Rising global COVID-19 casualties and individuals afflicted with COVID have catalyzed the global ventilator market. The spillover impact of a global pandemic is expected to be witnessed until 2023. The countries worst affected by COVID-19 such as Italy, Spain, the US, etc., have been exhibiting an exponential rise in the demand for ventilators. Moreover, less impacted geographies are actively investing in healthcare infrastructure capacity building as a precautionary measure. Therefore, the ventilator market is set to surge at a double-digit growth during the forecast period.
Increasing the prevalence of respiratory disorders and growing geriatric population is inducing the growth of ventilators globally. Moreover, use the surging use of tobacco-based products coupled with prominent healthcare infrastructure globally are fueling the demand for ventilators across the globe. According to MarkNtel Advisors’ research report titled “Global Ventilator Market Analysis, 2020”, the market size of the global ventilator market is anticipated to grow at a CAGR of around 13% during 2020-25. Emerging problems related to the usage of ventilators and the high cost of ventilators are restricting the growth of ventilators.
Adult/Pediatric Ventilation Leading to a Growing Use of Ventilators
Based on the type, adult ventilators hold the highest market share whereas the demand for neonatal ventilators is also proliferating with the growth in premature births. The major factors for the growth of adult ventilators are the rising number of aging patients and the significant usage of ventilators in intensive care units (ICUs).
Immense Potential of Asia-Pacific Region for Growth of Ventilators
North America region currently has the largest number of chronic disorder cases along with a rising aging population. The region also has the largest number of patients suffering from ailments such as diabetes, dementia, cancer, blood pressure problems, etc. Around 6 out of 10 individuals suffer from chronic diseases in the United States. North America had around 48,000 diabetic people in the range between 20 to 70 years of age, according to the International Diabetes Federation. Also, the current pandemic COVID-19, has a positive effect on the sales of ventilators in countries such as the US and China where production and sales have risen sharply. Owing to the rising number of COVID cases in India, the sales are expected to get double in 2020. Moreover, companies such as Ford and GE have planned to produce 50,000 ventilators in 10 days in Michigan in 2020. Increasing use of tobacco in the Asia-Pacific regions such as India is leading to a galvanizing use of ventilators in the region.
Escalating Global Premature Births
Neonatal care is steadily increasing owing to the rising premature births globally. The incidences of premature births are leading to an emerging need for ventilators. Globally, there are around 1,014,000 premature births in the developed countries each year as compared to preterm births in the least developed countries that account to be around 4,171,000 each year. Therefore, the demand for ventilators is anticipated to escalate in the infant/neonatal ventilation segment during 2020-25 as stated in the MarkNtel Advisors’ research report “Global Ventilator Market Analysis, 2020”.
According to MarkNtel Advisors, Philips, ResMed, Medtronic, Becton Dickinson, GE Healthcare, Getinge, Air Liquide, Hamilton Medical, Smith’s Group, Drager, Fisher, and Paykel are few of the leading players in "Global Ventilator Market Analysis, 2020”.
“Global Ventilator Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for ventilator providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Type (Adult/Pediatric Ventilation, Infant/Neonatal Ventilation)
2. By Interface (Invasive Ventilation, Non-Invasive Ventilation)
3. By Mode (Combined-Mode Ventilation, Volume-Mode Ventilation, Pressure Mode Ventilation),
4. By Mobility (Portable, Intensive Care)
5. By End-User (Hospitals and Clinics, Homecare, Ambulatory Care Centers, Emergency Medical Services),
6. By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, China, India, Japan, South Korea, Australia, UAE, Saudi Arabia)
7. By Company (Philips, ResMed, Medtronic, Becton Dickinson, GE Healthcare, Getinge, Air Liquide, Hamilton Medical, Smith’s Group, Drager, Fisher, and Paykel)
Key questions answered in the study:
1. What are the current and future trends of the ventilator industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the ventilator industry?
5. What are the customer orientation, purchase behavior, and expectations from the ventilator firms across various regions?