The global “Ventilators Market”, size is estimated to gain momentum on account of the increasing number of ICU admissions that require mechanical ventilation. This is further attributed to the growing prevalence of chronic diseases that requires critical care equipment such as incubators, ventilator, and other devices. A recent report by Fortune Business Insights, titled, “Ventilator Market Size, Share & Covid-19 Impact Analysis, By Type (Adult, and Pediatric & Neonatal), By Interface (Invasive, and Non-invasive), By End User (Hospitals, Specialty Clinics, and Others), and Regional Forecast, 2020-2027”, offers a comprehensive overview of the market. According to this report, the value of the market was USD 2.54 billion in 2019 and is expected to reach USD 9.13 billion by the end of 2027 with a CAGR of 5.0% between 2020 and 2027.
The global economy is facing huge losses on account of the current outbreak of the COVID-19 pandemic. Most of the businesses are at a halt and the ones that are running through minimum contact medium, are scantily drawing bare minimum revenues. However, we hope to overcome this situation soon with the government support. We, at Fortune Business Insights, are offering analytical reports on the impact of COVID-19 on various markets so that the investors can scrutinize them and accordingly make long-term investment decisions.
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We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
The Report Answers the following questions:
- How fierce is the nature of the market?
- How can workforce management result in cost-saving benefits to companies?
- Who are the major players of this market and how do they plan to gain dominance?
- Which trends are currently followed that will bode well for the market?
Drivers & Restraints-
Advent of New Mechanical Ventilators will Add Impetus to Market
A ventilation machine provides artificial or mechanical respiration to a patient suffering from any chronic disease. The current COVID-19 pandemic has also increased the number of patients requiring intensive and critical medical aid. The World Health Organization (WHO) reports an estimate of about 4.7 million people suffering from COVID-19 all over the world as per May 18, 2020. Therefore, a rise in the number of critical care unit cases is a significant factor in propelling the ventilator market growth. In addition to this, the rising disposable incomes of people and their willingness to spend more on advanced healthcare services have encouraged the improvement and up-gradation of healthcare infrastructure and medical facilities. This is also adding impetus to the market.
On the negative side, the complications associated with using ventilator such as nosocomial pneumonia, bronchopleural fistula, pneumothorax, and others may result in gastric problems, cardiac output, alkalosis, and renal impairment, thereby, hampering the overall market.
Nevertheless, the continuous investments by players on new mechanical ventilators, especially for patients undergoing cardiovascular interventions are likely to create lucrative growth opportunities for the market in the future.
Invasive Segment to Emerge Dominant Attributed to their applications in ICU with chronic diseases
Based on segmentation by interface, the market is segmented into invasive and non-invasive segments. Among these, the invasive segment held a dominant share in 2019. This is accountable to the rising application of invasive ventilator in ICU’s for the patients admitted with chronic respiratory diseases, neurological disorders and others.
Dominant Players Focusing on Developing Novel Technologies for Advanced Ventilators
Currently, Hamilton Medical AG, Medtronic, Koninklijke Philips N.V., and Getinge AB are holding 40% or more shares in this market. This is owing to their strong focus on research and development of novel technology in the advanced ventilators. Other players are engaging in mergers and acquisitions, joint ventures, collaborations, and others to maintain their positions in the market.
Key Industry Developments of the Market Include:
March 2020 – NKV-550 Series was launched by Nihon Kohden for patients irrespective of their age, admitted in the critical care units.
April 2020 – RespirAD portable ventilator was launched by Biodesign Innovation Labs for taking care of coronavirus patients.
Fortune Business Insights™ lists out the names of all the manufacturers operating in the market. They are as follows:
- GE Healthcare
- Hamilton Medical AG
- Vyaire Medical, Inc.
- Koninklijke Philips N.V.
