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The Ventilators Market to Reach $2.56 Billion by 2029, Tremendous Growth Opportunities for Existing Vendors & New Entrants – Exclusive Focus Insight Report by Arizton

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Published 08 May 2024

According to Arizton’s latest research report, the global ventilators market is growing at a CAGR of 6.50% from 2023 to 2029.

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Ventilators are vital to healthcare services, from hospitals to ambulatory healthcare services and homecare settings. The changing healthcare services in emerging markets and significant achieved development with developed countries consistently drive the ventilator market growth.

There are some other conditions, such as acute respiratory distress syndrome, asthma, cardiac arrest, pneumonia, collapsed lung, stroke, coma, drug overdose, hypercapnic respiratory failure, lung infection, myasthenia gravis, sepsis, an infection in the blood, upper spinal cord injuries, premature lung development (in babies) that will drive the market consistently in the upcoming period.

In 2023, North America emerged as the dominant player in the global ventilators market. Within North America, the United States stands out with the highest per capita healthcare expenditure, which has fueled the adoption of ventilators in homecare settings and driven significant demand. However, this high healthcare expenditure has also contributed to the complexity of the healthcare system in the US.

The market's growth in North America is further propelled by technological advancements in ventilators, leading to the continuous introduction of new products. Additionally, factors such as the increasing geriatric population, prevalence of chronic diseases like cardiovascular diseases and diabetes, rising surgical procedures, and demand for emergency healthcare services have all contributed to the growing application of ventilators in the region.

North America's ventilators market is highly competitive, with several prominent players striving to maintain their foothold by introducing new products to meet the rising demand. Key vendors in this market include Hamilton Medical, Koninklijke Philips, GE Healthcare, Medtronic, and Resmed. These companies are implementing various strategies such as mergers, acquisitions, partnerships, and collaborations with key vendors to expand their distribution networks. This is anticipated to drive market growth further during the forecast period.

For example, in 2022, ICU Medical's acquisition of Smith plc aimed to bolster ICU Medical's product line, including infusion therapy and ventilators, reflecting a strategic move to support market expansion and meet growing demand.

Competitive Overview

·        Many emerging med-tech companies pose a considerable threat to global players due to their innovative products and technologies. The market offers tremendous growth opportunities for both existing players and new entrants, which is attributable to a considerably large target patient population with COPD conditions.

·        Most prominent players in the market focus on implementing various strategies, such as new product launches and approvals, marketing and promotional activities, acquisitions, R&D initiatives, and strengthened distribution networks to enhance their revenue share and presence in the market.

·        Further, there has been an unprecedented surge in demand for ventilators since the COVID-19 outbreak. With the sudden surge in demand for ventilators, both global and domestic vendors are ramping up their production capabilities to meet the rising demand. Many vendors worldwide have increased their production capacities for ventilators by 50% to 200%.

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Product Segmentation & Forecast

  • Interface
  • Invasive
  • Non-Invasive
  • Mobility
  • Standalone/Standard Ventilators
  • Portable Ventilators
  • Patient Group
  • Adults
  • Pediatrics/Neonates
  • Application
  • Critical Care
  • Emergency Care
  • Homecare
  • Neonatal Care
  • End-users
  • Hospitals
  • Homecare Settings
  • Emergency Care Providers
  • Others 

Vendors List

  • KoninKlijke Philips
  • Hamilton Medical
  • Resmed
  • Medtronic plc
  • Vyaire Medicals
  • GE Healthcare
  • Schiller
  • Dragerwerk
  • ICU Medicals
  • Abronn FZE
  • A.B. Industries
  • Airon
  • Acutronic Medical Systems
  • Aeonmed
  • AgVa Healthcare
  • Air Liquide
  • Axcent Medical
  • Avasarala Technologies
  • Bio-Med Devices
  • Bunnel
  • Cardinal Health
  • Delux Scientific Surgo
  • Dima Italia
  • Fritz Stephan
  • Getinge
  • Hartwell Medical
  • HEYER Medical
  • Hill-rom Services
  • Lowenstein Medical Innovation
  • Narang Medical
  • Oceanic Medical Products
  • Mindray Bio-Medical Electronics
  • Saire Engineering International Group
  • S.I.E.M
  • SI Surgical
  • Skanray Technologies
  • Tecme
  • Triton Electronic Systems
  • Ventec Life Systems

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