Global Ventilators Market Trends
Medical Equipment

Ventilators Market Size, Share, And Growth Rate Analysis 2023

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s ventilators market report forecasts the ventilators market size to grow to $6.70 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

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Ventilators Market Size Forecast
The global ventilators market is expected to grow from $4.12 billion in 2022 to $4.55 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global ventilators market size is expected to grow to $6.70 billion in 2027 at a CAGR of 10.2%.

Asia-Pacific held the largest ventilators market share.

Key Ventilators Market Driver ­– Rise In The Prevalence Of 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 ventilator market.

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Key Ventilators Market Trend – Expanding Ventilator Production Capabilities
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.

Ventilators Market Segment
1) By Type: Intensive Care Unit/Critical Care, Transport/Portable/Ambulatory, Neonatal
2) By End-User: Hospitals and Clinics, Home care, Ambulatory Care Centers, Other End Users
3) By Interface: Invasive, Non-Invasive

Ventilators Market Major Players and Strategies
Major players in the ventilators market are Philips Healthcare, ResMed, Medtronic, Becton, Dickinson, and Company, GE Healthcare, Hamilton Medical, Dräger, Getinge, Smiths Group, and Fisher & Paykel.

In March 2020, Masimo, a US-based medical technology company, acquired TNI Medical for an undisclosed amount. The acquisition would provide clinicians with important additional tools to manage people affected by pulmonary diseases and respiratory illnesses. TNI Medical is a German manufacturer of ventilation technologies that aid in the breathing of people suffering from pulmonary conditions.

The Ventilators Global Market Report 2023 covers regional data on ventilators market size, ventilators market trends and drivers, opportunities, strategies, and ventilators market competitor analysis. The countries covered in the ventilators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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.

View More Reports Related To The Ventilators Market –
Mechanical Ventilator Global Market Report 2023
Respiratory Disposables Global Market Report 2023
Hospital Supplies Global Market Report 2023

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