Ventilators Market Forecast Reaching $7.17 Billion by 2029 at 9.8% CAGR
Discover trends, market shifts, and competitive outlooks for the ventilators industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
#How Has The Ventilators Market Growth Evolved From 2024 To 2025, And What’s Ahead?#_x000D_
Recent years have witnessed a robust growth in the size of the ventilators market. Forecasts predict an increase from $4.5 billion in 2024 to $4.94 billion in 2025, marking a compound annual growth rate (CAGR) of 9.6%. Factors such as the widespread occurrence of respiratory conditions, the popularity of surgical procedures, the increased use of intensive care units (ICUs), advancements in technology, and an aging population have all contributed to the growth in the historical period._x000D_
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The market for ventilators is predicted to experience significant expansion in the upcoming years, with its size anticipated to reach $7.17 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.8%. The surge in growth forecasted for this period can be linked to factors such as technological advancements, personalized healthcare, telemedicine, remote monitoring, and investment in hospital infrastructure. Major trends anticipated during the forecast period include the integration of digital health and telehealth, development in ventilation technologies, and the increased use of portable and transport ventilators._x000D_
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#Which Major Market Drivers Are Expected to Boost the Growth Potential of the Ventilators Market?#_x000D_
The ventilators market is being propelled by the increasing incidence of respiratory illnesses. A rise in chronic breathing conditions such as asthma, bronchitis, pneumonia, among others, as a result of various bacterial and viral infections and other factors, is spurring the need for ventilators. These ventilators, which are breathing aids, are utilized to assist patients with chronic respiratory disorders in their breathing. For example, the Australian Institute of Health and Welfare reported in 2023 that about 30% of Australians confirmed enduring long-term respiratory diseases. Out of the projected 7.5 million individuals with these conditions, 5.1 million Australians (20% of the total populace) were suffering from allergic rhinitis, also known as ‘hay fever,’ 2.7 million (11%) were diagnosed with asthma, and 2.0 million (8.0%) were living with chronic sinusitis (ABS 2022). The Coronavirus infects the lungs, leading to pneumonia and other respiratory conditions, thereby impacting patients’ breathing. The advent of these contagious diseases leading to a pandemic is catalyzing the growth of the ventilator market._x000D_
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#Which Key Market Segments Comprise the Ventilators Market and Drive Its Revenue Growth?#_x000D_
The ventilators market covered in this report is segmented –_x000D_
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1) By Type: Intensive Care Unit Or Critical Care, Transport Or Portable Or Ambulatory, Neonatal_x000D_
2) By Interface: Invasive, Non-Invasive_x000D_
3) By End-User: Hospitals And Clinics, Home care, Ambulatory Care Centers, Other End Users_x000D_
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Subsegments:_x000D_
1) By Intensive Care Unit (ICU) Or Critical Care Ventilators: Invasive Ventilators, Non-invasive Ventilators_x000D_
2) By Transport Or Portable Or Ambulatory Ventilators: Battery-operated Portable Ventilators, Lightweight Transport Ventilators_x000D_
2) By Neonatal: High-frequency Oscillatory Ventilators, Conventional Neonatal Ventilators_x000D_
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#Which Areas Are Leading Regions in the Ventilators Market Expansion Across the Globe?#_x000D_
Asia-Pacific was the largest region in the ventilator devices market in 2023. Western Europe was the second-largest region in the ventilator device market. The regions covered in the ventilators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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#What Are the Most Significant Market Trends in the Ventilators Market?#_x000D_
Ventilator market companies are beginning to expand their production capacity in response to the escalating demand triggered by the COVID-19 pandemic. COVID-19 is a lung-infecting respiratory disease induced by the coronavirus, leading to pneumonia and additional respiratory disorders. Patients infected with the virus often experience severe pneumonia and lung malfunction, necessitating the use of ventilators for breathing assistance. To illustrate, Medtronic, a preeminent manufacturer of medical devices, has raised its ventilator production by 40%. Similarly, Philips aims to quadruple its ventilator production, catering to the increasing demand._x000D_
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#How Is the Ventilators Market Conceptually Defined?#_x000D_
Ventilators are devices that function as bellows to draw air into and out of your lungs. The ventilator is programmed by the respiratory therapist and doctor to regulate how much air and how frequently it pushes air into the lungs._x000D_
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