Ventilators Market Insights: Comprehensive Analysis, Emerging Trends, and Future Growth Forecasts

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Ventilators Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $7.39 billion In 2028 At A CAGR Of 10.1% :

The ventilators market size has grown rapidly in recent years. It will grow from $4.55 billion in 2023 to $5.02 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to respiratory conditions prevalence, surgical procedures, intensive care units (icus), technological advancements, aging population.

The ventilators market size is expected to see rapid growth in the next few years. It will grow to $7.39 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to telemedicine and remote monitoring, personalized medicine, technological innovations, hospital infrastructure investment. Major trends in the forecast period include portable and transport ventilators, advanced ventilation modes, digital health and telehealth integration, innovation in ventilation technologies.

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Ventilators Market Major Segments
The ventilators market covered in this report is segmented -

1) By Type: Intensive Care Unit/Critical Care, Transport/Portable/Ambulatory, Neonatal
2) By Interface: Invasive, Non-Invasive
3) By End-User: Hospitals and Clinics, Home care, Ambulatory Care Centers, Other End Users

Key Driver - The Role Of Ventilators In Supporting Patients With Chronic Respiratory Diseases

The rising prevalence of respiratory diseases is driving the ventilators market. Chronic respiratory diseases such as asthma, bronchitis, pneumonia, and others resulting from different bacterial and viral infections and other causes will boost the demand for ventilators. The ventilators are respiratory devices that are used to support respiration in patients with chronic respiratory diseases. For instance, in 2023, according to Australian Institute of Health and Welfare, an Australia-based organization, nearly 30% of Australians said they had long-term respiratory illnesses. 5.1 million Australians (20% of the total population) had allergic rhinitis, also known as 'hay fever,' 2.7 million (11%) had asthma, and 2.0 million (8.0%) had chronic sinusitis, out of the expected 7.5 million people with these disorders (ABS 2022). Coronavirus infects the lungs causing pneumonia and other respiratory disorders affecting patients' respiration. The emergence of such infectious diseases resulting in a pandemic is driving the ventilator market growth.

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Prominent Trend - The Impact Of Covid-19 On The Global Ventilator Market

The companies in the ventilator market are increasingly expanding their ventilator production capabilities realizing the current demand due to the outbreak of the COVID-19 pandemic. COVID-19 is a respiratory disease caused by the coronavirus that infects the lungs causing pneumonia and other respiratory conditions. The patients affected with the virus suffer fromsevere pneumonia and lung dysfunction resulting in the need for ventilator support for respiration. For instance, Medtronic, a leading medical device manufacturer increased its ventilator production by 40%. Also, Philips targeted to increase its ventilator production capacity by 4-fold, to meet the rising demand.

Ventilators Market Players
Major companies operating in the ventilators market include Philips Healthcare, ResMed Inc., Medtronic plc, Becton Dickinson and Company, GE Healthcare, Hamilton Medical AG, Drägerwerk AG & Co. KGaA, Getinge AB, Smiths Group plc, Fisher & Paykel Healthcare Corporation Limited, Air Liquide S.A., Allied Healthcare Products Inc., Teleflex Incorporated, Mindray Medical International Limited, Vyaire Medical Inc., SCHILLER Healthcare India Private Limited, ZOLL Medical Corporation, Asahi Kasei Corporation, Biovo Technologies Ltd., Breas Medical AB, Enexor BioEnergy LLC, Sechrist Industries Inc., Spiritus Medical LLC, Ventis Medical Inc., Airon Corporation, Beijing Aeonmed Co. Ltd., Demax Medical Technology Co. Ltd., FW Equipment Co. Ltd., Hamilton Medical Inc., Heyer Medical AG

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the ventilator devices market in 2023. Western Europe was the second-largest region in the ventilator device market. The regions covered in the ventilators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ventilators Market Report Structure
3. Ventilators Market Trends And Strategies
4. Ventilators Market - Macro Economic Scenario
5. Ventilators Market Size And Growth
…..
27. Ventilators Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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