Global Ventilator Market, By Product Type (Intensive Care Ventilators, Portable Ventilators, and Neonatal Ventilators), Modality (Invasive Ventilation and Non-Invasive Ventilation), Ventilator Type (Adult Ventilators, Neonatal Ventilators, and Pediatric Ventilators), Mode (Combined-Mode Ventilation, Volume-Mode Ventilation, Pressure-Mode Ventilator, and Other), End User (Hospitals, Specialty Clinics, Homecare Settings, Long Term Care Centers, Rehabilitation Centers, and Others) - Industry Trends and Forecast to 2031.
Ventilator Market Analysis and Insights
The major factors driving the growth of the ventilator market are the increasing number of chronic diseases, the rising number of ICU beds, the rising number of preterm births, and emerging neonatal care technologies. However, the high cost of equipment and product recall is restraining the market growth. Growing healthcare infrastructure is an opportunity for the market because if investment in healthcare increases, it will lead to the high installation of advanced technology-based ventilator products in various healthcare facilities.
Data Bridge Market Research analyzes that the market is growing with a CAGR of 8.6% in the forecast period of 2024 to 2031 and is expected to reach USD 14,613.84 million by 2031 from USD 7,645.11 million in 2023.
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Year
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Product Type (Intensive Care Ventilators, Portable Ventilators, and Neonatal Ventilators), Modality (Invasive Ventilation and Non-Invasive Ventilation), Ventilator Type (Adult Ventilators, Neonatal Ventilators, and Pediatric Ventilators), Mode (Combined-Mode Ventilation, Volume-Mode Ventilation, Pressure-Mode Ventilator, and Other), End User (Hospitals, Specialty Clinics, Homecare Settings, Long Term Care Centers, Rehabilitation Centers, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, Rest of Europe, China, Japan, India, Australia, South Korea, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia-Pacific, Brazil, Rest of South America, South Africa and Rest of Middle East and Africa
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Market Players Covered
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Koninklijke Philips N.V., Air Liquide, Hamilton Medical, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Medtronic, Fisher & Paykel Healthcare Limited, Smiths Group plc, Getinge AB, Drägerwerk AG & Co. KGaA, Leistung Equipamentos LTDA, Penlon Limited, ResMed, Vyaire, Zoll Medical Corporation, and GE Healthcare, among others
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Market Definition
A ventilator is an equipment used in ICUs to assist patients in breathing when it is not possible for the patient to breathe by themselves. Ventilators may be temporarily or permanently used on the system (as in long-term care). The ventilator consists of a mechanical ventilator, an endotracheal tube, and a nasogastric drain. These ventilators are used in hospital environments, recovery, or home treatment. Ventilation devices supply oxygen to the patient's body to extract carbon dioxide. It is used to sustain life but does not treat sickness or medical conditions.
Global Ventilator Market Dynamics
This section deals with understanding the market drivers, restraints, opportunities, and challenges. All of this is discussed in detail below:
Drivers
- Increasing Prevalence of Chronic Respiratory Diseases
The prevalence of respiratory diseases is the leading cause of disability and death across the world. It is estimated that 65 million people are suffering from chronic obstructive pulmonary disease (COPD), and every year, 3 million people die. Respiratory diseases are the third leading cause of death across the world.
Chronic respiratory diseases are related to airways and other structures of the lung, in chronic respiratory diseases, ventilators are used to make patients breathe normally. For patients who are suffering from chronic respiratory diseases, the ventilator is equipment that is used to assist patients in breathing when they are unable to do so themselves, due to failure of the respiratory system. Ventilators attached to the tube are placed in the patient’s airway so that the ventilator can deliver breaths into the patient’s lungs, due to which the high prevalence of chronic respiratory diseases has propelled the demand of the market.
- Increasing Geriatric Population Prone to Respiratory Disorders
The elderly population brings a greater chance of health issues, and the rapid growth in the geriatric population is more prone to various types of respiratory disorders. The geriatric population group aged 65yrs and this old age can increase the chances of different diseases as elder people possibly have a lower quality of life and decreased self-efficacy.
Elderly patients who are suffering from different types of diseases are increasingly opting for intensive care unit (ICU) treatment with ventilators. According to the study by National Center for Biotechnology Information, the use of ventilators in ICU more often in elderly patients (64%) as compared to younger patients (47%), due to which increasing anti-aging population is boosting the demand of the market.
According to the World Health Organization and the United Nations, in 2050 the expected growth in geriatric population is 116.20% around the world, each country in the world will experience an increase in population aged 60 years or above. The savior cases in elderly patients are directly hospitalized in the intensive care unit which requires a ventilator for their survival, for this reason, the increasing anti-aging population is propelling the market growth.
Opportunity
- Increasing Healthcare Expenditure
Growing healthcare infrastructure is an opportunity for the market, because if investment in healthcare increases it will lead to the high installation of advanced technology-based ventilator products in various healthcare facilities.
The government plays a vital role in improving the healthcare sector providing health benefits to individuals with the help of some health insurance programs, medicare, and other facilities. Governments have also funded health facility that helps patients get hassle-free expensive treatment. Government healthcare subsidies for the various types of healthcare facilities play a significant role in providing more extensive healthcare access to patients due to which increasing healthcare expenditure is boosting the market growth.
