The global market for ventilators is anticipated to gain traction in the coming years, according to a recently published report, by TMR Research.
The global market for ventilators is anticipated to gain traction in the coming years, according to a recently published report, by TMR Research. Titled, “Ventilator Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” the report elucidates on how the ventilators market is witnessing a surge due to progress in medical technology and rising geriatric population.
Provision of mechanical ventilation procedure is a lifesaving process for patients affected with a respiratory disorder or even undergoing a respiratory failure. It is a kind of assisted breathing in which the patient’s endotracheal tube is connected to the ventilator, giving direct access to the airway. It is also utilized as a diagnostic tool to evaluate the compliance of the resistance of the airway and the irregular functioning respiratory system.
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The rising incidence of chronic obstructive pulmonary disease (COPD), the growth in the population of aged individuals, innovation in medical technology, and prevalence of respiratory emergencies in respiratory care devices are the key factors likely to be responsible for the growth of the ventilators market over the coming years. The changing technology leading to use of cost-effective, patient-friendly, and portable devices further drive their usage. Moreover, the growing number of geriatric population worldwide is predicted to improve the applications of the market, fueling its growth. In the U.S., the overall population constituting a critical, aged population accounted for nearly 52% of the number of admissions to intensive care units (ICU), among which, approximately 80% patients were kept on ventilation. Technological innovations in respiratory care devices, such as non-invasive ventilation and portable mechanical ventilators, among others are further fuelling the global ventilator market. The growing inclination towards portable ventilators and home care for patients on ventilation for long durations is expected to be a major factor influencing the growth of this market.
Based on mobility, the intensive case ventilators were termed to be a key segment of the global ventilators market in 2017, on account of to the surge in demand for intensive care beds with ventilators across the world. Invasive ventilation interface is foretold to emerge as a leading segment of this market, on the basis of interface, due to the rising number of applications of intensive care ventilators in neurological and respiratory diseases, along with sleeping disorders.
Geographically, North America held the leading regional position in the years 2017, followed by Europe and Asia Pacific. This is ascribed to a substantial geriatric population and the rise in number of smokers, leading to magnified prevalence of respiratory ailments.
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The assemblers and producers in developing economies such as China and India are working towards provision of cost efficient, non-invasive ventilation techniques in order to cater to the local needs and imbibe flexibility in patient care. Small scale players are offering customization to patients to empower their local presence through collaborations and partnerships. The presence of a large pool of players points towards the competitive and fragmented structure of the global market for ventilators.
Key vendors operating in the global ventilator market include Fisher & Paykel, Philips Healthcare, Hamilton Medical, Airon Mindray, and GE Healthcare, among others.
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