Ventilator Market By Type (Invasive, Non-invasive), Mobility (Intensive Care, Portable), End User (Hospitals, Ambulatory Care Center, Home Care, and Others), and Region – Industry Analysis and Forecast 2033
The global ventilator market is expected to grow from USD 4.89 billion in 2023 to USD 9.36 billion by 2033 at a CAGR of 6.72%.
Ventilator Market CAGR
2023-2033
CAGR OF
6.72%
Ventilator Market
A ventilator is a medical device used to support patients with respiratory difficulties. The device enables the patient to breathe easily by moderating respiratory rate and delivers oxygen-containing gases into the lungs. Thus, helps in boosting the hypoxia and CO2 retention levels. The recent pandemic outbreak of COVID-19 across the globe pose to have a greater impact in the ventilator market as most of the COVID-19 patients show symptoms of respiratory tract infection and are in need of prompt ventilator care. This impact of COVID-19 is anticipated to increase the overall market size, worldwide. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the market. The historic years considered for the study are 2018-2021, the base year is 2022, the estimated year is 2023, and the forecast period is 2023-2033.
Ventilator Market: Market Dynamics
The unprecedented outbreak of COVID 19 pandemic has led to a sudden drastic demand for ventilators, globally. According to the statistics, published by the Society of Critical Care Medicine, around 160,000 units of ventilators have been utilized in the US in the first quarter of 2020. Also, an increase in the prevalence of respiratory disorders such as chronic obstructive pulmonary disorder (COPD), bronchial asthma, and others due to increase pollution can act as a driving force behind the growing demand of the market. In addition, the rise in the elderly population, pre-mature birth rate, and government initiative towards advancement in the healthcare sector, further propel the growth of the overall market. However, mechanical malfunctioning, lack of trained medical staff, side effects such as ventilator-associated pneumonia, high cost, lack of awareness about neonatal ventilators are some of the factors that restrain the growth of the overall market.
Ventilator Market: Segmental Analysis
Ventilator Market
By End User
Hospitals
Ambulatory Care Center
Home Care
Others
The Market will Grow
At the CAGR of:
6.72%
The Forecast Market
Size for 2033 in USD:
$9.36B
The global ventilator market is classified into type, mobility, end-user, and region. Based on type, the market is segmented into invasive and non-invasive. The invasive ventilator segment accounted for the larger market share in 2023, which is anticipated to continue with its position by the end of 2033.
Ventilator Market
By Type
XX%
Invasive
Non-invasive
4.89
Total Market Size
USD (Billion), 2023
6.72%
CAGR
2023 - 2033
Based on mobility, the market is segregated into intensive care and portable. Intensive care dominated the market in 2023, which is anticipated to continue dominating by 2033. However, the demand for low cost, user-friendly, and flexible portables also will grow at a faster pace during the forecast period. Based on end-user, the market is segmented into hospitals, ambulatory care center, home care, and others. The hospital segment dominated the market in 2023 which is anticipated to continue dominating by 2033, due to burgeoning in the geriatric and adult population.
Ventilator market: Regional Analysis
Ventilator Market
By Region
The Market will Grow
At the CAGR of:
6.72%
The Forecast Market
Size for 2033 in USD:
$9.36B
Geographically, the market is classified into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. North America is the leading market for the market and is also anticipated to be the largest revenue-generating region during the forecast period. The prevalence of respiratory diseases and rising healthcare awareness are the major factors driving the market in the region. To combat the current COVID-19 pandemic, Europe could only meet 10% of the demand. According, to the European Commission, the country is focusing on domestic production capacity and its import. This demand is expected to increase the European market share during the forecast period. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, due to the growing emerging economies such as China and India and also due to an increase in COVID-19 cases, the prevalence in chronic respiratory disorders, rising healthcare expenditure, development in infrastructure and healthcare policies.
Ventilator Market: Competition Scenario
Key players of ventilator market are Koninklijke Philips N.V, ResMed, Medtronic plc, Becton, Dickinson and Company, Getinge AB, Dragerwerk AG, Smiths Group plc, Hamilton Medical, GE Healthcare, and Air Liquide S.A.
Critical Questions Answered in the Report
• What are the key trends in the market? • How the market (and its various sub segments) has grown in last four years and what would be the growth rate in next five years? • What are the key strategies adopted by the major vendors to lead in the market? • What is the market share of the top players?
