Acute Care Ventilator Market size is forecast to reach $2.81 billion by 2025, growing at a CAGR of 7.31% during the forecast period 2020-2025. Acute care ventilators are used to provide ventilation support to patients who are unable to breathe on their own or who require assistance to maintain adequate ventilation. Increasing pollution induced diseases such as chronic obstructive pulmonary disease (COPD), asthma and increasing surgeries with the growing demand for healthcare therapeutic devices are the major factors driving the growth of the market. Increasing geriatric population and increasing investments in healthcare by government and private organizations rise is set to further enhance the overall market demand of acute care ventilator market during the forecast period 2020-2025.
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Product- Segment Analysis
The Mechanical acute care ventilator segment held the largest share in the acute care ventilator market in 2019 and is estimated to grow at a CAGR of 8.27% during the forecast period 2020-2025. The growth in this segment can be attributed to the escalating government expenditures in healthcare that promote the adoption of the mechanical acute care ventilator market .Mechanical acute care ventilator is a machine designed to facilitate breathable air into and out of the lungs, to provide breathing for a patient who is physically unable to breathe or is breathing insufficiently. The rising geriatric population who is more prone to respiratory disorders significantly drives the growth of the acute care ventilator market. Advantages of mechanical ventilators like quicker recovery and major product launches by key market players like Mindray Medical International Limited and GE Healthcare are some other factors driving the growth of this segment in the acute care ventilator market. It is estimated that mechanical acute care ventilator is set to be the fastest growing segment and is set to register highest CAGR during the forecast period 2020-2025.
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End User – Segment Analysis
Home Care segment holds major share in the acute care ventilator market in 2019. This is owing to the growing out-of-pocket healthcare expenditure and growing per capita income along with increased awareness regarding advanced technologies among patients and doctors. A large pool of respiratory disorder patients, rising acceptance and demand for low cost and user friendly home healthcare products is increasing the growth of the acute care ventilator market.
Geography – Segment Analysis
North America dominates the acute care ventilator market in 2019 with a market share of more than 39.7%, followed by Asia Pacific. North America dominates the acute care ventilator market owing to the rise in disposable income and increase in investments in healthcare by the government and private organizations along with the use of the acute care ventilator during surgery and post-surgery to promote normal breathing. High prevalence of smoking and respiratory diseases along with the high healthcare expenditures and high developed healthcare system drives the growth of the acute care ventilator market in North America.
However, Asia-Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the high population base, increasing demand for home care products and enhanced government expenditure on healthcare along with the increasing chronic respiratory diseases.
Drivers – Acute care ventilator market
Rising prevalence of respiratory diseases
The demand of the acute care ventilator market is increasing with the increase in the respiratory diseases. The rising prevalence of respiratory diseases is increasing the rate of hospital admission and re admission of the affected patients. Urbanization and growing pollution levels, high prevalence of tobacco smoking and unhealthy lifestyle habits are contributing to the rise in the number of cases of respiratory and cardiovascular diseases, thereby driving the demand for acute care ventilator market.
Growing demand for healthcare therapeutic devices
The rapid growth in the global geriatric population, rising incidence of respiratory diseases and the cost-effective nature of home care devices and services are driving the growth of the acute care ventilator market. This is directly resulting in an increased demand for respiratory therapeutic devices. Moreover, the high growth potential in emerging markets, healthcare decentralization and evolution of miniaturized devices are the other major factors that is set to provide significant growth opportunities to acute care ventilators market.
Challenges – Acute care ventilator market
High cost of acute care ventilator and high risks of hospital acquired infections
Some of the factors that is estimated to impede the growth of the acute care ventilator market are high cost of acute care ventilator market, high capital requirement, high risks of hospital acquired infections and stringent regulations is set to hamper the growth of the acute care ventilator market.
Acute Care Ventilator Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the acute care ventilator market. In 2019, acute care ventilator market share is consolidated by the top ten players present in the market. Acute Care Ventilator top 10 companies are Becton, Dickinson And Company , Beijing Aeonmed Co Ltd , Drgerwerk Ag , General Electric Company , Getinge Ab ,Air Liquide, Hamilton Medical Ag , Koninklijke Philip N V , Maxtec, Inc and Medtronic Plc among others.
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