New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Ventilators Market Size, Share, Growth and Trend Forecast to 2028 - COVID-19 Impact and Global Analysis by Mobility (Intensive Care Ventilators and Portable/Transportable Ventilators), Clinical Indication (Medical-in General, Trauma, Neurological, Surgical, and Others), Patients (Adult and Pediatric & Neonatal), Interface (Invasive and Non-Invasive), Mode [Combined Mode Ventilation, Volume Mode, Ventilation, Pressure Mode Ventilation, Neurally Adjusted Ventilatory Assist (NAVA), Inverse Ratio Ventilation (IRV), Prone Ventilation, High-Frequency Oscillatory Ventilation (HFOV), High-Frequency Percussive Ventilation (HFPV), and Others], and End User [Hospitals & Clinics, Home Care, Ambulatory Care Centers, and Emergency Medical Services (EMS)]”; the global ventilators market size is estimated to grow at a CAGR of 9% from 2022 to 2028, it is expected to grow from USD 4.61 billion in 2021 to USD 9.09 billion by 2028.
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Global Ventilators Market – Report Scope:
| Market Size Value in | USD 4.61 Billion in 2021 |
| Market Size Value by | USD 9.09 Billion by 2028 |
| Growth rate | CAGR of 9% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 285 |
| No. of Tables | 274 |
| No. of Charts & Figures | 90 |
| Historical data available | Yes |
| Segments covered | Mobility, Clinical Indication, Patients, Interface, Mode, and End User |
Portable ventilators are a recent technological innovation in ventilators. The device is set to transform ventilatory care through its small size, conferring portability and ease of use; versatility; and extended battery life. It is cheaper than other ICU ventilators and features both invasive and non-invasive capabilities; thus, the device is ideally suited for patients suffering from diseases of different severity. However, the manufacturers need to focus on the reliability aspect of these machines to deliver consistent ventilatory parameters despite the changing lung mechanics. Therefore, the growing ventilators industry fuels the growth of the ventilators market.
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Technological Innovation in Ventilators to Offer Growth Opportunities for Global Ventilators Market Players:
The demand for innovative, smaller, quieter, and more comfortable ventilators that respond to patients' needs is rising, thereby enabling healthcare providers to ensure effective treatment for patients in the ICU. Over the last two decades, technological advancements have significantly improved ICU ventilator performances. State-of-the-art ICU ventilators are primarily featuring a series of microprocessors controlling a gas delivery platform. As a result, the capabilities of these ventilators are more significant than previous generations of ventilators. With advancements in ICU ventilators, new modes are available; closed-loop control is majorly being used. The monitoring capabilities are of them are enlarged, and the user interface is also modified.
The majority of the new generation of ICU ventilators have a computer screen based on their user interface. The recent innovation in mechanical ventilators includes lung protection strategies, automated weaning strategies, and optimizing ventilator synchrony. They are also enabled with technologies such as iVAPS (i.e., intelligent volume-assured pressure support) with an iBR (i.e., intelligent back-up rate), leak management technology, learn circuit, and Vsync and TiControl for ensuring greater comfort.
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Global Ventilators Market: Competitive Landscape and Key Developments
Vyaire Medical Inc, Getinge AB, Dragerwerk AG & Co. KGaA, Fisher and Paykel Healthcare, General Electric Co, Hamilton Medical, Koninklijke Philips NV, Medtronic Plc, ResMed Inc, and BPL Medical are among the leading companies operating in the global ventilators market. These players are focusing on expanding and diversifying their market presence, and acquiring a novel customer base, thereby tapping prevailing business opportunities.
Many players are launching innovative products in the ventilators market with advanced features and cost-effective prices. For instance, in July 2020, KPIT Technologies unveiled its versatile ventilators for use in the treatment of COVID-19 patients. Similarly, in June 2020, Fitbit launched Fitbit Flow, an easy-to-use and low-cost automatic resuscitator designed for emergency ventilation in the treatment of COVID-19 patients.
Ventilators Market: Segmental Overview
Based on mobility, the global ventilators market is bifurcated into intensive care ventilators and portable/transportable ventilators. The intensive care ventilators segment held a larger market share in 2021. However, the portable/transportable ventilators segment is anticipated to register a higher CAGR during the forecast period. Technological advancement is one of the factors for the growth of the portable/transportable ventilators segment. The market players operating in the ventilators market are undergoing mergers and acquisitions to develop new products and the market. For instance, in April 2020, Xerox and Vortran Medical Technology announced a collaboration to increase the production of Vortran’s GO2Vent ventilator, which is FDA-approved. APM-Plus is a battery-operated, portable device designed to connect to a GO2Vent and monitor patient’s status and key respiratory parameters.
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Global Pressure Mode Ventilators Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Intensive Care Ventilators, Portable/Transportable Ventilators); End User (Hospitals, Ambulatory Surgical Centers, Homecare, Others); and Geography
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