|Status : Published||Published On : Aug, 2021||Report Code : VRHC1224||Industry : Healthcare||Available Format :||Page : 151|
The global medical ventilator market is expected to grow at a CAGR of 9.5% during the forecast period 2021–2027. The demand for ventilators is expanding with the growing number of sick patients, coupled with the high growth of chronic sickness among kids, and the increasing lifestyle disorders. These are creating health issues such as respiratory diseases, and heart attacks, which are demand more medical ventilators across the globe.
A medical ventilator is a piece of equipment that helps patients to breathe in sick patients and those requiring critical care. Ventilators are also used while offering sedation to the patients before any kind of medical procedure. Ventilators may also be furnished with monitoring systems for checking patients continuously. The medical ventilator is either mechanical, invasive, and non-invasive. At present, mechanical ventilators are majorly used among others.
Insight by Type
The global medical ventilator market has been classified by type into non-invasive ventilators, invasive ventilators, and mechanical ventilators. The non-invasive ventilators segment is further divided into flow-cycled, pressure-cycled, time-cycled ventilators, and volume-cycled. The mechanical ventilator segment is further categorized into negative pressure ventilators and positive pressure ventilators. A wide range of applications in neurological diseases, respiratory diseases, and sleeping disorders is one of the major invasive medical ventilator market drivers.
Insight by Application
Based on the application, the market is segmented into critical, neonatal, emergency, and other applications. The emergency care segment is predicted to be lucrative until the end of the forecast period. This is majorly due to the increase in heart attacks, and accidents.
The rapid development in the worldwide geriatric populace, rising occurrences of respiratory ailments, and the cost-effectiveness of home care gadgets and services (when compared with clinical visits) are the key elements driving the medical ventilator market. This is directly bringing a growing need for respiratory devices. Additionally, the high development potential in the developing markets and the advancement of miniaturized gadgets are the other main factors that are providing significant growth opportunities for the medical ventilator market to grow over the projected period.
The nations under the middle, and low-income categories require specific respiratory needs for newborn babies. The unavailability of the ventilators for newborn children in these countries is significantly affecting the need for the medical ventilators in the anticipated period. These nations also lack in understanding the developments, innovations, and advancements in the neonatal ventilator segment, which will further act as a significant restraint to the development of the global medical ventilators market.
The global medical ventilator market has been segmented by region into North America, Europe, Asia-Pacific, and the Rest of the World. The North America medical ventilator market is predicted to be the dominating region for the medical ventilators, due to a significant rise in lifestyle diseases, which are leading to severe health issues such as asthma, bronchitis, and many other disorders.
The Asia-Pacific medical ventilator market is predicted to have the fastest growth rate among other regions, owing to the growing occurrences of heart and respiratory diseases. These are majorly caused by growing environmental pollution, which is further leading to many lung disorders.
Some of the key players operating in the global medical ventilators market are Allied Healthcare Products Inc., Becton, Dickinson and Company, Fisher & Paykel, General Electric Company, Hamilton Medical, Koninklijke Philips N.V., Medtronic, Teleflex Incorporated, Smiths Group, and ResMed. Some key strategies adopted by the top-performing players in the global medical ventilator market include agreements, collaborations, expansions, mergers & acquisitions, partnerships, product launches.
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behaviour.
Source: VynZ Research
Source: VynZ Research