Global Ventilator Market to Witness A CAGR of Around 13% During The Forecast Period, 2023-28

Global Ventilator Market to Witness A CAGR of Around 13% During The Forecast Period, 2023-28

January 12, 2024

MarkNtel Advisors has recently published a research report, according to which the Global Ventilator Market is anticipated to expand at a CAGR of around 13% during the forecast period, i.e., 2023-28. Such projection is said to be backed by factors such as the rising prevalence of chronic & acute respiratory disorders, especially after the COVID-19 pandemic that has called for a subsequent increase in ICU admissions. Our report aims to provide valuable insights and assist clients in navigating the Global Ventilator Market, addressing key concerns pertinent to this industry. Our comprehensive approach aims to help them make informed decisions and thrive in this evolving landscape.

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Global Ventilator Market Research Report: Forecast (2023-2028)

  • By Type (Adult/Pediatric Ventilation, Infant/Neonatal Ventilation)
  • By Interface (Invasive Ventilation, Non-Invasive Ventilation)
  • By Mode (Combined-Mode Ventilation, Volume-Mode Ventilation, Pressure Mode Ventilation)
  • By Mobility (Portable, Intensive Care Unit)
  • By End-User (Hospitals and Clinics, Homecare, Ambulatory Care Centers, Emergency Medical Services)
  • By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, China, India, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Nigeria)
  • By Company (Philips, ResMed, Medtronic, Becton Dickinson, GEHealthcare, Getinge, Air Liquide, Hamilton Medical, Smith’s Group, Drager, Fisher and Paykel, Others)

The global adoption of non-invasive ventilation (NIV) interfaces is experiencing a rapid increase, significantly contributing to the overall growth of the ventilator market. In contrast to invasive ventilation methods, NIV offers ventilator support without the use of tracheostomy or endotracheal tubes.

Technological advancements have made non-invasive ventilators more portable and efficient, enhancing their accuracy and reliability in diagnosing respiratory illnesses. The increasing prevalence of conditions like COPD, asthma, and pneumonia, coupled with advancements in diagnostic tools, has led to improved diagnostic rates for these respiratory conditions. Consequently, the demand for NIV oxygen systems, including non-invasive positive pressure ventilation (PPV) and high-flow nasal cannula oxygen delivery, is experiencing a significant surge. This trend is fueling the overall growth of the global ventilator market.

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The global market for Intensive Care ventilators dominates due to increased adoption in hospitals, fueled by rising ICU admissions post-Covid-19. Offering invasive and non-invasive modes with advanced monitoring, these ventilators are crucial in healthcare settings. Government investments in healthcare infrastructure worldwide contribute to growing demand, driven by the surge in cardiac ailments and respiratory emergencies. Simultaneously, portable ventilators gain traction globally, enhancing patient safety in home care and ambulatory settings. Continuous technological advancements, such as improved design and monitoring systems, propel the demand for portable ventilators, promising lucrative prospects for the ventilator market in the future.

North America Leads the Ventilator Market Globally

Thanks to the top-tier medical facilities, substantial investments in healthcare, and a rising incidence of chronic respiratory ailments like asthma and COPD, the region is likely to witness expansion.  Other than these, the market experiences a notable boost due to escalating research funds, swift technological advancements in healthcare apparatus and treatments, and the robust presence of leading manufacturers introducing innovative products and enhancing their offerings.

The well-established healthcare infrastructure in the United States and Canada contributes to the introduction and widespread adoption of advanced ventilator systems in North America. The region benefits from a considerable supply of ICU beds, further intensifying the demand for critical care equipment, including ventilators, driven by the escalating need for patient-centric care in the US.

Likewise, the North American Ventilator Market is fueled by favorable reimbursement policies for respiratory care, a growing demand for sophisticated ventilators in home care settings, an increasing incidence of preterm births, rising ICU admissions in hospitals, a growing elderly population, and various government initiatives aimed at facilitating access to advanced treatments. These factors collectively project a substantial expansion of the North American Ventilator Market through 2028.

About Us:

MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients to identify attractive investment opportunities and maximize ROI through an early mover advantage.

We understand the growing need of our clients and thus focus on emerging industries to provide our services which can fulfil their need for assessing the current and future industry potential, identification of white spaces & hotspots and venturing into new geographies or business segments.

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