Mechanical Ventilators Market is anticipated to record robust growth of 9.6% and market value is estimated to reach up to USD 16372 Million in the forecast period 2022-2030
The Mechanical Ventilators Market was valued USD 2,546 Million in 2019 and expected to reach USD 16,372 Million by 2027 at 9.6% CAGR during the forecast period (2020-2027). Furthermore, the Mechanical Ventilators Market Value is estimated to . Mechanical Ventilators are useful machines that help in managing breathing issues among patients. Hence, they play an important role in reducing respiratory problems.
Since the past several years, the demand for mechanical ventilators has increased significantly. Along with the rapid technological development will further enhance the market growth. According to the Mechanical Ventilators Market Analysis, the Asia-Pacific region is evaluated to experience the fastest growth.
The COVID-19 had a positive impact on the Mechanical Ventilators Market. Because breathing problem was one of the severe symptoms of the disease. As a result, the demand for mechanical ventilators increased from 2020 to 2027. Therefore, the market will also have significant growth in the future years.
The major factors pushing the Mechanical Ventilators Market Growth are the increasing geriatric population. Also, the rising cases of respiratory diseases and supportive initiatives by the government will drive the market growth significantly.
The failure and recall of mechanical ventilators can restraint the market growth. Furthermore, the high costs of machines can slow down the market growth.
Several opportunities are anticipated to improve the market growth. The positive initiatives by key players such as collaborations, partnerships, and the development of new products are some favorable opportunities for market growth.
The complicated procedures for mechanical ventilation can be a major risk. Also, the lack of significant infrastructure and professionals is projected to be a challenge for the market.
Factors such as increasing respiratory cases, rising geriatric population, and technological developments are driving the market extensively. Hence, the market is expected to record robust growth in the future years.
Value Chain Analysis
The increasing demand for mechanical ventilators will have a positive effect on the Mechanical Ventilators Market Trends. Also, with the support of various government initiatives and developments by key players, the market growth is estimated to be robust in the future. Along with that, the rapid development and rising cases of respiratory diseases and coronavirus will further improve the value chain of the market in the upcoming years.
The segments of the Mechanical Ventilators Market are divided into product type, age group, mode, and end-user. On the basis of product type, the market is fragmented into Neonatal Care, Intensive Care, Transport, or Ambulatory. The sub-segment of neonatal care is predicted to have significant growth due to an increase in the fertility rate. However, the ICUs previously held the largest share in the market. Therefore, it will have an immense share due to the high installation and adoption of mechanical ventilators in hospitals. Apart from that, the portable or ambulatory sub-segment is predicted to experience the fastest growth in the future. Because the hospitals are promoting the use of portable ventilators to provide convenient and fast care for patients.
On the basis of mode, the Mechanical Ventilators Market is bifurcated into Invasive and Non-Invasive Ventilation. Non-invasive ventilation is expected to hold the largest share in the market. Positive factors such as better tolerance, cost-effectiveness, and convenience are fuelling this segment. However, the invasive sub-segment will also record a significant share in the market in the studied forecast period.
On the basis of age group, the Mechanical Ventilators Market is segmented into Paediatric and Adult. The Paediatric sub-segment holds the largest share in the market. Several factors such as the rising number of respiratory diseases, chronic diseases like COPD are enhancing the market growth in this region.
On the basis of end-user, the Mechanical Ventilators Market is fragmented into Home Care, Clinic and Hospital, and Ambulatory Surgical Centre. The clinics and hospitals sub-segment will have a high growth due to the adoption of new technologies to improve diagnosis. However, the home care section also holds the largest share due to the affected geriatric population at a high rate. Also, ambulatory centers are depicted to have significant growth due to the innovation of minimally invasive techniques.
The Mechanical Ventilators Market Size is divided into Europe, Americas, Asia-Pacific and Africa, and the Middle East. It is projected that the Americas will dominate the market in the upcoming years. In the year 2019, this region also held the highest share. Various factors such as supportive policies for insurance, increasing population of older people, are driving the market in this region. Also, the increasing cases of COVID-19 disease among the geriatric population are fuelling the demand for mechanical ventilators are boosting market growth.
Secondly, Europe is anticipated to hold the second-largest Mechanical Ventilators Market Share. Previously in 2020-2027, this region witnessed significant growth in the forecast period. However, the reasons for the growth can be considered due to the increasing cases of COVID-19 disease. Due to this, the demand for new beds for the geriatric population is rising. Therefore, it is fuelling the Mechanical Ventilators Market Growth.
Asia-Pacific region is expected to observe rapid growth in the Mechanical Ventilators Market. The increasing rate of respiratory diseases and expenditure to improve the healthcare system are boosting the market growth. Apart from that, the strategic implications by the market players such as investments, collaborations, partnerships are leading to immense market growth.
Africa and the Middle East region are anticipated to grow at a substantial rate. The increasing rate of innovative products and improvement in healthcare is having a positive impact on the market. Along with that, developments by key players such as the launch of a new product by a company called the Dragerwerk AG in Dubai are leading to notable market growth.
The Mechanical Ventilators Market is fragmented with various key players. These key players play an important role in improving market growth. They take various strategies steps such as mergers, acquisitions, partnerships, key players, etc. Some of the key players in the market are as follows.
The overview of the Mechanical Ventilators Market Outlook is as follows.
Report Score and Segmentation
The report score of the Mechanical Ventilators Market Forecast is to provide valuable information about the market CAGR, drivers, opportunities, challenges, etc. Therefore, the information provided in this report is collected from various secondary and primary sources.
|Market Size||USD 16372 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Mode and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Getinge AB (Sweden), Becton, Dickinson, and Company (BD) (US), Medtronic (Ireland), Draeger Medical GmbH (Germany), GE Healthcare (US), Macquet Gmbh & Co. KG (Germany), Koninklijke Philips N.V. (Netherlands), Smith’s Medical (US), Hamilton Medical (Switzerland), ACOMA Medical Industry Co., Ltd (Japan) among others.|
|Key Market Opportunities||Increasing the Geriatric Population along with the COVID-19 Outbreak Drives the Global Mechanical Ventilators Market.|
|Key Market Drivers||
Mechanical Ventilators Market can thrive at 9.6% CAGR by 2027.
In 2019, the Mechanical Ventilators Market was valued at USD 2,546 Mn.
Becton, Dickinson, and Company (BD) (US), Getinge AB (Sweden), and Medtronic (Ireland) are some reputed Mechanical Ventilators Market players.
Expansion of aged population base can drive the aircraft systems market.
High cost of products can restrain the Mechanical Ventilators Market rise.