Global Mechanical Ventilators Market to Grow at 4.91% During 2023-2028, Spurred by the Outbreak of COVID-19

According to the latest report by IMARC Group, titled "Mechanical Ventilators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global mechanical ventilators market size reached US$ 5.2 Billion in 2022. A mechanical ventilator is a form of life support system that aids patients who are unable to breathe on their own due to a critical illness or during surgery. This machine consists of a hollow tube that is inserted through the mouth of the patient and into the airway. It ensures the availability of adequate oxygen in the body until the health condition of the individual improves. These devices are mostly employed in Intensive Care Units (ICUs), neonatal care centers and ambulances to relieve respiratory distress and initiate lung healing. These ventilators are widely used in the treatment of hypoxemia, apnea, acute lung injury and chronic obstructive pulmonary disease (COPD).

Global Mechanical Ventilators Market Trends:

The global market is primarily driven by the rising incidences of chronic respiratory disorders. This can be attributed to the growing geriatric population, rising pollution levels and the increasing number of smokers across the globe. The rapid outbreak of the novel coronavirus disease (COVID-19) has also created an escalating demand for mechanical ventilators on the global level. A sudden spike in COVID-19 cases has significantly increased the number of critical patients who require intensive care for life support. Since the virus is known to damage the lungs in severe active cases, which further causes the body's oxygen levels to drop, thus making it difficult to breathe, ventilators are extensively used to alleviate the critical conditions and restore regulated breathing. Apart from this, the surging demand for these devices in the wake of the pandemic has led several non-medical enterprises to collaborate with ventilator manufacturing companies in an effort to meet the ever-increasing demand. Furthermore, product innovations and extensive research and development (R&D) have led to the introduction of portable and non-invasive mechanical ventilators with improved functionalities, which is acting as another major growth-inducing factor. Manufacturers are also integrating high-speed signal processing systems with these devices to achieve enhanced efficiency with an enhanced user interface. Some of the other factors contributing to the market growth include the growing adoption of home care therapeutics and the favorable initiatives undertaken by several governments to improve the healthcare infrastructure. On account of these factors, the market is expected to grow at a CAGR of 4.91% during 2023-2028.

Market Summary:

• On the basis of the product type, the market has been divided into intensive care, portable/ambulatory and other kinds of ventilators.
• Based on the interface, the market has been bifurcated into invasive and non-invasive ventilation.
• On the basis of the age group, the market has been classified into pediatric, adult and geriatric.
• Based on the mode of ventilation, the market has been segmented into combined, volume, pressure and other modes of ventilation.
• On the basis of the end-use, the market has been categorized into hospitals and clinics, home care, ambulatory care centers, and others.
• On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
• The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players. Some of these players include Allied Healthcare Products, Air Liquide, Asahi Kasei, GE Healthcare Company, Hamilton Medical AG, Maquet GmbH & Co. KG (Gatenge), Medtronic Plc, Mindray Medical International Ltd., Philips Healthcare, ResMed, Smiths Group Plc, Vyaire Medical Inc.

Report Scope:

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