID-19
and re-admissions in developed countries, coupled with appropriate
reimbursements, are also responsible for the large share of the ICU ventilators
segment.
Based on type, the ventilator market is segmented
into adult/pediatric ventilators segment and neonatal/infant ventilators. The
adult/pediatric ventilators segment accounted for the largest share of the
market in 2020. The large share of the adult/pediatric ventilators segment can
be attributed to the large adult population suffering from COVID-19, the
growing incidence of chronic diseases such as COPD & asthma, the growing
number of smokers, and the rising geriatric population.
Based on interface, the invasive ventilation segment
accounted for the largest share of the Ventilators Market in 2020. Growth in
the invasive ventilation market can be attributed to the increasing severity in
COVID-19 patients and the rising prevalence of respiratory diseases,
neurological diseases, and sleeping disorders.
Based on mode, the combined-mode ventilation segment
accounted for the largest share of the market in 2020. The large share of this
segment can be attributed to its advantages over conventional pressure-mode
ventilation and volume-mode ventilation. The ability of combined-mode
ventilation to provide both modes of ventilation markets it a desirable product
in the market.
Based on end user, the hospitals & clinics
segment is likely to dominate the ventilator market during the forecast period
is attributed to the financial capabilities of hospitals to purchase
high-priced instruments and the availability of trained professionals to
operate ventilators. Market growth is also driven by the rapidly increasing
incidence of coronavirus disease. The COVID-19 outbreak has not only created
pressure on healthcare resources but has also increased the number of hospital
admissions.
Regional Analysis: -
The ventilator market in North America dominated
the market in the forecast period. The rising geriatric population, growing
number of smokers, high prevalence of respiratory diseases, increasing COVID-19
patient volumes, highly developed healthcare system, high healthcare
expenditure, and major market players in the US are the key factors driving the
market in North
America.
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Top Key Players: -
Prominent players in the Ventilators Market include
Koninklijke Philips N.V. (Netherlands),
ResMed (US), Medtronic (Ireland),
Fisher & Paykel Healthcare Limited (New
Zealand), Drägerwerk AG & CO. KGAA (Germany),
Nihon Kohden Corporation (Japan),
Getinge AB (Sweden),
Asahi Kasei Corporation (Japan),
Air Liquide (France),
Vyaire Medical, Inc. (US), GE Healthcare (US), Hamilton Medical (Switzerland),
Smiths Group plc (UK) and Allied Healthcare Products, Inc. (US).
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