BANGALORE, India | 7th November 2020: A new Mechanical Ventilator Market Research Report published on Valuates Reports in Medical Devices & Equipment Category. The report contains segmentation by Components – Devices and Services, by Product Type – Intensive Care Unit/Critical Care, Transport/Portable/Ambulatory, and Neonatal Care Ventilator, by Mode – Non-invasive Ventilation and Invasive Ventilation, by Age Group – Pediatric & Neonatal, Adult, and Geriatric, and by End User – Hospital and Clinic, Home Care, Ambulatory Surgical Center, and Others. It also covers Global Opportunity Analysis and Industry Forecast to 2025.
The global mechanical ventilator market size was valued at USD 2.99 Billion in 2019 and is estimated to reach USD 12.54 Billion by 2027 at a CAGR of 16.5% from 2020 to 2027.
Major factors driving the growth of mechanical ventilator market size are the high prevalence of respiratory diseases, the rapid growth in the geriatric population, the growing number of preterm births and technological innovation. Furthermore, the recent COVID-19 outbreak is expected to fuel the mechanical ventilator market size.
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MECHANICAL VENTILATOR COVID_19 IMPACT
The coronavirus pandemic is positively impacting the demand for mechanical ventilators. Due to the COVID-19 outbreak, the need for mechanical ventilators has risen, resulting in a rise in the number of ICU admissions worldwide. The exponential rise in COVID-19 cases worldwide requires long-term and short-term respiratory assistance, thereby increasing the mechanical ventilator market size.
The intuitive steps were taken by governments and manufacturers to curb the initial unpreparedness for the pandemic culminating in an expedited inflow of mechanical ventilators.
TRENDS INFLUENCING THE MECHANICAL VENTILATOR MARKET SIZE
The demand for health facilities providing long-term care for chronic respiratory conditions is projected to be driven by a growing geriatric population base requiring long-term ventilation. The growth in the mechanical market is expected to increase by the growing need for emergency care for prolonged illnesses and prolonged treatment associated with lung diseases in children as well as adults.
One of the main drivers of the mechanical ventilator market size is the rise of the geriatric population vulnerable to respiratory emergencies. In addition, market growth is further complemented by technological advances in respiratory care equipment, including non-invasive ventilation technology and portable mechanical ventilators.
Furthermore, the upgradation of production and technical systems leading to the development of highly compact, durable and smaller high-performance ventilators is expected to drive the mechanical ventilator market size.
MECHANICAL VENTILATOR MARKET SHARE ANALYSIS
Based on type, the intensive care unit care segment accounted for the largest mechanical ventilator market share in 2019. This is due to the increase in demand for transport ventilators during emergencies and the rise in the adoption of portable mechanical ventilators that are easy to use.
Based on mode, the non-invasive ventilator segment is expected to develop at a rapid rate as these ventilators are comfortable for patients, have fewer side effects, and allow for quicker recovery. Non-invasive ventilators are specifically designed for critically ill patients suffering from respiratory failure, congestive heart failure, and for newborns.
North America is expected to hold the largest mechanical ventilator market share based on the region during the forecast period. This dominance of North America is due to the growing number of COVID-19 patients in the U.S. and the existence of leading manufacturers. Furthermore, the U.S. automobile giants have started to manufacture medical supplies such as masks, mechanical ventilators, and other medical equipment. This, in turn, is further projected to provide this regional market with a substantial growth trajectory in the next financial quarters.
Due to growing cases of COVID-19, chronic respiratory diseases, rising healthcare expenditure, and various alliances and strategic agreements, the market in the Asia Pacific is expected to see a substantial growth rate over the forecast period.
KEY MARKET SEGMENTATION
By Product Type
- Intensive care unit/critical care
- Neonatal care.
- Non-invasive ventilation
- Invasive ventilation.
By Age Group
- Pediatric & neonatal
By End User
- Hospital and clinic
- Home care
- Ambulatory surgical center
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
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Major factors driving the growth of the invasive mechanical ventilators market are, increasing prevalence of chronic obstructive pulmonary disease ( COPD) and respiratory diseases, and increased geriatric population coupled with higher incidences of chronic conditions.
However, it is expected that the possibility of ventilator-associated pneumonia will impede the growth of the invasive mechanical ventilators market size.
The Invasive Mechanical Ventilators Market report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by type and application segment in terms of sales and revenue for 2015-2026.
Request a Sample Copy of the Report For COVID-19 Impact Analysis on Invasive Mechanical Ventilator Market: https://reports.valuates.com/request/sample/QYRE-Auto-0Q2405/Global_Invasive_Mechanical_Ventilators
The global Neonatal Ventilator market size is projected to reach USD 343.1 Million by 2026, from USD 281.6 Million in 2020, at a CAGR of 3.3% during 2021-2026.
Major factors driving the growth of the Neonatal Ventilator market size are growing neonatal mortality rates along with the rising number of preterm births with respiratory disorders. Moreover, the demand for the neonatal ventilator is boosted by the growth in disposable income and changes in healthcare settings.
Technical developments with respect to ventilators and growing awareness among healthcare professionals about these products are expected to fuel the neonatal ventilator market size.
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● Medical Mechanical Ventilators Market Research Report 2021-2026, Segmented by Type Non-invasive Ventilator, Invasive Ventilator, By Application Hospital, Clinic, Nursing Home, Key Players & various Regions.
● Critical Care Ventilators Market Research Report 2021-2026, Segmented by Type Portable Ventilators, Stationary Ventilators, By Application Hospital, Clinic, Key Players & various Regions.
● BIPAP Ventilator Market Research Report 2021-2026, Segmented by Type Fixed-BIPAP, Portable BIPAP, By Application Hospital, Clinic, Nursing Home, Key Players & various Regions
● ICU Transport Ventilator Market Research Report 2021-2026, Segmented by Type Non-invasive Transporter Ventilator, Invasive Transporter Ventilator, By Application Public Sector, Private Sector, Key Players & various Regions.
● Portable Ambulatory Ventilators, Global Market Research Report 2021-2026, Segmented by Type Electronic, Pneumatic, Electro-Pneumatic, By Application Hospital, Medical Center, Key Players & various Regions.
● Medical Emergency Ventilator Market Research Report 2021-2026, Segmented by Type Continuous positive Pressure Ventilator, Automatic Positive Pressure Breathing Machine, Bi-Level Positive Pressure Ventilator, By Application Hospital, Clinic, Nursing Home, Key Players & various Regions.
● Mechanical Ventilators for Critical Care Market Research Report 2021-2026, Segmented by Type Non-invasive Ventilator, Invasive Ventilator, By Application Public Hospital,Private Hospital, Key Players & various Regions.
● High Frequency Ventilator Market Research Report 2021-2026, Segmented by Type Portable Ventilators, Stationary Ventilators, By Application Hospital, Clinic, Nursing Home,EMS, Ambulatory care centers, Home cares, Key Players & various Regions.
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