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 due to 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
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Data Bridge Market Research analyses that the Global Ventilator Market is expected to grow 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.
Key Findings of the Study
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.
Report Scope and Market Segmentation
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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. (Netherlands), Air Liquide (France), Hamilton Medical (Switzerland), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Medtronic (Ireland), Fisher & Paykel Healthcare Limited (New Zealand), Smiths Group plc (U.K.), Getinge AB (Sweden), Drägerwerk AG & Co. KGaA (Germany), Leistung Equipamentos LTDA (Brazil), Penlon Limited (U.K.), ResMed (U.S.), Vyaire (U.S.), Zoll Medical Corporation (U.S.), and GE Healthcare (U.S.), among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis
The global ventilator market is segmented into five notable segments based on product type, modality, ventilator type, mode, and end user.
- On the basis of product type, the global ventilator market is segmented into intensive care ventilators, portable ventilators, and neonatal ventilators
In 2024, the intensive care ventilators segment is expected to dominate the global ventilator market
In 2024, the intensive care ventilators segment is expected to dominate the market with a market share of 54.01% due to high adoption and hospitalization rates.
- On the basis of modality, the global ventilator market is segmented into non-invasive ventilation and invasive ventilation
In 2024, the invasive ventilation segment is expected to dominate the global ventilator market
In 2024, the invasive ventilation segment is expected to dominate the market with a market share of 64.07% due to its extensive use in neurological disorders
- On the basis of ventilator type, the market is segmented into adult ventilators, neonatal ventilators, and pediatric ventilators. In 2024, the adult ventilators segment is expected to dominate the market with the market share of 55.58%
- On the basis of mode, the market is segmented into combined-mode ventilation, volume-mode ventilation, pressure-mode ventilation, and others. In 2024, the combined-mode ventilation segment is expected to dominate the market with the market share of 45.14%
- On the basis of end user, the market is segmented into hospitals, specialty clinics, long term care centers, rehabilitation centers, and homecare settings, and others. In 2024, the hospitals segment is expected to dominate the market with the market share of 81.86%
Major Players
Data Bridge Market Research analyzes Koninklijke Philips N.V. (Netherlands), GE Healthcare (U.S.), Vyaire (U.S.), Drägerwerk AG & Co. KGaA (Germany), and Getinge AB (Sweden) as the major players operating in the global ventilator market.
Market 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.
- 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
Regional Analysis
Geographically, the countries covered in the market report are 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.
As per Data Bridge Market Research analysis:
North America is expected to dominate and be the fastest-growing region in the global ventilator market
North America is expected to dominate and be the fastest-growing region in the global ventilator market because of the higher level of investments by various manufacturers and increasing technological advancements. North America will continue to be the fastest growing region in the global ventilator market in terms of revenue and will continue to flourish its dominance during the forecast period.
For more detailed information about the global ventilator market report, click here – https://www.databridgemarketresearch.com/reports/global-ventilators-market