Research Methodology
The research study extensively uses both secondary and primary research methodologies. More than 200 industry leaders from various phases of the value chain (demand side, supply side, resellers/distributors, and other independent consultants) were interviewed to gain crucial insights about this market and validate the research findings. Secondary sources referred for the research study include company websites, annual reports, paid database tools, investor presentations, webinars, blogs, news/journals, whitepapers, survey papers, associations, and government websites. All the collected data and insights were then processed using our proprietary data mining software that executes various algorithms to make projections for the forecast period.
Ventilator Market Scope:
Report Data
Ventilator Market
Ventilator Market Forecast Value 2033
9.36Billion
Ventilator Market CAGR 2023 - 2033
6.72%
Ventilator Market Forecast Period
2023 - 2033
Ventilator Market Base Year
2022
Regional Scope
North America, Europe, Asia Pacific, South America, and Middle East & Africa
Key Companies Profiled
Koninklijke Philips N.V, ResMed, Medtronic plc, Becton, Dickinson and Company, Getinge AB, Dragerwerk AG, Smiths Group plc, Hamilton Medical, GE Healthcare, and Air Liquide S.A..
Key Segments
By Type Invasive Non-invasive
By Mobility Intensive Care Portable
By End User Hospitals Ambulatory Care Center Home Care Others
By Region North America Europe Asia-Pacific South America Middle-East & Africa
Report Coverage
Market Sizing, Market Forecasting, Market Dynamics, Market Trends, Market Development Analysis, Market Share Analysis, Regional Analysis, Competitive Positioning, Competitive Benchmarking, Competitive Landscape, Company Profiling, Regulation Analysis, etc.
Ventilator Market Scope:
Report Data
Ventilator Market
Ventilator Market Forecast Value 2033
9.36Billion
Ventilator Market CAGR 2023 - 2033
6.72%
Ventilator Market Forecast Period
2023 - 2033
Ventilator Market Base Year
2022
Regional Scope
North America, Europe, Asia Pacific, South America, and Middle East & Africa
Key Companies Profiled
Koninklijke Philips N.V, ResMed, Medtronic plc, Becton, Dickinson and Company, Getinge AB, Dragerwerk AG, Smiths Group plc, Hamilton Medical, GE Healthcare, and Air Liquide S.A..
Key Segments
By Type Invasive Non-invasive
By Mobility Intensive Care Portable
By End User Hospitals Ambulatory Care Center Home Care Others
By Region North America Europe Asia-Pacific South America Middle-East & Africa
Report Coverage
Market Sizing, Market Forecasting, Market Dynamics, Market Trends, Market Development Analysis, Market Share Analysis, Regional Analysis, Competitive Positioning, Competitive Benchmarking, Competitive Landscape, Company Profiling, Regulation Analysis, etc.
The Research Intellica follows an extensive research methodology that involves a blend of both primary and secondary research. Information assembly and understanding the definition of the market are one of the critical points in our research process.
Key steps required in our research process:
Information Assembling: Under this stage, market data or information is collected by going through all the various methodologies, such as paid databases, TRI’s internal databases, primary research, and secondary research.
Secondary Sources: Some of the prominent examples include annual reports, press releases & investor presentations of companies, white papers, government statistics companies such as WHO, NGOs, the World Bank, and many others, regulatory bodies, trade directories.
Primary Sources: The primary interviewees from the demand side include key opinion leaders, executives, vice presidents, and CEOs of companies. The primary sources from the supply side include associations and institutions involved in the particular industry, key opinion leaders, and processing players.
Data Analysis: Our data is the Intellica of our research, and to stand out in the market, we analyse the data with statistical tools such as regression analysis and factor analysis. Our data analytics model aids in market forecasting. Common parameters are as follows:
Macro-economic factors
Demographics
Technology & innovation
Regional Patterns
Value Chain/ Supply Chain
Market dynamics
Industry Trends
Market Estimation: Both, bottom-up and top-down approaches were used to estimate and validate the size of the global market. The key players in the industry and markets were identified through extensive secondary research. The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders, such as directors and marketing executives.
Bottom-Up Approach:
Top-down Approach:
Market Breakdown & Data Triangulation:
In order to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments, the data triangulation and market breakdown procedures were employed wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides. Along with this, the market size was validated by using both, the top-down and bottom-up approaches.
Market Stakeholders:
Raw Material Suppliers
Manufacturers
System Integrators
Distributors
End-users
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