In its latest report, Ventilators Market Size, Share, Forecast, & Trends Analysis by Product (Instrument, Catheter, Mask, Tube), Mobility (Intensive Care, Portable), Interface (Invasive, Non-invasive), Age Group, Mode (Volume, Pressure), End User – Global Forecast to 2031, Meticulous Research® projects that the global ventilators market will reach $13.23 billion by 2031, growing at a CAGR of 8.3% from 2024 to 2031.
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The report identifies several drivers in the ventilators market, including the increasing establishment of intensive care units (ICUs) that require supporting systems and equipment, the rising incidence of respiratory disorders, and the rapid urbanization contributing to higher pollution levels. Furthermore, the aging population and the increase in preterm births are additional factors that drive the demand for ventilators. However, challenges such as the high costs associated with ventilators and a growing preference for alternative therapies could impede market expansion.
Emerging markets, particularly in the Asia-Pacific and Latin America regions, are expected to create additional growth opportunities due to advancements in healthcare infrastructure and a rising demand for home care therapeutic devices. Nonetheless, issues related to the adverse effects of ventilators on neonates and challenges in securing the necessary components for manufacturing ventilators continue to pose significant challenges to market growth.
Traditionally, invasive ventilators have dominated the ventilators market; however, these devices face limitations such as portability issues, patient discomfort, and restrictions based on age groups. In recent years, advancements in technology have led to the development of non-invasive and portable ventilators that can be used outside of hospital settings. Notably, Shinano Kenshi Co., Ltd. (Japan) is conducting research to create a wearable ventilator system designed for patients suffering from chronic obstructive pulmonary disease (COPD) or those recovering from lung transplants. This innovation aims to facilitate easier patient transportation compared to traditional ventilators.
Key Market Players
Key players in the ventilators market include:
- Schiller AG (Switzerland)
- Hamilton Medical AG (Switzerland)
- Koninklijke Philips N.V. (Netherlands)
- GE HealthCare Technologies, Inc. (U.S.)
- Medtronic plc (Ireland)
- Getinge AB (Sweden)
- ResMed Inc. (U.S.)
- Zoll Medical Corporation (U.S.)
- Drägerwerk AG & Co. KGaA (Germany)
- Fisher & Paykel Healthcare Limited (New Zealand)
- VYAIRE MEDICAL, INC. (U.S.)
The ventilators market is segmented based on product type, mobility, interface, age group, ventilation mode, and end-user category. The report provides a thorough evaluation of the competitive landscape and conducts a geographical analysis to identify regional and country-specific trends.
Among the various products examined, the ventilator accessories segment, which includes ventilator catheters, endotracheal tubes, and masks, is anticipated to dominate the market with a share of 36.8% in 2024. This dominance is attributed to the essential role that these accessories play in the functionality and safety of ventilators, as well as the increased emphasis on hygiene in hospitals and their ability to administer medications effectively.
Regarding mobility, intensive care ventilators are projected to account for a significant share of 76.2% in 2024. The demand for these ventilators in intensive care settings is driven by factors such as the increasing prevalence of chronic respiratory diseases, the number of patients admitted to critical care units, and the availability of reimbursement options for respiratory treatments.
In the interface segment, invasive ventilators are expected to maintain their leading position due to their widespread application in ICUs for managing patients with chronic respiratory diseases, neurological disorders, and sleep apnea.
When examining age groups, the adult and pediatric segment is predicted to hold the largest market share, primarily due to the higher prevalence of chronic and infectious diseases among the elderly population, who often require ventilatory support.
Concerning ventilation modes, volume mode ventilation is projected to dominate in 2024, driven by its widespread adoption in critical care settings due to its advantages, such as precise minute ventilation control and consistent tidal volume delivery.
Among end users, hospitals are anticipated to account for the largest segment of the market in 2024. This trend is attributed to the rising number of patients with respiratory illnesses and the availability of advanced medical technologies and skilled professionals in hospital settings.
Geographically, North America is expected to dominate the ventilators market in 2024, capturing a substantial share of 55.7%. This market leadership can be attributed to the region's well-established healthcare infrastructure, the rapid adoption of advanced technologies, the presence of leading market players, and the increasing demand for long-term and home healthcare solutions.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/ventilators-market-5093
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of product, mobility, interface, age group, mode, end user, and geography?
- What was the historical market size for ventilators across the globe?
- What are the market forecasts and estimates for the period 2024–2031?
- What are the major drivers, restraints, opportunities, and challenges in the ventilators market?
- Who are the key players operating in the ventilators market?
- What is the competitive landscape like?
- What are the recent developments in the ventilators market?
- What are the different strategies adopted by the major players in the ventilators market?
- What are the geographical trends and high-growth regions/countries?
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