New York, United States, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The Global Ventilator Market Size is expected to reach USD 7.10 Billion By 2032, at a CAGR of 6.4% during the forecast period 2022 to 2032.
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A ventilator, also known as a mechanical ventilator or respirator, is a vital medical device that assists individuals with breathing difficulties. Primarily used in intensive care units (ICUs), it supports patients with respiratory failure, lung disorders, or critical illnesses. By providing a controlled supply of oxygen-rich air to the lungs and removing carbon dioxide, ventilators facilitate proper gas exchange. Advanced models offer customizable ventilation settings, including tidal volume, respiratory rate, and positive end-expiratory pressure (PEEP), tailored to the patient's needs.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the “Global Ventilator Market Size, Share, and COVID-19 Impact Analysis, By Mobility (Intensive Care Ventilators and Portable/transportable ventilators), By Type (Adult/Pediatric Ventilators and Neonatal/infant ventilators), By Interface (Invasive Ventilators and Non-invasive Ventilators), By End User (Hospitals & Clinics, Ambulatory care centers, Emergency Medical Services, and Home care settings), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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In 2022, the high-end ICU segment accounted for around 56.3% market share
On the basis of mobility, the global ventilator market is segmented into intensive care ventilators and portable/transportable ventilators. The high-end ICU ventilators segment holds a significant share in the intensive care ventilator market for several reasons. ICU ventilators are designed to provide advanced and precise respiratory support to critically ill patients in intensive care settings, making them crucial for managing complex medical conditions. The high-end ICU ventilators offer a wide array of sophisticated features such as advanced monitoring capabilities, various ventilation modes, precise control of tidal volumes, and adjustable positive end-expiratory pressure (PEEP), ensuring optimal ventilation management tailored to each patient's needs.
The adult/pediatric ventilators segment is expected to grow faster over the forecast period
Based on the type, the global ventilator market is segmented into adult/pediatric ventilators and neonatal/infant ventilators. The adult/pediatric ventilators segment is anticipated to experience faster growth over the forecast period due to several key factors. These ventilators cater to both adult and pediatric patient populations, making them versatile and widely applicable in various healthcare settings. As the awareness of respiratory diseases and their management in pediatric patients increases, there is a growing demand for specialized ventilators that can provide tailored respiratory support to this vulnerable population.
The invasive ventilators segment has dominated the market over the forecast period
Based on the interface, the global ventilator market is segmented into invasive ventilators and non-invasive ventilators. The invasive ventilators segment has emerged as the dominant force in the ventilator market for several reasons. Invasive ventilators are widely used in critical care settings, especially in intensive care units (ICUs), to provide life-saving respiratory support to patients with severe respiratory failure or acute respiratory distress syndrome (ARDS). They involve the insertion of a tube into the patient's airway, delivering precise control over ventilation parameters.
The home care settings segment is expected to grow at a CAGR of around 6.7% during the forecast period
Based on the end-user, the global ventilator market is segmented into hospitals & clinics, ambulatory care centers, emergency medical services, and home care settings. The home care settings segment of the ventilator market is projected to experience the highest growth during the forecast period for several compelling reasons because there is a growing trend towards shifting healthcare services from hospitals to home settings to reduce healthcare costs and improve patient comfort and convenience.
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Asia-Pacific is predicted to grow at a significant CAGR of around 6.8% over the projected period.
Based on region, Asia-Pacific is expected to experience substantial growth during the forecast period in the ventilator market due to several factors. The region's large and rapidly expanding population, coupled with increasing incidences of respiratory diseases, drives the demand for ventilators. Additionally, growing healthcare infrastructure and investments in medical facilities, particularly in countries like China and India, contribute to market expansion. Moreover, rising awareness about the importance of critical care and advancements in healthcare technology propel the adoption of ventilators in Asia-Pacific.
North America held the largest market share due to the high prevalence of chronic respiratory conditions and an aging population in North America contributed to increased demand for ventilators. Additionally, the region has experienced significant investments in healthcare facilities, enabling better access to critical care equipment like ventilators. Moreover, proactive government initiatives, supportive reimbursement policies, and well-established healthcare systems have further propelled the growth of the ventilator market in North America.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. major players in the global ventilator market include Koninklijke Philips N.V., ResMed, Medtronic, Fisher & Paykel Healthcare Limited, Dragerwerk AG & CO. KGAA, Nihon Kohden Corporation, Getinge AB, Asahi Kasei Corporation, Air Liquide, Vyaire Medical, Inc., GE Healthcare, Hamilton Medical, Smiths Group PLC, Allied Healthcare Products, Inc., Metran Co., Ltd., and Leistung Engineering Pvt. Ltd. And Other Key Vendors.
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Recent Developments
- In June 2021, Vyaire Medical, Inc. has formed an alliance with GenWorks Healthcare Limited. The cooperation in India broadens the company's reach and increases access to high-quality pulmonary screening, testing, and treatment.
- In April 2021, Getinge AB has received FDA approval for a variety of software applications for its Servo-u and Servo-n ventilators. In addition, the business acquired FDA marketing clearance for Servo-u MR in the United States. This aided the corporation in expanding its product line and strengthening its brand identity.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global ventilator market based on the below-mentioned segments:
Ventilator Market, By Mobility
- Intensive Care Ventilators
- Portable/transportable ventilators
Ventilator Market, By Type
- Adult/pediatric Ventilators
- Neonatal/infant ventilators
Ventilator Market, By Interface
- Invasive Ventilators
- Non-invasive Ventilators
Ventilator Market, By End-User
- Hospitals & Clinics
- Ambulatory care centers
- Emergency medical services
- Home care settings
Ventilator Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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