“The global ventilators market projected to grow at a CAGR of 8.0%.”
The ventilators market is expected to reach USD 1,261.9 million by 2023 from an estimated USD 859.9 million in 2018, at a CAGR of 8.0% from 2018 to 2023. Rising prevalence of respiratory diseases, urbanization and growing pollution levels, and high prevalence of tobacco smoking are the major factors driving the growth of the ventilators market. In addition, the growing demand for home care therapeutics and higher growth in developing countries like China, India, and Brazil are driving the demand for ventilators.
“The portable/transportable ventilators segment is expected to register the highest CAGR during the forecast period.”
On the basis of mobility, the global ventilators market is segmented into intensive care ventilators and portable/transportable ventilators. The intensive care ventilators segment is further categorized into high-end ICU ventilators, mid-end ICU ventilators, and basic ICU ventilators. The portable/transportable ventilators segment is expected to grow at the highest CAGR during the forecast period. The growing prevalence of respiratory diseases, increasing preference for portable ventilators in homecare, and growing applications of portable ventilators such as ambulatory services, emergency medical services, and home care are driving the growth of the portable ventilators segment in the market.
“The non-invasive ventilation segment expected to grow at the highest CAGR during 2018 to 2023.”
On the basis of interface, the ventilators market is segmented into invasive ventilation and non-invasive ventilation. The non-invasive ventilation segment is expected to grow at the highest CAGR during the forecast period. The high growth in this segment can be attributed to the shift in preference from invasive ventilators to non-invasive ventilators owing to the complications associated with invasive ventilators and the patient compliance, cost-effectiveness, and ease of treatment offered by non-invasive ventilators.
“The combined-mode ventilation segment expected to grow at the highest CAGR during 2018 to 2023.”
On the basis of mode, the ventilators market is segmented into combined-mode ventilation, pressure-mode ventilation, volume-mode, and others. The combined-mode ventilation segment is expected to grow at the highest CAGR during the forecast period. This growth is attributed to its advantages over the conventional pressure-mode ventilation and volume-mode ventilation. The ability of combined-mode ventilation to provide both modes of ventilation makes it a desirable product.
“APAC is projected to witness the highest growth during the forecast period.”
North America held the largest share of the global ventilators market in 2017. On the other hand, the Asia Pacific region is expected to witness the highest CAGR during the forecast period, owing to the rapidly developing healthcare industry in China and India, growth in aging population, rising life expectancy, rising per capita income, increasing investments in the region by key market players, the expansion of private-sector hospitals & ambulatory surgical centers to rural areas, the availability of low-cost labor, and presence of a favorable regulatory environment.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–72%, Tier 2–14% and Tier 3–14%
- By Designation – C-level–14%, Director Level–43%, Others–43%
- By Region – North America–37%, Europe–12%, Asia Pacific–25%, Latin America–13%, Middle East & Africa–13%
Some of the major market players in the ventilators market are Philips Healthcare (Netherlands), ResMed (US), Medtronic (Ireland), Becton, Dickinson and Company (US), Getinge (Sweden), Dr?ger (Germany), Smiths Group (UK), Hamilton Medical (Switzerland), GE Healthcare (US), Fisher & Paykel (New Zealand), Air Liquide (France), Zoll Medical (US), Allied Healthcare Products (US), Airon Mindray (China), and Schiller (Switzerland).
The report analyzes the various ventilators and their adoption pattern. It aims at estimating the market size and future growth potential of the global ventilators market for different segments such as mobility, type, interface, mode, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, SWOT analysis, recent developments, and key market strategies.
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening the market.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the global ventilators market. The report analyzes the global ventilators market by mobility, mode, interface, type, end user, and region
- Product Development/Innovation: Detailed insights on upcoming trends and new product launches in the global ventilators market
- Market Development: Comprehensive information on the lucrative emerging regions by mobility, mode, interface, type, end user
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global ventilators market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and products of leading players in the global ventilators market