Newark, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 5.47 billion in 2022 global mechanical ventilators market will reach USD 9.60 billion by 2032. Ventilators with enhanced connectivity options that enable data sharing with electronic health records and other healthcare systems will be in high demand. This advancement facilitates seamless patient management and reduces the risk of errors. In addition, the trend toward home-based healthcare is expected to drive the demand for mechanical ventilators designed for home use. Individuals suffering from chronic respiratory conditions can experience improved accessibility and comfort through home-based healthcare services. Furthermore, integrating mechanical ventilators with telemedicine platforms and remote monitoring technologies presents a significant opportunity. As a result, it allows for real-time patient monitoring and adjustment of ventilation settings, improving patient outcomes and reducing hospital readmissions. With the rising emphasis on sustainability and environmental responsibility, there is an opportunity to develop eco-friendly and energy-efficient mechanical ventilators to meet the growing demand for environmentally conscious healthcare equipment.
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Key Insight of the Global Mechanical Ventilators Market
Asia Pacific is expected to witness the highest market growth over the forecast period.
Asia Pacific is home to a massive and growing population, which results in a higher incidence of respiratory diseases and a larger pool of potential ventilator users. This demographic factor drives demand for mechanical ventilators. Also, urbanization in the region has led to lifestyle changes, including increased exposure to environmental pollutants, contributing to the prevalence of respiratory disorders that necessitate mechanical ventilation. Besides, governments in the Asia Pacific are implementing initiatives to improve healthcare access and quality, which often includes procuring essential medical equipment like ventilators. Many governments in the Asia Pacific region, including China and India, have been increasing their healthcare spending significantly. This investment supports the development and expansion of healthcare infrastructure, including the procurement of mechanical ventilators. Thus further fueling the region's growth in the mechanical ventilators market.
In 2022, the intensive care/critical care mechanical ventilators segment dominated the market with the largest share of 39.42% and revenue of 2.16 billion.
The product type segment includes intensive care/critical care mechanical ventilators, neonatal mechanical ventilators, transport & portable mechanical ventilators, and others. In 2022, the intensive care/critical care mechanical ventilators segment dominated the market with the largest share of 39.42% and revenue of 2.16 billion.
In 2022, the non-invasive ventilation segment dominated the market with the highest share of 58.03% and market revenue of 3.17 billion.
The mode of ventilation segment is classified into invasive ventilation and non-invasive ventilation. In 2022, the non-invasive ventilation segment dominated the market with the highest share of 58.03% and market revenue of 3.17 billion.
In 2022, the hospitals segment held the largest market share at 46.13% and a market revenue of 2.52 billion.
The end user segment is divided into hospitals, home care, ambulatory surgical center and others. In 2022, the hospitals segment held the largest market share at 46.13% and a market revenue of 2.52 billion.
Advancement in market
In January 2023: Getinge introduced its latest innovation, the Servo-c mechanical ventilator, strategically tailored for specific markets. This cutting-edge device provides essential lung-protective tools for the therapy of both adult and pediatric patients. Drawing on decades of expertise, Servo-c aims to enhance healthcare accessibility and affordability for a broader range of hospitals worldwide. The challenges associated with lung protection vary widely, and Servo-c is meticulously crafted to address them with safety, simplicity, and efficiency in mind. This design empowers healthcare professionals to deliver personalized respiratory treatments effectively. Equipped with all the essential functionalities required, Servo-c is an excellent choice for hospitals in the designated markets seeking a high-acuity ventilator at a cost-effective price point.
In March 2023: Allied Healthcare Products, Inc., a prominent manufacturer specializing in medical gas construction equipment, respiratory therapy apparatus, home healthcare solutions, and emergency medical supplies, has unveiled a set of strategic transformation measures to enhance operational efficiency. These initiatives are geared towards providing superior customer service while fostering growth and boosting profitability.
Report Scope and Segmentation -
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Forecast CAGR | 5.79% |
| 2032 Value Projection | USD 5.47 Billion |
| Market Size in 2023 | USD 9.60 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Product Type, Mode of Ventilation, and End-User |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. |
| Diet Soft Drinks Market Growth Drivers |
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Market Dynamics
Driver: Increasing prevalence of respiratory disorders.
Due to the ageing population, respiratory diseases, including lung cancer, asthma, and ARDS are rising. Mechanical ventilators are crucial in managing these conditions and driving market growth. Additionally, governments worldwide have been investing in healthcare infrastructure, including the procurement of mechanical ventilators, to prepare for public health emergencies and improve overall healthcare systems. This factor further boosts the market's growth.
Restraint: Lack of skilled healthcare personnel.
Proper use of mechanical ventilators requires trained healthcare professionals. Some regions may need more skilled personnel to operate and manage ventilators effectively. Mechanical ventilators also require regular maintenance and calibration to ensure proper functioning. Neglecting maintenance can lead to device malfunctions and compromise patient care.
Opportunity: Energy-efficient and infection-control ventilators.
Energy-efficient ventilators that reduce power consumption can find a niche in regions with unreliable power grids or limited access to electricity. Furthermore, developing ventilators with improved infection control features, such as antimicrobial surfaces and disposable components, can address concerns related to healthcare-associated infections. As a result, it will create new opportunities over the forecast years.
Challenge: Changing healthcare models.
Evolving healthcare models, such as a shift towards telemedicine and home-based care, may impact the traditional market for mechanical ventilators, necessitating adaptation and innovation. Besides, economic factors, such as currency fluctuations and economic downturns, can impact healthcare budgets and purchasing decisions, affecting the demand for ventilators.
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Some of the major players operating in the global Mechanical Ventilators market are:
• Allied Healthcare Products, Inc.
• Abbott
• Avasarala Technologies Ltd.
• Airon Corporation
• aXcent Medical GmbH
• Air Liquide
• Asahi Kasei Corporation
• Boston Scientific Corporation
• BIOTRONIK SE & Co. KG
• Bio-Med Devices, Inc.
• CorVent Medical
• Drägerwerk AG & CO. KGAA
• Fisher & Paykel Healthcare Limited
• Getinge AB
• GE Healthcare
• Hamilton Medical
• Hill-Rom Holdings, Inc.
• HEYER Medical AG
• Inovytec
• InnAccel Technologies Pvt Ltd.
• Koninklijke Philips N.V.
• Medtronic
• Metran Co., Ltd.
• Magnamed
• MicroPort Scientific Corporation
• Nihon Kohden Corporation
• OES Medical
• ResMed
• Schiller AG
• Smiths Group plc
• Stryker
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• TRITON Electronic Systems Ltd.
• Vyaire Medical, Inc.
• ZOLL Medical Corporation (Asahi Kasei)
Key Segments cover in the market:
By Product Type
• Intensive Care/Critical Care Mechanical Ventilators
• Neonatal Mechanical Ventilators
• Transport & Portable Mechanical Ventilators
• Others
By Mode of Ventilation
• Invasive Ventilation
• Non-invasive Ventilation
By End User
• Hospitals
• Home Care
• Ambulatory Surgical Center
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion) and volume (units). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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