- Growing incidence of chronic obstructive pulmonary disease (COPD)expands avenue, rising Covid-19 positive patents spurs uptake in healthcare
- Technological advancements in critical care ventilators to extend canvas for product innovation to meet the unmet need in market
ALBANY, N.Y., May 18, 2021 /PRNewswire/ -- Advances in ventilator technique and technology continue to enrich critical care healthcare settings world over. Mechanical ventilators market has thrived on the back of need to reduce the morbidity and mortality in patients with bronchial asthma and chronic obstructive pulmonary disease (COPD). A number of strategies for mechanical ventilation has come to the fore, given the prevalent trend of rise in surgeries for obstructive lung diseases, globally. Recent months have seen a surge in patients suffering with Covid-19 morbidity needing prolonged ventilation in hospital settings in various parts of the world. Thus, the mechanical ventilators market has witnessed rise in revenues from sales to meet hospitals' demands, and growing focus on clinicians along with multidisciplinary team to reduce clinical concerns. Critical care patients present a vast revenue prospect to players in the market.
Globally, the valuation of the mechanical ventilators market was pegged at US$ 1.9 Bn in 2018, and is projected to clock CAGR of 12.8% from 2019 to 2027. By 2027, the valuation is estimated to touch the mark of US$ 5.5 Bn.
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Key Findings of Mechanical Ventilators Market Study
- Prevalence of obstructive lung diseases drives product advancements: Worldwide, the incidence of various obstructive lung disorders that include COPD, asthma, bronchiectasis, and bronchiolitis is spurring the prospects in the market. The high post-operative morbidity and mortality associated with these patient cohorts is a factor for continuously improving ventilator strategies. Per the WHO finding, as many as 3 million affected with COPD die every year. This paints an alarming scenario in the management of burden of lung diseases.
- Need to focus on patient interfaces in non-invasive ventilation: Over the past few years, the mechanical ventilators market has seen a growing traction of the demand for minimally invasive devices for the hospital setting. Several clinical concerns need to be addressed for making non-invasive mechanical ventilators widely accepted. Some of the major concerns are mask-induced patient injuries and CO2 rebreathing, that clinicians need to address to make intubation successful. Particularly, the multidisciplinary team has become increasingly careful about the physiological changes in COPD patients. There is a need for extensive research and development in filling the gaps left the predecessors. The focus on patient comfort, compliance, and safety will help develop an effective mechanical ventilation strategy. In this regard, evidence-based guidelines will play a key role in shaping the product development strategies of key players in the foreseeable future.
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- Rise in demand for Covid-19 patients present vast avenue: The upsurge in Covid-19 patients who need critical care has spurred the demand for mechanical ventilation. The prolonged hospitalization stays due to rising viral caseloads in recent months in different regions of the world have further propelled the need for adopting technologically advanced mechanical ventilators.
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Mechanical Ventilators Market: Key Driving Factors and Avenues
- Rise in elderly populations is a key trend in the mechanical ventilators market
- Adoption of robust production technologies help manufacturers meet surge in demand
- Extensive research and development by medical device companies help in reducing the mortality and morbidity of lung infections
- Focus on increasing healthcare team outcomes in developing countries boosts market
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Mechanical Ventilators Market: Key Participants
A fair degree of fragmentation is expected to shape the future competitive dynamics in the mechanical ventilators market. Some of the prominent industry players in the market are:
- Dragerwerk AG & Co. KGaA
- Getinge AB
- Smiths Medical, Inc.
- Getinge AB
- Bunnell Inc.
- GE Healthcare
- VYAIRE MEDICAL INC.
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Non-invasive Ventilators Market: https://www.transparencymarketresearch.com/noninvasive-ventilators-market.html
Chronic Obstructive Pulmonary Disease (COPD) Treatment Market: https://www.transparencymarketresearch.com/chronic-obstructive-pulmonary-disease-copd-treatment-market.html
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