(MENAFN- PR Newswire) CHICAGO, Feb. 13, 2024 /PRNewswire/ -- According to Arizton's latest focus insight report, the global ventilators market is growing at a CAGR of 6.50% from 2023 to 2029.
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Ventilators Market Focus Insight Report by Arizton
Ventilators are vital to healthcare services, from hospitals to ambulatory healthcare services and homecare settings. The changing healthcare services in emerging markets and significant achieved development with developed countries consistently drive the ventilator market growth.
There are some other conditions, such as acute respiratory distress syndrome, asthma, cardiac arrest, pneumonia, collapsed lung, stroke, coma, drug overdose, hypercapnic respiratory failure, lung infection, myasthenia gravis, sepsis, an infection in the blood, upper spinal cord injuries, premature lung development (in babies) that will drive the market consistently in the upcoming period.
In 2023, North America emerged as the dominant player in the global ventilators market. Within North America, the United States stands out with the highest per capita healthcare expenditure, which has fueled the adoption of ventilators in homecare settings and driven significant demand. However, this high healthcare expenditure has also contributed to the complexity of the healthcare system in the US.
The market's growth in North America is further propelled by technological advancements in ventilators, leading to the continuous introduction of new products. Additionally, factors such as the increasing geriatric population, prevalence of chronic diseases like cardiovascular diseases and diabetes, rising surgical procedures, and demand for emergency healthcare services have all contributed to the growing application of ventilators in the region.
North America's ventilators market is highly competitive, with several prominent players striving to maintain their foothold by introducing new products to meet the rising demand. Key vendors in this market include Hamilton Medical, Koninklijke Philips, GE Healthcare, Medtronic, and Resmed. These companies are implementing various strategies such as mergers, acquisitions, partnerships, and collaborations with key vendors to expand their distribution networks. This is anticipated to drive market growth further during the forecast period.
For example, in 2022, ICU Medical's acquisition of Smith plc aimed to bolster ICU Medical's product line, including infusion therapy and ventilators, reflecting a strategic move to support market expansion and meet growing demand.
Many emerging med-tech companies pose a considerable threat to global players due to their innovative products and technologies. The market offers tremendous growth opportunities for both existing players and new entrants, which is attributable to a considerably large target patient population with COPD conditions. Most prominent players in the market focus on implementing various strategies, such as new product launches and approvals, marketing and promotional activities, acquisitions, R&D initiatives, and strengthened distribution networks to enhance their revenue share and presence in the market. Further, there has been an unprecedented surge in demand for ventilators since the COVID-19 outbreak. With the sudden surge in demand for ventilators, both global and domestic vendors are ramping up their production capabilities to meet the rising demand. Many vendors worldwide have increased their production capacities for ventilators by 50% to 200%.
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Product Segmentation & Forecast
Interface Invasive Non-Invasive Mobility Standalone/Standard Ventilators Portable Ventilators Patient Group Adults Pediatrics/Neonates Application Critical Care Emergency Care Homecare Neonatal Care End-users Hospitals Homecare Settings Emergency Care Providers Others
KoninKlijke Philips Hamilton Medical Resmed Medtronic plc Vyaire Medicals GE Healthcare Schiller Dragerwerk ICU Medicals Abronn FZE A.B. Industries Airon Acutronic Medical Systems Aeonmed AgVa Healthcare Air Liquide Axcent Medical Avasarala Technologies Bio-Med Devices Bunnel Cardinal Health Delux Scientific Surgo Dima Italia Fritz Stephan Getinge Hartwell Medical HEYER Medical Hill-rom Services Lowenstein Medical Innovation MEKICS Narang Medical Oceanic Medical Products Mindray Bio-Medical Electronics Saire Engineering International Group S.I.E.M SI Surgical Skanray Technologies Tecme Triton Electronic Systems Ventec Life Systems
Key Questions Answered in the Report:
What is the projected value of the global ventilators market by 2029?
What factors are driving the growth of the global ventilators market?
What segment holds the largest share in the ventilators market?
Table of Contents
CHAPTER – 1: Ventilators Market Overview
Executive Summary Key Findings
CHAPTER – 2: Ventilators Market
GLOBAL: Projected Revenue of Ventilators Market (2023-2029; $Millions)
CHAPTER – 3: Ventilators Market Segmentation Data
GLOBAL: Projected Revenue by Interface (2023-2029; $Millions) Invasive Non-invasive GLOBAL: Projected Revenue by Mobility (2023-2029; $Millions) Standalone/Standard Ventilators Portable Ventilators GLOBAL: Projected Revenue by Patient Group (2023-2029; $Millions) Adults Pediatrics/Neonates GLOBAL: Projected Revenue by Application (2023-2029; $Millions) Critical Care Emergency Care Homecare Neonatal Care GLOBAL: Projected Revenue by End-user (2023-2029; $Millions) Hospitals Homecare Settings Emergency Care Providers Others
CHAPTER – 4: Key Regions Overview
Projected Revenue of Ventilators Market (2023-2029; $Millions) Projected Revenue of Ventilators Market in US Projected Revenue of Ventilators Market in Canada Europe:
Projected Revenue of Ventilators Market (2023-2029; $Millions) Projected Revenue of Ventilators Market in Germany Projected Revenue of Ventilators Market in UK Projected Revenue of Ventilators Market in France Projected Revenue of Ventilators Market in Italy Projected Revenue of Ventilators Market in Spain APAC:
Projected Revenue of Ventilators Market (2023-2029; $Millions) Projected Revenue of Ventilators Market in China Projected Revenue of Ventilators Market in Japan Projected Revenue of Ventilators Market in India Latin America:
Projected Revenue of Ventilators Market (2023-2029; $Millions) Projected Revenue of Ventilators Market in Brazil Projected Revenue of Ventilators Market in Mexico Projected Revenue of Ventilators Market in Argentina Middle East & Africa:
Projected Revenue of Ventilators Market (2023-2029; $Millions) Projected Revenue of Ventilators Market in Turkey Projected Revenue of Ventilators Market in Saudi Arabia Projected Revenue of Ventilators Market in South Africa
CHAPTER – 5: Ventilators Market Prospects & Opportunities
Ventilators Market Opportunities & Trends Ventilators Market Drivers Ventilators Market Constraints
CHAPTER – 6: Ventilators Industry Overview
Ventilators Market - Competitive Landscape Ventilators Market – Key Vendor Profiles Ventilators Market – Other Prominent Vendors Ventilators Market - Key Strategic Recommendations
CHAPTER – 7: Appendix
Research Methodology Abbreviations About Arizton
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