Ventilators Market worth $4.66 billion by 2029
The report "Ventilators Market by Mobility (Intensive Care Ventilators, Transportable Ventilators), Type (Adult & Pediatric Ventilators), Interface (Hybrid Ventilation), Mode (Combined Mode Ventilation), Care Setting (Hospitals & Clinics) - Global Forecast to 2029", is projected to reach USD 4.66 billion by 2029 from USD 3.71 billion in 2024 at a CAGR of 4.7% during the forecast period.
Browse 286 market data Tables and 67 Figures spread through 291 Pages and in-depth TOC on "Ventilators Market by Mobility (Intensive Care Ventilators, Transportable Ventilators), Type (Adult & Pediatric Ventilators), Interface (Hybrid Ventilation), Mode (Combined Mode Ventilation), Care Setting (Hospitals & Clinics) - Global Forecast to 2029"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/ventilators-market-11018337.html
The growth in the market for ventilators is driven by a series of key drivers, among which are rising cases of respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD), asthma, and acute respiratory distress syndrome (ARDS). The population aging globally, which is prone to respiratory disorders, also drives demand for ventilators. Additionally, improvements in medical technology, including the application of artificial intelligence (AI) and remote monitoring, are improving ventilator performance and patient outcomes. Rising investment in healthcare infrastructure, especially in emerging markets, and the increase in the use of non-invasive and homecare ventilators are also driving market growth. In addition, government incentives and strategic partnerships among medical device manufacturers are still driving innovation and access to ventilator solutions.
This report categorizes the ventilators market based on type, age group, interface, mode, care settings and region.
Based on type, intensive care ventilators segment accounted for the largest share ventilators market
In 2021, the intensive care ventilators segment accounted for the largest share of the ventilators market. ICU ventilators are life-saving to treat critically ill individuals, particularly those with acute respiratory distress, severe pneumonia, ARDS, and post-operative conditions requiring constant respiratory support. The prevalence of respiratory disease, aging population, and rising number of ICU admissions contribute further to the demand.
Technological advances including closed-loop ventilation, lung-protective ventilation, and artificial intelligence-driven monitor devices increase their effectiveness and performance, rendering them irreplaceable in intensive care units. On the other hand, more hospital-based reimbursement practices for ventilatory support and government funds flowing incessantly into ICU equipment further heighten the market dominance of intensive care ventilators.
Based on age grooup, the adult/pediatric ventilators segment accounted of the ventilators market
In 2021, the adult/pediatric ventilators segment accounted of the ventilators market. Adult and pediatric ventilators were the leading segment of the ventilators market because of the high incidence of respiratory disorders among these age groups. Diseases like Chronic Obstructive Pulmonary Disease (COPD), Acute Respiratory Distress Syndrome (ARDS), asthma, and pneumonia occur more frequently in adults, especially the elderly, and hence have created a large demand for ventilators in homecare and hospitals. Also, premature deliveries and neonatal respiratory distress syndrome (NRDS) fuel the demand for pediatric ventilators, particularly in neonatal intensive care units (NICUs). The aging global population also enhances the demand for adult ventilators, since elderly people are more susceptible to serious respiratory illnesses.
Based on end user, the hospitals and clinics segment accounted of the ventilators market
The clinics and hospitals segment held the maximum market share for ventilators owing to the strong patient flow in need of critical care and respiratory therapy. Hospitals and clinics are the main medical centers for the treatment of severe respiratory diseases like COPD, ARDS, pneumonia, and post-surgical complications, calling for the use of invasive as well as non-invasive ventilators in ICUs, emergency wards, and surgical wards.
Moreover, hospitals treat complicated and risky cases that need constant monitoring and life-sustaining devices, and therefore advanced ICU ventilators are needed to manage these patients. Investments by governments in healthcare facilities, expanding ICU bed availability, and higher admissions as a result of aging populations also fuel demand for ventilators in hospitals.
The Asia Pacific market is expected to grow at a higher CAGR during the forecast period
The Asia Pacific ventilators market is expected to grow at a higher CAGR on account of some key factors. The increasing incidence of respiratory conditions like COPD, asthma, and pneumonia, coupled with growing air pollution levels, is fueling the demand for ventilators, particularly in China, India, and Japan. Moreover, increased healthcare infrastructure growth, government investments in ICU beds, and aging populations in nations such as Japan and China are also driving the market further. Additionally, the increased usage of homecare ventilators because of escalating hospital expenses and the presence of affordable, locally produced ventilators in India and China are driving this rapid growth. All these factors altogether put Asia Pacific in the position of the fastest-growing ventilator market compared to other regions in the next few years.
Key players in the ventilators market
Key players in this market are adopting several organic and inorganic growth strategies (such as product launches, agreements, collaborations, acquisitions, and expansions). Prominent players in this market include ResMed (US), Getinge AB (Sweden), Koninklijke Philips N.V. (Netherlands), Drägerwerk AG & CO. KGAA (Germany), ICU Medical, Inc. (US), Asahi Kasei Corporation (Japan), Air Liquide (France), Flexicare (Group) Limited (UK), Nihon Kohden Corporation (Japan), Shenzhen Mindray Bio-Medical Electronics Co., Ltd, (China), GE Healthcare (US), Baxter (US), Vyaire Medical, Inc. (US), Hamilton Medical (Switzerland), Skanray Technologies (India), aXcent Medical GmbH (Germany), Metran Co., Ltd (Japan), MAGNAMED (Brazil), Leistung Ingeniería SRL(Argentina), Avasarala Technologies Limited (India), Airon Corporation (Florida), TRITON Electronic Systems Ltd. (Russia), Bio-Med Devices, Inc. (US), HEYER Medical AG (Germany) and AgVa Healthcare (India).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : 1-888-600-6441
sales@marketsandmarkets.com
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Ventilators Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
