“World Mechanical Ventilators Market-Opportunity Analysis and Industry Forecast, 2014 - 2022” Order This Report by calling BigMarketResearch.com at +1-971-202-1575
Mechanical ventilation is a lifesaving intervention for patients with respiratory disorders or even respiratory failure. It is a form of breathing assistance in which a patient is connected to a ventilator through an endotracheal tube directly applied to the airway. It is also employed as a diagnostic tool to measure the static compliance of airway resistance and irregular functioning respiratory system. Currently, intensive-care and portable mechanical ventilators are the two most widely used ventilators available in the market.
The world mechanical ventilators market is estimated to garner $3.9 billion by 2022, with a CAGR of 5.4% from 2016 to 2022. The increasing incidence of chronic diseases, such as chronic obstructive pulmonary disease (COPD), asthma, bronchitis, and other lunch disorders, and increasing number of accidental emergencies lead to the substantial requirement of mechanical ventilators. In addition, growing geriatric population prone to respiratory emergencies is one of the key drivers of the market. In the U.S., the critically ill geriatric population accounted for around 52% of all the intensive care unit (ICU) admissions in 2015, among which, around 80% admissions were kept on ventilation. Moreover, technological innovation in respiratory care devices, namely, non-invasive ventilation technology and portable mechanical ventilators, further supplement the market growth. The increase in preference of portable and home care ventilations for long-term ventilated patients is expected to be another major factor influencing the market growth. On the contrary, the injuries associated with invasive mechanical ventilation such as pneumonia, lung injury and barotrauma, and high cost of mechanical ventilators are the prime factors restricting the market growth.
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The mechanical ventilators market is segmented based on components, type, mode of ventilation, and age group. Based on components the market is further segmented into devices and services. Based on type, the market is further segmented into intensive care ventilator and portable/transport ventilator. Intensive care mechanical ventilators are the most widely used type of ventilators and hold the dominant share in the mechanical ventilator market. However, portable/transport mechanical ventilators segment was reported to be the fastest growing segment owing to technological innovation and shifting trends to home care ventilation. Based on the mode of ventilation, the market is segmented into non-invasive and invasive ventilators. Non-invasive ventilators are specifically designed for critically ill patients suffering from respiratory failure, congestive cardiac failure, and newborn infants. The non-invasive ventilators market is expected to grow at a rapid pace because of patients’ convenience, less side effects along with faster recovery provided by these ventilators. Based on geography, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA.
Companies are adopting product launch and expansion as their key development strategies in this market. For instance, Maquet Medical Systems USA have launched two new intensive care ventilators, namely, SERVO-U and SERVO-n in 2016. Mindray Medical International Limited, Becton Dickinson and Company (CareFusion), Philips Healthcare, Carl Reiner Gmbh, Getinge Group (Maquet), Draegerwerk AG & Co. KGaA (Drager), General Electric Company (GE Healthcare), Hamilton Medical AG, Covidien (Medtronic, Inc.), and Smiths Group Plc (Smiths-Medical) are few of the dominant players in the mechanical ventilators market.
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MECHINICAL VENTILATOR MARKET KEY SEGMENTS:
By product type:
By mode of ventilation
By age group
Pediatric and neonates
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Last updated on: 10/10/2016
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