The Mechanical Ventilator Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Mechanical Ventilator Global Market Report 2024, The mechanical ventilator market size has grown rapidly in recent years. It will grow from $7.79 billion in 2023 to $8.83 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to emergency preparedness initiatives, research and development initiatives, medical advancements and critical care needs, epidemics and pandemics, aging population and chronic respiratory diseases.
The mechanical ventilator market size is expected to see rapid growth in the next few years. It will grow to $15.13 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to global health emergencies and pandemics, emergency response preparedness, adherence to regulatory standards, government investments and initiative, global healthcare infrastructure development. Major trends in the forecast period include focus on energy efficiency, integration with wearable technology, wireless connectivity and remote monitoring, incorporation of AI and machine learning, modular and customizable systems.
Improving healthcare infrastructure is expected to propel the growth of the mechanical ventilator market. Healthcare infrastructure is referred to as a foundation for planning, evaluating, delivering, and implementing improvements in public health. The outbreak of the COVID-19 pandemic has increased the need for infrastructure readiness and the demand for improved healthcare facilities. Many hospitals are increasing their capacity of mechanical ventilators to tackle the urgent need without facing a shortage of medical devices for treatment in an emergency. For instance, in June 2021, the government of India planned an INR 50,000 crore ($6.8 billion) program to boost health infrastructure in the country. Therefore, the improving healthcare infrastructure is driving the growth of the mechanical ventilator market.
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The mechanical ventilator market covered in this report is segmented –
1) By Type: Adult Ventilators, Pediatric Ventilators, Neonatal/ Infant Ventilators
2) By Mobility: Intensive Care Ventilators, High-End ICU Ventilators, Mid-End ICU Ventilators, Basic ICU Ventilators, Portable Ventilators
3) By Mode Of Ventilation: Invasive Ventilation, Non-Invasive Ventilation
4) By End-User: Hospitals and Clinics, Home Care, Ambulatory Care Centers, Emergency Medical Service, Other End-Users
Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. High-flow oxygen therapy is a technique that delivers a mixture of heated and humidified oxygen and air through the nose at high flow rates. For instance, in October 2021, Movair, a US-based respiratory therapy company, launched an Advanced Ventilator-Luisa. The Luisa ventilator is easy to use, compact, and portable, and has an intuitive interface and simple controls. It uniquely designed life-supporting ventilator with high-flow oxygen therapy to provide advanced respiratory support to patients with respiratory distress, including those suffering from COVID-19. This unique product has a variety of features with advanced monitoring capabilities, including real-time monitoring of airway pressure, flow, and volume.
The mechanical ventilator market report table of contents includes:
1. Executive Summary
2. Mechanical Ventilator Market Characteristics
3. Mechanical Ventilator Market Trends And Strategies
4. Mechanical Ventilator Market – Macro Economic Scenario
5. Global Mechanical Ventilator Market Size and Growth
…..
32. Global Mechanical Ventilator Market Competitive Benchmarking
33. Global Mechanical Ventilator Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Mechanical Ventilator Market
35. Mechanical Ventilator Market Future Outlook and Potential Analysis
36. Appendix
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