Mechanical Ventilators Market Size, Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Mechanical Ventilators Market


The global Mechanical Ventilators market size is projected to reach US$ 7.17 billion by 2026, from US$ 4.89 billion in 2020, at a CAGR of 6.6% during 2021-2026. Increasing cases of respiratory emergencies and Chronic Obstructive Pulmonary Disease (COPD) are the major factors augmenting the market growth. According to the WHO, in 2016, 251 million people suffered from moderate to severe COPD. Moreover, technological innovations in respiratory care devices contributes to the market expansion. The advent of patient-friendly, cost-effective, and portable devices further encourages their usage.

In addition, supportive government initiatives, especially in emerging economies, will fuel the market development. Manufacturers and assemblers in emerging economies, such as India and China, are focusing on creating cost-efficient, non-invasive ventilation solutions to cater to the local needs and provide flexibility in patient care. Developments, in terms of efficiency, design, and safety resulted in significant benefits, such as improved weaning, better gas exchange, better oxygenation, and least damage to the lungs.

Moreover, integration of high-speed signal processing and on-board intelligent firmware in mechanical ventilation offers other benefits, such as minimal adverse effects on systemic and pulmonary circulation. Increasing target population base requiring long-term treatment for chronic respiratory conditions is expected to drive the demand. As per the report published by United Nations in 2017, the global geriatric population was around 962 million and it is anticipated to reach over 2.1 billion by 2050.

Improving healthcare infrastructure in emerging economies along with rising awareness about the available treatments for chronic respiratory diseases led to rapid adoption of mechanical ventilators in these countries boosting the overall market growth. Increasing government support, awareness level, disposable income, and private funding for prevention and efficient treatment of respiratory diseases are expected to drive the market over the forecast period. Increasing need for emergency treatment for prolonged illnesses and protracted treatment associated with lung diseases in children and adults are further expected to drive the market.

Market Segmentation, Outlook & Viewpoint: Global Mechanical Ventilators Market

Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

Critical Care

  
Ventilators
  
Accessories

Neonatal

  
Ventilators
  
Accessories

Transport & Portable

  
Ventilators
  
Accessories

Others

Key Players, Recent Developments & Regional Insights: Global Mechanical Ventilators Market

On the basis of product, the market has been segmented into critical care, neonatal, transport and portable, and others. Critical care ventilators led the market in 2018 due to their extensive usage in hospitals. Hospitals are encouraging the usage of portable ventilators to provide convenient and faster care. Thus, rising number of hospitals is also expected to fuel the segment growth.

Demand for transport and portable products is experiencing steep growth owing to their efficiency and variety of applications in different care delivery settings ranging from home care to ambulatory centers. Rapidly expanding Point-of-Care (PoC) treatment market and increasing cases of medical emergencies are likely to propel the segment growth. Advent of highly compact and robust ventilators providing high-performance is expected to impel the segment development. The neonatal segment is also projected to have a considerable growth over the years to come.

Regional Insights

Asia Pacific is considered to be the most lucrative regional market for mechanical ventilators owing to increasing cases of chronic respiratory diseases, rising healthcare expenditure and tax benefits provided by the regional governments. Moreover, infrastructural development and improved healthcare policies promoting better care provision will drive the regional market further. Chinas Five Year Plan from 2016 includes various healthcare reforms that support the expansion of the market within the region. According to various economic reports, over the next seven years, the healthcare spending per capita is expected to rise in this region, providing huge growth opportunities for the global market.

Europe is also anticipated to register a lucrative growth during the forecast period due to a significant rise in the cases of COPD. According to the European Lung Foundation, each year, around 2 to 3 lack deaths occur because of COPD. Presence of major companies, such as GE Healthcare and Draeger, in Europe will also help spur the regions growth. North America accounted for the largest market share in 2018 and is estimated to maintain the dominance over the coming years. Moreover, rising geriatric population in the U.S. is leading to the increasing incidences of respiratory disorders, which further boosts the market growth.

Mechanical Ventilators Market Share Insights

Some of the prominent companies in the global market include Draeger Medical, GE Healthcare, Maquet Holding B.V. and Co. KG, Koninklijke Philips N.V., Teleflex, and Smiths Medical. These companies are actively involved in product innovations and technological advancements to sustain their position in the market. For example, In August 2017, Koninklijke Philips N.V., launched portable ventilators under the name of Trilogy in North America. It was developed to help clinicians in improving the care levels of ventilated patients. The device can send data to the health care provider and offers remote patient monitoring solution, which can also help in reducing re-admissions in hospitals.

Key Insights Covered: Global Mechanical Ventilators Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Mechanical Ventilators industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Mechanical Ventilators industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Mechanical Ventilators industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Mechanical Ventilators industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Mechanical Ventilators industry.

Research Methodology: Global Mechanical Ventilators Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other