Ventilators Market worth $1.9 billion in 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 3, 2022 /PRNewswire/ -- According to the new market research report "Ventilators Market by Mobility (Intensive Care, Portable), Type, Mode (Volume, Pressure, Combined), Interface (Invasive, Non-invasive), End-User (Hospital, Clinic, Home Care, ACC, Emergency Medical Services), Region - Global Forecast to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 1.9 billion in 2026 from USD 1.4 billion in 2021, at a CAGR of 7.6% during the forecast period.
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212 - Tables
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A ventilator, breathing machine, or respirator is a machine that assists with breathing. It is mainly used in hospitals to treat chronic obstructive pulmonary disease (COPD), sleep apnea, acute lung injury, and hypoxemia. Over the years, the Ventilators Market has evolved significantly due to technological advancements, such as developing advanced portable ventilators and improvements in the sensor technologies used in ventilators. The increasing number of preterm births, rapid growth in the geriatric population, rising prevalence of respiratory diseases, rising number of ICU beds, and rising number of COVID-19 patients are expected to drive growth in the market during the forecast period. The emergence of home healthcare has opened new avenues for the ventilator market. Convenience and comfort in the home care environment, coupled with cost advantages, are the other major factors driving growth in the home healthcare market for ventilators.
By mobility, the intensive care segment is expected to account for the largest share of the Ventilators Market
The intensive care segment accounted for the largest share of the global ventilator market in 2020. The large share of the intensive care ventilators segment can be attributed to the rising number of intensive care beds equipped with ventilators. Increasing ICU admissions due to COVID-19 and re-admissions in developed countries, coupled with appropriate reimbursements, are also responsible for the large share of the ICU ventilators segment.
On the basis of type, adult/pediatric ventilators segment is expected to account for the largest share of the Ventilators Market
Based on type, the ventilator market is segmented into adult/pediatric ventilators segment and neonatal/infant ventilators. The adult/pediatric ventilators segment accounted for the largest share of the market in 2020. The large share of the adult/pediatric ventilators segment can be attributed to the large adult population suffering from COVID-19, the growing incidence of chronic diseases such as COPD & asthma, the growing number of smokers, and the rising geriatric population.
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On the basis of interface, invasive ventilation segment is expected to account for the largest share of the Ventilators Market
Based on interface, the invasive ventilation segment accounted for the largest share of the Ventilators Market in 2020. Growth in the invasive ventilation market can be attributed to the increasing severity in COVID-19 patients and the rising prevalence of respiratory diseases, neurological diseases, and sleeping disorders.
On the basis of mode, the combined-mode ventilation segment is expected to account for the largest share of the Ventilators Market
Based on mode, the combined-mode ventilation segment accounted for the largest share of the market in 2020. The large share of this segment can be attributed to its advantages over conventional pressure-mode ventilation and volume-mode ventilation. The ability of combined-mode ventilation to provide both modes of ventilation makes it a desirable product in the market.
On the basis of end user, hospitals & clinics segment holds the highest market share in the Ventilators Market
Based on end user, the hospitals & clinics segment is likely to dominate the ventilator market during the forecast period is attributed to the financial capabilities of hospitals to purchase high-priced instruments and the availability of trained professionals to operate ventilators. Market growth is also driven by the rapidly increasing incidence of coronavirus disease. The COVID-19 outbreak has not only created pressure on healthcare resources but has also increased the number of hospital admissions.
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North America to dominate the Ventilators Market during the forecast period
The ventilator market in North America dominated the market in the forecast period. The rising geriatric population, growing number of smokers, high prevalence of respiratory diseases, increasing COVID-19 patient volumes, highly developed healthcare system, high healthcare expenditure, and major market players in the US are the key factors driving the market in North America.
Prominent players in the Ventilators Market include Koninklijke Philips N.V. (Netherlands), ResMed (US), Medtronic (Ireland), Fisher & Paykel Healthcare Limited (New Zealand), Drägerwerk AG & CO. KGAA (Germany), Nihon Kohden Corporation (Japan), Getinge AB (Sweden), Asahi Kasei Corporation (Japan), Air Liquide (France), Vyaire Medical, Inc. (US), GE Healthcare (US), Hamilton Medical (Switzerland), Smiths Group plc (UK) and Allied Healthcare Products, Inc. (US).
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