Medical Ventilator Market Size to Register 7.9% CAGR By 2023 | Sales Projection, Trends, Growth Insights, COVID-19 Impact and Cost Structure Analysis

Medical Ventilator Market Trends, Size and Growth Analysis By Type (Non-invasive Ventilators, Invasive Ventilators, Mechanical Ventilators), Application (Critical Care, Neonatal Care, Emergency Care) - Forecast Till 2023

Medical Ventilator Market Analysis

The Global Medical Ventilator Market size is likely to grow at a 7.9% CAGR by 2023, as per the recent report by Market Research Future (MRFR). A medical ventilator, simply put, is a device to help respiration in patients that are critically ill and those needing emergency care. It is also used to give patients anaesthesia before the surgery. Ventilators are also equipped with alarm systems and monitoring for constant patient monitoring. It comes in two forms- non-invasive and invasive. Medical ventilators are widely used to treat COVID-19 owing to which its demand has increased manifold. This has forced several manufacturers to increase their production by 50%.

Various factors are adding to the medical ventilator market growth. According to the new MRFR report, such factors include burgeoning demand for ventilators in emergency care, COVID-19 impact on medical ventilator market, the prevalence of various lifestyle disorders like respiratory diseases and heart attack, high incidence of chronic illness in children, and a growing number of critically ill patients.

On the contrary, the risk of getting pneumonia being under ventilation for long may limit the medical ventilator market growth over the forecast period.

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Medical Ventilator Market Segmentation

The MRFR report offers an inclusive segmental analysis of the global medical ventilator market report based on types and applications.

Based on types, the global medical ventilator market is segmented into ventilators. Ventilators are again segmented into mechanical ventilators, non-invasive ventilators, and invasive ventilators. Non-invasive ventilators are further segmented into time-cycled ventilators, volume-cycled, flow-cycled, and pressure-cycled. Mechanical ventilators are again segmented into negative pressure and positive pressure ventilators.

Based on applications, the global medical ventilator market is segmented into emergency care, neonatal care, critical care, and others.

Medical Ventilator Market Regional Analysis

Based on the region, the global medical ventilator market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will spearhead the market over the forecast period. Presence of top medical device companies in the US, rising number of critically ill patients, increasing surgical procedures, and increasing lifestyle diseases resulting in asthma, bronchitis, chronic obstructive pulmonary diseases, and other disorders are adding market growth. Besides, addiction to smoking resulting in obstruction in breathing and other lung diseases are also adding market growth in the region.

The global medical ventilator market in Europe is predicted to hold the second-largest share over the forecast period. Availability of funds from the government, strengthening healthcare infrastructure, demand for mechanical ventilators, and increasing cases of chronic respiratory diseases are adding to the growth of the medical ventilator market in the region.

The global medical ventilator market in the Asia Pacific region is predicted to grow at a fast pace over the forecast period. Increasing geriatric population, rising cases of heart diseases, as well as its risk factors like diabetes, demand for non-invasive ventilators, an increasing number of surgical procedure, demand for point-of-care administration, presence of a huge patient pool, rising environmental pollution resulting in lung disorders, and prevalence of respiratory illness and chronic heart diseases, are adding to the growth of the medical ventilator market in the region.

The global medical ventilator market in the MEA is predicted to have steady growth over the forecast period. Increasing surgical procedures carried out in hospitals and the prevalence of heart disease, obesity, and other chronic illnesses are adding to the growth of the market in the region.

Medical Ventilator Market Key Players

Leading players profiled in the medical ventilator market report include Teleflex Incorporated (U.S.), Hamilton Medical (Switzerland), Allied Healthcare Products Inc. (U.S), Dickinson and Company (U.S.), Becton, General Electric Company (U.S.), ResMed (U.S.), Medtronic (Ireland), and Koninklijke Philips N.V. (the Netherlands). Industry players have encompassed strategies such as geographic expansions, mergers, acquisitions, and joint ventures to stay ahead in the competition.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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