Global Mechanical Ventilator Market Size to Reach USD 4.68 Billion in 2032 | Emergen Research

Increasing prevalence of respiratory diseases is one of the major factors driving mechanical ventilator market revenue growth

Vancouver, Sept. 04, 2023 (GLOBE NEWSWIRE) — The 2022 figures indicate that the worldwide market size for mechanical ventilators stood at approximately USD 2.91 Billion. Projections based on the latest analysis by Emergen Research foresee a Compound Annual Growth Rate (CAGR) of 4.9% in revenue throughout the forecast period. Key drivers behind this growth include the escalating prevalence of respiratory conditions, augmented investments and funding dedicated to the development of these devices, as well as notable advancements in mechanical ventilation technology.

Mechanical ventilators come in various configurations to cater to different needs. These include fixed units designed for Intensive Care Units (ICUs), mobile units for patient transport, home-use components, invasive models involving endotracheal intubation, and Non-Invasive Ventilation (NIV) units with diverse face mask options. Some advanced ventilators even permit medical professionals to perform Cardiopulmonary Resuscitation (CPR) without disconnecting the device. Moreover, these ventilators offer clinicians a broader array of settings, choices, and tools to ensure protective lung ventilation strategies.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2210

Market leaders are introducing new ventilator models with innovative features like trans-pulmonary pressure monitoring, lung recruitment mechanisms with tools to determine optimal Positive End-Expiratory Pressure (PEEP), Safe Window features, Cuff Pressure Management, as well as monitoring for EtCO2 & SPO2 levels. Such advancements are contributing to the market’s revenue growth. The rising incidence of respiratory disorders is a key factor boosting the sector’s revenue. Over the past three decades, chronic respiratory conditions have surged by 40%, as reported by the NCD Alliance. Respiratory infections, exemplified by the COVID-19 pandemic, have escalated the demand for mechanical ventilation.

The rapid pace of technological advancements in ventilator technology stands out as a significant industry trend poised to propel revenue growth. Mechanical ventilation is a swiftly evolving field, exemplified by innovations like 3D-printed ventilators. This technology, which gained prominence during the COVID-19 crisis, facilitates customized ventilator assistance that adapts to each patient’s unique requirements. These innovations minimize the need for invasive procedures, enhancing patient comfort and security.

A notable challenge hindering market revenue growth is the increasing number of product recalls by regulatory agencies. The year 2022 witnessed a mix of developments, including recall notices, safety concerns, and improvements in ventilation devices. For instance, on August 30, 2022, Hamilton Medical AG recalled the Hamilton C6 ventilator due to hardware issues reported by customers involving the status indication board. This ventilator is used for both invasive and noninvasive ventilation across different patient groups. The FDA highlighted that the status indicator board of the Hamilton C6 ventilator could detach and allow fluid ingress between the status board and the main ventilator board. These factors have acted as a restraint on the market’s revenue growth.

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2210

Scope of Research

Major Companies and Competitive Landscape

The global mechanical ventilator market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective mechanical ventilator solutions. Some major players included in the global mechanical ventilator market report are:

• Medtronic
• Getinge AB.
• Boston Scientific Corporation
• Hamilton Medical
• Becton, Dickinson and Company
• Koninklijke Philips N.V.
• GE Healthcare
• Drägerwerk AG & Co. KGaA
• ZOLL Medical Corporation.
• Fisher & Paykel Healthcare Limited.

Strategic Development

• On 8 April 2020, Royal Philips, a global pioneer in health technology, announced a collaboration with the U.S. government to enhance hospital ventilator production at its U.S. manufacturing plants. Philips intends to treble production by May 2020 and quadruple it by the third quarter of 2020 for supply to the U.S. and global markets. These ventilators are crucial for treating individuals infected with the novel COVID-19. Philips will invest tens of millions of dollars in its ventilator production facilities in the United States.
• On 18 May 2021, CorVent Medical, a private medtech company dedicated to developing adaptable, lifesaving ventilators for critical care, announced that its RESPOND-19TM Ventilator has obtained CE Mark clearance and is ready to begin commercial use in Europe. The revolutionary method is intended to provide hospitals with an easy-to-use, flexible augmentation of critical care breathing capacity, allowing them to better treat critically sick patients suffering from Acute Respiratory Distress Syndrome (ARDS).

Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2210

Some Key Highlights From the Report

• The intensive care unit/critical care segment accounted for largest revenue share in 2022. One of the most often used procedures in the intensive care unit is mechanical ventilation. The first 24 hours after being admitted to the ICU, more than half of the patients, those with acute respiratory failure, weakened lung function, breathing difficulties, or failure to protect their airways, are ventilated. The main strategy used to support organ function in patients hospitalized in Intensive Care Units (ICU) is mechanical ventilation. In an Intensive Care Unit (ICU) in the U.S., more than 1 million patients each year need Mechanical Ventilation (MV). Patients receiving MV are advised to avoid sedation as much as possible and to take a symptom-based, analgesia-first strategy. As these recommendations are increasingly widely used, mechanically ventilated patients will be more frequently alert and talkative, aware of their surroundings, and able to communicate their symptoms. Long-term reliance on mechanical breathing is a growing health concern, particularly following a serious illness. Nearly 40% of patients who enter the Intensive Care Unit (ICU) require mechanical ventilation, and 20% of these patients are projected to require longer stays in the ICU because of difficulty with weaning, which contributes to revenue growth of this segment.
• The hospitals & clinics segment is expected to register a steady revenue CAGR during the forecast period. Nurses’ knowledge of mechanical ventilators and competent nursing care for ventilated patients are critical in improving effectiveness of mechanical ventilation, minimizing harm, and optimizing patient outcomes, which is driving revenue growth of the hospitals segment. Around 40% of patients admitted to the Intensive Care Unit (ICU) require mechanical ventilation, and 20% of these patients are likely to spend longer in the ICU. In such hospitals and clinics, these patients are treated by a specialist team within the ICU directed by a pulmonologist who makes decisions and writes orders. While a focus on the lungs is important when treating ventilated patients, future care models should consider a multidisciplinary approach with respiratory therapists leading patient treatment alongside a dedicated team of physical therapists, occupational therapists, speech pathologists, acute care trained nurses, and dedicated case managers. This allows for more time spent with the patient, allowing for earlier mobility and improved rehabilitation chances. These are major factors that are contributing to revenue growth of this segment.
• The market in North America accounted for a significantly large revenue share in 2022 This is attributed to growing number of clinical trial studies in the field of mechanical ventilators, as well as key strategic initiatives and partnerships between major market companies developing mechanical ventilators, especially in the U.S., which has resulted in continued growth of this industry. During the Coronavirus Disease 2019 (COVID-19) outbreak, the FDA acknowledged that the demand for ventilators, ventilator accessories, and other respiratory devices outstrips the supply available to healthcare facilities. On March 22, 2020, the FDA released an immediately effective guidance describing a policy aimed at increasing the availability of ventilators and their accessories, as well as other breathing devices, during the COVID-19 pandemic, which has resulted in the continued growth of this industry.

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/mechanical-ventilator-market

Emergen Research has segmented the global mechanical ventilator market on the basis of product type, ventilation mode, end-use, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)

• • Intensive Care Unit/Critical Care
  • Transport/Portable/Ambulatory
  • Neonatal Care

• Ventilation Mode Outlook (Revenue, USD Billion; 2019-2032)

• • Noninvasive
  • Invasive

• End-Use Outlook (Revenue, USD Billion; 2019-2032)

• • Hospitals & Clinics
  • Home Care Settings
  • Ambulatory Surgical Centers

• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

Curated Reports You Shouldn’t Miss: Dive In Now!

Cardiac Monitors Market, By Product Type (Holter Monitors, Event Monitors, and Others), By Modality (Wired Monitors and Wireless Monitors), By Application (Arrhythmia, Heart Failure, and Others), By End-Use, By Region Forecast to 2032

Bone Grafting Market, By Type (Allografts and Synthetic), By Application (Spinal Fusion, Dental Bone Grafting, Joint Reconstruction, and Others), By End-Use (Hospitals, Specialty Clinics, Others), and By Region Forecast to 2032

Spine Robotics Market, By Product Type (Robotic System, and Instruments and Accessories), By Application (Spinal Fusion and Spinal Decompression), By End-use [Hospitals, Ambulatory Surgical Centers (ASCs)], and By Region Forecast to 2032
Vascular Imaging Market, By Techniques [Magnetic Resonance Imaging (MRI), Computed Tomography (CT), and Others], By Procedure (Coronary Angiography, Peripheral Angiography, and Others), and By Region Forecast to 2032
Ventricular Assist Devices Market, By Product Type [Left Ventricular Assist Devices (LVADs), Right Ventricular Assist Devices (LVADs), and Others], By Design, By Application, By Age (Adults and Pediatrics), and By Region Forecast to 2032
Sleep Economy or Sleep Aids Market, By Product Type (Sleep Products, Sleep Technology, and Others), By Sleep Disorder (Insomnia, Sleep Apnea, and Others), By Distribution Channel, and By Region Forecast to 2032
Vascular Graft Market By Raw Material (Polyester Grafts, ePTFE, Polyurethane Grafts, Biosynthetic Grafts), By Indication (Endovascular Aneurysm Repair, Peripheral Vascular, Hemodialysis Access), By End-use, and By Region Forecast to 2032
Vascular Access Device Market, By Type (Central Vascular Access Devices, Peripheral Vascular Access Devices, and Accessories), By Application, By End-use, and By Region Forecast to 2032

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: https://www.emergenresearch.com/

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights

Read our Press Release @ https://www.emergenresearch.com/press-release/global-mechanical-ventilator-market