The global ventilators market is set to experience substantial growth, driven by the increasing prevalence of respiratory diseases such as COPD and asthma. These conditions lead to the narrowing of airways, making breathing difficult and necessitating external ventilation and airway management for many patients. However, the shortage of skilled healthcare workers, exacerbated during the pandemic, could impede market growth in the coming years.
The
Ventilators
Market report projects that the market will grow from USD 4.2 billion in
2023 to USD 5.7 billion by 2028, with a CAGR of 6.4% during the forecast
period.
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Key Growth Drivers:
Rising Obesity Rates: An unhealthy
diet, obesity, and physical inactivity are major contributors to respiratory
diseases. Conditions like asthma, COPD, obstructive sleep apnea (OSA), and
obesity-hypoventilation syndrome are becoming more prevalent as obesity rates
rise. According to the "State of Obesity 2022" report, four in ten
American adults are obese, and the trend continues to grow.
Key Growth Opportunity:
Cost Efficiency of Home Care Services: Patients
with conditions such as COPD, cystic fibrosis, and paralytic syndromes often
require significant respiratory care. The increasing preference for home care
therapies has led companies to develop specialized services, including resupply
systems and rental services. For example, CHI Health (US) offers affordable
devices for safe home care, and sleep apnea therapy equipment needs regular
maintenance and replacement to ensure effective treatment.
Market Segmentation:
- By Mobility: The intensive care ventilators segment
held the largest market share in 2022, driven by the growing number of
geriatric patients and the increasing volume of patients in critical care
units.
- By Type: The adult/pediatric ventilators segment dominated the market
in 2022, due to the high prevalence of chronic diseases like COPD and
asthma, growing tobacco use, and an aging population.
- By End User: The hospitals and clinics segment
accounted for the largest market share in 2021 and is expected to continue
dominating, driven by the rising number of patients with complex medical
conditions and the growing awareness of the benefits of mechanical ventilation.
Regional Analysis:
The
Asia Pacific market is anticipated to grow at the highest rate during the
forecast period. Factors such as the increasing prevalence of lifestyle-related
diseases, a decreasing mortality rate, and a rising demand for home healthcare
are driving this growth. Improvements in living standards and greater access to
healthcare are also contributing to market expansion.
Recent Developments:
- January 2022: ICU Medical acquired Smiths Group plc,
expanding its product line to include infusion therapy and ventilators.
- October 2021: GE Healthcare partnered with Apprise
Health Insights to launch Oregon’s Statewide Capacity System, tracking
beds and ventilators across 60 hospitals.
- June 2021: Vyaire Medical, Inc. partnered with
GenWorks Healthcare Limited to expand its footprint in India and enhance
access to pulmonary care.
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Key Players:
Prominent
players in the ventilators market include Koninklijke Philips N.V.
(Netherlands), ResMed (US), Medtronic (Ireland), Vyaire Medical, Inc. (US),
Getinge AB (Sweden), Drägerwerk AG & CO. KGAA (Germany), ICU Medical, Inc.
(US), Hamilton Medical (Switzerland), GE Healthcare (US), and many others.
The
ventilators market is poised for significant growth, supported by advancements
in healthcare technology and increasing healthcare needs.
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