Ventilator Market Rapid Growth Forecasted 2025
The global market for ventilators is experiencing a significant expansion in its size, thanks to the continuous rise in the global geriatric population base, escalating cases of preterm births, and the augmenting number of ICU beds. Researchers expect the market to continue witnessing tremendous growth in the years to come.
The prime target of this report is to provide clear and detailed information about the worldwide market for ventilators to consultants, stakeholders, and other participants of this market to assist them in making well thought of decisions about their businesses.
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Global Ventilator Market: Key Trends
In terms of mobility, intensive case ventilators emerged as the key segment of the global market for ventilators in 2017, thanks to the increasing demand for intensive care beds with ventilators across the world. The significant rise in ICU admission and re-admissions in emerging economies, together with, favorable reimbursement scenario is currently boosting the intensive case ventilators segment. Invasive ventilation interface has surfaced as the leading segment of this market, in terms of interface, and is expected to remain so, thanks to the widening base of applications of intensive care ventilators, especially in neurological diseases, respiratory diseases, and sleeping disorders.
Hospitals and clinics are the key end users of ventilators across the world. With the high financial capabilities of hospitals, making them capable of to purchasing expensive instruments and the availability of skilled professionals, the hospital segment is anticipated to continue on the top over the next few years.
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Global Ventilator Market: Market Potential
The global market for ventilators is expected to gain substantially from the rising investments, presence of favorable regulatory policies, and the significant surge in the healthcare industry in developing economies, especially in the Asian region, in the near future. However, the issues associated with the usage of mechanical ventilators, hesitation of physicians for technological transition, and the easy availability of comparatively cheaper products from local vendors may limit the growth of this market to some extent in the years to come.
Global Ventilator Market: Regional Outlook
Among all the regional markets for ventilators, North America held the leading position in 2017 and was closely followed by Europe and Asia Pacific, thanks to the significant rise in geriatric population and the increased number of smokers, leading to augmenting prevalence of respiratory diseases. The regional market is expected to remain on the top in the near future, thanks to the presence of a highly advanced healthcare system, increasing healthcare expenditure, and the presence of established players in this region.
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Global Ventilator Market: Competitive Analysis
The presence of a large pool of players points towards the competitive and fragmented structure of the global market for ventilators. Philips Healthcare (Netherlands), Medtronic (Ireland), ResMed (US), Becton, Dickinson and Co. (US), Dräger (Germany), Getinge (Sweden), Smiths Group (UK), GE Healthcare (US), Hamilton Medical (Switzerland), Fisher & Paykel (New Zealand), Zoll Medical (US), Air Liquide (France), Allied Healthcare Products (US), Schiller (Switzerland), and Airon Mindray (China) are some of the leading vendors of ventilators across the world. These vendors primarily rely on technological advancements to remain significant in this market. However, a shift in their focus towards mergers, acquisitions, and partnerships can be observed in the years to come.
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