Restraints/ Challenges
- Side Effects Associated with the Usage of Ventilators
Ventilators have been associated with serious and common risks that impact the health of the patients, due to which increasing various problems associated with the usage of ventilators is hampering the demand for market growth.
One of the most common and serious risks for patients being on the ventilator is pneumonia. The breathing tube that is put into the airway of patients can allow bacteria to enter the lungs of the patients. Breathing tube also creates a problem for the patients to cough, coughing helps patients to clear their airways of lung which cause infections.
These problems associated with ventilators occur because of the high levels of oxygen or forced airflow from the ventilator. Using a ventilator also puts patients at risk of serious skin infections and blood clots. Moreover, these problems are also damaging to the vocal cords from the breathing tubes. After removing the breathing tubes, patients may also find it hard to breathe or speak and for this reason, increasing problems associated with the usage of ventilators are restraining the market growth.
- High Cost of Ventilators
Ventilators are specialist ICU devices that are majorly used as monitoring technology for critical respiratory care patients. It is a typically expensive device, due to which the adoption of devices is higher in hospitals than in other healthcare facilities. Also, ventilators are associated with significantly higher daily costs for the treatment of patients in the intensive care unit. The maintenance cost of ventilators is also expensive in terms of battery replacement; due to which the high cost of ventilators is hampering the market growth.
Different ventilators have different gas delivery designs, and proportional solenoid (PSOL) valve control, including turbine-based air supply or a combination of the two systems. Different ventilators have different costs to purchase along with maintenance costs.
A ventilator is a lifesaving expensive medical device that can be operated by skilled professionals, small hospitals and clinics cannot purchase such type of expensive medical devices due to their expensive maintenance and purchasing costs. Thus , the high cost of ventilators are restraining the market growth.
Recent Development
- In June 2022, Frost & Sullivan selected Dräger for its 2022 Global Neonatal Devices & Neonatal Respiratory Care New Product Innovation Award due to its extensive expertise and best-in-class capabilities with customer value as a strategic imperative. With this award company get recognition across the world, which will help it to growth in the market
- In August 2020, Smiths Groups confirms the contract of producing 10,000 ventilators for the U.K. government. The production tends to be rapidly increased to meet the high growth of ventilators in the market
- In May 2020, Hamilton Medical launched INTElliVENT ASV, which acts as a personal assistant uses physiological information from patients and sets goals and limitations to control the automatic and continuous release of carbon dioxide and oxygen levels in both passive and active patients.Error! Hyperlink reference not valid
- In May 2020, Air Liquide increased the production of respirators to provide 10,000 respirators in 50 days. The company has a major focus to provide necessary medical services to save lives
- In March 2020, Penlon Limited began operations as part of its national operation to manufacture NHS air conditioners. The action is to support other countries' efforts to design, manufacture, and assemble their ventilators
Global Ventilator Market Scope
The global ventilator market is segmented into five notable segments which are on the basis of product type, modality, ventilator type, mode, and end user. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Product Type
- Intensive Care Ventilators
- Portable Ventilators
- Neonatal Ventilators
On the basis of product type, the global ventilator market is segmented into intensive care ventilators, portable ventilators, and neonatal ventilators.
Modality
- Non-Invasive Ventilation
- Invasive Ventilation
On the basis of modality, the global ventilator market is segmented into non-invasive ventilation and invasive ventilation.
Ventilator Type
- Adult Ventilators
- Neonatal Ventilators
- Pediatric Ventilators
On the basis of ventilator type, the global ventilator market is segmented into adult ventilators, neonatal ventilators, and pediatric ventilators.
Mode
- Combined-Mode Ventilation
- Volume-Mode Ventilation
- Pressure-Mode Ventilator
- Other
On the basis of mode, the global ventilator market is segmented into combined-mode ventilation, volume-mode ventilation, pressure-mode ventilator, and other.
End User
- Hospitals
- Specialty Clinics
- Long Term Care Centers
- Rehabilitation Centers
- Homecare Settings
- Others
On the basis of end user, the global ventilator market is segmented into hospitals, specialty clinics, long term care centers, rehabilitation centers, homecare settings, and others.
Global Ventilator Market Regional Analysis/Insights
The global ventilator market is analyzed, and market size insights and trends are provided by product type, modality, ventilator type, mode, and end user.
The countries covered in this market report are the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, Rest of Europe, China, Japan, India, Australia, South Korea, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia-Pacific, Brazil, Rest of South America, South Africa and Rest of Middle East and Africa.
North America is expected to dominate the global ventilator market due to the technological advancement in the ventilators. The U.S. is expected to dominate the North America region in terms of market share and revenue and will continue to flourish its dominance during the forecast period. Germany is expected to dominate the Europe region due to the rising usage of instruments and consumables of diagnostics. Japan is expected to dominate the Asia-Pacific region due to growing R&D investments and the launch of new products that are boosting the market growth.
The country section of the report also provides individual market-impacting factors and changes in regulations that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of global brands and their challenges faced due to competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Ventilator Market Share Analysis
The global ventilator market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the global ventilator market are Koninklijke Philips N.V., Air Liquide, Hamilton Medical, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Medtronic, Fisher & Paykel Healthcare Limited, Smiths Group plc, Getinge AB, Drägerwerk AG & Co. KGaA, Leistung Equipamentos LTDA, Penlon Limited, ResMed, Vyaire, Zoll Medical Corporation, and GE Healthcare, among others.
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