Ventilator Market to reach USD 9.13 billion by 2027; Rising Number of ICU Patients to Augment Growth: Fortune Business Insights™

Pune, July 09, 2020 (GLOBE NEWSWIRE) — The global ventilator 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 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?Advent of New Mechanical Ventilators will Add Impetus to MarketA 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.An Overview of the Impact of COVID-19 on this Market:The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.Please visit: https://www.fortunebusinessinsights.com/ventilator-market-103257
Adult Segment to Emerge Dominant Attributed to High Prevalence of Chronic Diseases among Adult PopulationBased on segmentation by type, the market is bifurcated into adult and paediatric & neonatal segments. Among these, the adult segment earned the highest ventilator market share in 2019. This is accountable to the high prevalence of chronic diseases among adults as compared to their younger counterpart.Invasive Segment to Emerge Dominant Attributed to their applications in ICU with chronic diseasesBased 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.Regional Analysis-North America Emerged Dominant Accountable to Highest Number of Critical Care PatientsRegionally, North America generated USD 0.88 billion in terms of revenue in 2019 and emerged dominant. Factors responsible for this dominance include the rising number of patients admitted to intensive care and critical care units every year. Additionally, the reimbursement policies offered by the governments of Canada and the U.S. are also aiding in the expansion of this regional market.On the other side, the second-largest market share is earned by Europe on account of the increasing adoption of mechanical ventilation support systems. Furthermore, Asia Pacific is likely to exhibit significant growth in the coming years on account of a rise in the development of healthcare infrastructure, increasing disposable incomes of people, and their willingness to spend on better medical facilities.Competitive Landscape-Dominant Players Focusing on Developing Novel Technologies for Advanced VentilatorsCurrently, 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.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.GE HealthcareHamilton Medical AGVyaire Medical, Inc.MedtronicKoninklijke Philips N.V.Drägerwerk AG & Co. KGaAGetinge ABShenzhen Mindray Bio-Medical Electronics Co., Ltd.Other vendorsIntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsPrevalence of Chronic Dieses, By Key Region/ Key Countries, 2019Number of ICU Beds, by Key Region/ Key CountryTechnological Advancements, VentilatorNew Product Launches, By Key Market PlayersKey Industry Developments such as Mergers & AcquisitionsImpact of COVID-19, on Global Ventilator MarketGlobal Ventilator Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By TypeAdultPaediatric & NeonatalMarket Analysis, Insights and Forecast – By InterfaceInvasiveNon-invasiveMarket Analysis, Insights and Forecast – By End UserHospitalsSpecialty ClinicsOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia pacificLatin AmericaMiddle East & AfricaTOC Continued….!!!

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