Global Mechanical Medical Ventilators Market is valued approximately USD 2,562 million in 2019 and is anticipated to grow with a healthy growth rate of more than 6.9% over the forecast period 2020-2026.
A mechanical ventilator is a type of machine that assist patients with chronic respiratory disease or inadequate breathing while inhaling and exhaling air in and out of the lungs. A patient is linked to a ventilator via an endotracheal tube precisely applied to the airway or NIV (Non-Invasive Ventilation mask) mask. It is also used as a diagnostic tool to determine the irregular functioning of the respiratory system and static compliance of airway resistance. In the present scenario, hospitals and the governments raise the alarm about a shortage of ventilators due to the COVID-19 crisis around the world. For this reason, several companies are focusing to increase the production of mechanical ventilators. Therefore, the mechanical medical ventilators market is experiencing a significant increase in demand due to the Covid19 crisis. Further, increasing cases of respiratory diseases and Chronic Obstructive Pulmonary Disease (COPD), rapid growth in the geriatric population and improving healthcare infrastructure in emerging economies are the few factors responsible for high CAGR of the market over the forecast period.
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According to the World Health Organization, the number of people aged 65 or older is projected to grow to nearly 1.6 billion till 2050 from an estimated 524 million in 2010, with most of the increase in developing countries. Thus, growing target population base demanding long-term treatment for chronic respiratory conditions thereby, augmenting the growth of mechanical medical ventilators in the global market. However, unfavorable reimbursement scenario and complications related to the use of ventilators are the few factors expected to hamper the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Mechanical Medical Ventilators market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing prevalence of respiratory diseases, rising healthcare expenditure and the presence of well-developed healthcare infrastructure in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to the increase in prevalence of chronic heart diseases & respiratory illness, along with the presence of large patient pool in the countries such as China and India.
Major market player included in this report are:
Becton, Dickinson and Company
Carl Reiner Gmbh
Draegerwerk AG & Co. KGaA
Getinge AB (Maquet Holding B.V. & Co. KG)
General Electric Company (GE Healthcare)
Hamilton Medical AG
Koninklijke Philips N.V.
Medtronic Plc. (Covidien Ltd.)
Mindray Medical International Limited
Smiths Group Plc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Intensive Care Unit/Critical Care
By Age Group:
Hospital & Clinic
Ambulatory Surgical Center
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
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Target Audience of the Global Mechanical Medical Ventilators Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers