Medical Ventilator Market Overview by Share, Size, SWOT Analysis, Segmentation, Emerging Trends, Future Outlook, Applications, Insights, Profile, key Players, Future Outlook, PESTEL analysis with Regional Insights of North America, Asia-Pacific, Europe, and the Middle East & Africa, Forecast To 2023
The extensively conducted Medical Ventilator Market study by Market Research Future (MRFR) reveals that the demand for ventilators is increasing due to the amalgamation of various factors. A medical ventilator is an artificial respiratory assistance machine that is designed to provide ventilation to patients who struggle with breathing. Assisting individuals with their breathing is a highly delicate task, wherein the reliability and safety of the equipment is of utmost importance. Ventilators are primarily used in intensive care medicine, emergency medicine, home care, and in anesthesiology.
It provides mechanical ventilation by passing breathable air into and out of the lungs. Some of the major reasons behind needing a medical ventilator are Cystic Fibrosis, injury to the spinal cord, drug overdose, pneumonia or any other type of respiratory disease, stroke, Chronic Obstructive Pulmonary Disease (COPD), blood clot, during surgery that requires general anesthesia, lung injury, and while being in intensive care. Ventilators are either invasive or non-invasive and mechanical. The factors include the rising percentage of critically ill patients, prevalence of lifestyle-based disorders like respiratory issues and heart attacks, high occurrences of chronic illness among children, and the need for ventilators in emergency care. The expected market growth of Medical Ventilators is projected to be 7.9% during the forecast period.
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However, amidst the market growth and proliferating demand, there lies a risk associated with the use of ventilation. Patients can be diagnosed with pneumonia if they are ventilated for a long period of time. Not to mention, pneumonia is one of the most common hospital-acquired infections.
Competitive Analysis
Some of the key players in the medical ventilators market are Koninklijke Philips N.V. (the Netherlands), Medtronic (Ireland), Dickinson and Company (U.S.), Hamilton Medical (Switzerland), Allied Healthcare Products Inc. (U.S.), ResMed (U.S.), Teleflex Incorporated (U.S.), General Electric Company (U.S.), and Becton (U.S.)
Oct 2018, an Asahi Kasei Group company named ZOLL Medical Corporation, which manufactures medical devices and relevant software solutions, announced the introduction of Z Vent transport ventilator for usage in pre- and intra-hospital. The Z Vent possesses a simple Touch, Turn, and Confirm interface that makes ensures quick setting changes. The move is aimed at removing the complexity that is associated with various portable ventilators.
Nov 2018, world-renowned technology company announced that its V60 Plus Ventilator has received the CE Mark of approval. The Ventilator is designed to ensure optimal efficiency and enhance clinician workflow.
Market Segmentation
The market segmentation of the medical ventilators is segmented in terms of type and application.
By type, the market includes invasive, non-invasive, and mechanical ventilators. The non-invasive ones are further sub-segmented into pressure-cycled, volume-cycled, time-cycled, and flow-cycled ventilators. Mechanical ventilators are narrowed down into negative-pressure ventilators and positive pressure ventilators.
By applications, the market includes emergency care, critical care, neonatal care, and others.
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Regional Analysis
The regional analysis of Medical Ventilators provides us with a better overview of the market. The market comprises of four major regions: Asia-Pacific, the Middle East & Africa, Americas, and Europe.
Americas is the largest market player of medical ventilators worldwide with over 60% of the global share due to a number of factors. The increasing incidences of lifestyle-based diseases leading to disorders like asthma, bronchitis, chronic obstructive pulmonary diseases, and other disorders are driving the market growth in this region. Additionally, an increasing percentage of patients in critical state, increasing surgical procedures, rising smoking addiction, and the presence of a wide array of medical device manufacturers in the US are all key factors boosting the market growth.
Europe comes in second in terms of market growth and much of it can be attributed to the growing population of chronic respiratory diseases, demand for mechanical ventilators, and other factors.
Asia Pacific is slated to be the fastest-growing regional market. The wide-spread prevalence of respiratory and chronic heart diseases, threatening environmental pollution, and the presence of a large patient pool are all projected to contribute to the growth of the market herein. Lastly, the Middle East & Africa is expected to show slow and steady progress during the assessment period.
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