Mechanical Ventilator Market worth over $9bn by 2026

Mechanical Ventilator Market size is set to surpass USD 9 billion by 2026, according to a new research report by Global Market Insights, Inc.
 

Growing geriatric population suffering from chronic respiratory diseases is one of the factors impelling the market growth. Increasing prevalence of pandemic virus infections resulting in respiratory emergencies will boost the market expansion over the forecast period. Additionally, growing investments in healthcare facilities coupled with an upsurge in the number of critical care beds will augment the industry growth across the globe.

 

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Continuously rising cases of COVID-19 coupled with introduction of technologically developed ventilators will foster the mechanical ventilator market value

The growing presence of large patient pool suffering from the pandemic COVID-19 outbreak is anticipated to witness the robust growth in the coming years. For instance, according to a recently published statistics by the Centers for Disease Control and Prevention (CDC), in April 2020, the confirmed and presumptive positive cases of COVID-19 in the U.S. were more than 300,000. Thus, owing to these statistics the market will showcase the significant growth. Moreover, with the advent of technological advancements in mechanical ventilators, that will be used to assist the patients with breathing problems will further enhance the market progression over the forecast period.
 

Increasing mass casualty incidents across the globe will positively impact the segment growth

Global Mechanical Ventilator Market, By Product

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The portable ventilators segment accounted for USD 400 million in 2018 led by drastic increase in the COVID-19 cases across the globe, mass casualty incidents, growing number of patients with pneumonia and ability to improve critical care transportations.
 

Several uses of invasive ventilators for the treatment of various respiratory disorders will propel the segment expansion

The invasive mechanical ventilator market is projected to expand at 17.5% growth rate by 2026. The invasive ventilation is used during acute respiratory failure, weaning and chronic respiratory disorders. In addition, it assists in maintaining the patient’s airway at the time of surgical operations.
 

Rising deaths of children coupled with increasing number of preterm births will positively influence the growth of neonatal ventilators

The neonatal ventilators segment exceeded USD 300 million in 2018 due to increasing number of preterm births and large number of children deaths below the age of 5. For instance, as per the recent statistics by Our World in Data, globally, over 3.9% of all children die before reaching the age of five. Thus, this will generate a market demand for neonatal ventilators in the future.
 

Browse key industry insights spread across 1,000 pages with 2,556 market data tables & 40 figures & charts from the report, Mechanical Ventilator Market Size By Product (Intensive Care Ventilators {High-end, Mid-end, Basic-end}, Portable Ventilators), By Interface (Invasive Ventilation, Non-invasive Ventilation {CPAP, BiPAP, APAP}), By Ventilator Type (Adult Ventilators, Neonatal Ventilators), By Application (Resuscitation, Homecare Applications, Emergency/Transport, Sleep Apnea Therapy, Anaesthesiology, Clinical Applications), By Mode (Combined Mode Ventilator, Control Mode Ventilator, Pressure Mode Ventilator), By End-use (Hospitals, Ambulatory Surgical Centers, Homecare), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/mechanical-ventilator-market
 

Companies manufacturing new ventilation systems for home healthcare will support the market revenue

The mechanical ventilator market for homecare applications segment captured around 20% of revenue share in 2018 on account of it is more convenient, less expensive and equally effective as compared to the care received in hospitals and ambulatory surgical centers. The growing demand for home healthcare has urged major companies to develop new and easy-to-operate ventilators.
 

Several unique advantages of combined mode ventilation will stimulate the segment progression

The combined mode ventilator segment was valued at USD 400 million in 2018. The combined mode ventilator system switches between pressure control and volume control in a single breath. It also provides an additional benefit to reduce work of breathing while maintaining a minimum guaranteed tidal volume and minute ventilation.
 

Increasing number of hospital admissions owing to outbreak of COVID-19 will contribute to the segment revenue

The hospitals segment held 44% of the mechanical ventilator market share in 2018 driven by the strong presence of patients suffering from COVID-19 that leads to the hospital admissions, which in turn will lead to the adoption of ventilators in hospitals. For instance, according to the recently published news article, in March 2020, the number of people hospitalized in the UK with COVID-19 was more than 10,000. Furthermore, rising number of chronic respiratory diseases is also contributing into the industry demand.
 

Strong presence of companies manufacturing mechanical ventilators and growing prevalence of coronavirus disease will spur the market growth

Spain mechanical ventilator market is predicted to register an exponential growth during the forecast period. Growing prevalence of COVID-19 cases and increasing rate of hospitalization attributed to respiratory illness will drive the growth of mechanical ventilators across the country. For instance, according to a recent report published by the World Health Organization, in April 2020, the total confirmed cases of COVID-19 in Spain were around 135,000 with over 13,000 total deaths. Companies are focusing on the manufacturing of ventilators to support hospitals and ICUs in the current health crisis.
 

China mechanical ventilator market is poised to grow at a CAGR of over 15% by 2026. Growing demand for the lifesaving machines due to COVID-19 pandemic will provide opportunity to ventilator manufacturing companies. For instance, as per the recent news, in March 2020, Chinese companies have signed the contracts for manufacturing 20,000 multifunction mechanical ventilators and this production is expected to increase on a daily basis in the future. Moreover, large existing patient pool receiving prolonged mechanical ventilation in intensive care units and strong presence of companies manufacturing mechanical ventilators will further contribute to the business growth over the forecast period.
 

Companies focusing on new product launches and production expansions will positively impact the industry expansion

The major players functioning in the mechanical ventilator market are Medtronic, Getinge, Drägerwerk, Hamilton Medical, Philips, ResMed, GE Healthcare and Fisher & Paykel among others. In order to increase the market share and geographical presence, these companies are focusing on major strategies such as partnerships, new product launches, acquisitions, collaborations and production expansions.
 

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