mechanical ventilators Market Share & Growth | Forecast 2031

Report Description

The global mechanical ventilators market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the rapid growth in the elderly population and technological innovation.

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A mechanical ventilator is utilized when a patient is having surgery or is unable to breathe on their own due to a serious illness, to assist them in breathing. Artificial ventilation is referred to as mechanical ventilation or aided ventilation in medical terms. Positive pressure ventilation, in which air is forced into the lungs, and negative pressure ventilation, in which air is sucked into the lungs by inducing chest movement, are the two most common methods of mechanical ventilation. These ventilators are commonly used to treat respiratory illnesses, strokes, chronic obstructive pulmonary disease, and other conditions. Mechanical ventilation is a life-saving procedure that helps patients with serious illnesses breathe just enough to survive.

The impact of COVID-19 pandemic has been positive on the mechanical ventilators market. During the pandemic, the requirement for ventilation facilities significantly augmented numerous day-to-day operational capabilities. This is expected to remain the same during the forecast period.

Market Trends, Drivers, Restraints, and Opportunities

• Rising prevalence of respiratory diseases is expected to boost the market growth in the coming years.
• Increase in number of ICU beds/critical care beds is one of the key factors driving the market growth.
• High cost associated with mechanical ventilators present a major challenge. This is anticipated to hamper the market growth in the projected period.
• Harmful effects of certain devices on neonates are projected to hinder the market expansion during the forecast period.
• Technological advancement in mechanical ventilators is projected to create significant growth opportunities for the market in the near future.

Scope of the Report

The report on the global mechanical ventilators market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Non-invasive segment to grow at a rapid pace

Based on ventilation mode, the global mechanical ventilators market is bifurcated into non-invasive and invasive. The non-invasive segment is further divided into BiPAP, CPAP, and others. The non-invasive segment is expected to grow at a rapid pace during the forecast period owing to its ability to offer precise and higher concentrations of oxygen and the usage in a wide range of applications. Moreover, advanced intensive care ventilators with many respiratory support modes can be used to administer it, which is further expected to drive the segment growth.

Critical care segment to expand at a considerable CAGR

In terms of products, the market is segregated into transport & portable, neonatal, critical care, and others. The transport & portable, neonatal, and critical care segments are further bifurcated into accessories and ventilators. The critical care segment is projected to expand at a considerable CAGR during the forecast period attributed to the high adoption and installation rate in hospitals. Additionally, an increase in the number of healthcare and hospitals facilities is expected to drive the segment growth further. On the other hand, the transport & portable segment is anticipated to account for a major market share during the forecast period due to their effectiveness in a range of applications in various health-care settings.

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Hospitals segment to hold significant market share

On the basis of end-users, the global mechanical ventilators market is segmented into home healthcare, hospitals, and others. The hospitals segment is anticipated to hold significant market share in the coming years owing to increasing hospital spending, which enables the use of technologically improved ventilators. However, the home healthcare segment is anticipated to hold a key share of the market in the coming years due to growing number of government programs targeted at reducing healthcare costs being implemented.

North America to constitute a key market share

In terms of regions, the global mechanical ventilators market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period attributed to the presence of leading manufacturers implementing production boost in the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to the chronic respiratory disorders, rising healthcare costs, multiple alliances, new product releases, and strategic agreements implemented by local players across the region.

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