Overview and Scope
Ventilators are devices that function as bellows to draw air into and out of your lungs. The ventilator is programmed by the respiratory therapist and doctor to regulate how much air and how frequently it pushes air into the lungs
Sizing and Forecast
The ventilators market size has grown rapidly in recent years. It will grow from <b>$4.55 billion in 2023 to $5.02 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. </b> The growth in the historic period can be attributed to respiratory conditions prevalence, surgical procedures, intensive care units (icus), technological advancements, aging population.
The ventilators market size is expected to see rapid growth in the next few years. It will grow to <b>$7.39 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. </b> The growth in the forecast period can be attributed to telemedicine and remote monitoring, personalized medicine, technological innovations, hospital infrastructure investment. Major trends in the forecast period include portable and transport ventilators, advanced ventilation modes, digital health and telehealth integration, innovation in ventilation technologies.
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Segmentation & Regional Insights
The ventilators market covered in this report is segmented –
1) By Type: Intensive Care Unit/Critical Care, Transport/Portable/Ambulatory, Neonatal
2) By Interface: Invasive, Non-Invasive
3) By End-User: Hospitals and Clinics, Home care, Ambulatory Care Centers, Other End Users
<b>Asia-Pacific</b> was the largest region in the ventilator devices market in 2023. <b>Western Europe</b> was the second-largest region in the ventilator device market. The regions covered in the ventilators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising prevalence of respiratory diseases is driving the ventilators market. Chronic respiratory diseases such as asthma, bronchitis, pneumonia, and others resulting from different bacterial and viral infections and other causes will boost the demand for ventilators. The ventilators are respiratory devices that are used to support respiration in patients with chronic respiratory diseases. For instance, in 2023, according to Australian Institute of Health and Welfare, an Australia-based organization, nearly 30% of Australians said they had long-term respiratory illnesses. 5.1 million Australians (20% of the total population) had allergic rhinitis, also known as ‘hay fever,’ 2.7 million (11%) had asthma, and 2.0 million (8.0%) had chronic sinusitis, out of the expected 7.5 million people with these disorders (ABS 2022). Coronavirus infects the lungs causing pneumonia and other respiratory disorders affecting patients’ respiration. The emergence of such infectious diseases resulting in a pandemic is driving the ventilator market growth.
Key Industry Players
Major companies operating in the ventilators market include <b>Philips Healthcare, ResMed Inc., Medtronic plc, Becton Dickinson and Company, GE Healthcare, Hamilton Medical AG, Drägerwerk AG & Co. KGaA, Getinge AB, Smiths Group plc, Fisher & Paykel Healthcare Corporation Limited, Air Liquide S.A., Allied Healthcare Products Inc., Teleflex Incorporated, Mindray Medical International Limited, Vyaire Medical Inc., SCHILLER Healthcare India Private Limited, ZOLL Medical Corporation, Asahi Kasei Corporation, Biovo Technologies Ltd., Breas Medical AB, Enexor BioEnergy LLC, Sechrist Industries Inc., Spiritus Medical LLC, Ventis Medical Inc., Airon Corporation, Beijing Aeonmed Co. Ltd., Demax Medical Technology Co. Ltd., FW Equipment Co. Ltd., Hamilton Medical Inc., Heyer Medical AG</b>
The ventilators market report table of contents includes:
1. Executive Summary
2. Ventilators Market Characteristics
3. Ventilators Market Trends And Strategies
4. Ventilators Market – Macro Economic Scenario
5. Global Ventilators Market Size and Growth
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26. South America Ventilators Market
27. Brazil Ventilators Market
28. Middle East Ventilators Market
29. Africa Ventilators Market
30. Ventilators Market Competitive Landscape And Company Profiles
Top Major Players:
- Philips Healthcare
- ResMed Inc
- Medtronic PLC
- Becton Dickinson and Company
- GE Healthcare
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