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Sep 7, 2020 4:00 PM ET

Ventilator Market Size, share, Benefits, Advancements and Growth Opportunities 2020 to 2027


iCrowd Newswire - Sep 7, 2020

The Ventilator market was valued at US$ 2,620.45 millionin 2019and is projected to reach US$ 8,239.18 million by 2027; it is expected to grow at a CAGR of 12.9% from 2020to 2027.

A ventilator is an automatic breathing system that transfers breathable air into and out of the lungs to provide oxygento a patient who can either breathe or breathe insufficiently. The systemperforms by adding oxygen to the bloodstream and removing carbon dioxide from the bloodstream. This provides right quantity of oxygen among patients with respiratory problems. It also helps the patient’s body to heal, since it eliminates the extra energy of labored breathing. Growing prevalence of respiratory diseases and rapid growth in geriatric populationare expected to drive the market growth during the forecast period.

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VYAIRE MEDICAL, INC; Getinge AB; Dragerwerk AG & Co. KGaA; Fisher & Paykel Healthcare Limited;General Electric Company; Hamilton Medical; Koninklijke Philips N.V.,Medtronic; ResMed; Smiths Group plc are among the leading companies operating in the global ventilator market.

The ventilator market is categorized into type, mode, mobility, interface, end user, and region. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the ventilator markete mphasizing on various parameters, such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world.

Based on mobility, the ventilator market is segmented into intensive care ventilators and portable/transportable ventilators. In 2019, the intensive care ventilators segment accounted for a higher  share of the market. Growth of this segment is attributed to the growing prevalence of respiratory diseases and technological advancements in intensive care ventilators. However, the portable/transportable ventilators segment is likely to register a higher CAGR in ventilator marketduring the forecast period.

The Global Burden of Disease Study reported the global prevalence of 251 million COPD cases in 2016. More than 90% of COPD deaths occur in low­ and middle-income countries (LMICs). Further, COPD is expected to become the leading cause of death worldwide in the next 15 years. According to the National Center for Biotechnology Information, it is a disease spectrum that includes bronchitis and emphysema. It is becoming a significant health and economic problem worldwide; in 1990, the disease was the sixth-most common cause of death, and it is expected to be the third-most common mortality cause by 2020. According to the National Center for Biotechnology Information, 2018, the economic impact of COPD in LMICs is expected to increase to £ 1.7 trillion by 2030.

Respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, acute lower respiratory tract infections, tuberculosis, and lung cancer are among the most common causes of severe illness and death globally. Urbanization, growing pollution, unhealthy lifestyle habits, and high tobacco smoking prevalence are among the factors leading to the surge in the number of respiratory and cardiovascular disease cases. These diseases can cause acute respiratory failure, treatment of which requires mechanical ventilation.

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Type -BasedInsights

Based on type, the ventilator marketis segmented into adult/pediatric ventilators and neonatal/infant. The adult/pediatric ventilators segment held a larger share of the market in 2019 and is estimated to register a higher CAGR of 13.3% during the forecast period.

Interface -Based Insights

Based oninterface, the ventilator market is segmented into invasive and non-invasive. The invasive segment held a larger share of the market in 2019; whereas, the non-invasivesegment is estimated to register a higher CAGR of 13.5% during the forecast period.

 Mode -Based Insights

Based on mode, the ventilator market is segmented into combined mode ventilation, volume mode, ventilation, pressure mode ventilation, neurally adjusted ventilatory assist (NAVA), inverse ratio ventilation (IRV), prone ventilation, high-frequency oscillatory ventilation (HFOV), high-frequency percussive ventilation (HFPV), and others. The combined mode ventilationsegment held the largest share of the market in 2019 and is estimated to register the highest CAGR of 14.2% during the forecast period.

By Mobility

By Type

By Mode

By Interface

By End User

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Keywords:    Ventilator Market, Ventilator

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