Press release
Mechanical Ventilator Market forecast to witness phenomenal growth opportunities by 2024
Global Market Insights, Inc.
Mechanical ventilator market size should witness significant growth due to increased prevalence of respiratory disorders over the past two decades. Mechanical ventilator is a life support system that helps patients breathe when they are unable to maintain adequate alveolar ventilation. Maximum patients who need provision of a ventilator because of severe illness are cared in hospital’s intensive care unit. The device is used among patients who have suffered a spinal cord injury, stroke, neuromuscular disorder or other illness.
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Growing elderly population coupled with augmented prevalence of chronic condition and acute disease will boost the global mechanical ventilator market size. Increasing prevalence of chronic obstructive pulmonary disease is the chief driving factor for the industry. According to WHO, approximately 3 million deaths were caused due to COPD in 2015 and more than 90% of COPD deaths occurred in low and middle-income countries.
Increasing critical care admissions, rising introduction of modern technologies and ventilation modes that prevent lung injury, reduced hospital stays timeframe of patients and improving the synchrony between ventilator and patient will propel the industry size. Dearth of standardization for diverse ventilation modes, risk of infection and lung damage; and lack of clinical evidence to support novel technology may hamper the business size.
Supported mode segment will grow at significant rate over the forecast period. Facilities like reduced spontaneous respiratory rate, overcoming resistance of the artificial airway, vent circuit and demand valves will drive the segment share. Moreover, prevention of respiratory muscle atrophy and improved patient comfort will offer lucrative growth opportunities.
Pediatric and neonatal market will witness a substantial growth due to increasing preterm birth and rising infant mortality in developing economies. Furthermore, growing use of home non-invasive ventilation technology for adults and acute respiratory failure to complex respiratory diseases will fuel the adult market.
Browse key industry insights from the report Mechanical Ventilator Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/mechanical-ventilator-market
Non-invasive ventilator market will grow at a robust rate pertaining to increasing prevalence of critically ill patients suffering from congestive cardiac and respiratory failure. Growing use of system due to less side effects, patient’s convenience, enhanced patient safety and fast recovery will drive the segment growth.
Hospital will account for the largest revenue share. Increasing prevalence of lung and heart diseases coupled with growing number of hospitals with ventilator facility at low cost will drive the segment growth. Home health care segment will witness significant growth owing to increased preference by patients to minimize hospital expenses.
U.S. mechanical ventilator market will witness significant growth over the forecast period owing to presence of favorable reimbursement policies for ICU procedures, rising R&D expenditure in healthcare sector and rising prevalence of COPD and chronic disorders. As per WHO statistics, 12.7 to 14.7 million adults have COPD in the U.S. According to British lung Foundation, approximately 2% of the entire population and 4.5% of all people aged over 40 are living with diagnosed COPD in UK. Rising prevalence of lung disease and asthma will fuel the business size.
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China will expand at rapid growth rate over the forecast period pertaining to emerging economy, growing number of intensive care units and rise in the awareness of advanced solutions. India will grow at a substantial rate due to improved healthcare infrastructure, increase in per capita income and a rise in government initiatives to develop the healthcare sector.
Some of the industry players are Becton Dickinson and Company, Dragerwerk, Philips Healthcare, Covidien, GE Healthcare, Maquet, Smiths Medical, Fisher and Paykel Healthcare, Getinge Group, Medtronic, ResMed, and Hamilton Medical. The industry players focus on strategic acquisition and advanced product launch to expand their business portfolio as main strategies. For instance, Becton Dickinson acquired C.R. Bard and CareFusion to enhance the company’s respiratory health product portfolio.
Browse Related Reports:
Homecare Oxygen Concentrators Market Size By Product (Portable Oxygen Concentrators, Compressed Gas Oxygen Cylinders, Liquid Oxygen), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, Japan, Brazil, South Africa), Price Trends, Competitive Market Share & Forecast, 2016 – 2023
https://www.gminsights.com/industry-analysis/homecare-oxygen-concentrators-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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