- The non-invasive ventilators market studied was anticipated to grow with a CAGR of nearly 5.9%, during the forecast period.
- Increased geriatric population coupled with higher incidences of chronic conditions drive the mechanical ventilator market growth. Increasing prevalence of chronic obstructive pulmonary disease (COPD) is the major driving factor for the industry.
- For instance, according to CDC (the Centres for Disease Control and Prevention), in 2018, 9 million adults were diagnosed with chronic bronchitis which eventually leads to higher requirements for ventilators, thus fueling the market.
- Additionally, increasing intensive care admissions, the rising introduction of ventilation modes such as Acute Non-Invasive Ventilation to avoid lung injury are likely to drive the growth of the global non-invasive ventilator market.
Key Market Trends
COPD and Asthma dominate the Global Non-invasive Ventilators Market
- According to the American Academy of Allergy Asthma and Immunology (AAAI), in 2016, approximately 8.3% of children in the United States were found to have asthma. Boys were to some extent more likely to have asthma than girls at a rate of 9.2% and 7.4%, respectively.
- Asthma incidence among children increased from 8.7% in 2001 to 9.4% in 2010, and then declined to 8.3% in 2016. Although not all changes were statistically noteworthy, a similar outline was observed among the sub-demographic groups, except the Mexican/Mexican-American children, among whom asthma prevalence increased from 5.1% in 2001 to 6.5% in 2016.
North America Dominates the Global Non-invasive Ventilators Market
- AAAI states that in 2012, the median annual medical cost of asthma was USD 983 in the United States. This ranged from an average low of USD 833 in Arizona to an average high of USD 1,121 in Michigan.
- In addition, there were 3,615 asthma-related deaths in 2015. Children under 18 years old made up 219 of those deaths. Asthma prevalence was highest among workers in the healthcare and social assistance industry, with 8.8% of workers stating that they had asthma at the time of the survey. Participants in the educational services industry reported the second highest rate of asthma at 8.2%.
- Hence, the growing prevalence of Asthma is expected to contribute to the significant market share of North America market over the forecast period.
The global non-invasive ventilators market is highly competitive and consists of a number of major players. Companies like ResMed Inc., Teleflex Incorporated, Hamilton Bonaduz AG, HEYER Medical AG, Koninklijke Philips N.V., Airon Corporation, Fisher & Paykel Healthcare, Mindray Medical International Limited, Phoenix Medical Systems Pvt. Ltd., Smiths Medical, Inc., among others, hold the substantial market share in the market.
- The market estimate (ME) sheet in Excel format
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1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Drivers
4.2.1 Increased Prevalence of Chronic Obstructive Pulmonary Disease (COPD) and Respiratory Disorders
4.2.2 Rise in Demand for Non-Invasive Procedures
4.3 Market Restraints
4.3.1 Risk of Ventilator-Associated Pneumonia
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.2 By Application
5.2.1 COPD and Asthma
5.2.2 Respiratory Distress Syndrome
5.3 End Users
5.3.1 Hospitals and Clinics
5.3.2 Ambulatory Surgical Centers
5.4.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South korea
184.108.40.206 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.4.5 South America
22.214.171.124 Rest of South America
6.1.1 ResMed Inc.
6.1.2 Teleflex Incorporated
6.1.3 Hamilton Bonaduz AG
6.1.4 HEYER Medical AG
6.1.5 Koninklijke Philips N.V.
6.1.6 Airon Corporation
6.1.7 Fisher & Paykel Healthcare
6.1.8 Mindray Medical International Limited
6.1.9 Phoenix Medical Systems Pvt. Ltd.
6.1.10 Smiths Medical, Inc.
A selection of companies mentioned in this report includes:
- ResMed Inc.
- Teleflex Incorporated
- Hamilton Bonaduz AG
- HEYER Medical AG
- Koninklijke Philips N.V.
- Airon Corporation
- Fisher & Paykel Healthcare
- Mindray Medical International Limited
- Phoenix Medical Systems Pvt. Ltd.
- Smiths Medical, Inc.