Mechanical Ventilators Market: Snapshot
The global mechanical ventilators market is estimated to witness increased sales during forecast period. This increased sales rate is attributed to growing older population and rising cases of respiratory diseases. Mechanical ventilator is an artificial breathing device majorly used for treating patients with severe medical conditions. Growing number of acute respiratory distress syndrome (ARDS) and chronic obstructive pulmonary disease (COPD) in the worldwide population is driving the growth of the global mechanical ventilators market.
Among end-users, the global mechanical ventilators market is projected to gain significant amount of revenues from the hospitals segment. Key reason supporting this projection is remarkable increase in the number of hospital beds all across the world and growing number of critically ill patients.
In recent period, the global mechanical ventilators market is witnessing rising demand from all over the world owing to rising number of COVID19 patients. In this health condition, the patient’s oxygen levels are dropped as the virus affects lungs of patient. This situation makes their breathing process harder. As a result, the patient needs external breathing support such as mechanical ventilators. Thus, the increased number of COVID19 patients will drive the mechanical ventilators market during forecast period.
Many vendors in the global mechanical ventilators market are focused on increasing their efforts to fulfill the rising demand. They are strengthening their production capabilities. Besides, many new entrants are capitalizing this opportunity of increased demand. Several players in the global mechanical ventilators market are engaged in research activities. This scenario signifies increased efforts to offer technologically advanced products. In addition, partnerships and collaborations with private companies and governments are some of the key strategies that will remain on the top of the list during forecast period. All these factors are stimulating the growth of the global mechanical ventilators market.
- According to Transparency Market Research’s latest report on the global mechanical ventilators market for the historical period 2017–2018 and forecast period 2019–2027. The global mechanical ventilators market is driven by increase in incidence of chronic obstructive pulmonary disease (COPD), acute respiratory distress syndrome (ARDS) and rise in geriatric population. The management of the ventilator in patients with chronic obstructive pulmonary disease (COPD) and acute respiratory distress syndrome (ARDS) has a dramatic effect on the overall outcome.
- According to the report, the global mechanical ventilators market was valued at US$ 1.9 Bn in 2018 and is anticipated to expand at a CAGR of 12.8% from 2019 to 2027
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Constant Increase in Prevalence of Respiratory Diseases: Key Driver
- According to the World Health Organization (WHO), chronic respiratory disease comprise all such medical conditions that affect the airways and other lung structures. Some common chronic respiratory diseases are asthma, chronic obstructive lung disease, including chronic obstructive pulmonary disease, bronchitis and emphysema, lung cancer and neoplasms of respiratory and intrathoracic pulmonary heart disease and diseases of pulmonary circulation.
- According to WHO, around 65 million people suffer from chronic obstructive pulmonary disease (COPD) and 3 million die from it each year, making it the third-leading cause of death worldwide.
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Challenge For Patient Interfaces In Non-invasive Ventilation: Restraints
- Major challenges faced by non invasive ventilator manufacturers in propagating the adoption of such devices in the market include minimization of leakage between the mask and patient’s skin, maximization of patient comfort, ensuring patient compliance, and minimization of dead-space (CO2 rebreathing)
- Mask-induced patient injuries, lack of compliance by patients, and CO2 rebreathing are key issues that are critical to patients and clinical care providers. Such issues are expected to hamper the adoption of mechanical ventilators, especially in developed markets.
Global Mechanical Ventilators Market: Competitive Landscape
- This report profiles major players operating in the global mechanical ventilators market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global mechanical ventilators market is highly fragmented, with the presence of a number of international as well as regional players
- Leading players operating in the global mechanical ventilators market include
- Teleflex Incorporated
- VYAIRE
- Dragerwerk AG & Co. KGaA
- GE Healthcare
- Medtronic plc
- Koninklijke Philips N.V.
- Smiths Medical
- ResMed Inc.
- Bunnell Inc.,
- Getinge AB.
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Global Mechanical Ventilators Market: Key Developments
Key players in the global mechanical ventilators market are engaged in regulatory approvals, launch of new products, and acquisition & collaborative agreements with other companies and government. These strategies are likely to fuel the growth of the global mechanical ventilators market. A few expansion strategies adopted by players operating in the global mechanical ventilators market are:
- In April, 2020, U.S. government under the Defense Production Act- issues US $1.1Bn in ventilator contracts to Koninklijke Philips N.V. and G.E. Healthcare.
The report on the global mechanical ventilators market discussed individual strategies, followed by company profiles of manufacturers of mechanical ventilators. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global mechanical ventilators market.
TMR’s report on the global mechanical ventilators market studies past as well as current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global mechanical ventilators market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global mechanical ventilators market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ Product literature, annual reports, press releases, and relevant documents to understand the global mechanical ventilators market.
Secondary research also included internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global mechanical ventilators market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global mechanical ventilators market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global mechanical ventilators market.
The report delves into the competitive landscape of the global mechanical ventilators market. Key players operating in the global mechanical ventilators market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global mechanical ventilators market that have been profiled in this report.
Key Questions Answered in Global Mechanical Ventilators Market Report
- What is the scope of growth of product type companies in the global mechanical ventilators market?
- What will be the Y-o-Y growth of the global mechanical ventilators market between 2019 and 2027?
- What is the influence of changing trends in usage patterns on the global mechanical ventilators market?
- Will North America continue to be the most profitable market for mechanical ventilators providers?
- Which factors are anticipated to hamper the growth of the global mechanical ventilators market during the forecast period?
- Which are the leading companies in the global mechanical ventilators market?
Research Methodology
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global mechanical ventilators market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary research sources referred to by analysts during the study on of the global mechanical ventilators market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, and market intelligence managers, who contributed to the production of TMR’s study on the mechanical ventilators market as primary research sources.
These primary and secondary research sources have provided exclusive information during interviews, which serves as a validation from the mechanical ventilators market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global mechanical ventilators market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global mechanical ventilators market more reliably and accurately.
Regional Segmentation of Mechanical Ventilators Market
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Global Mechanical Ventilators Market - Segmentation
|
Product |
Critical Care Ventilators Neonatal Ventilators Transport and Portable Ventilators |
|
Interface |
Invasive Non-invasive |
|
End-user |
Home Care Hospitals and Clinics Ambulatory Surgical Centers Others |
|
Region |
North America Europe Asia Pacific Latin America Middle East & Africa |
