Medley of Macro Factors Coupled with Rising R&D Investments to Drive Opportunities in the Global Mechanical Ventilators Market

Rapidly aging population, rise in chronic respiratory diseases such as COPD, the launch of advanced new technologies and ventilation formats, and rising demand for neonatal ventilators are poised to drive the global market for Mechanical Ventilators to reach US$7 billion by 2024.

The global mechanical ventilators is set to exhibit a strong growth, driven by the increasing aging population, growing incidence of chronic respiratory diseases, such as Chronic Obstructive Pulmonary Disease (COPD), and increase in critical care admissions. Rapid urbanization, rising pollution levels, , growing incidence of preterm births, and rising prevalence of smoking are the other growth propellers. Technological advancement in the field represents a key demand driver for mechanical ventilators. Technological innovations are focused upon improving synchrony between the patient and ventilator; reducing the risk of lung injuries caused due to high inspiratory pressure; reducing alarm fatigue; and structural design improvements and more usage settings. In addition, the positive reimbursement policies for ICU procedures and increasing R&D investments are set to drive the mechanical ventilators market.

The use of non-invasive ventilator is growing on account of lower side effects, quicker recovery, patient’s convenience and improved patient safety. Non-invasive ventilation is increasingly becoming a standard of care in several healthcare institutions worldwide. Portable and transport mechanical ventilators represent the fastest growing segment in the Mechanical Ventilators market. Innovations in portability of devices, Positive Airway Pressure (PAP), and enhanced battery life of portable and transport devices are a strong growth driver for this market segment. A gradual shift towards homecare ventilation is witnessed with the introduction of novel, advanced, and easy-to-use ventilators that are portable and lightweight. Focus is also being shed on safer engineering and structural design innovations that reduce the risk of ventilator induced lung injury (VILI).

The mechanical ventilators market is also witnessing growing demand for neonatal ventilators. Neonatal ventilators market, which is expected to experience good growth over the next few years, would be mainly driven by factors, such as increasing neonate mortality rates and the growing incidence of preterm births with respiratory disorders in infants. Increasing birth rate in developing nations is an important factor to positively impact the neonatal ventilators market. Technological innovations, such as non-invasive methods and enhancements in existing invasive respiratory support systems, are expected to fuel adoption rates of neonatal ventilators in developed markets as well as some areas in developing countries. However, high cost of these devices, particularly those used in the non-invasive procedures, deters adoption rates in some developing countries and certain under-developed regions.

As stated by the new market research report on Mechanical Ventilators, the United States represents the largest market for mechanical ventilators globally, backed by the strong healthcare infrastructure, growing aging population, adoption of newer technology, and improved reimbursement policies. Though ventilators is a mature market in industrialized regions, such as the US and Western Europe, developing regions are expected to register the fastest growing market for mechanical ventilators. Favorable government initiatives and expanding network of hospitals, untapped opportunities, and the growing number of intensive care units and neonatal intensive care units in these hospitals, are propelling the growth of mechanical ventilators in these regions. Asia-Pacific is expected to exhibit the fastest growth, at a CAGR of about 8.2% during the analysis period.

Key players in the market include Medtronic Plc., Dräger Medical Canada Inc., Fisher & Paykel Healthcare Corp. Ltd., GE Healthcare, Breas Medical AB, Hamilton Medical AG, MAQUET GmbH & Co. KG, Philips Respironics Inc., ResMed, Smiths Medical, and Vyaire Medical Inc., among others.

The research report titled “Mechanical Ventilators: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers and acquisitions, and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets, such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), The Middle East & Africa, Latin America (Brazil, and Rest of Latin America). Key segments analyzed include Critical Care, Neonatal, and Portable & Transport Ventilators.

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