The global mechanical ventilators market has been anticipated by the analysts at Transparency Market Research (TMR) to witness the presence of a mammoth count of regional and local participants. These participants could be as capable as their international equivalents on the part of efficiently serving the changing needs of consumers and penetrating neighboring markets. Some of the leading participants operating in the global mechanical ventilators market have been expected to include Becton, Dickinson and Company, Smiths Medical, GE Healthcare, Philips Healthcare, and Dragerwerk AG & Co. KgaA.
Regional and local participants could find opposition in their entry into national markets due to differing regulatory requirements in various countries. However, multinational participants have been expected to consider acquisition of or partnership with startups to compete well in local geographies of the global mechanical ventilators market.
According to a TMR market intelligence report, the global mechanical ventilators market could rise at a CAGR of 4.8% by revenue to expand from US$1.1 bn in 2015 to US$1.8 bn by 2024. Portable mechanical ventilators as a product have been predicted to register a stronger 7.6% CAGR during the forecast period 2016–2024. North America could continue its dominance with a 39.7% share forecasted until 2024.
COPD and Other Respiratory Diseases Spur Demand in Highly Polluted Nations
Over 5.0 mn deaths are reported each year on account of chronic respiratory diseases, according to WHO. There has been a disturbing spike in the frequency of respiratory diseases such as chronic obstructive pulmonary disease (COPD) owing to worsening air quality, especially in countries that are largely reliant on pollution-intensive industries for economy. This has been foreseen to augment the demand for medical devices, much to the advantage of the world mechanical ventilators market.
The authors of the report have pointed out the catalysis of the sale of mechanical ventilators and a staggering increase in demand in the world mechanical ventilators market from trauma centers and hospitals. The telling rise in geriatric population susceptible to chronic respiratory emergencies could be another factor improving the growth of the world mechanical ventilators market. In the U.S., most of the critically ill ICU admissions in 2015 were ventilated patients.
Injuries Hurt Demand, Shrinking Profits Interrupt Growth
The international mechanical ventilators market has been prophesied to witness a few deterrents during the course of the forecast period. Injuries occurring due to prolonged usage, budget limitations encountered by small healthcare facilities, and decreasing profit margins of vendors could be top challenges faced by players in the international mechanical ventilators market.
However, attractive regions such as Asia Pacific that struggle with pollution-related healthcare problems have been envisaged to set the tone for a significant growth in the international mechanical ventilators market. Although invasive mechanical ventilators could take the lead in the current scenario of the international mechanical ventilators market, non-invasive counterparts have been envisioned to showcase a rapid growth rate through 2024. End users such as home healthcare could account for a higher growth rate in the international mechanical ventilators market until the concluding forecast year. Hospitals, on the other hand, have been foretold to record a staggering share in respect of revenue.
The information presented in this review is based on a TMR report, titled, “Mechanical Ventilators Market (Product - Critical Care Mechanical Ventilators, Neonatal Intensive Care Mechanical Ventilators, Portable Mechanical Ventilators, and Transport Mechanical Ventilators; Mode - Invasive Mechanical Ventilators and Non-invasive Mechanical Ventilators; End User - Hospitals, Trauma Centers, and Home Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global mechanical ventilators market has been segmented as presented below:
Global Mechanical Ventilators Market - By Product
- Critical Care Mechanical Ventilators
- Neonatal Intensive Care Mechanical Ventilators
- Portable Mechanical Ventilators
- Transport Mechanical Ventilators
Global Mechanical Ventilators Market - By Mode
- Invasive Mechanical Ventilators
- Non-Invasive Mechanical Ventilators
Global Mechanical Ventilators Market - By End User
- Trauma Centers
- Home Healthcare
Global Mechanical Ventilators Market - By Region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- Republic of South Africa
- Rest of Middle East and Africa
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