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Ventilators Market Size to Reach USD 9.13 Billion by 2027, COVID-19 Pandemic to Significantly Contribute to Growth

July 09, 2020 | Healthcare

The global ventilators market size is estimated to reach USD 9.13 billion by 2027 on account of the increasing prevalence of chronic and acute conditions. It act as artificial respirators and move the breathable air in and out of the lungs, thus delivering oxygen to the patient who is unable to breathe or who breathes insufficiently. As per a recent report by Fortune Business Insights, titled, “Ventilator Market Size, Share & Covid-19 Impact Analysis, By Type (Adult, and Pediatric & Neonatal), By Interface (Invasive, and Non-invasive), By End User (Hospitals, Specialty Clinics, and Others), and Regional Forecast, 2020-2027,” the market stood at USD 2.54 billion in 2019 and would exhibit a CAGR of 5.0% between 2020 and 2027.


Arab Health Hosts Launch of New ICU Ventilators by Dragerwerk


A German company called Dragerwerk AG launched multiple new medical products at the healthcare conference and trade show called Arab Health in January 2020. Among the many medical equipment were anaesthesia workstation and the new Evita V800 and V600 ventilators, especially designed for supporting the daily clinical tasks performed in the Intensive Care Unit (ICU).


Both these ventilators have an aesthetic design and can operate with high performance and efficiency. These can also be used in the most stressful scenarios as they have an intuitive menu and can access the patient’s clinical data and settings. The patient alarms and data can be quickly recorded and exported with the help of USB interface. There is also a 360-degree alarm light with various colours that flashes light in terms of priority and has a multidirectional approach. Such innovative product launches by players are likely to augment the ventilator market growth in the coming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/ventilator-market-103257


Rising Number of Preterm Births to Increase Demand for Pediatric Ventilator


The increasing prevalence of chronic and acute ailments that propels the use of intensive and critical care units in medical health centres is the significant factor promoting the ventilators market growth. This, coupled with the increasing cases of preterm birth that requires ventilation, is also adding a boost to the market. Besides this, the rising instances of coronavirus and the introduction of new products by key players in the market are expected further to add impetus to the market in the coming years.


On the contrary, complications such as renal impairment, alkalosis, cardiac output, and gastric problems may pose hindrances to the market in the coming years. This, coupled with the fact that hospitals and medical centres are not able to cope up with the increasing number of ICU cases as a result of the rising number of chronic diseases would obstruct growth. Therefore, there is a shortage of beds for ICU, and this also poses a significant challenge to the market.


Nevertheless, the increasing up-gradation of healthcare infrastructure and the advent of mechanical ventilation are likely to create lucrative growth opportunities in the coming years.


Koninklijke Philips, Hamilton Medical, & Others Covering Notable Share Owing to Investment in Product Development


Most of the players functioning in the market are focusing on the development of advanced mechanical ventilator for attaining a significant position in the market. They are also investing majorly on product enhancement and development. Besides this, they are engaging in mergers and acquisitions, contracts and agreements, joint ventures, and other strategies to gain a competitive edge in the market.


Key Industry Developments of Market Include:



  • August 2017 –  HAMILTON-C6, a high-end ventilator was launched by Hamilton Medical. They are the high-end ventilators of the new generation combining easy-to-use, mobility, modularity, and advanced features that would help physicians to ensure lung-protected therapy of ventilation for patients of all age groups.


List of Notable Players in the Market are:



  • Vyaire Medical, Inc.

  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

  • Koninklijke Philips N.V.

  • GE Healthcare

  • Hamilton Medical AG

  • Drägerwerk AG & Co. KGaA

  • Getinge AB

  • Medtronic

  • Others Players


Further Report Findings:



  • North America earned USD 0.88 billion in 2019 and emerged dominant owing to the presence of upgraded healthcare infrastructure, well-developed medical facility, and favourable reimbursement policies.

  • Based on segmentation by type, the adult segment earned the highest share in  2019 on account of the increasing prevalence of chronic diseases among the adult population.


The Global Market is classified into:











































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD billion)



Segmentation



By Type



  • Adult

  • Pediatric & Neonatal



By Interface



  • Invasive

  • Non-invasive



By End-User



  • Hospitals

  • Speciality Clinics

  • Others



By Geography



  • North America (the U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)

  • The Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)


Ventilators Market
  • PDF
  • 2019
  • 2016-2018
  • 135

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    8850

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