Mechanical Ventilators Market By Product (Intensive Care Unit Ventilators & Accessories, Portable Ventilators & Accessories), By Mode (Invasive Ventilators, Non-Invasive Ventilators), By End-User (Hospitals & Clinics, Home Care, Ambulatory Care Center, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Mechanical Ventilators Market to Expand at a Rapid Pace During the Forecast Period

The global mechanical ventilators market was worth US$ 779.5 million in 2017 and is expected to be worth US$ 1,532.5 million by 2026. The global aging population, combined with the rising prevalence of airway and lung diseases, is expected to drive market growth over the forecast period. In addition, technological developments in mechanical ventilators and the presence of favorable government initiatives across various countries are expected to assist in the market's growth.

The geriatric population is susceptible to developing airway diseases such as chronic obstructive pulmonary disease (COPD), asthma, bronchitis, and other lung diseases like tuberculosis (T.B.), pleural effusion, pulmonary fibrosis, and cystic fibrosis (C.F.). The World Health Organization (WHO) stated that the worldwide population aged 60 years and older will surge from 962.0 million in 2017 to more than 2.0 billion in 2050 and 3.1 billion by 2100. The WHO reported that about 65.0 million patients were suffering from COPD in 2005, which grew to over 174.0 million in 2015 and to 251.0 million cases in 2016 across the world. According to the Global Burden of Disease Study (GBD) and WHO, in 2011, the number of people suffering from asthma was 235.0 million, which rose to 334.0 million in 2014, which is projected to reach around 400.0 million by 2025.

Technological developments in mechanical ventilators are boosting the demand for ventilators. The spontaneous breathing trial (SBT), positive airway pressure (PAP) devices, and Auto-Trak (an auto-adaptive leak compensation technology are designed to achieve patient-ventilator synchrony by mechanically responding to changing breathing patterns and circuit leaks and adjusting variable sensitivity thresholds in order to get an optimum response with each breath), and reporting software that offers improved care Portable or transportable ventilators are gaining popularity in home health care settings. Modern mechanical ventilators are consolidations of actuators, sensors, and digital electronics with sophisticated data processing algorithms in order to provide high accuracy, which is propelling the adoption of mechanical ventilators.

Market Synopsis

The Portable Ventilators & Accessories Segment is expected to grow at a faster rate during the forecast period.

Transportable, portable, or ambulatory ventilators are gaining traction across the globe and are primarily used in home care settings. Rapid launches of portable, cost-effective, and easy-to-use mechanical ventilators for the treatment of airway diseases are likely to witness faster adoption among the population as compared to intensive care unit (ICU) ventilators. Transportable or portable ventilators offer faster and uninterrupted care to patients before they reach a hospital or healthcare setting.

On the other hand, the intensive care unit/critical care ventilators and accessories segment is anticipated to hold a major chunk of the market share due to the increasing prevalence of airway diseases coupled with the rising adoption of critical care mechanical ventilators in hospitals and clinics. Worldwide, surging ICU admissions and re-admissions and the number of ICU beds equipped with ventilators are supporting the dominance.

On the basis of mode, the Invasive Ventilators segment is forecast to command the market from 2018 to 2026.

Owing to a surge in the newborn baby population across the world, the adoption of invasive ventilators is on the rise and is expected to continue its dominance over the forecast period.

The Hospitals & Clinics segment is the most important contributor to the overall growth of the Mechanical Ventilators Market.

According to an independent source, in 2018, there were more than 145,000 hospitals across the globe. The dominance of the hospital segment is being supported by a worldwide increase in the number of hospitals and clinics, as well as comparatively higher adoption of mechanical ventilators during the treatment of respiratory diseases. Additionally, increasing numbers of childbirths in hospitals and clinics, along with a rising number of ICU beds equipped with ventilators, are holding the segment in a prominent position.

The rising burden of respiratory diseases and the presence of favorable reimbursement policies hold North America in a dominant position.

North America spearheaded the market in 2017 owing to the presence of favorable reimbursement policies in the U.S. coupled with the increasing prevalence of respiratory diseases such as COPD, asthma, bronchitis, and other lung diseases like tuberculosis, pleural effusion, pulmonary fibrosis, and cystic fibrosis. Asia Pacific is expected to register a comparatively higher CAGR over the forecast period due to the rising number of intensive care unit admissions and growing awareness among people about respiratory diseases.

Market penetration for emerging players is difficult due to the dominance of established multinational players with strong product portfolios.

Major players in this space are Philips Healthcare, G.E. Healthcare, Medtronic, and B.D. (Becton, Dickinson, and Company), Smiths Medical, Getinge AB, Hamilton Medical, Drägerwerk AG & Co. KGaA, ResMed, and Fisher & Paykel Healthcare Limited. These market participants are adopting growth strategies such as new product launches, mergers and acquisitions, partnerships, and collaborations to gain a competitive advantage. For instance, in August 2017, Hamilton Medical launched the HAMILTON-C6, a new generation of high-end ventilators, in Europe in order to expand its product portfolio.

Periods of History and Forecast

This study report includes an analysis for each segment from 2016 to 2026, with 2017 as the base year. The compound annual growth rate (CAGR) for each of the respective segments is estimated for the forecast period from 2018 to 2026.

Report Scope by Segments

The mechanical ventilators market comprises current market trends and dynamics along with a quantitative analysis of the global market. The report elucidates thorough information about the global mechanical ventilators market by segmenting the market in terms of product, mode, end-use, and geography. This report will assist healthcare professionals and market participants in making decisions and strategizing market positions.

The current report also encompasses qualitative market assessment factors such as market trends, key market drivers, restraints, and opportunities that give a better understanding of the overall mechanical ventilators market. Furthermore, the report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolios, and business strengths. Key industrial players profiled in the study report are Philips Healthcare, G.E. Healthcare, Medtronic, and B.D. (Becton, Dickinson, and Company), Smiths Medical, Getinge AB, Hamilton Medical, Drägerwerk AG & Co. KGaA, ResMed, and Fisher & Paykel Healthcare Limited.

Frequently Asked Questions:

The market for Mechanical Ventilators Market is expected to reach US$ 1,532.5 Mn by 2026.

The Mechanical Ventilators Market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Philips Healthcare, G.E. Healthcare, Medtronic, and B.D. (Becton, Dickinson, and Company), Smiths Medical, Getinge AB, Hamilton Medical, Drägerwerk AG & Co. KGaA, ResMed, and Fisher & Paykel Healthcare Limited. are some of the major players in the global market.

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Published Date:  May 2018
Category:  Medical Devices
Report ID:   59182
Report Format:   PDF
Pages:   120
Rating:    4.4 (60)
Delivery Time: 24 Hours to 48 Hours   
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