Homecare Ventilator Market: Introduction

A ventilator is a device that supports breathing. Ventilators assist in getting oxygen into the lungs and removal of carbon dioxide from the body. They help in easy breathing, especially to the people who have lost their ability to breathe. They can partially support in breathing or can control breathing entirely. Depending upon a patient’s condition, a ventilator can help support or completely control breathing.

Global Homecare Ventilator Market: Competitive Landscape

Key players operating in the global homecare ventilator market include Fisher & Paykel Healthcare Corp. Ltd., Philips Healthcare, Medtronic Plc, ResMed Inc., and Vyaire Medical Inc. The market is much consolidated with the presence of less number of manufacturers. Increase in strategic collaborations and new product launches are expected to drive the global market during the forecast period.

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Medtronic Plc 

Medtronic plc. is a prominent global company that offers medical technology, services, and solutions. Medtronic operates through four segments: Cardiac & Vascular Group, Diabetes Group, Restorative Therapies, and Minimally Invasive Therapies. The company’s segments cater to hospitals, physicians, clinicians, and patients in approximately 160 countries.

Philips Healthcare

Philips Healthcare is a subsidiary of Koninklijke Philips N.V., commonly known as Royal Philips.

Philips Healthcare operates through four divisions: Diagnostic Imaging Systems, Home Healthcare, Customer Services, and Patient Care & Clinical Informatics. The company focuses on complete cycle of care, i.e., disease prevention through screening, diagnosis, and monitoring; and health management. Philips Healthcare has presence in around 100 countries with 450+ products across the world.

Global Homecare ventilator Market: Dynamics

The global homecare ventilator market is driven by various factors at regional, national, as well as global level. Increasing prevalence of respiratory diseases and growing preference to home health care ventilators are major factors contributing to the growth of the global market. Furthermore, increase in investment by public and private sectors for the advancement of health care and surge in technological innovations are projected to propel the global market during the forecast period. Moreover, existing market players are deploying advanced techniques and strategies to develop novel processes for manufacturing of technologically enhanced devices for homecare ventilators. This is anticipated to boost the demand for homecare ventilators for diagnosis of diseases during the forecast period. However, less awareness among people, especially in developing regions and lack of skilled professionals are likely to restrain the global market during the forecast period.

Increase in Prevalence of Respiratory Diseases to Drive the Market

According to statistics available with the World Health Organization (WHO), chronic respiratory diseases account for over 5 million deaths each year. The quality of air is deteriorating, particularly in countries where the economy is largely dependent on pollution-intensive industries. About 80% of COPD deaths occur in low and middle income countries. This has translated into increase in prevalence of chronic respiratory diseases, and consequently the demand for medical devices used in the treatment of these diseases. A ventilator is one such medical device used in case of loss of airway anatomy due to edema, trauma, burns, and infection; loss of protective airway mechanism due to intoxicants, brain injury, and strokes; inability to oxygenate appropriately; and in case of any expected clinical course.

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Increasing Preference for Homecare Ventilators to Drive the Market

The number of patients requiring prolonged homecare ventilation is rapidly increasing. The WHO estimates that 235 million people suffer from asthma across the world. Studies have indicated that patients on ventilator support are no profit centers for hospital administration. This has induced hospitals to move such patients to alternate care settings.

Home care givers are often faced with providing specialty care to adult and pediatric patients with medically complex needs. The patients require use of ventilator in order to maintain adequate breathing to sustain life. Homecare ventilators have become more efficient, portable, and easy to operate in different care delivery settings. Hence, usage of portable and transport ventilators has become a preferable choice for both hospitals and patients. Furthermore, usage of portable ventilator in home health care reduces a patient’s cost of stay in the hospital and enhances the quality of life and integration with the community.

Global Homecare Ventilator Market: Segmentation

Based on type, the global homecare ventilator market is divided into:

  • Pneumatic Ventilators
  • Electronic Ventilators
  • Electro-pneumatic Ventilators

Based on age-group, the global homecare ventilator market is bifurcated into:

  • Adult
  • Pediatric

Based on mode, the global homecare ventilator market is segregated into:

  • Combined-mode Ventilation
  • Volume-mode Ventilation
  • Pressure-mode Ventilation
  • Other Modes

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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