Non-invasive Ventilators Market: Growing Prevalence of Chronic Respiratory Diseases and Need for Improved Critical Care to Foster Growth
The demand within the global non-invasive ventilators market is growing on account of advancements in healthcare treatment and analysis. The rising incidence of acute respiratory failure has played a major role in driving market demand. Furthermore, the healthcare industry has made commendable efforts towards treating respiratory diseases and disorders. The use of non-invasive ventilators is a much more comfortable treatment mechanism for patients as against bypass methods like laryngeal mask, traceable tube, and tracheostomy. Therefore, the total volume of revenues within the global non-invasive ventilators market is slated to touch new heights in the years to follow.
Transparency Market Research (TMR), in a key report, tabulates the CAGR of the global non-invasive ventilators market over the period between 2019 to 2027 at 6%. Furthermore, the total value of the non-invasive ventilators market is expected to touch US$ 2.7 Bn by the end of 2027.
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Rising Incidence of Pulmonary Disorders
Patients are averse to the idea of invasive surgeries and treatments, and this is a key consideration from the perspective of market growth. The market players can capitalise on the humongous demand for non-invasive medical procedures. The use of non-invasive masks helps patients in staying aware of the surrounding while oxygen is being supplied to them. The rising incidence of pulmonary diseases can be attributed to increasing levels of pollutions across the globe. Moreover, discharge of excessive wastes in the vicinity has posed a number of health risks for the masses. Therefore, the healthcare industry is faced by a number of challenges pertaining to pulmonary care and treatment. The use of non-invasive ventilators is a function of the rising cases of respiratory disorders in humans.
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Availability of High-Quality Masks
In recent times, high-quality non-invasive ventilation masks have made their way into the market. These masks can be adjusted according to the level of oxygen or breathing in required by the patients. Furthermore, easy adjustment and removal of these masks helps patients in staying control of their requirement. It is expected that the vendors in the non-invasive ventilators market would focus on providing add-on features to these masks. Furthermore, the presence of a supportive healthcare industry has given a thrust to the development of market players.
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The American Association of Homecare recently pointed to a new legislation that would prevent non-invasive ventilators from entering the medicare competitive bidding program. The legislation is meant to protect the access rights of patients for non-invasive ventilators. This may seem like a setback for the vendors operating in this market, but could play to the advantage of these vendors in the long run. The legislation shall help people in rural and suburban areas to get access to non-invasive ventilators.
Some of the notable players in the non-invasive ventilators market are GE Healthcare, Smiths Medical, Medtronic Plc., and O-Two Medical Technologies Inc.
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