Major players in the ventilator devices market are Philips Healthcare, ResMed, Medtronic, Becton, Dickinson and Company, GE Healthcare, Hamilton Medical, Dräger, Getinge, Smiths Group, and Fisher & Paykel.
New York, May 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ventilators Global Market Report 2022" - https://www.reportlinker.com/p06277161/?utm_source=GNW
The global ventilators market is expected to grow from $3.73 billion in 2021 to $4.12 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The market is expected to grow to $6.08 billion in 2026 at a compound annual growth rate (CAGR) of 10.2%.
The ventilator devices market consists of sales of ventilators used in respiratory care for patients with acute or chronic respiratory disorders. The sales consist of revenues generated by establishments that are primarily engaged in the manufacturing of intensive care ventilators (critical care ventilators), neonatal care ventilators, and portable & transportable ventilators.
The main types of ventilator devices are intensive care unit/critical care, transport/portable/ambulatory, and neonatal.Neonatal ventilator devices are kept in the healthcare settings for newborns and human infants during the first month after birth.
The interface is invasive and non-invasive. The various end-users are hospitals and clinics, home care, ambulatory care centers, and others.
Asia Pacific was the largest region in the ventilator devicess market.Western Europe was the second-largest region in the ventilator devices market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
There is an urgent and increased need for ventilators globally.This is because Covid-19 primarily manifests as an acute respiratory illness with pneumonia, and ventilators are the main supportive treatment for critically-ill patients.
They assist or replace respiratory functions, pumping oxygen into the blood for vital organs. Therefore, the ventilators market is expected to grow significantly with the rapidly increasing cases of Covid-19 disease worldwide.
The rising prevalence of respiratory diseases is driving the ventilators market.Chronic respiratory diseases such as asthma, bronchitis, pneumonia, and others resulting from different bacterial and viral infections and other causes will boost the demand for ventilators.
The ventilators are respiratory devices that are used to support respiration in patients with chronic respiratory diseases. For instance, as of December 2020, 67.9 million COVID-19 cases were reported. Coronavirus infects the lungs causing pneumonia and other respiratory disorders affecting patients’ respiration. The emergence of such infectious diseases resulting in a pandemic is driving the ventilators market.
The number of complications associated with the use of ventilators is expected to negatively affect the ventilators market.The ventilators cause complications including bronchopleural fistula, pneumothorax, and nosocomial pneumonia, and similar complications that result in a decrease in cardiac output, gastric problems and renal impairment, alkalosis.
According to a report by Northwell Health COVID-19 Research Consortium in 2020, the death rate rose to 88% for those who received mechanical ventilation. The analysis of the report states that most of the patients could not survive after being placed on a mechanical ventilator.
The companies in the ventilator market are increasingly expanding their ventilator production capabilities realizing the current demand due to the outbreak of the COVID-19 pandemic.COVID-19 is a respiratory disease caused by the coronavirus that infects the lungs causing pneumonia and other respiratory conditions.
The patients affected with the virus suffer from severe pneumonia and lung dysfunction resulting in the need for ventilator support for respiration.For instance, in March 2020, Medtronic, a leading medical device manufacturer increased its ventilator production by 40%.
Also, in March 2020, Philips targeted to increase its ventilator production capacity by 4-fold, to meet the rising demand.
In July 2019, ResMed, a US-based medical device company acquired HB Healthcare for an undisclosed amount.This acquisition is to help millions of South Koreans living with sleep apnea, chronic obstructive pulmonary disease (COPD), and other respiratory conditions.
HB Healthcare is a South Korean home medical equipment provider.
The countries covered in the ventilator devices market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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