New York, October 15, 2021 – Reports and Data has published its latest report titled “Ventilator Market, By Type (Adult/Pediatric Ventilators, Neonatal/Infant Ventilators), By Mobility (Intensive Care Ventilators, Portable/Transportable Ventilators), By End-use (Hospitals & Clinics, Home Care Settings, Ambulatory Care Centers, Emergency Medical Services), And Region – Global Forecast To 2028”
Rising geriatric population and growing prevalence of respiratory disorders such as asthma and chronic obstructive pulmonary disease (COPD) are major factors driving the global market revenue growth
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According to Reports and Data, the global ventilator market size was USD 5.74 billion in 2020 and is expected to reach USD 33.24 billion 2028 and register a revenue CAGR of 24.7% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Revenue growth of the global ventilator market is majorly attributed to surging demand for ventilators globally amid the COVID-19 pandemic and consistently rising number of coronavirus cases. Rising prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD) and asthma, growing awareness of advanced treatments for these respiratory diseases, rapidly advancing healthcare infrastructure in developing countries in the world including India and China, and increasing global supply of ventilators are among the other major factors accounting for growth of the global ventilator market. Rising focus of manufacturers on technological innovations in ventilators and other respiratory devices and equipment, such as portable ventilators, positive airway pressure (PAP) systems, and improved battery life is expected to boost market growth in the near future. Moroever, other factors such as rapid surge in the global geriatric population, rising cases of preterm births, and increasing number of intensive care unit (ICU) admissions in hospitals further drive market growth.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Adult/Pediatric Type Segment Dominated Other Segments in 2020:
Based on type, the global ventilator market is segmented into adult/pediatric ventilators and neonatal/infant ventilators. The adult/pediatric ventilators segment accounted for the largest revenue share in the global ventilator market in 2020. Increasing incidence of the novel coronavirus disease worldwide, rising prevalence of chronic respiratory diseases such as asthma and COPD, increasing adoption of unhealthy lifestyles such as smoking and alcohol consumption, especially among millennials, and growing geriatric population are key drivers for this segment’s growth.
Intensive Care Ventilators Mobility Segment to Account for Largest Revenue Share:
Based on mobility, the global ventilator market is segmented into intensive care ventilators and portable/transportable ventilators. The intensive care ventilators segment is expected to register the fastest revenue CAGR over the forecast period. Rising number of COVID-19 cases worldwide, increasing rate of COVID-19 hospital admissions, growing need for ventilator-equipped ICU beds, and increasing demand for high-end, advanced ICU ventilators are among the major factors driving growth of this segment.
Asia Pacific to Lead in Terms of Revenue CAGR:
The ventilator market in Asia Pacific is projected to register the fastest revenue growth rate in the global market over the forecast period. Rapid spread of the novel coronavirus disease across the region, unprecedented rise in demand for ICU ventilators, and surging need for quality healthcare and advancements in the region’s healthcare infrastructure, particularly in emerging countries including India, are some of the primary factors contributing to the Asia Pacific ventilator market revenue growth.
Major Companies in the Market Include:
- GE Healthcare
- Airon Corporation
- Philips Healthcare
- ResMed Inc.
- Medtronic plc
- Fisher & Paykel Healthcare Corporation Limited
- Drägerwerk AG & CO. KGAA
- Getinge AB
- Nihon Kohden Corporation
- Asahi Kasei Corporation
- Air Liquide
- Vyaire Medical, Inc.
- Hamilton Medical
- Smiths Group plc
- Allied Healthcare Products, Inc.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- aXcent Medical GmbH
- Metran Co., Ltd.
- Avasarala Technologies Ltd.
- TRITON Electronic Systems Ltd.
- Bio-Med Devices, Inc.
- Hill-Rom Holdings, Inc.
- HEYER Medical AG
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For the purpose of this report, Reports and Data has segmented the global ventilator market on the basis of type, mobility, end-use, and region:
Type Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Adult/Pediatric Ventilators
- Neonatal/Infant Ventilators
Mobility Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Intensive Care Ventilators
- High-end ICU Ventilators
- Mid-end ICU Ventilators
- Basic ICU Ventilators
- Portable/Transportable Ventilators
End-use Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Hospitals & Clinics
- Home Care Settings
- Ambulatory Care Centers
- Emergency Medical Services
Regional Outlook (Revenue, USD Billion; Volume, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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