Mechanical Ventilators Market to Surpass $ 3.9 Billion by 2025
Growing geriatric population
coupled with outbreak of COVID-19 is driving demand for mechanical ventilators
in hospitals and ambulatory surgical centres
According
to TechSci Research report, “Global
Mechanical
Ventilators Market By Mobility, By Interface, By Type, By Mode, By End Use,
By Region, Competition, Forecast &
Opportunities, 2025”, the global mechanical ventilators market is
projected to grow from $ 1.37
billion in 2019 to $ 3.98 billion by 2025. Rapidly rising
cases of respiratory emergencies as well as growing coronavirus pandemic are the major factors boosting the growth
of global mechanical ventilators market. Moreover, the global geriatric
population is increasing at an alarming rate, which is further expected to boost
growth of the global mechanical ventilators market through the forecast period.
In addition to this, new advanced techniques are being developed in terms of respiratory
care devices, which in turn is expected to positively influence the growth of
global mechanical ventilators market in the years to come. Also, rising demand
for portable / transportable ventilators due to their various benefits such as cost-effectiveness,
patient-friendliness and high portability is making headway for the growth of
global mechanical ventilators market. An rising number of initiatives by
various governments to encourage and allow other players such as car
manufacturing companies to produce ventilators as much as possible due to dire
shortage of these life-saving units in hospitals is expected to have a huge
positive impact on the market across the globe.
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Global
mechanical ventilators market can be segmented based on mobility, interface, type,
mode, end-use and region. Considering the mobility, the market is bifurcated into
intensive/critical care ventilators and portable/transportable ventilators. The
intensive / critical care ventilators segment dominated the global mechanical
ventilators market until 2019 and is further anticipated to maintain its
dominance during the forecast period as well. In addition, the demand for portable
ventilators segment is anticipated to grow at a robust pace owing to certain
advantages they offer such as user-friendliness and low cost. Additionally, the
effectiveness and variety of applications in numerous care delivery settings
ranging from home care to ambulatory centers is further anticipated to aid the
growth of portable ventilators segment until 2025. On based on type, the market
is segmented into adult / pediatric and infant / neonatal type, of which adult
/ pediatric segment dominates the market and is anticipated to maintain its
dominance over the next five years.
Becton, Dickinson and Company, Acoma
Medical Industry Co. Ltd., Medtronic PLC, Draeger Medical GmbH, GE Healthcare,
Macquet GmbH & Co. KG, Philips Respironics Inc., ResMed Inc., Smiths
Medical, Teleflex Inc., Carl Reiner Gmbh, Hamilton Medical AG, Getinge AB,
Mindray Medical International Limited, Koninklijke Philips N.V., ZOLL Medical
Corporation, Allied Healthcare Products, Inc., Schiller Healthcare India Pvt.
Ltd., Fisher & Paykel Healthcare Limited are among the
leading players operating in global mechanical ventilators market.
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“Europe is
forecast to dominate the global mechanical ventilators market over the course
of next five years on account of presence of major market players in the region.
Moreover, high prevalence of smoking coupled with rising expenditure in healthcare
system is also contributing to the growing trend of the region’s mechanical
ventilator market. In addition, due to severe coronavirus outbreak across
various major countries of the region, ventilator manufacturers in Europe have
doubled their production to cope up with the rising demand.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Mechanical Ventilators Market By Mobility,
By Interface, By Type, By Mode, By End Use, By
Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global mechanical
ventilators market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global mechanical ventilators
market.
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