Global Ventilators Market: Overview
Multiple factors are leading to increase in demand for ventilators. Some of the include increased focus on intensive care and rapidly rising population of geriatric population worldwide. To compound the situation further is increase in chronic diseases. As the world sees failing health owing to lifestyle changes and demographics shift, market for ventilators chart an upward growth.
Therefore, it is easy to see why the global market for ventilators is expected to grow at an impressive CAGR (Compound Annual Growth Rate), translating to a good generation of market opportunities over the forecast period of 2019-2027.
Global Ventilators Market: Competitive Landscape
The global ventilators market is undergoing critical developments in its landscape. It is setting the tone for future competition as well as paving the road to growth over the forecast period.
The global ventilators market is slightly fragmented and key players in the market landscape include Philips Healthcare (Netherlands), ResMed (US), Medtronic (Ireland), Becton, Dickinson and Company (US), Getinge (Sweden), Dräger (Germany), Smiths Group (UK), Hamilton Medical (Switzerland), GE Healthcare (US), Fisher & Paykel (New Zealand). In order to maintain competitive edge, players enter strategic collaborations work towards product development.
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Global Ventilators Market: Key Trends and Drivers
The global ventilators market is set to grow on an upward trajectory, due to factors such as rise in pre-term births and rise in ageing population. Some of these are explained below
- Geriatric population is on a rise worldwide. One in six people will be in the age group 65 and above by the end of the year 2026. The situation will be more complex in North America and Europe where the ratio would be 1 in 4. To add to it, the year 2018 has already created a landmark situation. The year is historical in the sense that for the first time since the beginning of life, number of people over the age 65 outnumbered that below the age of 5. And, this is not it. There is also a rise in number pf pre-term births that increases demands for ventilator care.
- Rise in lung related problems in rising quickly. Part of the problem is change in lifestyle. As work days get longer and stress levels right, people move to unhealthy habits such as smoking and drugs. Another reason for rise in respiratory diseases is also increase in air pollution that has pulled down immune system of a whole generation. All this contributes to related diseases. This might in turn lead to increase in use of ventilators, pushing global ventilators market to more strength. What further helps the market grow is rise in disposable incomes in emerging economies, making people able to focus more on their well-being. Besides, as more women join work force, they too become an untapped opportunity ready to generate revenue for the market.
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Global Ventilators Market: Geographical Analysis
One of the most lucrative regions in the world in terms of market growth is Asia Pacific Region Excluding Japan (APEJ). And, this trend is set to continue throughout the forecast period of 2019-2027. This significant growth in the global ventilators market owes to rise in older demographics, increase in chronic diseases, cardiovascular diseases and respiratory diseases. To add to this, the governments in this region are proactive. They are focusing their efforts and investments at improving health care outcomes.
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
- 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?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across 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.