- Drägerwerk AG & Co. KGaA
- Getinge AB
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Other vendors
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Table of Content:
1 Ventilator Market Overview
1.1 Ventilator Product Overview
1.2 Ventilator Market Segment by Type
1.3 Global Ventilator Market Size by Type (2015-2027)
1.3.1 Global Ventilator Market Size Overview by Type (2015-2027)
1.3.2 Global Ventilator Historic Market Size Review by Type (2015-2021)
18.104.22.168 Global Ventilator Sales Market Share Breakdown by Type (2015-2027)
22.214.171.124 Global Ventilator Market Share Breakdown by Type (2015-2027)
126.96.36.199 Global Ventilator Average Selling Price (ASP) by Type (2015-2027)
1.3.3 Global Ventilator Market Size Forecast by Type (2021-2027)
188.8.131.52 Global Ventilator Sales Market Share Breakdown by Application (2021-2027)
184.108.40.206 Global Ventilator Revenue Market Share Breakdown by Application (2021-2027)
220.127.116.11 Global Ventilator Average Selling Price (ASP) by Application (2021-2027)
1.4 Key Regions Market Size Segment by Type (2015-2021)
1.4.1 North America Ventilator Sales Breakdown by Type (2015-2027)
1.4.2 Europe Ventilator Sales Breakdown by Type (2015-2027)
1.4.3 Asia-Pacific Ventilator Sales Breakdown by Type (2015-2027)
1.4.4 Latin America Ventilator Sales Breakdown by Type (2015-2027)
1.4.5 Middle East and Africa Ventilator Sales Breakdown by Type (2015-2027)
2 Global Ventilator Market Competition by Company
2.1 Global Top Players by Ventilator Sales (2015-2021)
2.2 Global Top Players by Ventilator Revenue (2015-2021)
2.3 Global Top Players Ventilator Average Selling Price (ASP) (2015-2021)
2.4 Global Top Company Ventilator Manufacturing Base Distribution, Sales Area, Product Type
2.5 Ventilator Market Competitive Situation and Trends
2.5.1 Ventilator Market Growth Rate (2015-2021)
2.5.2 Global 5 and 10 Largest Company by Ventilator Sales and Revenue in 2019
2.6 Global Top Company by Company Type (Tier 1, Tier 2 and Tier 3) (based on the Revenue in Ventilator as of 2019)
2.7 Date of Key Company Enter into Ventilator Market
2.8 Key Company Ventilator Product Offered
2.9 Mergers and Acquisitions, Expansion
3 Global Ventilator Status and Outlook by Region (2015-2027)
3.1 Global Ventilator Market Size and CAGR by Region: 2015 VS 2021 VS 2027
3.2 Global Ventilator Market Size Market Share by Region (2015-2021)
3.2.1 Global Ventilator Sales Market Share by Region (2015-2021)
3.2.2 Global Ventilator Revenue Market Share by Region (2015-2021)
3.2.3 Global Ventilator Sales, Revenue, Price and Gross Margin (2015-2021)
3.3 Global Ventilator Market Size Market Share by Region (2021-2027)
3.3.1 Global Ventilator Sales Market Share by Region (2021-2027)
3.3.2 Global Ventilator Revenue Market Share by Region (2021-2027)
3.3.3 Global Ventilator Sales, Revenue, Price and Gross Margin (2021-2027)
3.4 North America Ventilator Market Size By Growth (2015-2027)
3.4.1 North America Ventilator Revenue By Growth (2015-2027)
3.4.2 North America Ventilator Sales By Growth (2015-2027)
3.5 Asia-Pacific Ventilator Market Size By Growth (2015-2027)
3.5.1 Asia-Pacific Ventilator Revenue By Growth (2015-2027)
3.5.2 Asia-Pacific Ventilator Sales By Growth (2015-2027)
3.6 Europe Ventilator Market Size By Growth (2015-2027)
3.6.1 Europe Ventilator Revenue By Growth (2015-2027)
3.6.2 Europe Ventilator Sales By Growth (2015-2027)
3.7 Latin America Ventilator Market Size By Growth (2015-2027)
3.7.1 Latin America Ventilator Revenue By Growth (2015-2027)
3.7.2 Latin America Ventilator Sales By Growth (2015-2027)
3.8 Middle East and Africa Ventilator Market Size By Growth (2015-2027)
3.8.1 Middle East and Africa Ventilator Revenue By Growth (2015-2027)
3.8.2 Middle East and Africa Ventilator Sales By Growth (2015-2027)
4 Global Ventilator by Application
4.1 Ventilator Segment by Application
4.2 Global Ventilator Sales by Application: 2015 VS 2021 VS 2027
4.3 Global Ventilator Historic Sales by Application (2015-2021)
4.4 Global Ventilator Forecasted Sales by Application (2021-2027)
4.5 Key Regions Ventilator Market Size by Application
4.5.1 North America Ventilator by Application
4.5.2 Europe Ventilator by Application
4.5.3 Asia-Pacific Ventilator by Application
4.5.4 Latin America Ventilator by Application
4.5.5 Middle East and Africa Ventilator by Application
5 North America Ventilator Market Size by Country (2015-2027)
5.1 North America Market Size Market Share by Country (2015-2021)
5.1.1 North America Ventilator Sales Market Share by Country (2015-2021)
5.1.2 North America Ventilator Revenue Market Share by Country (2015-2021)
5.2 North America Market Size Market Share by Country (2021-2027)
5.2.1 North America Ventilator Sales Market Share by Country (2021-2027)
5.2.2 North America Ventilator Revenue Market Share by Country (2021-2027)
5.3 North America Market Size By Growth by Country
5.3.1 U.S. Ventilator Market Size By Growth (2015-2027)
5.3.2 Canada Ventilator Market Size By Growth (2015-2027)
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