Growth in this market is driven by the outbreak of the COVID-19 pandemic, high prevalence of respiratory diseases, rapid growth in the geriatric population, increasing number of preterm births, and the rising number of ICU beds. However, factors such as dearth of skilled medical workers, reimbursement concerns, complications associated with the use of ventilators, reluctance among physicians for the adoption of new technologies are expected to restrain the growth of this market to a certain extent during the forecast period.
On the basis of mobility, the market for the ventilators is segmented into intensive care ventilators and portable/transportable ventilators. The intensive care ventilators segment accounted for the largest share of the ventilators market. The large share of the intensive care ventilators segment can be attributed to the rising number of intensive care beds equipped with ventilators. The increasing ICU admission due to COVID-19 and readmissions in developed countries coupled with appropriate reimbursement is also responsible for the large share of the ICU ventilators segment.
On the basis of type, the market for the ventilators is segmented into adult/pediatric ventilators and neonatal/infant ventilators. The adult/pediatric ventilators segment is projected to witness the highest growth in the ventilators market during the forecast period. Growth in this segment is largely driven by the large adult population suffering from COVID-19, chronic diseases such as COPD & asthma, the high prevalence of smoking, and the rising geriatric population.
On the basis of interface, the market for ventilators is segmented into invasive ventilation and non-invasive ventilation segment. The invasive ventilation segment accounted for the largest share of the ventilators market. Growth in the invasive ventilation market can be attributed to increasing severity in COVID-19 patients and the rising prevalence of respiratory diseases, neurological diseases, and sleeping disorders.
Based on the mode of ventilation, the ventilators market is segmented into volume-mode ventilation, pressure-mode ventilation, combined-mode ventilation, and other modes. The combined-mode ventilation segment accounted for the largest share of the ventilators market. The large share of the segment is attributed to its advantages over 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 in the ventilators market
North America is expected to account for the largest share of the ventilators market in 2019, followed by Europe. The dominance of the North American region can be attributed to the rising geriatric population, high prevalence of smoking, high prevalence of respiratory diseases, increasing COVID-19 patient volume, highly developed healthcare system, high healthcare expenditure, and major market players in the US.
The report analyzes the market for various ventilators and their adoption pattern. It aims at estimating the market size and future growth potential of the global ventilators market and different segments such as type, mobility, mode, interface, end user, and regions. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product service offerings, and recent developments.
This report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global ventilators market
Product & Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product or service launches in the global ventilators market
Market Development: Comprehensive information on the lucrative emerging regions by mobility, type, mode, interface, end user, and regions
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, revenue analysis, and products& services of leading players in the global ventilators market
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