A ventilator is a medical device used to assist the patient during an emergency. It is a type of an endotracheal tube that is directed towards the airway of the patient and it is connected to the ventilator system. The ventilator system is mainly used during surgery when the patient is under anesthesia, which puts a patient to sleep without interrupting normal breathing. Moreover, this system can be used as a diagnostic tool to measure static compliance of airway resistance and irregular functioning of the respiratory system. Furthermore, the failure of ventilators may lead to death so it is named as a life-critical system.
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A growing number of private and public hospitals partnership to the growth of the ventilators market
According to the World Health Organization (WHO) fact sheet 2015, around 3 million people died due to chronic obstructive pulmonary disease (COPD), accounting for 5% of all deaths. The growing incidences of chronic diseases such as chronic obstructive pulmonary diseases (COPD), bronchitis, asthma, and an increase in a number of accidental cases are some of the major conditions where ventilators are used. Moreover, the rising incidence rate of preterm birth, respiratory diseases, growth in the geriatric population, the changing lifestyle of people and habits such as smoking and drinking leading to an enhanced risk of respiratory infections, are further expected to drive the market growth. According to the World Health Organization (WHO), 2017, an estimated 15 million infants are born preterm annually accounting for approximately 1 million deaths in 2015. The survey also states that three-quarters of these deaths could be prevented with the current cost-effective interventions. On the flip side, the complications associated with the use of medical ventilators such as resistance from patients and physicians for technology transition, side-effects such as barotrauma, lung injury, pneumonia and high cost of medical ventilators are some of the major factor limiting the market growth.
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The global ventilators market is segmented as per product type, age group, interface, mode, end-user, and region.
Based on product type, the global ventilators market is segmented into:
- Portable Ventilators
- Stationary Ventilators
Based on technology, the global ventilators market is segmented into:
- Mechanical Ventilators
- Automatic Ventilator
Based on the age group, the global ventilators market is segmented into:
- Adult/pediatric ventilators
- Neonatal/infant ventilators
Based on the interface, the global ventilators market is segmented into:
- Invasive Ventilators
- Non-Invasive Ventilators
Based on mode, the global ventilators market is segmented into:
- Combined Mode Ventilation
- Volume Mode Ventilation
- Pressure Mode Ventilation
Based on the end-user, the global ventilators market is segmented into:
- Ambulatory Care Centers
- Home Care Setting
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North America dominates the ventilators market owing to increasing incidence of coronary diseases
Regional segmentation of the global ventilators market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America dominates the ventilators market, followed by Europe. According to the American Heart Association, 2017, about 92.1 million American adults are suffering a form of cardiovascular disease or the after-effects of stroke. According to the study conducted by Department of Anesthesiology, Columbia University, 2014, ICU occupancy ranged from 57.4% to 82.1% and the number of beds filled with mechanically ventilated patients ranged from 20.7% to 38.9% in the U.S., which is driving the growth of ventilators market in North America. Growth in the aging population, rising investments to meet the rising demand, and expansion of private hospitals in rural areas are some of the other important factors propelling the market growth in the Asia Pacific region. According to the survey by the Public Library of Science, 2016, the functional mechanical ventilators were available for only half of the ICU beds (5.1 mechanical ventilators/100,000 inhabitants) in China, indicating a relevant shortage of medical resources in healthcare settings in China.
Major players are launching a technologically advanced product to hold the major share in ventilators market
Key players operating the global ventilators market include Becton, Philips Healthcare, ResMed Inc., Medtronic Plc, Dragers Group, Smiths Group Plc, Hamilton Medical, GE Healthcare, and Teleflex Incorporated. Market players are focused on launching a new product to maintain the lead in the ventilator market. For instance, the medical ventilator by Smiths Medical, PNEPAC Para PAC was the recent advancement approved by the U.S. FDA in 2014, which offers greater control of breathing parameters with MRI compatibility giving maximum flexibility for transport within the medical setting. The strategies such as merger and acquisition with local and international players and focus on technological advancements are adopted by manufacturers to sustain their position in the ventilators market.
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