Press release
Ventilators Market Size Forecasted To Achieve $7.17 Billion By 2029 With Steady Growth
Ventilators
What Is the Ventilators Market Size and Projected Growth Rate?
The ventilators market has experienced strong growth in recent years. It will increase from $4.5 billion in 2024 to $4.94 billion in 2025, with a CAGR of 9.6%. The factors contributing to this growth include the prevalence of respiratory conditions, increasing surgical procedures, the demand for intensive care unit (ICU) equipment, technological advancements, and an aging population.
The ventilators market is expected to expand considerably, reaching $7.17 billion in 2029 at a CAGR of 9.8%. This growth is supported by the rise of telemedicine, advancements in personalized treatment, hospital infrastructure improvements, and innovations in ventilation technology. Noteworthy trends include portable systems, enhanced ventilation modes, digital health integration, and smart respiratory devices.
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What Are the Major Segments in the Ventilators Market?
The ventilators market covered in this report is segmented -
1) By Type: Intensive Care Unit Or Critical Care, Transport Or Portable Or Ambulatory, Neonatal
2) By Interface: Invasive, Non-Invasive
3) By End-User: Hospitals And Clinics, Home care, Ambulatory Care Centers, Other End Users
Subsegments:
1) By Intensive Care Unit (ICU) Or Critical Care Ventilators: Invasive Ventilators, Non-invasive Ventilators
2) By Transport Or Portable Or Ambulatory Ventilators: Battery-operated Portable Ventilators, Lightweight Transport Ventilators
2) By Neonatal: High-frequency Oscillatory Ventilators, Conventional Neonatal Ventilators
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What Are The Driving Ventilators Market Evolution?
Increasing rates of respiratory illnesses are propelling the ventilators market. Conditions like asthma, pneumonia, and chronic bronchitis require ventilator support. In 2023, the Australian Institute of Health and Welfare reported that 30% of Australians had long-term respiratory issues, including 5.1 million with allergic rhinitis, 2.7 million with asthma, and 2 million with chronic sinusitis. The COVID-19 pandemic also contributed to this trend, boosting ventilator demand.
Which Firms Dominate The Ventilators Market Segments?
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
What Trends Are Driving Growth in The Ventilators Market?
The ventilator market has seen significant expansion, driven by the high demand for ventilators during the COVID-19 pandemic. As the disease affects the lungs and causes pneumonia, many patients require ventilator support. In response to the surge in demand, Medtronic increased its ventilator production by 40%, while Philips aimed to boost its production capacity by four times.
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Which Is The Largest Region In The Ventilators 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Ventilators Market?
2. What is the CAGR expected in the Ventilators Market?
3. What Are the Key Innovations Transforming the Ventilators Industry?
4. Which Region Is Leading the Ventilators Market?
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