Pune, 06, Dec 2022: A report on the global Ventilator Market published by Maximize Market Research, a leading Healthcare consultancy firm, analyzed that, the global Ventilator Market size was valued at USD 1.02 Billion in 2021 and the total Ventilators revenue is expected to grow at a CAGR of 8.2% from 2022 to 2029, reaching nearly USD 1.92 Billion. The analysis also provides information on industry trends, significant sectors, and possible investments in a variety of disciplines, as well as demand and supply networks, value and volume analysis, key market scenario, regional analysis, and competitive landscape.
Ventilator Market Scope and Research Methodology
The report offers a comprehensive overview of the global Ventilator Market. The Ventilator Market research report examines the market’s overall drivers, opportunities, challenges, and limitations. The study by using PESTLE, and PORTER analysis represents the market strength of both buyers and suppliers. A quantitative study of the present market is performed from 2021 to 2029 to demonstrate the potential for global market growth. The bottom-up approach is used for a market estimate and forecasting. To validate the findings, data were obtained from a large sample utilizing both primary and secondary research methods. The report provides a comprehensive analysis of the global Ventilator market based on the type of competition and helps the stakeholders to build marketing strategies.
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Ventilator Market Overview
A ventilator, often known as a breathing machine or respirator, is a device that assists individuals in breathing. It is most commonly used in hospitals to treat chronic obstructive pulmonary disease (COPD), sleep apnea, acute lung injury, and hypoxemia. The Ventilator Market has expanded dramatically over the years due to technological improvements such as the development of better portable ventilators and innovations in sensor technologies used in ventilators.
Ventilator Market Dynamics
According to the World Health Organization, respiratory illnesses account for more than 10% of all disability-adjusted life-years (DALYs), a number that shows the amount of active and productive life lost as a result of a condition. Only cardiovascular diseases exceed respiratory ailments in this regard (including stroke). COPD is third among the top 30 causes of death, behind lower respiratory tract infection, tracheal, bronchial, and lung cancer, tuberculosis, and asthma. Acute and chronic respiratory diseases impact over a billion people around the world. As a result, the growing number of individuals suffering from respiratory disorders is a primary driver of ventilator market growth.
Likewise, the market is being driven by the increasing aging population, which is inclined to acquire chronic diseases, as well as the rising prevalence of chronic diseases such as chronic obstructive pulmonary disease (COPD). As a result, the increased prevalence of respiratory disorders in the population is expected to drive market growth by increasing the demand for ventilators. However, the high cost of ventilator materials and procedures, as well as growing healthcare system costs and increased instances of ventilator-associated pneumonia, are expected to constrain market growth.
Ventilator Market Segmentation
By Mobility
- Intensive care ventilators
- Portable/ transportable ventilators
By Type
- Adult/pediatric ventilators
- Neonatal/infant ventilators
By Interface
- Invasive ventilation segment
- Non-invasive ventilation
By Mode
- Combined-mode ventilation
- Volume-mode ventilation
- Pressure-mode ventilation
- Other ventilation modes
By End User
- Hospitals & clinics
- Home care settings
- Ambulatory care centers
- Emergency medical services
Ventilator Market Regional Insights
The North American market dominated the market in 2021, with a market share of over 56%, and is expected to grow at a CAGR of 7.9% during the forecast period. The presence of prominent manufacturers ramping up production, as well as the rising number of severely ill COVID-19 patients in the United States (4,813,647 as of 3 August 2020), are major drivers driving the regional market.
In addition, due to the increasing cases of COVID-19 variants, chronic lung diseases, rising healthcare expenditure, multiple collaborations, new product launches, and strategic agreements implemented by local players during the pandemic, the Asia Pacific market is expected to grow significantly during the forecast period. In January 2021, for example, CSIR-NAL created Swasth Vayu, a non-invasive airway pressure ventilator.
Ventilator Market Key Competitors:
- Koninklijke Philips N.V.
- ResMed
- Medtronic
- Fisher & Paykel Healthcare Limited
- Drägerwerk AG & CO. KGAA
- Nihon Kohden Corporation
- Getinge AB
- Asahi Kasei Corporation
- Air Liquide
- Vyaire Medical, Inc.
- GE Healthcare
- Hamilton Medical
- Smiths Group plc.
- Allied Healthcare Products, Inc.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- aXcent Medical GmbH
- Metran Co., Ltd.
- MAGNAMED
- Avasarala Technologies Ltd
- Airon Corporation
- TRITON Electronic Systems Ltd.
- Bio-Med Devices, Inc.
- Hill-Rom Holdings, Inc.
- HEYER Medical AG
- Leistung Engineering Pvt. Ltd.
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Key questions answered in the Ventilator Market are:
- What is Ventilator?
- What is the growth rate of the Ventilator Market during the forecast period?
- What is the nature of competition in the Ventilator Market industry in developed economies and developing economies?
- Who are the major distributors of Ventilators in the Ventilator Market scenario?
- Who are the market leaders in Ventilator Market?
- What are the factors affecting the market growth of the Ventilator Market?
- Which region held the largest market share in Ventilator Market in 2021?
- What is the major driver for the market growth?
- What is the current market trend in Ventilator Market?
- What is the demand and supply network in the Ventilator market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Challenges, Investment Opportunities, Recommendations, and Key Trends
- Market Segmentation – A detailed analysis by Mobility, Type, Interface, Mode, End User, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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About Maximize Market Research:
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