Medical Ventilators Market by Product, Technology, End-user, and Geography - Forecast and Analysis 2020-2024
- Published: May 2020
- Pages: 120
- SKU: IRTNTR43217
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The medical ventilators market size has the potential to grow by USD 1.52 billion during 2020-2024, and the market’s growth momentum will decelerate during the forecast period. The rise in demand for non-invasive ventilators and use of ventilators with automatic adaptation are few of the critical medical ventilators market drivers and trends fueling the growth of the market.
This report provides a detailed analysis of the market by product (ICU ventilators and portable ventilators), technology (invasive ventilators and non-invasive ventilators), end-user (hospitals, ASCs, and home care), and geography (Asia, Europe, North America, and ROW).
An in-depth scenario-based approach was followed in this medical ventilators market research report to identify the direct and indirect impact of COVID-19 on market growth. Buy the full market research report to gain actionable insights on the impact of COVID-19 on medical ventilators market segments.
What was the Medical Ventilators Market Size in 2019?
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What are the Key Medical Ventilators Market Drivers and Trends?
The increasing demand for non-invasive ventilators will drive the growth of the medical ventilators market. The market is increasingly witnessing a huge shift from invasive ventilation methods towards the use of non-invasive ventilators as these ventilators make the routine activities easier by decreasing the strain of breathing, unlike invasive ventilators that cause adverse effects on patients.
Also, as non-invasive ventilation systems have a faster recovery time, involve shorter hospital stays, and eliminate the use of the endotracheal tube, they can be used in both acute and chronic respiratory failure. With the increasing use of non-invasive ventilators to treat various other respiratory conditions such as chronic obstructive pulmonary disease (COPD), pneumonia, asthma, and acute respiratory disease, the global medical ventilators market will witness considerable growth during the forecast period. Moreover, the increase in the number of patients with COVID-19 infection is also driving the demand for medical ventilators across the globe. As a result of such factors, the market will register a CAGR of over 7%.
Which is the Largest Market Segment Contributing to the Medical Ventilators Market Growth?
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ICU ventilators is the largest product segment in the medical ventilators market. Mechanical ventilation is one of the most common interventions used in the ICU. More than half of all patients admitted to the ICU require ventilation within the first 24 hours as acute respiratory failure, difficulty in breathing, or compromised lung function are prevalent among these patients. This will boost the demand for ICU medical ventilators during the forecast period. Request for a FREE SAMPLE to get an accurate prediction of the contribution of all the segments to the growth of the medical ventilators market size.
Which are the Key Markets for Medical Ventilators?
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North America was the largest medical ventilator market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing prevalence of chronic respiratory disorders and the recent outbreak of coronavirus will significantly drive medical ventilators market growth in this region over the forecast period.
Who are the Major Medical Ventilator Market Vendors?
The medical ventilators market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:
- Draegerwerk AG & Co. KGaA
- Fisher & Paykel Healthcare Corp. Ltd.
- General Electric Co.
- Getinge AB
- Hill-Rom Holdings Inc.
- Koninklijke Philips NV
- Medtronic Plc
- ResMed Inc.
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- Smiths Group Plc
The market is fragmented. Market vendors are launching innovative and compact products with improved features that are easy to use. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Key Highlights of the Medical Ventilators Market Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive medical ventilators market growth during the next five years
- Precise estimation of the medical ventilators market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the medical ventilators 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 medical ventilators market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Increasing prevalence of respiratory disorders and other diseases
- Ventilators with automatic adaptation
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