The new report by Expert Market Research titled, ‘Global Ventilators Market Size, Share, Scope, Trends, Analysis, Report and Forecast 2023-2031’, gives an in-depth analysis of the Global Ventilators Market, assessing the market based on its segments like application, end user, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2031)
- Historical Market Size (2022): USD 3.8 billion
- Forecast CAGR (2023-2031): 10.3%
- Forecast Market Size (2031): USD 9.1 billion
The market for global ventilators has grown as the most common respiratory ailments worldwide are chronic obstructive pulmonary disease (COPD) and asthma. According to the World Health Organization (WHO), chronic obstructive pulmonary disease (COPD) is the third biggest cause of death worldwide, with roughly 3.23 million deaths projected in 2019.
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Lung disorders are on the rise because of changing lifestyles and increased air pollution. People are turning to smoke and drugs because of their increased stress levels because of their professional lives. Lung disorders are caused by all these harmful behaviors and air pollution
A ventilator is a machine that blows air into a patient’s lungs to help them breathe (exchange of oxygen and carbon dioxide). Ventilation is a type of artificial respiration.
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Based on mobility, the market is divided into:
- Intensive Care Ventilators
- High-End ICU Ventilators
- Mid-End ICU Ventilators
- Basic ICU Ventilators
- Portable/Transportable Ventilators
Based on the interface, the market is divided into:
- Invasive Ventilation
- Non-Invasive Ventilation
Based on the type, the market is divided into:
- Adult/Pediatric Ventilators
- Infant/Neonatal Ventilators
Based on the mode, the market is divided into:
- Combined-Mode Ventilation
- Pressure-Mode Ventilation
- Volume-Mode Ventilation
Based on the end use, the market is divided into:
- Hospitals and Clinics
- Home care
- Ambulatory Care Centres
- Emergency Medical Services
The regional markets for ventilators include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Ventilators Market Trends
The demand for ventilators had risen dramatically during the COVID-19 outbreak, as corona-infected persons typically have breathing problems. Another important factor driving the market is the growing geriatric population; the global geriatric population is increasing.
Key Market Players
The major players in the market are Philips Healthcare, ResMed Corp., Medtronic plc, Vyaire Medical Inc., Smiths Group plc, and others.
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