How is the Mechanical Power Transmission Equipment Market Poised for Growth: Trends and Opportunities Through 2034
Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
What is the Predicted Annual Growth Rate of the Mechanical Power Transmission Equipment Market Over the Coming Decade?
There’s been a significant increase in the size of the mechanical ventilator market in the preceding years. It is predicted to rise from $8.08 billion in 2024 to $8.8 billion in 2025, experiencing a compound annual growth rate (CAGR) of 8.9%. The historical period’s growth can be traced back to initiatives for emergency readiness, research, and development activities, advancements in medicine, critical care requirements, epidemics, pandemics, the aging demographic, and chronic respiratory ailments.
In the coming years, the mechanical ventilator market is projected to experience substantial growth, escalating to $12.66 billion by 2029, with a compound annual growth rate (CAGR) of 9.5%. The anticipated growth during the forecast period can be linked to global health emergencies and pandemics, readiness for emergency response, compliance with regulatory norms, governmental investments and initiatives, and the development of global healthcare infrastructure. The formula for growth during the forecast period is emphasizing on energy efficiency, synergizing with wearable technology, incorporating wireless connectivity and remote supervision, the use of artificial intelligence and machine learning, and modifiable and customizable systems.
Which Factors Are Enhancing the Growth of the Market?
The enhancement of healthcare infrastructure is projected to drive the expansion of the mechanical ventilator market. This infrastructure serves as the bedrock for planning, evaluation, delivery, and implementation of public health improvements. The surge of the COVID-19 pandemic has sparked an increase in readiness and the demand for enhanced healthcare facilities. A multitude of hospitals are expanding their mechanical ventilator capacity to handle urgent demands without encountering a deficit of treatment-related medical devices during emergencies. For example, in January 2024, as reported by the American Hospital Association, a trade organization for the US healthcare industry, there are altogether 6,120 hospitals in the United States, with 923 being operated by state and local governments. These facilities provide a cumulative 916,752 staffed beds to cater to the nationwide healthcare needs. Thus, the ongoing improvements in healthcare infrastructure are fueling the rise of the mechanical ventilator market.
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What Are the Major Players Making an Impact in the Mechanical Power Transmission Equipment Market’s Growth?
Major companies operating in the mechanical ventilator market include:
• Air Liquide_x000D_
• Medtronic plc_x000D_
• Koninklijke Philips N.V._x000D_
• GE Healthcare_x000D_
• Smiths Medical_x000D_
Which Upcoming Trends Are Set to Influence the Mechanical Power Transmission Equipment Market’s Path Forward?
The increasing focus on product innovation is emerging as a crucial trend in the mechanical ventilator market. Businesses are pouring resources into the design and creation of cutting-edge ventilators to be controlled automatically based on factors such as frequency, assist control, and time to decrease reliance on mechanical breathing devices. For example, a UK-based manufacturer of anesthesia equipment and accessories, OES Medical introduced its latest ICU ventilator, Gemini-G100, in January 2022. This sophisticated offering was crafted with a specific focus on aiding intensive care departments around the globe, especially in areas where stable, high-pressure oxygen supplies pose a challenge. The ventilator is exclusively operated by electricity, thereby eliminating any impact on the hospital’s oxygen supply.
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Which Market Segments Are Driving Strategic Growth and Trends in the Mechanical Power Transmission Equipment Market?
The mechanical ventilator market covered in this report is segmented –
1) By Type: Adult Ventilators, Pediatric Ventilators, Neonatal/ Infant Ventilators
2) By Mobility: Intensive Care Ventilators, High-End ICU Ventilators, Mid-End ICU Ventilators, Basic ICU Ventilators, Portable Ventilators
3) By Mode Of Ventilation: Invasive Ventilation, Non-Invasive Ventilation
4) By End-User: Hospitals and Clinics, Home Care, Ambulatory Care Centers, Emergency Medical Service, Other End-Users
Subsegments:
1) By Adult Ventilators: Invasive Adult Ventilators, Non-Invasive Adult Ventilators
2) By Pediatric Ventilators: Invasive Pediatric Ventilators, Non-Invasive Pediatric Ventilators
3) By Neonatal/Infant Ventilators: High-Frequency Ventilators, Conventional Ventilators for Neonates
What Regions Are Steering Growth in the Mechanical Power Transmission Equipment Sector?
North America was the largest region in the mechanical ventilator market in 2024. The regions covered in the mechanical ventilator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Core Features That Define the Mechanical Power Transmission Equipment Market?
A mechanical ventilator is a machine that automatically performs all or part of the effort required to transport gas into and out of the lungs. It helps a person to breathe when they find it difficult to breathe on their own.
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