Ventilator Market: Size, Share, Trends, and Forecast Analysis

 Meticulous Research®, a well-known leader in the market research industry, recently published a comprehensive report titled Ventilators Market Size, Share, Forecast, & Trends Analysis by Product (Instrument, Catheter, Mask, Tube), Mobility (Intensive Care, Portable), Interface (Invasive, Non-invasive), Age Group, Mode (Volume, Pressure), End User – Global Forecast to 2031. According to the latest findings, the ventilators market is anticipated to grow significantly, reaching $13.23 billion by 2031, with a compound annual growth rate (CAGR) of 8.3% from 2024 to 2031.

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The growth of this market is primarily driven by several factors, including an increasing number of intensive care units (ICUs) that demand associated equipment, a growing incidence of respiratory diseases, rapid urbanization leading to higher pollution levels, an aging global population, and the rising number of preterm births. Despite these growth drivers, market growth is expected to be restrained by the high costs of ventilators and a growing preference for alternative oxygenation therapies.

Further growth opportunities for the ventilator market are expected in regions such as Asia-Pacific and Latin America, where the demand for home-based therapeutic devices and the advancement of healthcare infrastructure create a conducive environment for market expansion. However, challenges such as the adverse effects of ventilators on neonates and difficulties in securing components for manufacturing ventilators persist as significant market barriers.

Historically, traditional invasive ventilators have held the largest share of the ventilator market. However, issues like limited portability, patient discomfort, and restricted use for certain age groups have led to advancements in ventilator technology. The development of non-invasive and portable ventilators has been a significant trend, offering solutions that are usable outside of hospital settings. A notable innovation in this area is the research by Shinano Kenshi Co., Ltd. (Japan), which is working on a wearable ventilator designed to support patients suffering from chronic obstructive pulmonary disease (COPD) or those recovering from lung transplants. This wearable device is expected to significantly ease the transportation of such patients compared to conventional ventilators.

Key Market Players

Some of the key players profiled in the report include:

  • Schiller AG (Switzerland)
  • Hamilton Medical AG (Switzerland)
  • Koninklijke Philips N.V. (Netherlands)
  • GE HealthCare Technologies, Inc. (U.S.)
  • Medtronic plc (Ireland)
  • Getinge AB (Sweden)
  • ResMed Inc. (U.S.)
  • Zoll Medical Corporation (U.S.)
  • Drägerwerk AG & Co. KGaA (Germany)
  • Fisher & Paykel Healthcare Limited (New Zealand)
  • VYAIRE MEDICAL, INC. (U.S.)

The ventilators market is segmented by product type, mobility, interface, age group, mode of operation, and end users. The report also includes a geographical analysis of the ventilators market, identifying key regional and country-level markets.

Among the products covered in the report, the ventilator accessories segment, which includes ventilator catheters, endotracheal tubes, masks, and other accessories, is expected to dominate the market with a 36.8% share in 2024. The growth of this segment can be attributed to the essential role these accessories play in ensuring proper hygiene in hospital environments and their multifunctional use in medication delivery.

In terms of mobility, intensive care ventilators are anticipated to account for 76.2% of the market share in 2024. This dominance is driven by the rising demand for ventilators in ICUs, increasing patient admissions to critical care units, availability of reimbursement options for respiratory care, and the growing incidence of respiratory diseases and preterm births globally.

For the interface segment, invasive ventilators are expected to lead the market. Their dominance is due to the frequent use of these ventilators in ICUs, where patients with severe respiratory conditions, neurological disorders, and sleep-related issues require prolonged support.

In terms of age group, the adult & pediatric segment is projected to lead, driven by the high prevalence of chronic respiratory diseases among elderly populations, who often require respiratory assistance.

The volume mode ventilation segment is expected to lead in 2024. This is primarily due to the precision and consistent tidal volume delivery that volume-controlled ventilators offer, which makes them ideal for use in critical care settings.

Hospitals are predicted to be the largest end users of ventilators, due to the rising number of patients with respiratory illnesses, availability of advanced medical technologies, and access to skilled professionals.

Geographically, North America is anticipated to account for 55.7% of the ventilators market by 2024, driven by well-developed healthcare systems, early adoption of advanced technologies, an aging population, and the presence of key industry players.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/ventilators-market-5093

 

Key Questions Answered in the Report:

  • Which are the high-growth market segments in terms of product, mobility, interface, age group, mode, end user, and geography?
  • What was the historical market size for ventilators across the globe?
  • What are the market forecasts and estimates for the period 2024–2031?
  • What are the major drivers, restraints, opportunities, and challenges in the ventilators market?
  • Who are the key players operating in the ventilators market?
  • What is the competitive landscape like?
  • What are the recent developments in the ventilators market?
  • What are the different strategies adopted by the major players in the ventilators market? 
  • What are the geographical trends and high-growth regions/countries?
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