The latest market report published by Credence Research, Inc. “Mechanical Ventilators Market Growth, Future Prospects, and Competitive Analysis, 2018 – 2026” the mechanical ventilators market was valued at US$ 779.5 Mn in 2017 and expected to reach US$ 1,532.5 Mn by 2026 at a CAGR of 7.9% during the forecast period from 2018 to 2026.
Browse the full report Mechanical Ventilators Market Growth, Future Prospects, and Competitive Analysis, 2018 – 2026 at http://www.credenceresearch.com/report/mechanical-ventilators-market
The global mechanical ventilators market exhibits lucrative growth during the forecast period from 2018 to 2026 attributed to technological advances in mechanical ventilators and increasing prevalence of airway diseases across the world. Technological advances in mechanical ventilators such as portable and non-invasive mechanical ventilators are attaining higher momentum in home care settings. Ventilators have advanced from basic or simple machines to complex, electronic, micro-processing engines with improved capabilities and options/features. The mode options such as volume-based and pressure-based designed to accomplish the pulmonary needs of the critically ill & anesthetized patients. The advent of next-generation sensors, pneumatic components, and single chip-solutions is improving the efficiency of the device. Additionally, rapid innovation in the field of portability, positive airway pressure (PAP) devices, and improvement in battery life of portable or transportable devices are assisting in the market growth. On the contrary, complications associated with the use of ventilators such as ventilator-associated pneumonia, airway injury, pneumothorax, alveolar damage, diaphragm atrophy, decreased cardiac output, and oxygen toxicity anticipated to hinder the market growth during the forecast period. Furthermore, rising prevalence of airway diseases such as chronic obstructive pulmonary disease (COPD), asthma, bronchitis, and other lung diseases like tuberculosis (TB), pleural effusion, pulmonary fibrosis, and cystic fibrosis (CF) anticipated fueling the demand for mechanical ventilators in near future. For instance, The World Health Organization (WHO) reported that nearly 65.0 million patients were suffering from the COPD in 2005 rose to more than 174.0 million in 2015, to 251.0 million cases in 2016 across the globe.
Key Market Movements:
- Globally, the mechanical ventilators market remains to exhibit a profitable growth with a CAGR of 7.9% for the period from 2018 to 2026
- Based on the product, the intensive care unit/critical care ventilators & accessories segment is expected to spearhead the market with increasing prevalence of airway diseases along with a surge in the number of ICU admissions & ICU beds equipped with ventilators
- Invasive ventilators administered via endotracheal tube inserted into the patient’s nose or mouth, or through a tracheostomy. Patients on long-term ventilation mostly need invasive ventilation thereby demand is on surge. Worldwide newborn baby population is on the rise, which is extremely demanding invasive ventilators, resulting in commanding market share over the forecast period.
- Advances in non-invasive ventilators like administration of ventilatory support without using an invasive artificial airway such as tracheostomy tube or endotracheal tube in the trachea are gaining higher traction in pediatric intensive care units (PICUs). Non-invasive ventilators used for the treatment of acute respiratory distress syndrome (ARDS), pneumonia, asthma, upper airway obstruction, acute chest syndrome, and post-extubation respiratory failure.
- North America to contribute maximum in the overall growth of the mechanical ventilators market attributed to rising prevalence of airway diseases and the presence of key market players & sophisticated healthcare infrastructure in the U.S. and Canada
- Asia Pacific to register lucrative CAGR during the forecast period owing to growing awareness among people about respiratory diseases and its treatment, surging geriatric population & a number of healthcare settings, and increasing healthcare spending in India, China, and Japan
- Major players in this vertical are Philips Healthcare; GE Healthcare; Medtronic; BD (Becton, Dickinson and Company); Smiths Medical; Getinge AB; Hamilton Medical; Drägerwerk AG & Co. KGaA; ResMed; and Fisher & Paykel Healthcare Limited