At 9.63% CAGR, Medical Ventilator Market Size Set to Register USD 1435.64 Million by 2025
Medical Ventilator Market is valued at USD 826.93 Million in 2018 and expected to reach USD 1435.64 Million by 2025 with the CAGR of 9.63% over the forecast period.
A medical ventilator is a machine designed to support breathing problems and also known as a breathing machine or respirator which is mainly used in hospitals. A medical ventilator is frequently used for short period of time during surgical procedure or during the treatment for a serious lung disease or other condition that affects normal breathing. Breathing tube is connected through ventilator machine to patient’s body and other end of the tube is placed into the lung’s airways through mouth or nose. Additionally, this machine is attached to a computer with knobs and buttons that are controlled by a respiratory therapist, nurse, or doctor.
Key Players for Global Medical Ventilator Market Reports–
Key players of the medical ventilator market are Resmed, Medtronic, BD, Philips Healthcare, GE Healthcare, Invacare, Teijin Pharma, Fisher and Paykel, Drager Medical, DeVilbiss, eVent Medical and others.
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Ventilators are breathing machines that can be helped to keep the lungs working, as they cannot treat or fix a medical problem during surgery. But, they can provide the breathing work while patients are being treated or recovering from an illness. Ventilators are the most important life-saving machine and a significant part of treatment support for babies, children, and adults.
Global medical ventilator market is segmented on the basis of product type, application and region. By product type the market is classified into non-invasive ventilator and invasive ventilator. Based on application the market is classified into home use, hospitals and clinics and others.
The regions covered in this medical ventilator market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of medical ventilator market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
News: ResMed Acquired HB Healthcare to assist Millions of Koreans Living with Sleep Apnea and Other Respiratory Conditions
On 03rd July, 2019; ResMed provides cloud-connected sleep and respiratory care devices in more than 120 countries announced that is has completed the acquisition of HB Healthcare (HBH) to help millions of South Koreans living with sleep apnea, chronic obstructive pulmonary disease (COPD) and other respiratory conditions. ResMed offers a comprehensive range of home ventilators through its distribution partners to patients as well. Those ventilators will be cloud-connectable later this year.
Global Medical Ventilator Market Segmentation –
By Product Type:
Non-invasive Ventilator, Invasive Ventilator
By Application Type:
Home Use, Hospitals and Clinics, Others
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Increasing incidences of respiratory failure and surge in number of chronic disorders are the key factors which help in Global Medical Ventilator Market to grow.
Increasing incidences of respiratory failure, technological advancements in mechanical ventilation for the expansion of their application to the respiratory medicine and rapidly growing chronic obstructive pulmonary diseases are some key factors contributing to the increased demand of the medical ventilator market. For example; according to (WHO), reported that a prevalence of around 251 million cases of COPD were occurred globally in 2016. Over 90% of COPD deaths occurred in low and middle-income countries. Recently, the use of noninvasive positive pressure ventilation is considerably increasing in selected patients with hypercapnic respiratory failure, chronic obstructive pulmonary disease, cardiogenic pulmonary edema and chronic pulmonary disease.
Noninvasive ventilation has been most extensively demonstrated to be effective in acute, severe exacerbations of chronic obstructive pulmonary disease. In addition, rapid growth in organ transplantation among patients and increasing geriatric population are the another key factors leading to the fueled demand of this market. However, inappropriate maintenance, lack of skilled professionals and accuracy of the ventilator sensors may lead to ventilation errors in actual clinical practice can turn out to be restraining factors of this market. Future progress in ventilator will support a better balance between the organs and maintain adequate oxygenation and this factor will offer lucrative opportunities for medical ventilator market within the forecast period.
North America Is Expected To Dominate the Medical Ventilator Market
North America occupied the largest market share in medical ventilator due to the increasing government healthcare expenditure, presence of top medical ventilator manufacturers and rapidly growing chronic obstructive pulmonary diseases. COPD is a leading cause of death in the United States, affecting more than 16 million Americans. According to the reports, the US acute care hospitals own around 62,000 full-feature mechanical ventilators, while approximately 28,883 of these ventilators 46.4% can be used to ventilate pediatric and neonatal patient. Europe is the second largest region witnessed a higher growth in medical ventilators owing to the rising prevalence of respiratory diseases, significant rise from government funding and increasing acute healthcare units across the European countries supporting to the growth of this market. For example; a government across Europe has increased their demand for ventilators as doctors and hospitals prepare for a continuing upwelling in patients infected with the Covid-19 virus.
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