New York, NY, April 06, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Ventilator Market by Mobility (Intensive Care, Portable), by Type (Invasive, Non-invasive), End User (Hospital, Ambulatory Care Center, Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2023”. According to the report, global ventilator market was valued at approximately USD 757.9 million in 2017 and is expected to generate revenue of around USD 1,169.7 million by end of 2023, growing at a CAGR of around 7.50% between 2017 and 2023.
Ventilators are essential and used in various application of patient care. At accident location and during transportation, ventilation is delivered with the help of an emergency ventilator. Furthermore, in hospitals during operation, anesthesia machine provides ventilation. Intensive care ventilators are used during a critical stay in intensive care. During treatment on intermediate care wards, patients need mechanical breathing support. Mechanical ventilation is necessary and has application in various fields in the hospital. Mechanical ventilation is required to start soon for neonates after birth using a ventilator or manual ventilation bag, in the operating room.
Browse through 57 Tables & 19 Figures spread over 110 Pages and in-depth TOC on "Global Ventilator Market Size, Share, Companies, Segments Analysis and Forecast 2017 – 2023”.
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The increasing incidences of mortality due to chronic diseases amongst the elderly populations and growing number of road accidents which results in the severity of patients are further expected to increase demand for ventilators. Ventilators are mostly used for patients who are unable to breathe on their own. Such factors will further drive ventilators market growth over the forecast period.
The ventilators market is segmented on the basis of mobility into intensive care, portable. Intensive care segment held major revenue share throughout the forecast period. The growth is attributed due to growing number of ICU beds equipped with ventilators.
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Based on the type, the market is segmented into invasive and non-invasive ventilators. Invasive ventilators held major revenue. The growth of invasive ventilators segment is attributed due to growing number of newborn babies, as the ventilator is mostly used in neonates.
North America dominates the ventilators market due to growing incidences of chronic diseases, increased expenditure on healthcare and growing geriatric population base. Furthermore, North America was the largest geographical market for due to the large patient pool, well-established healthcare infrastructure and high prevalence of smoking in the region.
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Europe is the second largest regional market and is expected to show significant growth in the future years due to growing research and development activities for providing advanced products and increasing demand for technologically advanced devices. Moreover, increased access to healthcare facilities in the region and rising medical tourism, are also expected to contribute to the growth of the market in this region.
The Asia-Pacific and Latin America market are projected to have the highest CAGR during the forecast period. Market growth is particularly expected in Brazil, China, India, and other emerging countries. Increasing life expectancy of the people in this region along with high unmet need will drive ventilators market growth. Furthermore, rising number of private clinics and development of new healthcare services coupled with growing number of birth rates in the region will also contribute to driving ventilators market growth.
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The Middle East and Africa hold the least growth in comparison to another region, owing to inadequate reimbursement policies in the region are responsible to restrain the growth of market. Thus, all the aforementioned parameters are expected to propel the ventilators market growth globally.
Some of the key players in ventilators market include Philips Healthcare, ResMed, Medtronic, Becton, Dickinson and Company, Getinge, Dräger, Smiths Group, Hamilton Medical, GE Healthcare and Air Liquide. Industry players are mostly engaged in mergers & acquisitions to retain their market share and diversify their product portfolio.
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This report segments the global ventilator market as follows:
Global Ventilator Market: Mobility Segment Analysis
- Intensive Care
- Portable
Global Ventilator Market: Type Segment Analysis
- Invasive
- Non-invasive
Global Ventilator Market: End-User Segment Analysis
- Hospitals
- Ambulatory Care Center
- Others
Global Ventilator Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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