"Mechanical Ventilators Market to Exhibit Lucrative Growth during the Forecast Period"

The global mechanical ventilators market accounted for market value of US$ 779.5 Mn in 2017 and expected to attain US$ 1,532.5 Mn by 2026. Worldwide growing geriatric population coupled with increasing prevalence of airway and lung diseases are anticipated to foster the market growth over the forecast period. In addition, technological developments in mechanical ventilators and the presence of favorable government initiatives across various countries are expected to assist in the market growth.

Geriatric population is susceptible to develop airway diseases such as chronic obstructive pulmonary disease (COPD), asthma, bronchitis, and other lung diseases like tuberculosis (TB), pleural effusion, pulmonary fibrosis, and cystic fibrosis (CF). The World Health Organization (WHO) stated that worldwide population aged 60 years and above will surge from 962.0 million in 2017 to more than 2.0 billion in 2050 to 3.1 billion by 2100. The WHO reported that about 65.0 million patients were suffering from the COPD in 2005, which grew to over 174.0 million in 2015, to 251.0 million cases in 2016 across the world. According to the Global Burden of Disease Study (GBD) and WHO, in 2011, a number of people suffering with asthma was 235.0 million which rose to 334.0 million in the year 2014, which is projected to reach around 400.0 million by 2025.

Technological developments in mechanical ventilators are boosting the demand for ventilators. The spontaneous breathing trial (SBT), positive airway pressure (PAP) devices, Auto-Trak (an auto-adaptive leak compensation technology is designed to achieve patient ventilator synchrony through mechanically responding to changing breathing patterns & circuit leaks and adjusting variable sensitivity thresholds in order to get optimum response with each breath), and reporting software that offer improved care. Transportable or portable ventilators are gaining higher momentum among home care settings. Modern mechanical ventilators are consolidations of actuators, sensors and digital electronics with sophisticated data processing algorithms in order to provide high accuracy are propelling the adoption of mechanical ventilators.

"The Portable Ventilators & Accessories Segment is expected to Register Comparatively Higher Growth over the Forecast Period"

Transportable or portable or ambulatory ventilators are gaining traction across the globe and are majorly used at home care settings. Rapid launch of portable, cost-effective, and easy-to-use mechanical ventilators for the treatment of airway diseases are likely to witness faster adoption among population as compared to intensive care unit (ICU) ventilators. Transportable or portable ventilators offer faster and uninterrupted care to patients before reaching to a hospital or healthcare settings.

On the other hand, the intensive care unit/critical care ventilators & accessories segment is anticipated to hold major chunk of the market share due to increasing prevalence of airway diseases coupled with rising adoption of critical care mechanical ventilators in hospitals & clinics. Worldwide surging ICU admissions & re-admissions and the number of ICU beds equipped with ventilators are supporting the dominance.

"On the Basis of Mode, the Invasive Ventilators Segment is forecast to Command the Market From 2018 to 2026"

Owing to a surge in the newborn baby population across the world, the adoption of invasive ventilators is on the rise and is expected to continue the dominance over the forecast period.

"Hospitals & Clinics Segment Contribute Maximum to the Overall Growth of Mechanical Ventilators Market"

According to an independent source, in 2018, there are more than 145,000 hospitals across the globe. Worldwide surge in the number of hospitals & clinics coupled with comparatively higher adoption of mechanical ventilators during the treatment of respiratory diseases is supporting the dominance of the hospitals segment. Additionally, increasing number of childbirth in hospitals & clinics along with rising number of ICU beds equipped with ventilators are holding the segment at the prominent position.

"Rising Burden of Respiratory Diseases and the Presence of Favorable Reimbursement Policies Holds North America in Dominant Position"

North America spearheaded the market in 2017 owing to the presence of favorable reimbursement policies in the U.S. coupled with increasing prevalence of respiratory diseases such as COPD, asthma, bronchitis, and other lung diseases like tuberculosis, pleural effusion, pulmonary fibrosis, and cystic fibrosis. Asia Pacific is expected to register comparatively higher CAGR over the forecast period due to rising number of intensive care unit admissions and growing awareness among people about respiratory diseases.

"Dominance of Established Multinational Players with Strong Product Portfolio Makes Market Penetration Difficult For Emerging Players"

Major players in this space are Philips Healthcare; GE Healthcare; Medtronic; BD (Becton, Dickinson and Company); Smiths Medical; Getinge AB; Hamilton Medical; Drägerwerk AG & Co. KGaA; ResMed; and Fisher & Paykel Healthcare Limited. These market participants are adopting growth strategies such as new product launches, mergers & acquisitions, partnerships, collaborations to gain a competitive advantage. For instance, in August 2017, in Europe, Hamilton Medical launched HAMILTON-C6, a new generation of high-end ventilator in order to expand its product portfolio.

The current report also comprehends qualitative market assessment factors such as market trends, key market drivers, restraints and opportunities that gives a better market understanding of the overall mechanical ventilators market. Furthermore, the report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths. Key industrial players profiled in the study report are Philips Healthcare; GE Healthcare; Medtronic; BD (Becton, Dickinson and Company); Smiths Medical; Getinge AB; Hamilton Medical; Drägerwerk AG & Co. KGaA; ResMed; and Fisher & Paykel Healthcare Limited.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Mechanical Ventilators market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Mechanical Ventilators market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Mechanical Ventilators market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Mechanical Ventilators market?
• Which is the largest regional market for Mechanical Ventilators market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Mechanical Ventilators market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Mechanical Ventilators market worldwide?