Redding, California - August 28, 2024
Ventilators Market to be Worth $13.23 Billion by 2031
Ventilators Market Size, Share, Forecast, & Trends Analysis by Product (Instrument, Catheter, Mask, Tube) Mobility (Intensive Care, Portable) Interface (Invasive, Non-invasive) Age Group Mode (Volume, Pressure) End User – Global Forecast to 2031
Meticulous Research®—a leading market research company, published a research report titled, ‘Ventilators Market Size, Share, Forecast, & Trends Analysis by Product (Instrument, Catheter, Mask, Tube) Mobility (Intensive Care, Portable) Interface (Invasive, Non-invasive) Age Group Mode (Volume, Pressure) End User – Global Forecast to 2031’
According to this latest publication from Meticulous Research®, the ventilators market is projected to reach $13.23 billion by 2031, at a CAGR of 8.3% from 2024 to 2031. Key drivers contributing to the growth of this market include the growing number of ICUs, which increases the need for associated systems & equipment; a rising incidence of respiratory conditions; rapid pace of urbanization and subsequent increase in pollution levels; an aging population; and a surge in preterm births. However, the high costs of ventilators and the high preference for alternative oxygenation therapies restrain the market’s growth.
Moreover, the advancement of healthcare infrastructure in emerging regions like Asia-Pacific and Latin America and the rising demand for home care therapeutic devices are likely to create opportunities for market growth. However, the adverse effects of ventilators on neonates and difficulties in securing components used for ventilator manufacturing are challenges impacting the growth of this market.
Traditionally, conventional/invasive ventilators have dominated the market. However, they have some limitations, such as portability issues, discomfort of patients, and the restrictions of age groups in such devices. However, over the years there have been advancements that help overcome these challenges. For instance, several non-invasive and portable ventilators have been launched that can be used outside of hospitals or healthcare facilities. Another such advancement is the introduction of wearable ventilators. For instance, Shinano Kenshi Co., Ltd. (Japan) is a company that is researching to develop a wearable ventilator system to be used by patients suffering from COPD or who have gone through lung transplants. This device will make the transportation of such patients easier as compared to traditional ventilators.
Key Players
The key players profiled in the ventilators market report are Schiller AG (Switzerland), Hamilton Medical AG (Switzerland), Koninklijke Philips N.V. (Netherlands), GE HealthCare Technologies, Inc. (U.S.), Medtronic plc (Ireland), Getinge AB (Sweden), ResMed Inc. (U.S.), Zoll Medical Corporation (U.S.), Drägerwerk AG & Co. KGaA (Germany), Fisher & Paykel Healthcare Limited (New Zealand), and VYAIRE MEDICAL, INC. (U.S.).
The ventilators market is segmented by Product (Ventilator Accessories [Ventilator Catheters, Endotracheal Tubes, Ventilator Masks, and Other Ventilator Accessories], Ventilators/Instruments), Mobility (Intensive Care Ventilators and Portable Ventilators), Interface (Invasive Ventilators and Non-invasive Ventilators), Age Group (Adult & Pediatric and Neonatal & Infant), Mode (Volume Mode Ventilation, Dual/Combined Mode Ventilation, Pressure Mode Ventilation, and Other Ventilation Modes), End User (Hospitals, Homecare Settings, Ambulatory Surgical Centers (ASCs), and Other End Users), and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.
Among the products covered in this report, in 2024, the ventilator accessories segment is anticipated to dominate the overall market with a share of 36.8%. This segment’s dominance is mainly due to the widespread use of these accessories, the growing emphasis on hygiene at hospitals, and the additional functionality offered by these accessories in administrating medications.
Based on mobility, in 2024, the intensive care ventilators segment is anticipated to dominate the overall ventilators market with a share of 76.2%. This segment’s dominance is mainly due to the rising demand for ventilators in intensive care units, the availability of reimbursement options for ventilation & respiratory treatments, an increasing number of patient admissions to critical care units due to the high prevalence of chronic & respiratory diseases, and a growing incidence of preterm births globally.
Among the interfaces studied in this report, in 2024, the invasive ventilators segment is anticipated to dominate the overall market. This segment’s dominance is attributed to the widespread utilization of invasive ventilators in ICUs for patients with chronic respiratory and infectious diseases, neurological disorders, and sleep disorders.
Among the age groups studied in this report, the adult & pediatric segment is anticipated to dominate the overall market. This segment’s dominance is mainly due to the high adoption of ventilators among the elderly, who are more susceptible to chronic and infectious diseases.
Among the modes studied in this report, in 2024, the volume mode ventilation segment is anticipated to dominate the overall ventilators market. This segment’s dominance is mainly due to the widespread adoption of volume-controlled ventilators in intensive care units due to their advantages, including precise minute ventilation and consistent tidal volume delivery.
Among the end users studied in this report, in 2024, the hospitals segment is anticipated to dominate the overall market. This segment’s dominance is mainly due to the rising number of patients with respiratory illnesses, coupled with the availability of skilled medical professionals and access to advanced medical devices, such as ventilators, in hospitals.
Among the regions studied in this report, in 2024, North America is anticipated to dominate the overall ventilators market with a share of 55.7%. North America’s significant market share can be attributed to its well-established healthcare infrastructure, widespread adoption of advanced technologies, the presence of major market players, high demand for technologically advanced medical equipment, an increasing geriatric population, and rising demand for long-term and home healthcare solutions.
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Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of product, mobility, interface, age group, mode, end user, and geography?
- What was the historical market size for ventilators across the globe?
- What are the market forecasts and estimates for the period 2024–2031?
- What are the major drivers, restraints, opportunities, and challenges in the ventilators market?
- Who are the key players operating in the ventilators market?
- What is the competitive landscape like?
- What are the recent developments in the ventilators market?
- What are the different strategies adopted by the major players in the ventilators market?
- What are the geographical trends and high-growth regions/countries?
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