The ventilator is a life-supporting healthcare device that regulates the breathing of a patient during his treatment. It is used in the serious lung disease condition or in other conditions that result in improper working of respiratory system. It helps the patient to breathe easily. Based on delivery of oxygen into the lungs, these ventilators are of two types: positive pressure mechanical ventilators and negative pressure mechanical ventilators. Ventilators are generally used in the hospitals. However, in conditions where patient needs the long term care facilities and need ventilators for the rest of their lives, the ventilators can also be used at home.
As per study, “Ventilators Global Market Report 2020-30: Covid 19 Implications and Growth” the key companies operating in the global ventilator market include ResMed; Philips Healthcare; Medtronic; GE Healthcare; Hamilton Medical; Becton, Dickinson and Company; Drager; Fisher & Paykel; Getinge; Smiths Group; Air Liquide; Teleflex Incorporated, Allied Healthcare Products. The leading companies in the global ventilator market are progressively more expanding their ventilator production capabilities realizing the current demand owing to the outbreak of the COVID-19 (corona-Virus) pandemic, which is a respiratory disease caused by COVID-19 that infects the lungs causing pneumonia and other respiratory conditions. The patients affected with this virus suffer with severe pneumonia and lung dysfunction resulting in require for the ventilator support for respiration.
By type, ventilator market is segregated as transport/portable/ambulatory, intensive care unit/critical care, neonatal and others. Intensive care unit segment dominates the global market owing to high adoption and hospitalization rates. In addition, by end-user, market is segregated as home care, hospitals & clinics, ambulatory care center and others. Hospitals segment is expected to exhibit substantial growth rate due to rapidly increasing incidence of corona-virus disease during the forecast period.
The ventilator market is driven by increase in number of preterm births, followed by rise in prevalence of respiratory diseases, rapid growth in the geriatric population, increase in government initiatives for boosting the ventilator production, rise in pollution level, increase in number of intensive care beds in emerging economies and rise in healthcare expenditure. However, complications associated with the use of ventilators and dearth of skilled medical workers may impact the market. Moreover, growth in technological advancements and rise in demand for homecare therapeutic devices are key opportunities for market. Furthermore, increase in preference for portable & home care ventilators and growth in adoption of home mechanical ventilators are major trends for market.
By geography, the North-America is a leading region in global market owing to availability of better healthcare infrastructure coupled with improving reimbursement scenario for ICU procedure across the region. The Asia-Pacific and Europe regions are likely to witness higher growth rate due to emerging economy and growth in improvement in healthcare technologies over the forecast period. It is predicted that global ventilator market will be reached at rapid pace on account of rise in incidence of chronic diseases such as pulmonary and other respiratory diseases coupled with increase in aging population during the forecast period.
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Ankur Gupta, Head Marketing & Communications