Medical Ventilator Market Analysis
The global Medical Ventilator Market size is anticipated to grow at a 7.9% CAGR between 2017- 2023, as per the recent analysis by Market Research Future (MRFR). Medical ventilators, simply put, are devices that help critically ill patients with respiration and those that need emergency care. Mechanical ventilators, non-invasive ventilators, and invasive ventilators are the different types of medical ventilators that are used in neonatal care, critical care, emergency care, and others.
Various factors are propelling the global medical ventilator market growth. As per the latest MRFR report, such factors include growing demand for better patient care in hospitals, rising investments in R&D for launching better products, hike in investment for revamping the healthcare sector in developing countries, and better inclusion of top-end products. Additional factors adding market growth include rising number of preterm births, increasing geriatric population, growing cases of respiratory diseases, a growing number of ICU beds, burgeoning need for home care therapeutics, & higher growth in Brazil, India, and China. Besides, the COVID-19 epidemic had a positive impact on different medical sectors. A medical ventilator is a major device which is used for treating COVID-19. This, in turn, has boosted the hospital ventilator market and ICU ventilator market share.
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On the contrary, the possibility of pneumonia from staying ventilated for long and inappropriate reimbursement scenarios may limit the global medical ventilator market growth over the forecast period.
Medical Ventilator Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global medical ventilator market based on application and type.
By type, the global medical ventilator market is segmented into mechanical ventilators, non-invasive ventilators, and invasive ventilators. The non-invasive segment is further segmented into flow-cycled ventilators, time-cycled, volume-cycled, and pressure-cycled. Mechanical ventilators are again segmented into positive pressure ventilators and negative-pressure ventilators. Of these, the invasive ventilation segment will lead the market over the forecast.
By applications, the global medical ventilator market is segmented into neonatal care, critical care, emergency care, and others. Of these, the emergency care segment will dominate the market over the forecast period for the rise in accidents and heart attacks.
Medical Ventilator Market Regional Analysis
By region, the medical ventilator market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific, & the Middle East and Africa. Of these, the Americas will have the lions share in the market over the forecast period. High healthcare expenditure, developed healthcare system, rising cases of respiratory diseases, increasing prevalence of smoking, and rising geriatric population are adding to the global medical ventilator market growth in the region. Besides, the rising prevalence of lifestyle-based diseases causing disorders such as COPD, bronchitis, and asthma, increasing patients in a critical state, and rising surgical procedures are also adding market growth. The US medical ventilator market has the largest share owing to the presence of several leading medical device manufacturers in the country.
The global medical ventilator market in Europe is predicted to hold the second-largest share over the forecast period. Surging demand for mechanical ventilators coupled with rising prevalence of chronic respiratory diseases is adding to the global medical ventilator market growth in the region.
The global medical ventilator market in the APAC region is predicted to grow at a fast pace over the forecast period. The presence of a huge patient pool, threatening environmental pollution, and rising prevalence of chronic heart & respiratory diseases are adding to the global medical ventilator market growth in the region.
The global medical ventilator market in the MEA is predicted to have slow and steady growth over the forecast period.
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Medical Ventilator Market Key Players
Top medical ventilator manufacturers profiled in the global medical ventilators market report include Becton (U.S.), General Electric Company (U.S.), Teleflex Incorporated (U.S.), ResMed (U.S.), Allied Healthcare Products Inc. (U.S.), Hamilton Medical (Switzerland), Dickinson and Company (U.S.), Medtronic (Ireland), and Koninklijke Philips N.V. (the Netherlands).
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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