The homecare ventilator market size has the potential to grow by USD 197.06 million during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of over 7%.
This report provides a detailed analysis of the market by type (pneumatic ventilators, electronic ventilators, and electro-pneumatic ventilators), geography (Asia, Europe, North America, and ROW), and key vendors
Market Overview
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Market Competitive Analysis
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- BMC Medical Co. Ltd.
- Dima Italia Srl
- Drive DeVilbiss Healthcare
- Fisher & Paykel Healthcare Corp. Ltd.
- Koninklijke Philips NV
- Medtronic Plc
- ResMed Inc.
- Servona GmbH
- Siare Engineering International Group Srl
- Vyaire Medical Inc.
The homecare ventilator market is fragmented and the vendors are deploying growth strategies such as product improvements to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.
The market players also significantly leverage external market drivers such as the increasing demand for home healthcare will offer immense growth opportunities. However, factors such as limitations and complications of homecare ventilation will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Download a free sample of the homecare ventilator market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies,
This homecare ventilator market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
Homecare Ventilator Market: Key Drivers and Trends
The development of telemonitoring systems has enabled electronic transmission of patient information to the healthcare system and the detection of various clinical events in homecare ventilation, thereby enhancing remote patient monitoring capabilities of home care ventilators. The increasing number of home mechanical ventilation patients, difficulties related to hospital discharge, and technological advances have driven market vendors to develop telemonitoring systems for patients suffering from chronic respiratory insufficiency. Remote monitoring through telemonitoring systems will help in controlling disease progression and avoid the need for ICU admission. Remote monitoring of patients on homecare ventilation will be one of the critical homecare ventilator market trends, which will have a positive impact on the growth of the market.
The demand for home healthcare is increasing as it is more convenient, less expensive, and equally effective to the care received in a hospital or skilled nursing facility (SNF). Patients prefer home healthcare as they can get quality nursing care and one-on-one attention from service providers at the privacy of their homes. The growing demand for home healthcare services will help in de-congesting hospitals for more critical needs, curbing hospital-associated infections, and enabling preventive treatment. The increasing number of older patients with chronic diseases in ICUs has created a growing need for outpatient management and out-of-hospital ventilation support. This has encouraged market vendors to develop innovative portable ventilator models, which are easier to operate and ideal for homecare ventilation applications. The rising demand for home healthcare will be a significant factor fueling homecare ventilator market growth at a CAGR of over 7% during the forecast period.
WHomecare Ventilator Market: Segmentation by Geography
North America was the largest homecare ventilator market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The favorable reimbursements for homecare ventilation, an increase in GDP, the strong market presence of key vendors, the prevalence of respiratory disorders, and the growing geriatric population will significantly drive homecare ventilator market growth in this region over the forecast period.
37% of the market’s growth will originate from North America during the forecast period. The US is a key market for homecare ventilator in North America.
Homecare Ventilator Market: Segmentation by Type
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This report provides an accurate prediction of the contribution of all the segments to the growth of the homecare ventilator market size.
The homecare pneumatic ventilators are simple, lightweight, easily transportable. They could be used without the need for backup power or additional oxygen cylinders. The pneumatic ventilators use the least battery power. Moreover, the power requirements of pneumatic ventilators are also less affected by changes in patient lung characteristics and ventilator settings. Hence, there is an increasing demand for these ventilators in homecare use. Moreover, they are ideal for use in remote settings with limited resources.
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Homecare Ventilator Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive homecare ventilator market growth during the next five years
- Precise estimation of the homecare ventilator market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the homecare ventilator industry across Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of homecare ventilator market vendors
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