NOIDA, India, May 11, 2022 /PRNewswire/ -- A comprehensive overview of the Ventilator Market is recently added by UnivDatos Market Insights to its humongous database. The Ventilator market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Ventilator market. The Ventilator market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Ventilator market at the global and regional levels. The ventilator market is expected to grow at a CAGR of ~8% from 2021-2027.
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Market Overview
A ventilator, breathing machine, or respirator is a machine that assists with breathing. It is mainly used in hospitals to treat chronic obstructive pulmonary disease (COPD), sleep apnea, acute lung injury, and hypoxemia. The market is experiencing significant growth on account of the rising incidence of Asthma and COPD cases, rise in the aging population, increasing prevalence of tobacco smoking, growing urbanization and pollution, increase in preterm birth cases, and lifestyle changes.
Furthermore, the increase in government initiatives and the increase in the focus of pharmaceutical companies to manufacture advanced and portable devices. The rising prevalence of respiratory diseases and rising number of ICU beds is expected to drive growth in the ventilators market during the forecast period. In addition, ventilator penetration for home healthcare is expected to rise significantly owing to the convenience and comfort provided by technologically advanced and portable ventilators.
With the increase in population and urbanization, air pollution is becoming a major public health concern all over the world. Exposure to the harmful chemicals present in the air leads to significant adverse effects on health. Air pollutants are the major cause of asthma and chronic obstructive pulmonary disease (COPD) like chronic diseases. These pollutants not only lead to the acute aggravation of Asthma and COPD attacks but also increases the rate of respiratory morbidity and mortality. South Asia, East Asia, and the Pacific are the major reasons that experience high mortality rates due to air pollution. In 2019, the exposure to air pollutants resulted in more than two million deaths in these regions, with high death rates in China and India.
COVID-19 Impact
One of the major equipment used to treat COVID-19 is a medical ventilator. The demand for medical ventilators has risen dramatically, pushing manufacturers to increase output by 30-50%. Various large firms were competing to manufacture and deliver as many ventilators as possible around the world. Prior to the coronavirus outbreak, the rising prevalence of respiratory diseases and the increasing number of ICU beds were among the major factors offering growth to the global ventilators industry. However, there is an enormous demand for ventilators is being stated by every COVID-19-affected country. As, COVID-19 caused various lung complications such as pneumonia and, in the most severe cases, acute respiratory distress syndrome, or ARDS. Thus, ventilators are most significantly required while dealing with the population suffering from COVID-19.
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Ventilator market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Mobility, the market is primarily segmented into
- · Intensive care ventilators
- · Portable/ transportable ventilators
Based on mobility, the ventilator market is categorized into Intensive care ventilators and Portable/ transportable ventilators. In 2020, the Intensive care ventilators category accounted for the majority share of the market. This is mainly attributed to the presence of various manufacturers and initiatives taken by the government to increase the production of ventilators to provide care for patients with serious respiratory diseases and the increasing number of ICU beds, which have propelled the growth of the market.
By Type, the market is primarily segmented into
- Adult/pediatric ventilators
- Neonatal/infant ventilators
Based on type, the market has been bifurcated into adult/pediatric ventilators and Neonatal/infant ventilators. Adult/pediatric ventilators accounted for a higher market valuation in 2020. This is mainly due to the growing incidence of chronic diseases such as COPD & asthma in the adult population coupled with the growing number of smokers and the rising number of lung cancer cases in the geriatric population. According to the WHO, in 2020, lung cancer is the leading cause of cancer death (18.0%) of the total cancer deaths worldwide. The estimated new cases and deaths caused by lung cancer include 2,206,771 cases and 1,796,144, respectively.
By End-User, the market is primarily segmented into
- Hospitals & clinics
- Ambulatory care centers
- Home Care
- Others
Based on End-User, the ventilator market is categorized into Hospitals & Clinics, Ambulatory care centers, Home Care, and Others. Amongst End-User, the Hospital and Clinics category accounted for a significant share in the market owing to the attributed to the financial capabilities of hospitals to purchase high-priced instruments and the availability of trained professionals to operate ventilators. The COVID-19 outbreak has not only created pressure on healthcare resources but also forced these facilities to update their medical devices and infrastructure to provide instant and better care to patients.
Ventilator Market Geographical Segmentation Includes:
- NORTH AMERICAVENTILATOR MARKET
- United States
- Canada
- EUROPEVENTILATOR MARKET
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- ASIA-PACIFICVENTILATOR MARKET
- China
- Japan
- India
- Australia
- New Zealand
- Rest of Asia-Pacific
- REST OF THE WORLD VENTILATOR
North America will dominate the Ventilator market on account of the increasing popularity of chronic diseases. Moreover, the North American market is expected to witness substantial growth on account of the highly developed healthcare infrastructure, healthcare spending, and presence of a large number of market players in the region. In addition, the legislative policies by the government coupled with the surging prevalence of sudden cardiac arrest in the countries such as the U.S and Canada owing to the changing lifestyle are leading to the growing demand for defibrillators. As per the Sudden Cardiac Arrest Foundation, each year in the U.S., more than 350,000 cardiac arrests occur outside of a hospital setting. Furthermore, promulgating demand for automated external defibrillators (AEDs) is acting as a growth catalyst in the market.
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The major players targeting the market include
- Koninklijke Philips N.V.
- Medtronic plc
- Vyaire Medical Inc.
- GE Healthcare
- Fisher & Paykel Healthcare Limited
- Smiths Group plc
- Drägerwerk AG & CO. KGAA
- Getinge AB
- Resmed
- Hamilton Medical
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analysing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Ventilator market. The leading players have been analysed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Ventilator market?
- Which factors are influencing the Ventilator market over the forecast period?
- What are the global challenges, threats, and risks in the Ventilator market?
- Which factors are propelling and restraining the Ventilator market?
- What are the demanding global regions of the Ventilator market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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