REDDING, Calif., June 20, 2024 /PRNewswire/ -- According to a
new market research report, "Ventilators Market by
Product (Instrument, Catheter, Mask, Tube) Mobility (Intensive
Care, Portable) Interface (Invasive, Non-invasive) Age Group
(Adult, Neonatal) Mode (Volume, Pressure, Dual) End User (Hospital,
ASC, Home Care) – Global Forecast to 2031", published by
Meticulous Research®, the ventilators market is
projected to reach $13.23 billion by
2031, at a CAGR of 8.3% from 2024 to 2031.
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A ventilator is a medical device designed to deliver oxygen into
a person's body through a tube inserted into the windpipe,
typically through the mouth or nose. Before entering the body, the
air passes through a humidifier and filter to ensure it is clean
and comfortable to breathe. Ventilators are equipped with
adjustable settings for controlling the breathing rate and the
volume of air delivered to the patient.
The growth of the ventilators market is driven by factors such
as the increasing number of intensive care units (ICUs) and ICU
beds, the rising incidence & prevalence of respiratory
diseases, rapid urbanization coupled with rising pollution levels,
the growth in the geriatric population, and the rising incidence of
preterm births. However, the high costs of ventilators and the high
preference for alternative oxygenation therapies restrain the
market's growth.
The increasing demand for homecare therapeutic devices and
emerging economies in Asia-Pacific
and Latin America are expected to
create market growth opportunities. However, the adverse effects of
ventilators on neonates and difficulties in maintaining component
supply chains pose challenges to the market's growth.
The report also includes an extensive assessment of the product
portfolio, geographic analysis, and key growth strategies adopted
by leading market players over the past three to four years. In
recent years, the ventilators market has witnessed several organic
and inorganic strategic developments. The key players profiled in
the ventilators market report are 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), and VYAIRE
MEDICAL, INC. (U.S.).
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Growing Geriatric Population to Fuel the Demand for
Ventilators
According to the Global Health and Aging Report by the World
Health Organization (WHO), between 2015 and 2050, the proportion of
the world's population over 60 years will nearly double from 12% to
22%. Similarly, by 2030, 1 in 6 individuals will be aged 60 years
or over globally. The number of people aged 60 and above will
increase to 1.4 billion by 2030 from 1 billion in 2020
globally.
The aging population is expected to contribute to a significant
rise in the number of individuals affected by chronic conditions
such as cardiovascular, neurological, and respiratory diseases.
With age, the risk of both chronic and infectious diseases, such as
lung infections, COPD, and other respiratory ailments, tends to
increase. Among the geriatric population, the prevalence of chronic
diseases is notably high, with approximately 64 out of every 1,000
individuals affected. Additionally, older adults face an elevated
risk of developing pneumonia following bacterial or viral
infections, often resulting in respiratory issues. As a result, the
rapidly aging population is anticipated to drive up the incidence
of respiratory and other chronic diseases, consequently leading to
heightened demand for various healthcare services and medical
equipment, including ventilators for critical care units.
The ventilators market is segmented by Product (Ventilator
Accessories [Ventilator Catheters, Endotracheal Tubes, Ventilator
Masks, and Other Ventilator Accessories], Ventilator/Instrument),
Mobility (Intensive Care Ventilators, Portable Ventilators),
Interface (Invasive Ventilators, Non-invasive Ventilators), Age
Group (Adult & Pediatric, Neonatal & Infant), Mode (Volume
Mode Ventilation, Dual/Combined Mode Ventilation, Pressure Mode
Ventilation, and Other Ventilation Modes), End User (Hospitals,
Homecare Settings, Ambulatory Surgical Centers (ASCs), and Other
End Users), and Geography.
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Among the products studied in this report, in 2024, the
ventilator accessories segment is expected to account for the
largest share of the market. The large market share of this segment
can be attributed to the extensive utilization of ventilator
accessories such as circuits and masks, the rising awareness
regarding hospital hygiene practices, and the additional
functionality of certain accessories in medication administration.
For instance, in January 2022,
Armstrong Medical Ltd. (Ireland),
launched the AquaVENT VT, dual heated breathing circuits to public
and private healthcare institutions in the Middle East. Breathing circuits are a part of
the ventilator system that direct the flow of the breathing gas
supplied to and from the patient. AquaVENT VT manages humidity
throughout the entire ventilator breathing circuit.
Based on mobility, in 2024, the intensive care ventilators
segment is expected to account for the largest share of the market.
