Growth in this "Ventilators Market by Mobility (Intensive Care, Portable), Type, Mode (Volume, Pressure, Combined), Interface (Invasive, Non-invasive), End-User (Hospital, Home Care, ACC, Emergency Medical Services) Covid-19 Impact - Global Forecast to 2025" is driven by the outbreak of the covid-19 pandemic, high prevalence of respiratory diseases, rapid growth in the geriatric population, increasing number of preterm births, and the rising number of ICU beds.
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Based on mobility, the market for ventilators is segmented into intensive care ventilators and portable/transportable ventilators. The intensive care ventilators segmented is estimated to be USD 5.5 billion in 2020. It is expected to grow at AGR of 535.4% from 2019 to 2020.The intensive care ventilators segment is projected to witness the highest growth in the ventilators market during the forecast period. Growth in this segment is attributed due to the rising number of intensive care beds equipped with ventilators. The increasing ICU admission due to COVID-19 and readmissions in developed countries coupled with appropriate reimbursement is also responsible for the growth of the ICU ventilators segment. The ICU ventilators segment is further sub-segmented into high-end ICU ventilators, mid-end ICU ventilators, and basic ICU ventilators.
Based on type, the market for ventilators is segmented into adult/pediatric ventilators and neonatal/infant ventilators. The adult/pediatric ventilators segment accounted for the largest share of the market in 2019. The large share of this segment is largely driven by the large adult population suffering from COVID-19, chronic diseases such as COPD & asthma, the high prevalence of smoking, and the rising geriatric population.
Based on the interface, the market for ventilators is segmented into invasive ventilation and non-invasive ventilation segment. The invasive ventilation segment is projected to witness the highest growth in the ventilators market during the forecast period. Growth in the invasive ventilation market can be attributed to increasing severity in COVID-19 patients and the rising prevalence of respiratory diseases, neurological diseases, and sleeping disorders.
Based on the mode of ventilation, the ventilators market is segmented into volume-mode ventilation, pressure-mode ventilation, combined-mode ventilation, and other modes. The combined-mode ventilation segment accounted for the largest share of the ventilators market. The large share of the segment is attributed to its advantages over conventional pressure-mode ventilation and volume-mode ventilation. The ability of combined-mode ventilation to provide both modes of ventilation makes it a desirable product in the ventilators market
On the basis of end-user, the ventilators market is segmented into hospitals and clinics, home care, ambulatory care center, and emergency medical services. The emergency medical services segment is projected to witness the highest growth in the ventilators market during the forecast period. Growth in this segment is attributed to the high incidence of trauma injuries, such as road accidents and falls, sports injuries, and criminal injuries.
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North America is expected to account for the largest share of the ventilators market in 2019, followed by Europe.
The prominent players in the ventilators market are Philips Healthcare (Netherlands), ResMed Inc. (US), Medtronic plc (Ireland), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Drägerwerk AG & CO. KGAA (Germany), Nihon Kohden Corporation (Japan), Getinge AB (Sweden), Asahi Kasei Corporation (Japan), Air Liquide (France), Vyaire Medical, Inc. (US), GE Healthcare (US), Hamilton Medical (Switzerland), Smiths Group plc (UK), Allied Healthcare Products, Inc. (US).