Government Initiatives Toward Increasing the Availability of Ventilators Amidst the COVID-19 Pandemic
The global ventilators market is projected to reach USD 1.96 billion in 2026 from USD 1.36 billion in 2021, at a CAGR of 7.58% during the forecast period. Over the years, the ventilators market has evolved significantly due to technological advancements, such as developing advanced portable ventilators and improvements in the sensor technologies used in ventilators. The increasing number of preterm births, rapid growth in the geriatric population, rising prevalence of respiratory diseases, rising number of ICU beds, and rising number of COVID-19 patients are expected to drive growth in the ventilators market during the forecast period. The emergence of home healthcare has opened new avenues for the ventilators market. Convenience and comfort in the home care environment, coupled with cost advantages, are the other major factors driving growth in the home healthcare market for ventilators.
The intensive care segment is expected to account for the largest share of the ventilators market
The intensive care segment accounted for the largest share of the global ventilators market in 2020. The large share of the intensive care ventilators segment can be attributed to the rising number of intensive care beds equipped with ventilators. Increasing ICU admissions due to COVID-19 and re-admissions in developed countries, coupled with appropriate reimbursements, are also responsible for the large share of the ICU ventilators segment.
The adult/pediatric ventilators segment is expected to account for the largest share of the ventilators market
The adult/pediatric ventilators segment accounted for the largest share of the ventilators market in 2020. The large share of the adult/pediatric ventilators segment can be attributed to the large adult population suffering from COVID-19, the growing incidence of chronic diseases such as COPD & asthma, the growing number of smokers, and the rising geriatric population.
The invasive ventilation segment is expected to account for the largest share of the ventilators market
The invasive ventilation segment accounted for the largest share of the ventilators market in 2020. Growth in the invasive ventilation market can be attributed to the increasing severity in COVID-19 patients and the rising prevalence of respiratory diseases, neurological diseases, and sleeping disorders.
Combined-mode ventilation segment is expected to account for the largest share of the ventilators market
The combined-mode ventilation segment accounted for the largest share of the ventilators market in 2020. The large share of this segment can be attributed to its advantages over conventional pressure-mode ventilation and volume-mode ventilation. The ability of combined-mode ventilation to provide both modes of ventilation makes it a desirable product in the ventilators market.
Hospitals & clinics segment holds the highest market share in the ventilators market
The hospitals & clinics segment is likely to dominate the ventilators market during the forecast period is attributed to the financial capabilities of hospitals to purchase high-priced instruments and the availability of trained professionals to operate ventilators. Market growth is also driven by the rapidly increasing incidence of coronavirus disease. The COVID-19 outbreak has not only created pressure on healthcare resources but has also increased the number of hospital admissions.
North America to dominate the ventilators market during the forecast period
The ventilators market in North America dominated the ventilators market in the forecast period. The rising geriatric population, growing number of smokers, high prevalence of respiratory diseases, increasing COVID-19 patient volumes, highly developed healthcare system, high healthcare expenditure, and major market players in the US are the key factors driving the ventilators market in North America.
A breakdown of the primary participants for the ventilators market referred to for this report is provided below:
- By Company Type: Tier 1 - 34%, Tier 2 - 38%, and Tier 3 - 28%
- By Designation: C - level - 26%, Director Level - 35%, and Others - 39%
- By Region: North America - 17%, Europe - 39%, Asia Pacific - 28%,Latin America - 8%, Middle East & Africa - 8%
The prominent players in the ventilators market include Koninklijke Philips N.V. (Netherlands), ResMed (US), Medtronic (Ireland), Fisher & Paykel Healthcare Limited (New Zealand), Drägerwerk AG & CO. KGAA (Germany), Nihon Kohden Corporation (Japan), Getinge AB (Sweden), Asahi Kasei Corporation (Japan), Air Liquide (France), Vyaire Medical, Inc. (US), GE Healthcare (US), Hamilton Medical (Switzerland), Smiths Group plc (UK), Allied Healthcare Products, Inc. (US), Shenzhen Mindray Bio-Medical Electronics Co., Ltd, (China), aXcent Medical GmbH (Germany), Metran Co., Ltd (Japan), MAGNAMED (Brazil), Avasarala Technologies Ltd (India), Airon Corporation (Florida), TRITON Electronic Systems Ltd. (Russia), Bio-Med Devices, Inc. (US), Hill-Rom Holdings, Inc. (US), HEYER Medical AG (Germany), and Leistung Engineering Pvt. Ltd. (Argentina).
Research Coverage
The report analyzes the market for various ventilators and their adoption pattern. It aims at estimating the market size and future growth potential of the global ventilators market and different segments such as mobility, type, interface, mode, end-user, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product& service offerings, and recent developments.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global ventilators market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product or service launches in the global ventilators market
- Market Development: Comprehensive information on the lucrative emerging regions by product, application, end-user, and region
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global ventilators market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products & services of leading players in the global ventilators market
What is the estimated value of the Global Ventilators Market?
What is the growth rate of the Global Ventilators Market?
What is the forecasted size of the Global Ventilators Market?
Who are the key companies in the Global Ventilators Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 260 |
| Published | February 2022 |
| Forecast Period | 2021 - 2026 |
| Estimated Market Value ( USD | $ 1.36 Billion |
| Forecasted Market Value ( USD | $ 1.96 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
Table of Contents
Executive Summary
Companies Mentioned
- Air Liquide
- Airon Corporation
- Allied Healthcare Products, Inc.
- Asahi Kasei Corporation
- Avasarala Technologies Limited
- Axcent Medical GmbH
- Bio-Med Devices, Inc.
- Drägerwerk AG & Co. KGaA
- Fisher & Paykel Healthcare Limited
- GE Healthcare
- Getinge Ab
- Hamilton Medical
- Heyer Medical Ag
- Hill-Rom Holdings, Inc.
- Koninklijke Philips N.V.
- Leistung Engineering Pvt. Ltd.
- Magnamed
- Medtronic
- Metran Co., Ltd.
- Nihon Kohden Corporation
- Resmed
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Smiths Group plc
- Triton Electronic Systems Ltd.
- Vyaire Medical, Inc.
Methodology
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