Ventilator Market Trend

Jun 30 18:54 2020 Anamika Chauhan Print This Article

Ventilators may also be equipped with monitoring and alarm systems for continuous patient monitoring, backup batteries, oxygen tanks, and remote control. The Ventilator is either invasive or non-invasive and mechanical. Modern positive pressure ventilator is the most widely used type of mechanical ventilator. The ventilators market is expected to reach USD 1,261.9million by 2023 from an estimated USD 859.9million in 2018, at a CAGR of 8.0% from 2018 to 2023.

When a patient is unable to breathe on their own,Guest Posting a medical device called a ventilator is used to assist respiration. It performs the function of pushing oxygen down the lungs and removing carbon dioxide from the body. Ventilators are also used while giving anesthesia to patients before surgery.

Ventilators may also be equipped with monitoring and alarm systems for continuous patient monitoring, backup batteries, oxygen tanks, and remote control. The Ventilator is either invasive or non-invasive and mechanical. Modern positive pressure ventilator is the most widely used type of mechanical ventilator. The ventilators market is expected to reach USD 1,261.9million by 2023 from an estimated USD 859.9million in 2018, at a CAGR of 8.0% from 2018 to 2023.

The demand for ventilators is increasing with the increasing number of critically ill patients, high incidence of chronic illness among children, the prevalence of lifestyle disorders such as heart attack, respiratory diseases, and the demand for ventilators in emergency care. Ventilation is associated with many adverse effects and complications, with most of them being under-reported. The improper functioning of alarms, inappropriate heating or humidification of the inspired gas, and improper ventilation cycle are some of the minor complications that occur during ventilation. Major complications associated with the use of mechanical ventilators are bronchopleural fistula, development of nosocomial pneumonia, and pneumothorax. These complications can lead to adverse physiological effects, such as decrease in cardiac output, increased intracranial pressure, unintended respiratory alkalosis, impairment of hepatic & renal functions, and gastric distensions. Some other key factors supporting the market growth are rising healthcare expenditure and high prevalence of tobacco smoking.

By Product Type, the ventilator market is classified into portable and intensive care ventilators. Between the two, intensive care ventilators account for the larger revenue share in the market and are projected to hold a 56% share in 2022. The portable/transportable ventilators segment is expected to register the highest CAGR during the forecast period. The intensive care ventilators segment is further categorized into high-end ICU ventilators, mid-end ICU ventilators, and basic ICU ventilators. The portable/transportable ventilators segment is expected to grow at the highest CAGR during the forecast period.

It is further also segmented by invasive and non-invasive. Non-invasive ventilators are further segmented into volume-cycled, pressure-cycled, flow-cycled, and time-cycled ventilators. Mechanical ventilators are further segmented into positive pressure and negative pressure ventilators. On the basis of applications, the market is segmented into critical care, neonatal care, emergency care, and others. A major trend observed in the ventilator market is a rise in demand for compact, low-maintenance ventilators. Such ventilators are designed in a way that they can be operated manually, in settings where electricity supply is not available. Besides, the growing preference for home-based health solutions is fuelling the demand for these ventilators.

By End-user, the ventilator market is classified into hospitals, home care, and ambulatory care. Among these, hospitals are expected to hold over 70% market shares in 2022. However, home care, as an end-user category, is expected to generate the highest demand for ventilators during the forecast period.

By region, North America leads the ventilator market, globally, and is also expected to be the largest revenue-generating regional market during the forecast period. America is the largest market for medical ventilators owing to an increase in lifestyle diseases leading to asthma, chronic obstructive pulmonary diseases, bronchitis & other disorders. Besides, the geriatric population in the region is increasing at a fast pace and is expected to continue supporting the growth of the market in the coming years. The U.S. is expected to hold the largest share in the regional market, accounting for over 85% revenue in 2022.The market consists of four regions: Americas, Europe, Asia Pacific, and the Middle East & Africa. The Asia Pacific shows the fastest growth in this market due to the prevalence of chronic heart diseases & respiratory illness, increasing environmental pollution leading to various types of lung disorders & the presence of a large patient pool drive the growth of this market. Also, the demand for point-of-care administration, a rising number of surgical procedures and the demand for non-invasive ventilators drive this market in the Asia Pacific. The market shows steady but rising growth in the Middle East and Africa due to the prevalence of obesity, heart disease, and other chronic illness, and an increasing number of surgical procedures performed in hospitals.

The key players in the Ventilator markets are the following Koninklijke Philips N.V. (the Netherlands), Medtronic (Ireland), ResMed (U.S.), General Electric Company (U.S.), Becton, Dickinson and Company (U.S.), Allied Healthcare Products Inc. (U.S), Hamilton Medical (Switzerland), Teleflex Incorporated (U.S.).

Source: Free Guest Posting Articles from ArticlesFactory.com

About Article Author

Anamika Chauhan
Anamika Chauhan

Anamika is an experienced research analyst with 12 years of experience. She is working on various research projects in contract with Intenext solutions Pvt Ltd. There reports are 

Medical Ventilator Market Size, Share, Trend Analysis and Forecast Report, 2020 - 2027 Hospital Disinfectant Chemicals Market Size, Share, Trend Analysis and Forecast Report, 2020 - 2027

View More Articles