Mechanical Ventilators Market Revenue to Rise Substantially Owing to Increasing End-use Adoption

Mechanical Ventilators Market Analysis:
Mechanical ventilators provide support to a person suffering from insufficient breathing or chronic respiratory diseases. A ventilator helps a patient to carry out the process of inhale and exhale by providing an appropriate amount of air inflow to meet the body’s oxygen demand. A mechanical ventilator pushes a combination of oxygen and air into the patient’s lungs. They also help in maintaining a constant low pressure in the body, called positive end-expiratory pressure (PEEP) which ensures that the air sacs present in the lungs don’t collapse. The patient is connected to the ventilator via an endotracheal tube that is inserted in their mouth all the way down to the trachea or main airway. A ventilator helps a patient to breathe until the patient gets better to the state where they don’t require to be put on a ventilator. Growing requirements across the healthcare industry for various surgeries, operations and to treat people suffering from chronic respiratory diseases have made ventilators extremely important equipment to save people’s life.

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Growing cases of chronic obstructive pulmonary disease (COPD) and increasing geriatric population are the major factors driving the market growth
The number of people suffering from chronic obstructive pulmonary diseases (COPD) and other breathing-related diseases has been increasing at an alarming rate across the world. As per an updated World Health Organization (WHO) report, more than 235 million people suffer from asthma annually and 200 million people suffer from COPD. Also, approximately 3 million people die annually from COPD, which is about 6% of total deaths across the globe. Chronic obstructive pulmonary diseases are a group of lung diseases that make it difficult to breathe by blocking the airflow. Growing cases of such respiratory diseases have caused a major threat to the global world population. In order to combat such fatal diseases, healthcare sectors across the world are extensively investing in mechanical ventilators. Ventilators provide support to people suffering from respiratory diseases but also help in providing oxygen to people undergoing surgery or post-surgery. Further, a growing geriatric population has also boosted the market growth. As per a report released in 2015 by the World Health Organization (WHO), the global geriatric population will reach 2.1 billion by the year 2050. The geriatric population is highly prone to catch or develop respiratory diseases due to aging and weakening the immune system. To ensure that life expectancy doesn’t decrease, the governments across the globe are highly investing in mechanical ventilators to create a robust healthcare sector. These factors are ensuring market success by creating a continuous demand for mechanical ventilators across the globe.

High costs and health complications to hamper the market growth
Mechanical ventilators require a high amount of initial investments as well as maintenance. They are a costly technology to acquire, which most of the poor, underdeveloped, and developing nations can’t afford. Further, multiple patients after the usage of ventilators have developed serious health concerns. Complications like pneumonia, pneumothorax, and bronchopleural fistula could develop over time. These health issues can lead to various negative impacts on the body functioning such as high intracranial pressure, impairment of renal and hepatic functions, gastric distensions, respiratory alkalosis, and low cardiac output.

Technological upgradations and new innovations to create lucrative market opportunities
Growing cases of chronic respiratory diseases have made the healthcare industry more alarmed to develop new technologies and upgrade traditional mechanical ventilators. New developments will help in the development of efficient, compact, and portable ventilators which can provide the same support in patient’s home or while traveling. These will ensure the safety of a person round the day and can provide breathing support anytime. Further, the development of an exclusive home healthcare market will create a whole new opportunity for mechanical ventilators. Compare to the older versions of ventilators the new technologically upgraded ones are much more reliable and cost-effective. Also, growing investments towards the betterment of healthcare infrastructure worldwide will increase the demand for mechanical ventilators and create a lucrative market opportunity.

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Mechanical Ventilators Market, by Product:
Critical care segment will be the most lucrative till 2027
The critical care ventilators segment will have a dominating share in the global market and it is expected to register a significant revenue during the forecast timeframe. Critical care ventilators are majorly used in hospitals, clinics, and other medical institutions for the treatment of respiratory issues as well as during or post-surgery for various other treatments. A growing number of hospitals across the globe with increased adoption by these institutions are driving the growth of the critical care segment. They are highly reliable, cost-effective, and efficient which is motivating institutions to install them over other types. Further, the rise in intensive care units and beds across the globe will create lucrative opportunities for the growth of the critical care ventilator segment.

Mechanical Ventilators Market, by Region:
North America to hold the largest market share
North America region is expected to hold the largest market share in the global mechanical ventilators market during the forecast period. Growing cases of chronic respiratory diseases, increasing geriatric population, presence of market players, and robust and advanced healthcare industry are the major factors driving the market growth. Further, a high prevalence of smoking is also leading to increased respiratory issues and increasing demand for ventilators.

Asia-Pacific region to grow at a significant rate
Asia-Pacific region is anticipated to grow at a significant rate in the mechanical ventilators market during the forecast timeframe. Growing investments by governments in the healthcare industry, the development of healthcare infrastructure, and the rise in the geriatric population and respiratory diseases are the major factors driving the market growth in the region. Further, technological advancements and rising government healthcare policies to provide better treatment facilities are fueling the market growth. Also, the region has rapid developments in new hospitals and clinics to cater to the huge population, which increases the intensive care beds as well as demand for mechanical ventilators too.

Key Participants in the Global Mechanical Ventilators Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Some of the significant mechanical ventilators market players include Medtronic, Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V., Smiths Group plc, Getinge AB, ResMed, VYAIRE, Bunnell Incorporated, GENERAL ELECTRIC COMPANY, and Teleflex Incorporated.

Market players prefer inorganic growth strategies to expand into local markets. Mechanical ventilators market players are emphasizing more on advanced product development and merger & acquisition. These are the common strategies followed by established organizations. To emphasize more on the competitor analysis of market players, Porter’s five forces model is explained in the report.

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