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Mechanical Ventilators Market Analysis
- Report ID: GMI1882
- Published Date: Feb 2023
- Report Format: PDF
Mechanical Ventilators Market Analysis
Mechanical ventilators market share from the intensive care ventilators segment is predicted to reach over USD 2.7 billion by 2032. Intensive care ventilators are used for treating and monitoring patients in the ICU. These ventilators are designed to support patients suffering from breathing problems. Several clinical advantages offered by these ventilators in cases of acute respiratory failure, impaired lung functions, and breathing-related issues would dramatically increase product demand. The development of novel technology or advanced ventilation support will stimulate market outlook.
Based on ventilator type, the mechanical ventilators market is bifurcated into adult ventilators, neonatal ventilators. Adult ventilators segment is expected to cross USD 3.1 billion by 2032. The enormous patient pool with asthma and chronic obstructive pulmonary disease (COPD) along with the changing lifestyle is increasing the deployment of adult ventilators. For instance, the data from the House of Commons Library (UK Parliament) shows that in 2021 nearly 1.2 million people in the UK were diagnosed with COPD, making up roughly 1.9% of the nation’s population.
Ventilators used to diagnose and treat these conditions in adults include built-in compressors, automated humidification, data monitoring, and invasive/non-invasive ventilation systems. The clinical benefits provided by adult ventilators during complicated surgical procedures and the treatment of chronic illnesses will propel market development.
Mechanical ventilators market from the hospital segment is anticipated to record more than 1.5% CAGR from 2023 to 2032 as they have modern and improved infrastructure and equipment. There is high availability of a variety of ventilators for adult and pediatric patients that incorporate cutting-edge technology for people undergoing surgical procedures. Increasing patient admissions with chronic respiratory disorders, growing disease awareness initiatives and availability of highly skilled healthcare practitioners are some aspects that are fueling segment growth.
Europe mechanical ventilators market size is anticipated to surpass USD 720 million by 2032 due to a high awareness of chronic illnesses and critical or emergency care devices like homecare ventilators. Recently, the European Chronic Disease Alliance launched the Healthier Together program with the goal to go chronic disease-free by the end of this decade. Apart from this, many product manufacturers are concentrating on business expansion plans across European country will stimulate industry share.
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Mechanical Ventilators Market Scope
