Ventilators are type of medical devices used by patients who face breathing problems or are unable to maintain proper oxygen levels in their body. Ventilators basically provide proper supply of oxygen to the patient and ensure carbon dioxide is carried out of the patient’s body. These are widely used in various hospitals especially, in trauma care centers and intensive care units (ICU).
High prevalence coupled with increasing incidence of chronic respiratory diseases especially, chronic asthma and chronic obstructive pulmonary disease (COPD) is a major factor boosting growth of the global ventilators market. Also, increasing geriatric population, rising pollution levels, increasing cases of preterm births, and high prevalence of smoking are other factors expected to fuel growth of the global market over the forecast period. But, high costs associated with procurement, use, and maintenance of ventilators especially transportable ventilators and problems occurring from use of ventilators such as damage to lungs and related parts are major factors hampering growth of the global market.
The global ventilators market report has been segmented on the basis of product type, mode of ventilation, age group, end user, and region. On the basis of region, the global ventilators market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America accounted for highest share in terms of revenue in the global ventilators market, and is projected to maintain its dominant revenue contribution over the forecast period. This can be attributed to high healthcare expenditure by governments and increasing incidence of chronic respiratory diseases owing to high prevalence of smoking and changing lifestyle in the region. The market in Europe accounted for second-highest revenue share in the global market, owing to high awareness levels about ventilators and high adoption of ventilators in households in the region. Moreover, the market in Asia Pacific is projected to register highest CAGR of X.X% over the forecast period, owing to presence of a large patient pool, increasing incidence of asthma and congestive heart failure (CHF), and increasing government initiatives for development of hospitals and medical infrastructure in emerging economies such as China, Japan, and India.
Prominent players in the global ventilators market include Koninklijke Philips N.V., ResMed, Medtronic Plc., Becton, Dickinson and Company, Getinge Group, Drägerwerk AG, Smiths Group Plc., Hamilton Medical, GE Healthcare, Fisher & Paykel, and Air Liquide S.A.