Medical Ventilator Market Highlights
The demand for life-extending medical devices is increasing considerably, which has enabled further development of medical ventilators as well. Market reports associated with the medical device industry have been made available by Market Research Future which creates reports on other industry verticals that outline the current market scenarios. Medical Ventilator Market was valued at USD 3.23 billion in 2023 and is projected to reach USD 4.22 billion by 2030 at 4.51% CAGR during the forecast period 2022-2030 as per a new Market Research Future report.
The development of medically advanced facilities globally has also prompted a significant demand spike for medical ventilator market. The existence of significant players in the market is also modifying the product range that is available for use by end users. The escalation in the incidence of chronic diseases is expected to enhance the growth of the market in the forecast period.
Medical Ventilator Market Segmentation
The medical ventilator market report has been segmented based on types of ventilators, applications, and regions. The segmentation on the types of ventilators comprises of invasive ventilators, non-invasive ventilators, and portable mechanical ventilators. The non-invasive ventilators are additionally segmented into pressure-cycled, volume-cycled, flow-cycled, and time-cycled ventilators. The mechanical ventilators are additionally divided into negative pressure and positive pressure ventilators. Based on applications, the medical ventilator market is segmented into neonatal care, critical care, emergency care, and others. The regions reviewed in the market are Asia Pacific, North America, Africa, Europe, and the Middle East.
Medical Ventilator Market Players
The major competitors shaping the overall market expansion of medical ventilators are Koninklijke Philips N.V. (the Netherlands), Medtronic (Ireland), ResMed (U.S.), General Electric Company (U.S.), Allied Healthcare Products Inc. (U.S), Becton, Dickinson and Company (U.S.), Hamilton Medical (Switzerland) and Teleflex Incorporated (U.S.) among others.
Medical Ventilator Market Regional Analysis
The Asia Pacific region is displaying the top growth level in this market owing to the commonness of chronic heart diseases respiratory illnesses and the rise in environmental pollution that has created a large patient pool to drive the expansion of this market. Moreover, the demand for point-of-care administration, increase in surgical procedure and the demand for non-invasive ventilators drive this market in Asia Pacific. The market demonstrates a stable but intensifying growth in the Middle East and African regions owing to the occurrence of obesity, heart disease, and other chronic illness, and escalating number of surgical procedures being carried out in hospitals.
The Americas region is the leading market for medical ventilators due to a boost in lifestyle diseases resulting in chronic obstructive pulmonary diseases, asthma, bronchitis other disorders. Moreover, the rise in surgical procedures, a growing number of critically ill patients, as well as the existence of a huge number of medical device manufacturers in the U.S is enhancing the development of the market. Furthermore, the addiction to smoking is also contributing to the development of this market. The European region is the next principal market whose expansion is credited to the escalating prevalence of chronic respiratory diseases and the subsequent demand for mechanical ventilators. The development of healthcare infrastructure, accessibility to funds from the government and the demand for critical care devices will also add to the growth of this market in the European region.
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