Global Mechanical Ventilator Market Overview
The global mechanical ventilators market is estimated to garner $4 billion by 2022. This will be supported with a CAGR of 5.4% from 2016 to 2022. The industry is marked for considerable progress in the next few years. Mechanical ventilation is a lifesaving intervention for patients with respiratory disorders or even respiratory failure. It is a form of breathing assistance in which a patient is connected to a ventilator through an endotracheal tube directly applied to the airway. It is also employed as a diagnostic tool to measure the static compliance of airway resistance and irregular functioning respiratory system. The market offers a wide variety of positive-pressure and negative-pressure ventilators for use across healthcare sector. Currently, intensive-care and portable mechanical ventilators are the two most widely used ventilators available in the market.
The increasing incidence of chronic diseases, such as chronic obstructive pulmonary disease (COPD), asthma, bronchitis, and other lung disorders, and increasing number of accidental emergencies lead to the substantial requirement of mechanical ventilators. The market is expanding to cater to these needs. In addition to these, the growing geriatric population, which is prone to respiratory emergencies is one of the key drivers of the mechanical ventilators market. In the U.S., the critically ill geriatric population accounted for around 52% of all the intensive care unit (ICU) admissions in 2015, among which, around 80% admissions were kept on ventilation. Apart from this, technological innovations in respiratory care devices, namely, non-invasive ventilation technology and portable mechanical ventilators, further supplement the growth of the ventilator market. The increase in preference for home care and portable ventilators for long-term ventilated patients is expected to be another major factor which will be influencing the market growth. On the contrary, the injuries associated with invasive mechanical ventilation for disorders, such as pneumonia, lung injury, and barotrauma, and the high cost of mechanical ventilators are the prime factors restricting the market growth.
The mechanical ventilators industry report covers the different segments of the industry. The mechanical ventilators market is segmented based on components, type, mode of ventilation, and age group. Based on components the market is further segmented into devices and services. Based on type, the market is further segmented into intensive care ventilator and portable/transport ventilator. Intensive care mechanical ventilators are the most widely used type of ventilators and hold a substantial part of the mechanical ventilators market share. However, portable/transport mechanical ventilators segment was reported to be the fastest growing segment, owing to technological innovation and shifting trends to home care ventilation. Based on the mode of ventilation, the market is segmented into non-invasive and invasive ventilators. Non-invasive ventilators are specifically designed for critically ill patients suffering from respiratory failure, congestive cardiac failure, and newborn infants. The non-invasive mechanical ventilators market share is expected to grow at a rapid pace because of patients’ convenience, less side effects along with faster recovery provided by these ventilators. Based on geography, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA.
Many companies are adopting product launches and expansions as their key development strategies to sustain in this market. For instance, Maquet Medical Systems USA have launched two new intensive care ventilators, namely, SERVO-U and SERVO-n in 2016. Mindray Medical International Limited, Becton Dickinson and Company (CareFusion), Philips Healthcare, Carl Reiner Gmbh, Getinge Group (Maquet), Draegerwerk AG & Co. KGaA (Drager), General Electric Company (GE Healthcare), Hamilton Medical AG, Covidien (Medtronic, Inc.), and Smiths Group Plc (Smiths-Medical) are few of the dominant players in the mechanical ventilators market.
- This report provides a detailed quantitative analysis of the current market trends and future estimations from 2015 to 2022, which assists in identifying the prevailing market opportunities.
- An in-depth analysis of various regions is likely to provide a detailed understanding of the current trends to the stakeholders to formulate region-specific plans.
- Comprehensive analysis of the factors that drive and restrain the growth of the mechanical ventilators market are provided.
- Key regulatory guidelines for the mechanical ventilators market are critically dealt with according to geography.
- A deep dive analysis of various regions provides insights that would allow companies to strategically plan their business moves.
- SWOT analysis enables to study the internal environment of the leading companies for strategy formulation.
MECHINICAL VENTILATOR MARKET KEY SEGMENTS:
By Product Type
- Intensive-care ventilator
- Portable/transport ventilators
- By mode of ventilation
- Invasive ventilation
- Non-invasive ventilation
By Age Group
- Pediatric and neonates
- North America
- Latin America
- Middle East