Factors such as increasing number of preterm births, rapid growth in the geriatric population, rising prevalence of respiratory diseases, and rising number of ICU beds are expected to drive the growth of the ventilators market during the forecast period. In addition, the growing demand for home care therapeutics and higher growth in developing countries like China, India, and Brazil are driving the demand for ventilators.
The report "Ventilator Market is projected to reach USD 1.72 billion by 2027 from USD 0.93 billion in 2019, at a CAGR of 8.0%.
Market Drivers: -
1 Rising Prevalence of Respiratory Diseases
1.1 Urbanization and Growing Pollution Levels
1.2 High Prevalence of Tobacco Smoking
1.3 Changing Lifestyles
2 Rapid Growth in the Geriatric Population
3 Increasing Number of Preterm Births
4 Rising Number of ICU Beds
On the basis of mobility, the intensive case ventilators segment accounted for the largest share of the global ventilators market. The large share of this segment is attributed to the rising number of ICU beds and rising adoption of equipping the ICU beds with ventilators.
On the basis of interface, the invasive ventilation segment accounted for the largest share of the ventilators market. The large share of this segment is due to the high prevalence of tobacco smoking, increasing prevalence of chronic diseases such as COPD & asthma, rapid growth in the geriatric population, and improving healthcare affordability in developed countries.
Based on end user, the hospitals & clinics segment accounted for the largest share of the ventilators market. The large share of this segment can be attributed to the increasing number of private and public hospitals, economic expansion and focus of government on broader healthcare policies, and increasing per capita income.
Based on type, the adult/pediatric ventilators segment held the largest market share of ventilators market.
North America accounted for the largest share of the ventilators market in 2018, followed by Europe and Asia Pacific. The presence of major market players, the rising geriatric population, and high prevalence of smoking, high prevalence of respiratory diseases, highly developed healthcare system, and high healthcare expenditure are the other factors responsible for the large share of North America in the ventilators market.
The prominent players in the global ventilators market are Philips Healthcare (Netherlands), ResMed (US), Medtronic (Ireland), Becton, Dickinson and Company (US), Getinge (Sweden), Dräger (Germany), Smiths Group (UK), Hamilton Medical (Switzerland), GE Healthcare (US), Fisher & Paykel (New Zealand), Air Liquide (France), Zoll Medical (US), Allied Healthcare Products (US), Airon (US), Mindray (China), and Schiller (Switzerland).
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