Selbyville, Delaware, April 15, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on mechanical ventilators market which estimates the global market valuation for mechanical ventilators will cross US$ 9 billion by 2026. The pandemic COVID-19 outbreak will require respiratory emergencies across the globe that in turn will lead to the adoption of mechanical ventilators significantly. According to a report published by the World Health Organization, in April 2020, over 73,000 COVID-19 cases were confirmed in France with total of 8,896 deaths. Moreover, growing prevalence of respiratory diseases will further boost the demand for mechanical ventilators across the globe. Furthermore, technological advancements in ventilation systems coupled with increasing healthcare expenditure will further contribute to the market growth.
Rapid growth in the number of ICU beds across the globe is one of the major factors driving the market growth. The ratio of ICU beds to hospital beds is relatively fixed across all the countries except for the U.S. which operates with the ratio of 9 to 10 ICU beds for every 100 hospital beds. Also, according to the American Heart Association (AHA) 2015 annual survey, there were over 94,000 ICU beds in the U.S. that were around 14.3% of total hospital beds.
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The adult ventilators segment held a significant market share in 2018 and will assist in driving the market growth in the upcoming years. The advent of cost effective, patient friendly and portable sized ventilators will enhance the market demand over the analysis timeframe. Moreover, upsurge in the patients affected with the COVID-19 will further assist in impelling the market growth.
Moreover, increasing government initiatives in the healthcare sector will propel the growth of mechanical ventilators market. As per the U.S. department of Health and Human Services and the Federal Emergency Management Agency are working with multiple partners to develop crisis standards of care strategies for ventilator support. This will aid to increase the capacity of Strategic National Stockpile (SNS) through federal procurement, owing to which SNS will receive at least 20,000 mechanical ventilators by mid-May 2020.
The intensive care ventilators segment was valued at around USD 2.2 billion in 2018. The intensive care ventilators are further divided into high-end, mid-end and low-end ventilators. The segmental growth is attributed to the growing incidence of respiratory maladies and rising elderly population with respiratory emergencies.
Non-invasive ventilation was valued at around USD 1.6 billion in 2018 and is expected to register a significant growth rate over the forecast timeframe. The non-invasive ventilation is the mainstay therapy for patients with acute exacerbation of COPD. It is an effective treatment for the conditions such as cardiogenic pulmonary oedema, respiratory muscle weakness, ventilator-associated pneumonia, upper airway trauma and sinusitis. Hence, the abovementioned factors will support the market expansion over the years to come.
Browse key industry insights spread across 1,000 pages with 2,556 market data tables & 40 figures & charts from the report, “Mechanical Ventilators Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/mechanical-ventilator-market
The anaesthesiology segment was valued at around USD 200 million in 2018 and is expected to witness robust growth over the forecast period. Increasing pervasiveness of COVID-19 and growing geriatric population with breathing problems are some of the major factors that will positively influence the segmental growth. Also, high pollution levels resulting in respiratory illnesses will further enhance the market demand in the future.
The control mode ventilator segment held a market share of around 33% in 2018 and is estimated to expand at a CAGR of more than 18.5% over the analysis timeframe. The high growth is owing to its ability to avoid high resistance-related early pressure peak, that will lead to the significant market growth in the future. Also, the guaranteed tidal volumes of control mode ventilation produce a stable minute volume over a range of changing pulmonary characteristics.
The ambulatory surgical segment was valued at more than USD 650 million in 2018. Ventilators are used after surgery, as the patient may face difficulties immediately after the procedure. Thus, increasing number of surgeries requiring general anaesthesia will support the growth of mechanical ventilators market over the forecast timeframe.
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Germany mechanical ventilators market is projected to register a significant growth rate over 2020 to 2026. As compared with other European countries, Germany possess a large number of ICU beds as well as ventilators. For instance, according to a recent news article by the New York Times, in March 2020, Germany owned over 28,000 intensive care beds with 25,000 ventilators. Also, owing to the strong ratio of critical beds per capita across the country, the country will witness robust growth in the future. Furthermore, growing incidence of COVID-19 cases in the country will further boost the market growth. According to a recently published report by the World Health Organization, in April 2020, the total confirmed cases of COVID-19 in the country are more than 99,000.
Some of the prominent players operating in the mechanical ventilators industry are Medtronic, Getinge, Drägerwerk, Hamilton Medical, Philips, ResMed, GE Healthcare and Fisher & Paykel among others. Industry players are majorly focusing on several strategies such as new product launches, production expansion and strategic acquisitions to consolidate their market presence. For instance, in January 2020, Drägerwerk AG launched new ICU ventilators named new Evita V600 and V800. This new product launch will help to support daily clinical tasks in the ICU thereby, spurring the industry growth.
Partial chapters of report table of contents (TOC):
Chapter 3. Mechanical Ventilators Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Growing cases of COVID-19 pandemic infection
3.3.1.2. Increasing prevalence of chronic respiratory diseases
3.3.1.3. Rise in healthcare expenditure
3.3.1.4. Increase in number of ICU beds/critical care beds
3.3.1.5. Technological advancements
3.3.2. Industry pitfalls & challenges
3.3.2.1. Risks associated with the use of ventilators
3.3.2.2. High cost of mechanical ventilators
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By interface
3.4.3. By ventilator type
3.4.4. By application
3.4.5. By mode
3.4.6. By end-use
3.5. COVID-19 impact analysis
3.5.1. Impact of COVID-19 on 10 major markets
3.5.1.1. Overview
3.5.1.2. U.S.
3.5.1.3. Germany
3.5.1.4. UK
3.5.1.5. France
3.5.1.6. Spain
3.5.1.7. Italy
3.5.1.8. China
3.5.1.9. India
3.5.1.10. Japan
3.5.1.11. Iran
3.5.2. Impact of COVID-19 on industry segments, by 10 major markets (2020)
3.5.2.1. By Product
3.5.2.1.1. Intensive Care Ventilators
3.5.2.1.2. Portable Ventilators
3.5.2.2. By Interface
3.5.2.2.1. Invasive Ventilation
3.5.2.2.2. Non-invasive Ventilation
3.5.2.3. By Ventilator Type
3.5.2.3.1. Adult Ventilators
3.5.2.3.2. Neonatal Ventilators
3.5.3. Impact of COVID-19 on industry value chain
3.5.3.1. Research and development
3.5.3.2. Manufacturing
3.5.3.3. Marketing
3.5.3.4. Supply
3.5.4. Impact of COVID-19 on industry competition
3.5.4.1. Strategy
3.5.4.2. Distribution network
3.5.4.3. Product portfolio
3.5.4.4. Business growth
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. Europe
3.7. Porter’s analysis
3.8. Competitive landscape, 2018
3.8.1. Company matrix analysis, 2018
3.9. PESTEL analysis
Browse reports complete table of contents (ToC): https://www.gminsights.com/toc/detail/mechanical-ventilator-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.