Authored By: Sarah
24 Oct 2024

increasing prevalence of respiratory diseases is driving the Mechanical Ventilators Market

Latest News:- Mechanical Ventilators Market: Hospitals is expected to lead the End-user segment during 2024-2028

Technavio analyzes that the Mechanical Ventilators Market is expected to grow at a CAGR of 6.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2005.3 million.There are various factors that contribute to the growth of the market. The Mechanical Ventilators market is experiencing significant growth due to the rising prevalence of respiratory diseases worldwide. According to the World Health Organization, approximately 300 million people suffer from chronic obstructive pulmonary disease (COPD), asthma, and other respiratory conditions. In critical situations, mechanical ventilators play a crucial role in providing breathing support to these patients, making the market for these devices a vital sector in healthcare. The increasing burden of respiratory diseases is driving the demand for advanced mechanical ventilators that offer improved patient outcomes and enhanced functionality.

The global mechanical ventilators market is experiencing significant growth due to various factors, including the increasing prevalence of chronic conditions such as COPD, apnea, acute lung injury, and hypoxia, which necessitate the use of mechanical ventilators in hospitals. Moreover, demographic trends, such as aging populations and lifestyle influences, are driving the demand for advanced medical infrastructure in hospitals. The adoption of smart technology and digital sensors in mechanical ventilators is also a key trend, as it enables remote monitoring and real-time analysis of patient data. Healthcare reforms and regulatory standardization are further boosting the market, as they promote the use of high-quality medical products and consumables in hospitals. The proliferation of large hospitals equipped with advanced medical infrastructure is particularly noteworthy, as they are major consumers of mechanical ventilators. These hospitals procure these devices in bulk, making them a significant growth driver for the market during the forecast period. Portable ventilators, known for their ease of use, speed, and continuous patient care capabilities, are also gaining popularity in hospitals. 

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Mechanical Ventilators Market Segmentation

  • End-user
    • Hospitals
    • Ambulatory surgery centers
    • Home-care settings
  • Product
    • Critical care ventilators
    • Portable ventilators
    • Neonatal
  • Technology
    • Non-invasive
    • Invasive
  • Geography
    • North America
    • Europe
    • Asia
    • Rest of World (ROW)

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

  • Air Liquide SA
  • Allied Healthcare Products Inc.
  • Asahi Kasei Corp.
  • Boston Scientific Corp.
  • Dragerwerk AG and Co. KGaA
  • Fisher and Paykel Healthcare Corp. Ltd.
  • General Electric Co.
  • Getinge AB
  • Hamilton Co.
  • ICU Medical Inc.
  • Koninklijke Philips N.V.
  • Medtronic Plc
  • MicroPort Scientific Corp.
  • Nihon Kohden Corp.
  • ResMed Inc.
  • SCHILLER AG
  • Shenzhen Mindray BioMedical Electronics Co. Ltd
  • Smiths Group Plc
  • Stryker Corp.
  • Vyaire Medical Inc.

Find out what is trending in the market by accessing the free PDF report

Research Analysis Overview

Mechanical ventilators are essential respiratory devices used in the treatment of various chronic and acute respiratory conditions, including asthma, obstructive sleep apnea, exertional dyspnea, pulmonary embolism, and respiratory interventions for sleep apnea. These devices provide artificial breathing for patients with mobility issues or those suffering from chronic diseases like chronic obstructive pulmonary disease (COPD), cystic fibrosis, or neuromuscular disorders. Mechanical ventilators are used extensively in intensive care units for disease management in pediatric and adult cases of respiratory disorders, such as ventilator-associated pneumonia, acute respiratory distress syndrome, and respiratory failure. Vaccination programs and advancements in technology have improved the safety and effectiveness of mechanical ventilators, making them indispensable in the treatment of both neonates and adults with acute medical conditions.

Market Research Overview

The Mechanical Ventilators market is a significant segment of the global healthcare industry, which encompasses entities involved in the research and development (R&D) or production of medical equipment. According to Technavio's market analysis, the global pharmaceuticals market, which includes equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services, is expected to expand due to several factors. One of these factors is the demographic shift towards an aging population. By 2050, approximately one-quarter of the US population and by 2030 in Europe, are projected to be over 60 years old. This demographic trend will increase the prevalence of chronic respiratory conditions such as asthma, obstructive sleep apnea, exertional dyspnea, and pulmonary embolism, thereby driving the demand for mechanical ventilators in the healthcare sector.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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