NEW
YORK, June 24, 2024 /PRNewswire/ -- The
global mechanical ventilators market size is
estimated to grow by USD
2.00 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of 6.78%
during the forecast period. Increasing prevalence of
respiratory diseases is driving market growth, with a
trend towards technological advancements in mechanical
ventilators. However, several risks associated with the use of
mechanical ventilators poses a challenge. Key market players
include Air Liquide SA, Allied Healthcare Products Inc., Asahi
Kasei Corp., Boston Scientific Corp., Dragerwerk AG and Co. KGaA,
Fisher and Paykel Healthcare Corp. Ltd., General Electric Co.,
Getinge AB, Hamilton Co., ICU Medical Inc., Koninklijke Philips
N.V., Medtronic Plc, MicroPort Scientific Corp., Nihon Kohden
Corp., ResMed Inc., SCHILLER AG, Shenzhen Mindray BioMedical
Electronics Co. Ltd, Smiths Group Plc, Stryker Corp., and Vyaire
Medical Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (Hospitals,
Ambulatory surgery centers, and Home-care settings), Product
(Critical care ventilators, Portable ventilators, and Neonatal),
Technology (Non-invasive and Invasive), and Geography (North
America, Europe, Asia, and Rest of World (ROW))
|
Region
Covered
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Key companies
profiled
|
Air Liquide SA, Allied
Healthcare Products Inc., Asahi Kasei Corp., Boston Scientific
Corp., Dragerwerk AG and Co. KGaA, Fisher and Paykel Healthcare
Corp. Ltd., General Electric Co., Getinge AB, Hamilton Co., ICU
Medical Inc., Koninklijke Philips N.V., Medtronic Plc, MicroPort
Scientific Corp., Nihon Kohden Corp., ResMed Inc., SCHILLER AG,
Shenzhen Mindray BioMedical Electronics Co. Ltd, Smiths Group Plc,
Stryker Corp., and Vyaire Medical Inc.
|
Key Market Trends Fueling Growth
The mechanical ventilators market is experiencing significant
growth due to technological advancements. Philips NV and Medtronic
Plc are leading vendors introducing innovative ventilators with
features like real-time monitoring and remote connectivity. The
COVID-19 pandemic has accelerated innovation, with companies like
Hamilton Bonaduz AG and Dragerwerk AG developing ventilators with
enhanced lung protective strategies. Remote monitoring capabilities
are also transforming the industry, enabling healthcare providers
to adjust settings remotely and minimize in-person consultations.
These advancements highlight the crucial role of technology in
driving market growth.
The Mechanical Ventilators market has seen significant growth in
recent years due to the increasing need for respiratory support in
various healthcare settings. These devices are essential in
treating patients with respiratory distress, such as those with
COVID-19. The market is driven by advances in technology, leading
to the development of portable and easy-to-use ventilators.
Additionally, the rising number of chronic diseases and an aging
population have contributed to the market's expansion. Furthermore,
regulatory approvals and collaborations between industry players
and research institutions are expected to fuel future growth.
Overall, the Mechanical Ventilators market is a vital segment in
the healthcare industry, providing essential medical equipment for
patient care.
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Market Challenges
• The mechanical
ventilators market faces challenges due to potential complications
for patients. These include infections leading to extended
ventilator use, collapsed lungs requiring chest tubes, lung damage
from pressure or oxygen levels, and the difficulty of discontinuing
support when conditions do not improve. These risks may hinder
market growth during the forecast period.
• The Mechanical
Ventilators market faces several challenges. These include the need
for advanced technology to meet increasing demand for portable and
non-invasive ventilators (portable ventilators, non-invasive
ventilators). Additionally, cost-effectiveness is a significant
challenge, as high-quality ventilators can be expensive.
Regulations and standards also pose challenges, requiring strict
adherence to safety and performance guidelines (regulations,
standards). Furthermore, the global health crisis has highlighted
the need for mass production and distribution of ventilators
(global health crisis, mass production, distribution). Lastly, the
integration of artificial intelligence and machine learning in
ventilators is a growing trend, but presents challenges in terms of
data security and privacy (artificial intelligence, machine
learning, data security, privacy).
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challenges - Download a Sample Report
Segment Overview
This mechanical ventilators market report extensively covers
market segmentation by
- End-user
- 1.1 Hospitals
- 1.2 Ambulatory surgery centers
- 1.3 Home-care settings
- Product
- 2.1 Critical care ventilators
- 2.2 Portable ventilators
- 2.3 Neonatal
- Technology
- 3.1 Non-invasive
- 3.2 Invasive
- Geography
- 4.1 North America
- 4.2 Europe
- 4.3 Asia
- 4.4 Rest of World (ROW)
1.1 Hospitals- The global mechanical ventilators
market is anticipated to expand due to the rising number of
hospitals, both public and private. Large hospitals with advanced
medical infrastructure frequently use mechanical ventilators for
patients with conditions like COPD, apnea, acute lung injury, and
hypoxia. Portable ventilators are also popular due to their speed
and continuous treatment capabilities. The increasing prevalence of
chronic diseases and an aging population boosts hospital growth and
the demand for medical devices, including mechanical ventilators.
Technological advancements enhance their reliability, further
fueling market growth.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Mechanical Ventilators Market encompasses the production,
sales, and distribution of devices employed in respiratory
interventions for patients suffering from various chronic
respiratory conditions, such as asthma, obstructive sleep apnea,
exertional dyspnea, and pulmonary embolism. These devices are
essential in managing both pediatric and adult cases, providing
artificial breathing support for patients with acute medical
conditions and those requiring intensive care. Mechanical
ventilators come in various forms, including intensive care
ventilators, portable ventilators, and neonatal ventilators.
Disease management for chronic diseases, like asthma and
obstructive sleep apnea, significantly benefits from the use of
these respiratory devices. However, it is crucial to consider
potential complications, such as ventilator-associated pneumonia,
and ensure proper vaccination programs for patients to minimize
risks.
Market Research Overview
The Mechanical Ventilators Market refers to the global industry
dedicated to the production and distribution of mechanical devices
used for respiratory support in various healthcare settings. These
ventilators employ mechanical power to deliver controlled breaths
to patients who are unable to breathe adequately on their own. The
market is driven by factors such as an aging population, increasing
prevalence of chronic diseases, and advancements in technology
leading to the development of portable and non-invasive
ventilators. The market also faces challenges including regulatory
requirements, high costs, and the need for continuous power supply.
The market encompasses various types of mechanical ventilators such
as invasive and non-invasive, volume-controlled and
pressure-controlled, and adult and pediatric ventilators. The
market is expected to grow significantly in the coming years due to
the increasing demand for advanced respiratory support systems.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Hospitals
- Ambulatory Surgery Centers
- Home-care Settings
- Product
-
- Critical Care Ventilators
- Portable Ventilators
- Neonatal
- Technology
-
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio