As per the recently published report by MarketsandMarkets™, The report "Ventilators Market by Mobility (ICU, Portable), Type (Adult/Paediatric, Neonatal), Mode, Interface (Invasive, Non-invasive), End User (Hospital,Clinic, ACC, Homecare), Key Stakeholder & Buying Criteria, Unmet Need, Reimbursement - Global Forecast to 2028", is projected to reach USD 5.7 billion in 2028 from USD 4.2 billion in 2023, at a CAGR of 6.4% during the forecast period.
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PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=11018337
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- 259 Market Data Tables
- 57 Figures
- 290 Pages and in-depth TOC on " Ventilators
Market - Global Forecast to 2028”
Some of the prominent key players are:
- ResMed (US),
- Medtronic (Ireland),
- Vyaire Medical, Inc. (US),
- Getinge AB (Sweden),
- Drägerwerk AG & CO. KGAA (Germany),
- ICU Medical, Inc. (US), and many
more......
Mergers & acquisitions, investments & expansions,
partnerships & collaborations, and new product developments are some of the
major strategies adopted by these key players to enhance their positions in the
ventilator market.
- In 2022, the intensive care ventilators
segment holds the largest share of the ventilators market. The growth of
the intensive care ventilators segment is due to the susceptibility of
geriatric individuals to develop severe health problems, the volume of
patients being treated in critical care units is increasing, which in turn
is driving the demand for intensive care beds.
- In 2022, the adult/pediatric ventilators
segment accounted of the ventilators market. The large share of the
adult/pediatric ventilators segment can be attributed to chronic diseases
such as COPD & asthma, growing tobacco consumption, and the increasing
geriatric population.
- In 2021, the hospitals and clinics
segment accounted of the ventilators market. The hospitals and clinics
segment will continue to dominate the market during the forecast
period.
- The APAC market is expected to grow at
the highest rate during the forecast period, the growing prevalence of
lifestyle related diseases such as obesity, a decreasing mortality rate,
and the rising demand for home healthcare, are also driving the demand for
ventilators.
In recent years, the the global
market has evolved significantly due to technological advancements, such as the
development of advanced portable ventilators and improvements in the sensor
technologies used in ventilators. The demand for multimodal ventilators has
been on the rise due to their versatility and ability to cater to a wide range
of patients’ needs within a single device. These ventilators offer various
ventilation modes and settings, making them suitable for treating patients with
diverse respiratory conditions, from mild to severe. Particularly, during the
COVID-19 pandemic, the flexibility of multimodal ventilators became essential
in adapting to rapidly changing patient requirements, allowing healthcare
providers to transition between modes seamlessly as patient conditions evolved.
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