Rising prevalence of respiratory diseases, increasing incidence of preterm births, urbanization and growing pollution levels, high prevalence of tobacco smoking, rapid growth in the geriatric population, and rising number of ICU beds are the major factors driving the growth of the ventilators market.
The report Ventilator Market is projected to reach USD 1.72 billion by 2027 from USD 0.93 billion in 2019, at a CAGR of 8.0%.
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On the basis of interface, the invasive ventilation segment accounted for the largest share of the ventilators market. The large share of this segment is due to the high prevalence of tobacco smoking, increasing prevalence of chronic diseases such as COPD & asthma, rapid growth in the geriatric population, and improving healthcare affordability in developed countries.
On the basis of mobility, the intensive case ventilators segment accounted for the largest share of the global ventilators market. The large share of this segment is attributed to the rising number of ICU beds and rising adoption of equipping the ICU beds with ventilators.
Based on type, the adult/pediatric ventilators segment held the largest market share of ventilators market. The large share of this segment can be attributed to the large patient population with severe COPD, asthma, and other chronic respiratory diseases; rising number of smokers; and rapid growth in the geriatric population.
Based on end user, the hospitals & clinics segment accounted for the largest share of the ventilators market.
North America accounted for the largest share of the ventilators market in 2018, followed by Europe and Asia Pacific.
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The prominent players in the global ventilators market are Philips Healthcare (Netherlands), ResMed (US), Medtronic (Ireland), Becton, Dickinson and Company (US), Getinge (Sweden), Dräger (Germany), Smiths Group (UK), Hamilton Medical (Switzerland), GE Healthcare (US), Fisher & Paykel (New Zealand), Air Liquide (France), Zoll Medical (US), Allied Healthcare Products (US), Airon (US), Mindray (China), and Schiller (Switzerland).