As per the recently published report by MarketsandMarkets™, The report “Ventilators Market by Mobility (ICU, Portable), Type (Adult/Paediatric, Neonatal), Mode, Interface (Invasive, Non-invasive), End User (Hospital,Clinic, ACC, Homecare), Key Stakeholder & Buying Criteria, Unmet Need, Reimbursement – Global Forecast to 2028″, is projected to reach USD 5.7 billion in 2028 from USD 4.2 billion in 2023, at a CAGR of 6.4% during the forecast period.
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- 259 Market Data Tables
- 57 Figures
- 290 Pages and in-depth TOC on “ Ventilators Market – Global Forecast to 2028”
Some of the prominent key players are:
- ResMed (US),
- Medtronic (Ireland),
- Vyaire Medical, Inc. (US),
- Getinge AB (Sweden),
- Drägerwerk AG & CO. KGAA (Germany),
- ICU Medical, Inc. (US), and many more……
Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the ventilator market.
- In 2022, the intensive care ventilators segment holds the largest share of the ventilators market. The growth of the intensive care ventilators segment is due to the susceptibility of geriatric individuals to develop severe health problems, the volume of patients being treated in critical care units is increasing, which in turn is driving the demand for intensive care beds.
- In 2022, the adult/pediatric ventilators segment accounted of the ventilators market. The large share of the adult/pediatric ventilators segment can be attributed to chronic diseases such as COPD & asthma, growing tobacco consumption, and the increasing geriatric population.
- In 2021, the hospitals and clinics segment accounted of the ventilators market. The hospitals and clinics segment will continue to dominate the market during the forecast period.
- The APAC market is expected to grow at the highest rate during the forecast period, the growing prevalence of lifestyle related diseases such as obesity, a decreasing mortality rate, and the rising demand for home healthcare, are also driving the demand for ventilators.
In recent years, the the global market has evolved significantly due to technological advancements, such as the development of advanced portable ventilators and improvements in the sensor technologies used in ventilators. The demand for multimodal ventilators has been on the rise due to their versatility and ability to cater to a wide range of patients’ needs within a single device. These ventilators offer various ventilation modes and settings, making them suitable for treating patients with diverse respiratory conditions, from mild to severe. Particularly, during the COVID-19 pandemic, the flexibility of multimodal ventilators became essential in adapting to rapidly changing patient requirements, allowing healthcare providers to transition between modes seamlessly as patient conditions evolved.
