Published : 05, 2020
The medical ventilators are life supporting healthcare device. It regulates breathing of patient in the time of treatment. Medical ventilators are used in the condition of serious lung disease as well as for other conditions which result in improper working of respiratory system. It helps patient to breathe easily.
In addition, the medical ventilators market is observing strong demand on account of the Corona virus (Covid-19) pandemic crisis. The companies are working to speed up production for ventilators.
Rising incidence of chronic diseases such as respiratory and pulmonary diseases, technological advancements, and increasing healthcare spending are anticipated to drive the demand for medical ventilators in the years to come. Furthermore, outbreak of new novel pandemic diseases such as COVID-19, increasing aging population and rising number of intensive care beds in developing countries are propelling the market growth in the forecast period.
On the other hand, high cost medical ventilators and lack of standardized nomenclature for different ventilation modes are expected to restrain the market in the near future. Growing demographics in the emerging countries such as China and India are likely to offer new opportunities for growth of market in Asia.
However, complications concerned in the use of ventilators are a challenge for market. The emerging trend in the global medical ventilator market are increasing preference for home care and portable ventilators and increasing acceptance of home medical ventilators.
In April 2020, the Medtronic is anticipated to ramp up its production by approximately five-fold to more than 1,000 ventilators per week by June-end, and make above 25,000 devices available over the next six months. In addition, the U.S. automotive giants like Ford, GM, and Tesla have switched to manufacturing of medical supplies such as breathing machines and masks.
The global medical ventilator market is segmented on the basis of interface, mobility, patient group, application, end user and geography.
Based on interface type, the global market is bifurcated into Non-invasive and Invasive. The invasive interface segment is anticipated to grow high in the forecast period. The extensive applications in neurological diseases, sleeping disorders, and respiratory diseases are the key factor supporting the growth of the invasive segment.
On the basis of mobility, the global medical ventilator market can be segmented into portable and standard. In 2017, the ICU ventilators i.e. standard ventilators accounted for the largest share. The portable segment is anticipated to grow at fastest CAGR in the forecast period. The growth is attributed to the demand for user-friendly, low cost, and flexible portable ventilators are propelling the demand for portable ventilators.
Based on the patient group, the global market segmented into neonates & pediatrics, adults and hospitals. The adult and neonates & pediatric sector accounted for the largest share of the overall medical ventilators market. This growth is attributed to the high acceptance of ventilation support in the aged population on account of their weak immune response, and increasing pollution levels. In addition, the outbreak of pandemic corona virus has led to the increasing number of adult patient admissions in hospitals, thereby increasing the growth of the sector in the years to come.
Based on the end-user, the global market is segmented into emergency care providers, homecare settings, Hospitals and others. The home care settings sector is anticipated to record the highest CAGR in the years to come. The high growth of the home care sector can be attributed to the increasing per capita income, increased awareness regarding advanced technologies among doctors and patients, and increasing acceptance of home healthcare products.
Geographically, the market is divided into North America, Asia-Pacific, Europe, Latin America and Middle East & Africa. North America is anticipated to boost the highest demand across the globe. As North America has largest market for medical ventilators. In addition North America is followed by Europe on account of the technological advancements, availability of advanced healthcare infrastructure.
Asia is anticipated to experience high growth rate in the medical ventilators market in next few years on account of the improvement in healthcare technologies in the region and developing countries.
The key companies in the global medical ventilator market are Dragerwerk AG & Co. KGaA, ACOMA Medical Industry Co., Ltd., Bio-Medical Devices Intl, MAQUET Holding B.V. & Co. KG., GE Healthcare, Bunnell Incorporated, CareFusion Corporation, Covidien, Koninklijke Philips N.V., and Teleflex Incorporated.
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