Mechanical Ventilators Market Size, Growth and SWOT Analysis by Key Players Becton, Dickinson & Company, Getinge Group, GE Healthcare, Hamilton Medical AG, Medtronic Plc, Smiths Medical, Draeger Medical GmbH, Philips Respironics
Rising number of admissions in the intensive care units for continuous monitoring of critical and severely ill patients is expected to boost the market growth. For instance, according to the American Association for the Surgery of Trauma, in 2011, 790,257 hospitalizations involving mechanical ventilation were reported. In 2015, the Centers for Disease Control & Prevention (CDC) stated that acute injury and chronic obstructive pulmonary diseases (COPD) are major disorders responsible for ICU admissions. According to the results of Burden of Obstructive Lung Disease (BOLD) 2014, a multinational study to find prevalence of COPD reported that the prevalence of COPD in Germany was 5.9%, 19.1% in South Africa, and 11.9% in Mexico City of the total country’s population. Moreover, the rise in geriatric population suffering from slow recovery process of various chronic diseases is expected to augment growth of the global mechanical ventilators market. For instance, according to the National Council of Aging, in 2014, around 80% of the adults in the U.S. suffer from at least one chronic condition. The rising demand for emergency treatment of prolonged illness is also expected to drive growth of global mechanical ventilators market. However, high costs of the devices and shrinking profit margins of the major market players are expected to hinder the market growth.
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On the basis of product type, the global mechanical ventilators market is segmented into:
Critical Care Mechanical Ventilators
Neotonal Intensive Care Mechanical Ventilators
Portable Mechanical Ventilators
Transport Mechanical Ventilators
On the basis of modality, the global mechanical ventilators market is segmented into:
On the basis of end user, the global mechanical ventilators market is segmented into:
On the basis of region, the global mechanical ventilators market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global mechanical ventilators market and is expected to retain its dominance over the forecast period, owing to rising number of patient admissions in emergency wards due to critical health conditions and severe injuries that require external support for survival. For instance, according to the Society of Critical Care Medicine, in 2015, over 5.7 million patients were admitted to the intensive care units (ICU) in the U.S. for intensive or invasive monitoring, airway support, stabilization of chronic medical problems, and breathing disorders.
Furthermore, Asia Pacific is expected to witness a significant growth in the market, owing to developments in healthcare infrastructure, rising awareness among patients and manufacturers, and development of innovative and cost efficient solutions. For instance, in September 2017, the department of Neurology at the All India Institute of Medical Sciences (AIIMS) developed a portable life supporting ventilator that is 450 times smaller than the conventional counterparts and multiple times cheaper than the price of normal mechanical ventilators.
The key players operating in the global mechanical ventilators market include Becton, Dickinson & Company, Mindray Medical International Limited, Getinge Group, GE Healthcare, Hamilton Medical AG, Medtronic Plc, Smiths Medical, Draeger Medical GmbH, Philips Respironics, Maquet Medical Systems GmbH, and others. Market players are focused towards providing technologically advanced products to sustain their presence in the market. For instance, in 2016, Maquet Medical Systems introduced two new ventilators named SERVO-U and SERVO-n that provides user-friendly interface to the clinicians dedicated to neonatal intensive care solution.
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