Press Releases Details
The Ventilators Market was valued at USD 4.8 billion in 2023-e, and is projected to grow at a CAGR of 7.5% through 2030 to reach USD 7.9 billion. The surge in respiratory diseases, driven by pollution and a growing geriatric population, has led to an escalating demand for critical care equipment. Swift technological advancements are playing a pivotal role in addressing this surge, with innovative solutions required to meet the healthcare needs of an aging demographic. This confluence of factors highlights the pressing need for comprehensive solutions to combat the increasing prevalence of respiratory conditions and improve overall patient care.
The ventilator industry is experiencing a profound transformation driven by artificial intelligence (AI), reshaping patient care. The integration of AI into ventilators is revolutionizing respiratory support by significantly improving monitoring precision. This innovation enables personalized treatment strategies, ultimately enhancing the overall efficiency and effectiveness of ventilator systems in healthcare.
In 2023, the invasive ventilators segment held the majority of the share. These ventilators find extensive use in managing acute exacerbations of COPD, impacting factors such as hospital stay, instances of hospital-acquired pneumonia, and mortality rates. It enables effective respiratory support for individuals with hypoxemic and hypercapnic respiratory failure, facilitating the application of lung-protective ventilation.
The growth of homecare settings is a notable trend, reflecting a shift toward decentralized healthcare. This expansion is driven by advancements in medical technology, including portable and user-friendly ventilators. The increasing recognition of the benefits of home-based care, coupled with the demand for personalized and convenient healthcare solutions, contributes to the rising prominence of homecare settings. This trend signifies a transformative approach to patient care, allowing individuals to receive necessary medical support within the comfort of their homes.
North America region is anticipated to register high growth throughout the forecast. The growth of the North American market can be attributed to several factors, including the strong presence of major industry players in the region. Additionally, continual advancements, including the creation of increasingly portable devices, are enhancing the attractiveness of these machines for healthcare providers.
The ventilators market is characterized by the presence of various small and big players. The major market player includes ventilators market are ABM Respiratory Care, Airon, Baxter International, Bio-Medical Electronics, Drägerwerk, GE Healthcare, Getinge AB, Hamilton Medical, ICU Medical, Philips, Medtronic, Metran, Shenzhen Mindray, Vyaire Medical, amongst others.
In a competitive market landscape, players are swiftly embracing advanced technologies to enhance ventilators operations and bolster their competitive stance through strategic initiatives, including mergers, acquisitions, and the introduction of new products. For instance, In June 2021, Vyaire Medical collaborated with GenWorks. This collaboration aims to enhance pulmonary care in India, addressing the potential long-term impacts on lung health associated with the virus.
TRENDING REPORTS