The large market share of this segment can be attributed to the
increasing installation of ventilators in ICUs, the availability of
reimbursements for ventilation solutions and respiratory treatment
procedures, the growing number of patient admissions in CCUs due to
the increasing population afflicted with chronic and respiratory
infectious diseases, and the rising incidence of preterm births
worldwide. For instance, in July
2023, OMRON Corporation (Japan) launched the OMRON NE C106 Nebulizer,
designed to cater to all age groups. This device facilitates
precise drug delivery to target locations within the respiratory
tract, addressing conditions affecting both the upper and lower
airways.
Among the interfaces studied in this report, in 2024, the
invasive ventilators segment is expected to account for the largest
share of the market. The large market share of this segment can be
attributed to the widespread utilization of invasive ventilators in
ICUs for patients with chronic respiratory and infectious diseases,
neurological disorders, and sleep disorders. For instance, in
October 2021, Movair (U.S.) launched
Luisa, an advanced ventilator designed for versatile use across
various settings, including homes, institutions, and hospitals.
Luisa supports both invasive and non-invasive ventilation methods,
making it suitable for patients with chronic and acute respiratory
conditions requiring long-term ventilation.
Among the age groups studied in this report, the adult &
pediatric segment is expected to account for the largest share of
the market. The large market share of this segment can be
attributed to the high adoption of ventilation support among the
elderly population, their increased vulnerability to chronic and
infectious diseases such as COPD and lung infections, and the
rising consumption of tobacco. According to a report by the
Foundation for a Smoke-Free World (FSFW), in 2023, approximately
266 million individuals aged 15 years and older in India were tobacco product users. This
widespread usage contributes to various health conditions,
including ischemic heart disease (IHD), chronic obstructive
pulmonary disease (COPD), and stroke, which rank among the top
three causes of death in India. As
a result, there is a rising demand for critical care devices such
as ventilators and associated accessories.
Among the modes studied in this report, in 2024, the volume mode
ventilation segment is expected to account for the largest share of
the market. The large market share of this segment can be
attributed to the widespread adoption of volume-controlled
ventilators in intensive care units due to their advantages,
including precise minute ventilation and consistent tidal volume
delivery. Volume Controlled Ventilation (VCV) has traditionally
been a standard mode of controlled ventilation in anesthesia. In
VCV, a predetermined tidal volume is administered at a fixed rate,
particularly when the patient exhibits no spontaneous
breathing.
Among the end users studied in this report, in 2024, the
hospitals segment is expected to account for the largest share of
the market. The large market share of this segment can be
attributed to the considerable number of patients afflicted with
respiratory illnesses, the presence of skilled medical
practitioners in hospitals, and the accessibility to advanced
healthcare facilities equipped with state-of-the-art medical
devices such as ventilators. For instance, in India, the demand for non-COVID ventilators
has surged by 40-50%, with many hospitals opting to integrate these
life-saving devices as permanent fixtures. In August 2021, MAX Ventilator (India) partnered with Amptron Medical, Inc.
(U.S.) to manufacture ventilators meeting international standards,
ensuring their qualification in regulated markets like the U.S.
Geographically, in 2024, North
America is expected to account for the largest share of the
market. North America's
significant market share can be attributed to its well-established
healthcare infrastructure, the rising prevalence of chronic and
infectious diseases, the presence of major market players, and the
high adoption of technologically advanced medical equipment.
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Scope of the Report:
Ventilators Market Assessment—by Product
- Ventilator Accessories
- Ventilator Catheters
- Endotracheal Tubes
- Ventilator Masks
- Other Ventilator Accessories
(Other ventilator accessories primarily include interfaces,
sensors, nebulizers, oxygen & CO2 measurement
devices, circuit sets, and valve sets)
- Ventilator/Instrument
Ventilators Market Assessment—by Mobility
- Intensive Care Ventilators
- Portable Ventilators
Ventilators Market Assessment—by Interface
- Invasive Ventilators
- Non-invasive Ventilators
Ventilators Market Assessment—by Age Group
- Adult & Pediatric
- Neonatal & Infant
Ventilators Market—by Mode
- Volume Mode Ventilation
- Dual/Combined Mode Ventilation
- Pressure Mode Ventilation
- Other Ventilation Modes
(Other ventilation modes primarily include Synchronized
Intermittent-mandatory Ventilation, Assist-Control Ventilation,
Continuous Positive Airway Pressure (CPAP) Mode, Bilevel
Positive Airway Pressure (BIPAP), Airway Pressure Release
Ventilation, and High-Frequency Oscillatory Ventilation)
Ventilators Market—by End User
- Hospitals
- Homecare Settings
- Ambulatory Surgical Centers (ASCs)
- Other End Users
(Other end users primarily include emergency medical
services/transport [ambulance services or paramedic services],
nursing care centers, and military centers)
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