Northbrook, IL 60062 -- (SBWIRE) -- 11/28/2023 -- The ventilators industry is poised for significant advancements in the near future, driven by rapid technological innovation and the increasing demand for critical care equipment. With a growing emphasis on portable and compact ventilators, manufacturers are expected to develop more efficient and user-friendly devices, making them accessible for a broader range of healthcare settings. Additionally, the integration of artificial intelligence and telemedicine capabilities into ventilator systems promises to enhance patient monitoring and remote control. This industry's future is marked by a commitment to improving patient outcomes and streamlining healthcare delivery, ultimately ensuring a higher level of care for those in need of respiratory support.

Ventilators Market in terms of revenue was estimated to be worth $4.2 Billion in 2023 and is poised to reach $5.7 Billion by 2028, growing at a CAGR of 6.4% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of the global ventilators market is driven by the rising burden of respiratory diseases, such as COPD and asthma. COPD and asthma result in the narrowing of respiratory paths, making breathing difficults. Therefore, many patirnts with COPD and asthma require external ventilation and airway management which will dive growth for ventilators market. However, skilled workforce shortages have been exacerbated during the pandemic and can hamper the growth of the ventilators market in the coming years.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=11018337

Browse in-depth TOC on "Ventilators Market"

259 - Tables
57 - Figures
290 - Pages

Based on mobility, intensive care ventilators segment holds the largest share ventilators market

In 2022, the intensive care ventilators segment holds the largest share of the ventilators market. The growth of the intensive care ventilators segment is due to the susceptibility of geriatric individuals to develop severe health problems, the volume of patients being treated in critical care units is increasing, which in turn is driving the demand for intensive care beds.

Based on type, the adult/pediatric ventilators segment accounted of the ventilators market

In 2022, the adult/pediatric ventilators segment accounted of the ventilators market. The large share of the adult/pediatric ventilators segment can be attributed to the chronic diseases such as COPD & asthma, growing tobacco consumption, and the increasing geriatric population.These patients usually exhibit acute respiratory failure signs and are not candidates for less invasive respiratoy support methods. For adults, there are invasive and non-invasive techniques of mechanical ventilation.

Based on end user, the hospitals and clinics segment accounted of the ventilators market

In 2021, the hospitals and clinics segment accounted of the ventilators market. The hospitals and clinics segment will continue to dominate the market during the forecast period. The large share of this segment can be attributed to the increasing number of patients with complex medical conditions, such as multiple organ failure and severe sepsis, and growing awareness of the benefits of mechanical ventilation, such as improved patient outcomes and reduced mortality.

The Asia Pacific market is expected to grow at a higher rate during the forecast period

the APAC market is expected to grow at the highest rate during the forecast period, the growing prevalence of lifestyle related diseases such as obesity, a decreasing mortality rate, and the rising demand for home healthcare, is also driving the demand for ventilators. Moreover, improvements in the standard of living, coupled with incaresed access to healthcare, will aid market growth.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=11018337

Ventilators Market Dynamics:

Drivers:

1. Rising burden of respiratory diseases
a. Increasing incidence of COPD and asthma
b. High prevalence of tobacco smoking

2. Urbanization and rising pollution levels

3. Rising obesity cases due to sedentary lifestyles

4. Rapid growth in geriatric population worldwide

5. Growing preference for home care settings

6. Rising number of preterm births

7. Outbreak of infectious respiratory diseases

Restraints:

1. Shortage of skilled medical workers

2. Excessive purchase of ventilators during COVID-19

3. Reimbursement concerns

Opportunities:

1. Cost efficiency of home care services

2. Growth opportunities in emerging economies

Challenge:

1. Low awareness and unavailability of adequate resources in emerging economies

2. Harmful effects of certain respiratory devices on neonates

Key Market Players of Ventilators Industry:

The prominent players in the ventilators market are Koninklijke Philips N.V. (Netherlands), ResMed (US), Medtronic (Ireland), Vyaire Medical, Inc. (US), Getinge AB (Sweden), Drägerwerk AG & CO. KGAA (Germany), ICU Medical, Inc. (US), Hamilton Medical (Switzerland), GE Healthcare (US), Air Liquide (France), Asahi Kasei Corporation (Japan), Allied Healthcare Products, Inc. (US), Nihon Kohden Corporation (Japan), Shenzhen Mindray Bio-Medical Electronics Co., Ltd, (China), Skanray Technologies (India), Baxter International Inc, (US), 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), and HEYER Medical AG (Germany).

Recent Developments:

- In January 2022, ICU Medical acquired Smiths Group plc, aims to support the expansion of ICU Medical's product line, including infusion therapy and ventilators, thus expanding ICU Medical's presence in critical care markets.
- In October 2021, GE Healthcare partnered with Apprise Health Insights. The companies together launched Oregon's Statewide Capacity System to track 7,368 beds and approximately 800 ventilators across 60 hospitals.
- In June 2021, Vyaire Medical, Inc. partnered with GenWorks Healthcare Limited. The partnership in India expands the company's footprint and provides greater accessibility to high-quality pulmonary screening, testing, and treatment.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=11018337

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com