COVID-19's Impact on Worldwide Ventilator Markets; 2018-2019 & 2020-2027 - Increasing Number of Intensive Care Units (ICU) and ICU Beds

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May 11, 2020, 08:00 ET

DUBLIN, May 11, 2020 /PRNewswire/ -- The "Ventilators Market by Product (Instruments, Accessories), Mobility (Intensive Care, Portable), Interface (Invasive, Non-invasive), Age Group (Adult, Pediatric), Mode (Volume, Pressure, Dual), End User (Hospital, ASCs, Home Care) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global ventilators market is expected to grow at a CAGR of 15.8% from 2020 to 2027 to reach $7.72 billion by 2027.

This research report provides an in-depth analysis of the ventilators market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2027.

The growth in the ventilators market is mainly attributed to the factors such as increasing number of intensive care units (ICU), rising incidence & prevalence of chronic diseases, urbanization and growing pollution level, rapid growth in geriatric population, and increasing incidence of preterm births. Moreover, with the drastically increasing COVID-19 crisis, the demand for ventilators is expected to increase significantly in many countries all over the globe.

The global ventilators market study presents historical market data in terms of value and volume (2018 and 2019), estimated current data (2020), and forecasts for 2027 - by product (ventilator/instrument, accessories/consumables), interface (invasive, non-invasive), age group (adult & pediatric, neonatal & infant), mobility (intensive care ventilators, portable), mode (pressure mode ventilation, volume mode ventilation, dual/combines mode ventilation, and others), end user (hospitals, homecare settings, ambulatory surgical centers, and others). The study also evaluates the industry competitors and analyzes the market at regional and country level.

Based on product, the ventilator accessories segment accounted for the largest share of the overall market in 2019, owing to the frequent use of ventilators masks, circuits, catheters, and endotracheal tubes with increasing patient population in need of ventilation and growing awareness of hospital hygiene. However, the ventilator instrument segment is expected to witness rapid growth during the forecast period.

Based on mobility, growing adoption of portable ventilators from household & long-term care facilities for easy accessibility by both patients & physicians is the major factor driving the growth of the portable ventilators market. Moreover, due to COVID-19 crisis, vendors are manufacturing low cost & portable ventilators, thereby increasing their availability & affordability across the world. However, the intensive care ventilators segment held the largest share of the overall ventilators market in 2019, primarily due to technological advancement & addition of features in ICU units & beds, favorable government scenario, sudden outbreaks of infectious diseases, and rising preterm births across the globe.

Based on mode of ventilation, the ventilators market is segmented into volume, pressure, dual/combined, and other modes. The volume mode ventilation segment accounted for the largest share of the overall ventilators market in 2019. The large share of this segment is mainly attributed to the higher adoption of volume mode in intensive care ventilators, owing to its advantages such as minute ventilation and constant tidal volume. However, the dual/combined mode ventilation segment is estimated to grow at the highest CAGR during the forecast period.

Based on end user, the hospitals segment accounted for largest share of the overall ventilators market in 2019. However, the homecare settings segment is estimated to grow at the fastest CAGR during the forecast period, owing to the growing demand for home care therapeutic devices from patients requiring long-term ventilation with increasing aging population and increased life expectancy.

An in-depth analysis of the geographic scenario of the ventilators market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. North America dominated the overall ventilators market in 2019, followed by Europe, and Asia-Pacific. The factors such as growing prevalence of COVID-19 across the region have triggered the need for ventilators, hospital beds, and other healthcare supplies. In addition, the ongoing initiatives for boosting the production of ventilators and growing geriatric population are some of the other factors stimulating the market growth in this region.

The key players operating in the global ventilators market are Koninklijke Philips N.V. (Netherlands), Hamilton Medical AG (Switzerland), Medtronic plc (Ireland), Vyaire Medical, Inc. (U.S.), GE Healthcare (U.S.), Fisher & Paykel Healthcare Ltd (New Zealand), Drgerwerk AG & Co. KGaA (Germany), ResMed Inc. (U.S.), Zoll Medical Corporation (U.S.), Schiller AG (Switzerland), and Getinge AB (Sweden), among others.

Market Dynamics

Drivers

Increasing Number of Intensive Care Units (ICU) and ICU Beds
Rising Incidence & Prevalence of Respiratory Diseases
Urbanization and Growing Pollution Levels
Rapid Growth in the Geriatric Population
Increasing Incidence of Preterm Births

Restraints

High Cost of Ventilator Setup
Preference of Alternative Oxygenation Therapies

Opportunities

Growing Demand for Home Care Therapeutic Devices
High Growth from Emerging Countries in Asia-Pacific and Latin America

Challenges

Harmful Effects on Neonates
Maintaining Component Supply Chains
Complications Associated with the Use of Mechanical Ventilator

Scope of the Report

Market by Product

Accessories/Consumables
Ventilator Catheters
Endotracheal Tubes
Ventilator Masks
Other accessories
Ventilator/Instrument

Market by Mobility

Invasive Care Unit
Portable Ventilators

Market by Interface

Invasive Ventilators
Non-invasive Ventilators

Market by Age Group

Adult & Paediatric
Neonatal & Fatal

Market by Mode

Volume Mode Ventilation
Pressure Mode Ventilation
Dual/Combined Mode Ventilation
Other Ventilation Modes

Market by End-user

Hospitals
Home Care Settings
Ambulatory Surgical Centers
Other End-users

Market by Geography

North America

U.S.
Canada

Europe

Germany
France
U.K.
Italy
Spain
Rest of Europe (RoE)

Asia-Pacific (APAC)

Japan
China
India
Rest of APAC (RoAPAC)

Latin America
Middle East & Africa

Companies Mentioned

Draegerwerk AG & Co. KGaA (Germany)
Fisher & Paykel Healthcare Ltd. (New Zealand)
GE Healthcare (U.S.)
Getinge AB (Sweden)
Hamilton Medical AG (Switzerland)
Koninklijke Philips N.V. (Netherlands)
Medtronic plc (Ireland)
ResMed Inc. (U.S.)
Schiller AG (Switzerland)
Vyaire Medical Inc. (U.S.)
Zoll Medical Corporation (U.S.)

For more information about this report visit https://www.researchandmarkets.com/r/oeelcb

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