Ventilators Market to Expand at a Healthy Growth Rate in the Coming Years

Rising prevalence of respiratory diseases, increasing incidence of preterm births, urbanization and growing pollution levels, high prevalence of tobacco smoking, rapid growth in the geriatric population, and rising number of ICU beds are the major factors driving the growth of the ventilators market.

What the Market Looks Like?

Predicted to grow at a CAGR of 8.0% during the forecast period, the global Ventilators market is estimated to reach USD 1,261.9 Million by 2023. North America accounted for the largest share of the ventilator market in 2017, followed by Europe and Asia Pacific.

On the basis of mobility, the intensive case ventilators segment accounted for the largest share of the global ventilators market. The large share of this segment is attributed to the rising number of ICU beds and rising adoption of equipping the ICU beds with ventilators.

On the basis of interface, the invasive ventilation segment accounted for the largest share of the ventilators market. The large share of this segment is due to the high prevalence of tobacco smoking, increasing prevalence of chronic diseases such as COPD & asthma, rapid growth in the geriatric population, and improving healthcare affordability in developed countries.

Based on end user, the hospitals & clinics segment accounted for the largest share of the ventilators market. The large share of this segment can be attributed to the increasing number of private and public hospitals, economic expansion and focus of government on broader healthcare policies, and increasing per capita income.

Based on type, the adult/pediatric ventilators segment held the largest market share of ventilators market. The large share of this segment can be attributed to the large patient population with severe COPD, asthma, and other chronic respiratory diseases; rising number of smokers; and rapid growth in the geriatric population.

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What Drives the Market?

The growth of the global market for Ventilators is primarily influenced by the following factors:
• Rising Prevalence of Respiratory Diseases
• Rapid Growth in the Geriatric Population
• Increasing Number of Preterm Births
• Rising Number of ICU Beds

Geographical growth scenario of Ventilators Market

North America accounted for the largest share of the ventilator market in 2017, followed by Europe and Asia Pacific. The rising geriatric population, high prevalence of smoking, high prevalence of respiratory diseases, highly developed healthcare system, high healthcare expenditure, and the presence of major market players in the US are the key factors attributed to the large share of ventilators market in North America.

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Leading market players and strategies adopted

The prominent players in the Ventilators market include Philips Healthcare (Netherlands), ResMed (US), Medtronic (Ireland), Becton, Dickinson and Company (US), Getinge (Sweden), Dräger (Germany), Smiths Group (UK), Hamilton Medical (Switzerland), GE Healthcare (US), Fisher & Paykel (New Zealand), Air Liquide (France), Zoll Medical (US), Allied Healthcare Products (US), Airon (US), Mindray (China), and Schiller (Switzerland).

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This release was published on openPR.