The Role Of Ventilators In Supporting Patients With Chronic Respiratory Diseases: Strengthening the Growth Trajectory of the Ventilators Market

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What Is the Expected CAGR for the Ventilators Market Through 2025?
In the past few years, the size of the ventilators market has seen a significant increase. It is projected to expand from $4.5 billion in 2024 to $4.94 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.6%. The historic rise in this market can be traced back to several reasons, including the prevalence of respiratory diseases, surgical procedures, the presence of intensive care units (icus), technological innovations and an aging demographic.

What's the Projected Size of the Global Ventilators Market by 2029?
It is anticipated that the ventilator market will experience substantial growth in the coming years, escalating to a value of $7.17 billion by 2029 with a compound annual growth rate (CAGR) of 9.8%. This expansion throughout the forecast period can be credited to factors such as telemedicine and remote patient monitoring, individualized medicine, advancements in technology, and investments in hospital infrastructure. Significant trends projected for this period include the use of portable and transportable ventilators, advanced modes of ventilation, incorporation of digital health and telehealth, and the development of innovative ventilation technologies.

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Top Growth Drivers in the Ventilators Industry: What's Accelerating the Market?
An increase in respiratory illnesses is fuelling the growth in the ventilators market. Persistent respiratory conditions like asthma, bronchitis, pneumonia, among others caused by various bacterial and viral infections, are propelling the need for ventilators. These ventilators are respiratory machines used to aid breathing in patients suffering from chronic respiratory conditions. For example, the Australian Institute of Health and Welfare reported in 2023 that around 30% of Australians claimed to have long-lasting respiratory diseases. In addition, 5.1 million Australians, constituting 20% of the total populace, reported having allergic rhinitis or 'hay fever,' while 2.7 million (11%) had asthma, and 2.0 million (8.0%) had chronic sinusitis, from an estimated 7.5 million people suffering from these ailments (ABS 2022). The occurrence of infectious diseases like Coronavirus, which affects the lungs causing pneumonia and other respiratory issues, is contributing to the escalation in ventilator market growth.

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What Trends Will Shape the Ventilators Market Through 2029 and Beyond?
Firms operating in the ventilator industry are progressively enhancing their ventilator manufacturing capacities in response to the growing need caused by the COVID-19 pandemic. The coronavirus causes COVID-19, which is a respiratory illness that results in pneumonia and other respiratory disorders due to infection in the lungs. Patients struck with this virus experience severe pneumonia and lung malfunction, necessitating ventilator assistance for breathing. For instance, Medtronic, a prominent manufacturer of medical devices, boosted its ventilator production by 40%. Meanwhile, Philips set a goal to quadruple its ventilator production capacity to accommodate the surging demand.

What Are the Main 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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Which Top Companies are Driving Growth in the Ventilators Market?
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

Which Regions Will Dominate the Ventilators Market Through 2029?
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

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