The rise in prevalence of chronic respiratory diseases like lung cancer, chronic obstructive pulmonary disease (COPD), asthma, bronchitis, and other lung disorders, as well as the rise in hospitals and diagnostic facilities, are the primary factors driving the growth of the global mechanical ventilator market.
The need for medical ventilators has significantly increased due to an increase in the number of severe cases of the life-threatening coronavirus (COVID-19). In April of 2020, approximately 30000 more ventilators were required within New York City alone. Numerous large companies were competing to produce and distribute as many ventilators as they could all over the world. During the projected period, manufacturers’ and governments’ intense focus on creating more medical ventilators is anticipated to drive market growth (2022-2030). A huge potential to differentiate their products from the competition and grow their businesses is presented by the rising need for portable and affordable medical ventilators.
The Global Ventilators Market Size was worth USD 1.4 Billion in 2021 and is projected to grow to USD 2.43 Billion by 2030, at a CAGR of 7.6% over the forecast period of 2022 to 2030.
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Ventilator Market: Segmentation Analysis:
Ventilator Market based on Mobility
- Intensive care ventilators
- High end
- Mid end
- Basic end
- Portable ventilators
Ventilator Market based on Interface
- Invasive Ventilation
- Non-Invasive Ventilation
Ventilator Market based Age Group
- Adult ventilators
- Paediatrics and Neonatal
- Geriatrics Ventilators
Ventilator Market based on Mode
- Combined-mode ventilation
- Volume- mode ventilation
- Pressure-mode ventilation
- Other ventilation modes
Koninklijke Philips N.V. (Netherlands), ResMed (US), Medtronic (Ireland), Fisher & Paykel Healthcare Limited (New Zealand), Vyaire Medical, Inc. (US), GE Healthcare (US), Avasarala Technologies Ltd (India), Airon Corporation (Florida),TRITON Electronic Systems Ltd. (Russia), Bio-Med Devices, Inc. (US), Metran Co., Ltd (Japan), MAGNAMED (Brazil), HEYER Medical AG (Germany), Leistung Engineering Pvt. Ltd. (Argentina).Hill-Rom Holdings, Inc. (US), Hamilton Medical (Switzerland), Smiths Group plc (UK), Drägerwerk AG & CO. KGAA (Germany), Nihon Kohden Corporation (Japan), Getinge AB (Sweden), Asahi Kasei Corporation (Japan), Air Liquide (France), Allied Healthcare Products, Inc. (US), Shenzhen Mindray Bio-Medical Electronics Co., Ltd, (China), aXcent Medical GmbH (Germany).
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