Ventilators Global Market Report 2023

NEW YORK, Feb. 17, 2023 /PRNewswire/ -- Major players in the ventilator devices market are Philips Healthcare, ResMed, Medtronic, Becton, Dickinson and Company, GE Healthcare, Hamilton Medical, Dräger, Getinge, Smiths Group, and Fisher & Paykel.

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The global ventilators market will grow from $4.12 billion in 2022 to $4.55 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The ventilators market is expected to grow to $6.70 billion in 2027 at a CAGR of 10.2%.

The ventilator device market consists of sales of face mask ventilators, mechanical ventilators, manual resuscitator bags and tracheostomy ventilators.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Ventilators are devices that function as bellows to draw air into and out of your lungs. The ventilator is programmed by the respiratory therapist and doctor to regulate how much air and how frequently it pushes air into the lungs.

Asia Pacific was the largest region in the ventilator devicess market in 2022.Western Europe was the second-largest region in the ventilator devices market.

The regions covered in the ventilator devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main types of ventilator devices are intensive care unit/critical care, transport/portable/ambulatory, and neonatal.Neonatal ventilator devices are kept in the healthcare settings for newborns and human infants during the first month after birth.

The interface is invasive and non-invasive. The various end-users are hospitals and clinics, home care, ambulatory care centres, and others.

There is an urgent and increased need for ventilators globally.This is because COVID-19 primarily manifests as an acute respiratory illness with pneumonia, and ventilators are the main supportive treatment for critically-ill patients.

They assist or replace respiratory functions, pumping oxygen into the blood for vital organs. Therefore, the ventilators market is expected to grow significantly with the rapidly increasing cases of COVID-19 disease worldwide.

The rising prevalence of respiratory diseases is driving the ventilators market.Chronic respiratory diseases such as asthma, bronchitis, pneumonia, and others resulting from different bacterial and viral infections and other causes will boost the demand for ventilators.

The ventilators are respiratory devices that are used to support respiration in patients with chronic respiratory diseases. For instance, as of December 2020, 67.9 million COVID-19 cases were reported. Coronavirus infects the lungs causing pneumonia and other respiratory disorders affecting patients' respiration. The emergence of such infectious diseases resulting in a pandemic is driving the ventilator market.

The number of complications associated with the use of ventilators is expected to negatively affect the ventilators market.The ventilators cause complications including bronchopleural fistula, pneumothorax, and nosocomial pneumonia, and similar complications that result in a decrease in cardiac output, gastric problems and renal impairment, alkalosis.

According to a report by Northwell Health COVID-19 Research Consortium in 2020, the death rate rose to 88% for those who received mechanical ventilation. The analysis of the report states that most of the patients could not survive after being placed on a mechanical ventilator.

The companies in the ventilator market are increasingly expanding their ventilator production capabilities realizing the current demand due to the outbreak of the COVID-19 pandemic.COVID-19 is a respiratory disease caused by the coronavirus that infects the lungs causing pneumonia and other respiratory conditions.

The patients affected with the virus suffer from severe pneumonia and lung dysfunction resulting in the need for ventilator support for respiration.For instance, in March 2020, Medtronic, a leading medical device manufacturer increased its ventilator production by 40%.

Also, in March 2020, Philips targeted to increase its ventilator production capacity by 4-fold, to meet the rising demand.

In March 2020, Masimo, a US-based medical technology company, acquired TNI Medical for an undisclosed amount.The acquisition would provide clinicians with important additional tools to manage people affected by pulmonary diseases and respiratory illnesses.

TNI Medical is a Germany-based manufacturer of ventilation technologies for helping in breathing to the people who are suppering from pulmonary conditions.

The countries covered in the ventilator devices market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The ventilator devices market research report is one of a series of new reports that provides ventilator devices market statistics, including ventilator devices industry global market size, regional shares, competitors with a ventilator devices market share, detailed ventilator devices market segments, market trends and opportunities, and any further data you may need to thrive in the ventilator devices industry. This ventilator devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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