Global Ventilator Market Size By Interface (Non-invasive Ventilator, Invasive Ventilator), By Product (Portable Ventilator and Intensive Care Ventilator), By End-User (Hospitals And Home Care), By Geography Scope And Forecast
Global Ventilator Market Size By Interface (Non-invasive Ventilator, Invasive Ventilator), By Product (Portable Ventilator and Intensive Care Ventilator), By End-User (Hospitals And Home Care), By Geography Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Ventilator Market size was observed at USD 856 Million and is expected to stay at USD 1,492 Million by 2030, reporting a staggering CAGRrate of 7.70 % from 2024 to 2030.
The increasing number of illnesses in the elderly population and the need for artificial ventilation are expected to fuel the market. The rising cases of chronic respiratory diseases worldwide are also one of the driving factors for the market. Furthermore, the increasing number of cases of lung disorders in various age groups, including children, is also helping the market to grow. Air pollution also poses a high risk to all age groups and is surging respiratory infections. This factor is acting as a driving force for the market.
Global Ventilator Market Definition
Ventilator, also known as mechanical ventilation is, a device that healthcare facilities use to offer breathing aid to patients. These devices are mainly used by medical facilities such as large hospitals, nursing homes, personal residences for long-term patients, and home care institutions. These devices are helpful for patients who are suffering from lung, pulmonary and respiratory disorders. Some disorders affect the lungs, which directly affects the respiratory system, and a person cannot breathe properly. Patients with such disorders are immensely benefitted from this device.
Some of its crucial benefits include better oxygenation, support to lungs, less damage to the respiratory system, and others. Ventilator are portable devices that can also be taken from one place to another. People on long-term respiratory care can be easily shifted from hospitals to homes with Ventilator. Even ambulances are also now designed with Ventilator for emergencies.
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Global Ventilator Market Overview
The rising generality of diseases such as chronic obstructive pulmonary disease and asthma around the world is pushing the use of Ventilator. Moreover, the market is expected to grow due to the rising pre-mature birth and chronic diseases in the elderly population. Also, rising developments in the healthcare sector such as new hospitals and ICUs, emergency beds, and dedicated respiratory units, are driving the global Ventilator Market to grow. In recent times, the Covid-19 pandemic has also fuelled the Ventilator Market.
The virus affects the body’s respiratory system, resulting in breathing difficulties, so Ventilator are also used for COVID patients. The increasing COVID cases are also pushing the market for growth. Additionally, the global Ventilator Market is witnessing technological improvements, such as mobile or portable ventilator devices. The demand for home care services is also rising, directly helping the global Ventilator Market.
Global Ventilator Market Segmentation Analysis
The Global Ventilator Market is segregated Based on Interface, Product, End-User, and Geography.
Ventilator Market, By Interface
Non-invasive Ventilator
Invasive Ventilator
Based on the Interface, the global market is further bifurcated into Non-invasive Ventilator and Invasive Ventilator. The invasive Ventilator segment is predicted to lead the market with the highest growth rate. These Ventilator are primarily employed in ICUs for chronic disease patients. Some patients require all-time respiratory support, and invasive Ventilator become important.
Ventilator Market, By Product
Portable Ventilator
Intensive care Ventilator
Based on Product, the global market is further bifurcated into Portable Ventilator and Intensive Care Ventilator. Intensive care Ventilators are expected to witness remarkable growth in the forecasted period. These Ventilators are primarily employed in hospitals that have well-equipped intensive care beds.
Ventilator Market, By End-User
Hospitals
Home care
Ambulatory surgical care
Others
Based on End-Users, The global Ventilator Market is segmented into Hospitals, Home Care, Ambulatory Surgical Care, and Others. The home care devices segment is expected to gain a leading market share due to the use of portable devices easily installed at homes.
Ventilator Market, By Geography
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
Based on Geography, the market is divided into North America, the Middle East, Asia Pacific, Europe and Africa, and Latin America. North America is anticipated to lead the regional segment in the market. The rising elderly population and pre-mature birth are the factors for growth.
Key Players
The Global Ventilator Market report also offers clear insights into the competitive landscape and the leading players in the global Ventilator Market. The leading players in Global Ventilator Market are Koninklijke Philips N.V., GE Healthcare, Fisher & Paykel Healthcare Ltd, ResMed, Zoll Medical Corporation, Hamilton Medical AG, Medtronic, Vyaire Medical, Drägerwerk, Schiller AG, Getinge AB, and others.
Our market evaluation also includes a specially dedicated sector for major players. Our analysts offer a transparent view of the financial statements of all the key players, along with product benchmarking and SWOT analysis.
Key Developments
In April 2021, Getinge AB publicized the US FDA approval for software servo-u and servo-n Ventilator. The company also got the US marketing approval for Servo-u MR from the US FDA. This move helped the company to shine in the healthcare and Ventilator Market.
In May 2021, VYAIRE Medical supplied five vela Ventilator, two CPAP and BIPAP, and oxygen concentrators to India to help India during the heavy outburst of the COVID-19 pandemic and to establish its strong brand presence in India.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Ventilator Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Ventilator Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Koninklijke Philips N.V., GE Healthcare, Fisher & Paykel Healthcare Ltd, ResMed, Zoll Medical Corporation, Hamilton Medical AG, Medtronic, Vyaire Medical, Drägerwerk, Schiller AG, Getinge AB, and others.
SEGMENTS COVERED
By Interface, By Product, By End User, and By Geography
CUSTOMIZATION SCOPE
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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