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High Flow Ventilators Market 2024-2032: Future Outlook, Industry Share, Global Trends And Key Players Analysis
High Flow Ventilators Market Share
According to The Business Research Company's, The high flow ventilators market size has grown strongly in recent years. It will grow from $31.78 billion in 2023 to $34.87 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to enhanced monitoring and control systems, growing geriatric population, expansion in home healthcare, demand in emergency medicine, applications in post-operative care.
The high flow ventilators market size is expected to see rapid growth in the next few years. It will grow to $51.95 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to focus on non-invasive ventilation, neonatal and pediatric care demand, improved humidification systems, expansion in home healthcare settings, emergency medicine utilization. Major trends in the forecast period include customization and versatility, focus on patient comfort, integration of monitoring technology, home-based high flow ventilation, adoption in critical care settings.
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Market Drivers and Trends:
The increasing prevalence of chronic obstructive pulmonary disease (COPD) is expected to propel the growth of the high flow ventilators market going forward. COPD refers to a chronic inflammatory lung disease that makes it difficult to breathe and is characterized by airflow limitation that is not fully reversible and is usually progressive. High-flow ventilators can be beneficial in COPD management by improving oxygenation, reducing the work of breathing, and providing positive end-expiratory pressure, especially during exacerbations or instances requiring advanced respiratory support. For instance, in March 2023, according to the Scottish Public Health Observatory, a Scotland-based multi-organization collaboration, the COPD rates showed an upward trend as the impact of COVID-19 eased, with rates for males rising from 83.2 to 97.6 cases per 100,000 new cases, and for females increasing from 72.6 to 97.3 for the financial year 2021 to 2022. Therefore, an increasing prevalence of COPD will fuel the high flow ventilators market growth.
The growing popularity of portable high flow ventilators has emerged as a key trend gaining popularity in the high flow ventilators market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For example, in October 2021, Movair, a US-based respiratory therapy company, launched an Advanced Ventilator-Luisa. The Luisa ventilator is easy to use, compact, and portable, and has an intuitive interface and simple controls. It uniquely designed life-supporting ventilator with high-flow oxygen therapy to provide advanced respiratory support to patients with respiratory distress, including those suffering from COVID-19. This unique product has a variety of features with advanced monitoring capabilities, including real-time monitoring of airway pressure, flow, and volume.
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Major Key Players of the Market:
ResMed Inc.; Hamilton Medical AG; Hersill SL; ZOLL Medical Corporation; Percussionaire Corporation; Vyaire Medical Inc.; Koninklijke Philips NV; Medtronic Plc; Acutronic Medical Systems AG; Essex Industries Inc.; Getinge AB; Drägerwerk AG & Co KGaA; Fisher & Paykel Healthcare Corporation Limited; BVMed eV; Metan Co. Ltd.; AirSep Corporation; Intersurgical Ltd.; Laerdal Medical AS; Magnamed Tecnologia Médica S.A.; Medin Medical Innovations GmbH; Mercury Medical LLC; Mindray Medical International Limited; Nihon Kohden Corporation; O-Two Medical Technologies Inc.; Pulmodyne Systems Inc.; Sechrist Industries Inc.; Shenzhen Mindray Bio-Medical Electronics Co. Ltd.; Smiths Group plc; SunMed Equipment Co. Ltd.; Ventec Life Systems Inc.; Weihai Strongmedical Sci-Tech. Co. Ltd.; Westmed Inc.
High Flow Ventilators Market 2024 Key Insights:
• The high flow ventilators market size will grow to $51.95 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%.
• Rising Copd Prevalence Propels High Flow Ventilators Market
• Advanced Ventilator-Luisa In High Flow Ventilators Market
• North America was the largest region in the high flow ventilators market in 2023
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