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Mechanical Ventilators Market Trends Estimates High Demand By 2026 And The Top Key Players Are Becton, Dickinson & Company, Mindray Medical International Limited, Getinge Group, GE Healthcare, Hamilton Medical AG
Mechanical Ventilators
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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.
Competitive Insights
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.
Regional Insights
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.
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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.
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