Ventilators Market worth $5.7 billion | MarketsandMarkets.
Chicago, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Ventilators Market in terms of revenue was estimated to be worth $4.2 billion in 2023 and is poised to reach $5.7 billion in 2028, growing at a CAGR of 6.4% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Factors, such as cost efficiency of home care services and growth opportunities in emerging economies are also expected to present growth opportunities for market players. The rapid growth in the global geriatric population, rising incidence of respiratory diseases (including COPD and asthma), and the cost-effective nature of home care devices and services (compared to hospital visits) are the key factors driving the home healthcare market.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=11018337
Ventilators Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $4.2 billion |
| Estimated Value by 2028 | $5.7 billion |
| Growth Rate | Poised to grow at a CAGR of 6.4% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By mobility, type, interface, mode, end user |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Cost efficiency of home care services |
| Key Market Driver | Rising obesity cases due to sedentary lifestyles |
The demand for portable ventilators has seen a significant upsurge in recent years, driven by various factors, with the COVID-19 pandemic being a major catalyst. Portable ventilators have gained prominence in home healthcare settings, allowing patients with chronic respiratory conditions to receive essential respiratory support in the comfort of their homes. These devices have also played a pivotal role in emergency medicine, aiding in the transportation of critically ill patients and the creation of makeshift healthcare facilities during the pandemic. Additionally, portable ventilators are invaluable in resource-limited regions and disaster response scenarios, ensuring respiratory care accessibility in areas with limited healthcare infrastructure. Furthermore, advancements in technology have led to more compact, efficient, and customizable portable ventilators, meeting the evolving needs of healthcare providers and patients alike.
Based on interface, the invasive ventilators segment accounted for the largest share during the forecast period. Growth in the invasive ventilators market can be attributed to the rising prevalence of chronic respiratory diseases, and increasing number of elderly people, who are more likely to require invasive ventilation. Invasive mechanical ventilation is a lifesaving intervention for patients with respiratory failure. The most commonly used modes of invasive mechanical ventilation are assist-control, synchronized intermittent mandatory, and pressure support ventilation. Invasive ventilation can be used via three airways: the endotracheal tube, tracheostomy tube, and mini-tracheostomy tube.
Based on mode, the combined-mode ventilators segment accounted for the largest share of the ventilators market. Growth in this segment can be attributed to growing awareness of the benefits of combined-mode ventilators, such as improved patient outcomes and reduced mortality and increasing use of combined-mode ventilators in home care settings. These ventilators offer hybrid modes combining the features of volume-targeted and pressure-targeted ventilation, intending to avoid the high peak airway pressure that can occur during volume-mode ventilation and varying pressure that may occur during pressure-mode ventilation.
The ventilators market is geographically divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. These regions are further analyzed at the country level. North America will hold the largest share of the ventilators market in 2022. The rising elderly population, growing number of smokers, high prevalence of respiratory diseases such as COPD and asthma, highly developed healthcare system, rising healthcare expenditure, and presence of major market players in the US are the key factors driving the ventilators market in North America.
Buy a Ventilators Industry Report (290 Pages PDF with Insightful Charts, Tables, and Figures):
https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=11018337
Ventilators market major players covered in the report, such as:
- Koninklijke Philips N.V. (Netherlands),
- ResMed (US),
- Medtronic (Ireland),
- 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),
- ICU Medical, Inc. (US),
- 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 Limited (India),
- Airon Corporation (Florida),
- TRITON Electronic Systems Ltd. (Russia),
- Bio-Med Devices, Inc. (US),
- Hill-Rom Holdings, Inc. (US),
- HEYER Medical AG (Germany),
- Leistung Ingeniería SRL (Argentina),
- and Among Others
Request for FREE Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=11018337
The study categorizes the ventilators market based on mobility, type, interface, mode, end user and regional & global level.
Ventilators Market, By Mobility
- Intensive Care Ventilators
- High-end ICU ventilators
- Mid-end ICU ventilators
- Basic ICU Ventilators
- Portable/transportable ventilators
Ventilators Market, By Type
- Adult/pediatric Ventilators
- Neonatal/infant ventilators
Ventilators Market, By Interface
- Invasive Ventilators
- Non-invasive Ventilators
Ventilators Market, By Mode
- Combined Mode Ventilators
- Volume Mode Ventilators
- Pressure Mode Ventilators
- Other modes of ventilators
Ventilators Market, By End User
- Hospitals & Clinics
- Ambulatory care centers
- Emergency medical services
- Home care settings
- Other end users
Global Ventilators Market, by Region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Middle East and Africa
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=11018337
Recent Developments
- In January 2022, ICU Medical acquired Smiths Group plc, aims to support the expansion of ICU Medical’s product line, including infusion therapy and ventilators, thus expanding ICU Medical’s presence in critical care markets.
- In October 2021, GE Healthcare partnered with Apprise Health Insights. The companies together launched Oregon’s Statewide Capacity System to track 7,368 beds and approximately 800 ventilators across 60 hospitals.
- In June 2021, Vyaire Medical, Inc. partnered with GenWorks Healthcare Limited. The partnership in India expands the company's footprint and provides greater accessibility to high-quality pulmonary screening, testing, and treatment.
Key Stakeholders:
- Ventilator manufacturers
- Hospitals and clinics
- Home healthcare agencies
- Nursing homes
- Ambulatory care centers
- Assisted living facilities/home care settings
- Healthcare insurance providers
- Market research and consulting firms
- Venture capitalists and investors
Report Objectives:
- To describe, analyze, and forecast the ventilators market by type, mobility, interface, mode of ventilation, end user, and region
- To describe and forecast the ventilators market for key regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the ventilators market
- To strategically analyze the ecosystem, regulations, patent landscape, trade landscape, and case studies pertaining to the market under study
- To provide a detailed overview of the supply chain pertaining to the ventilator market ecosystem, along with the average selling prices of different types of ventilators
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for market players
- To profile key players and comprehensively analyze their market shares and core competencies2 in the ventilators market
- To analyze competitive developments such as partnerships, collaborations, agreements and acquisitions, product launches, and expansions in the ventilators market
Related Reports:
Respiratory Care Devices Market
Patient Monitoring Devices Market
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/ventilators-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/ventilators.asp
About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
