Mechanical Ventilators Market is Projected to Expand at a CAGR of 5.5% Between 2016 - 2024

Key players in the global mechanical ventilators market include Dragerwerk AG & Co. KGaA, Philips Healthcare, GE Healthcare, Smiths Medical, Becton, Dickinson and Company, Fisher and Paykel Healthcare Limited, Getinge Group, Medtronic Plc, ResMed, and Hamilton Medical AG.

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Transparency Market Research finds that the global mechanical ventilators market is characterized by the strong presence of a number of local and regional players. These companies are just as capable as global players in efficiently catering to the changing consumer needs and entering neighboring markets. However, regulatory requirements differing from country to country tend to restrict the entry of these players in several national markets. Nevertheless, large multinational players are entering into strategic partnerships or acquiring small start-up companies in order to match the competition in local markets for mechanical ventilators.

The global market for mechanical ventilators was worth US$1.1 bn in 2015 and is poised to reach a value of US$1.8 bn by 2024, registering a 4.8% CAGR therein. In terms of volume, the mechanical ventilators market is projected to expand at a CAGR of 5.5% during the forecast period.

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By type of product, critical care mechanical ventilators contributed the most toward the global market. In terms of percentage share contribution, the segment is anticipated to account for a 48.2% share by 2024. The portable mechanical ventilators segment is expected to exhibit the strongest CAGR of 7.6% from 2016 to 2024 by value.

Based on mode, invasive mechanical ventilators presently form the leading segment of the global market. However, registering a rapid growth rate through 2024, the non-invasive mode segment is expected to reflect a gain in market share by the end of the forecast period. On the basis of end use, hospitals account for the major share in the global mechanical ventilators market in terms of revenue. Home healthcare, on the other hand, is forecast to register the highest growth rate by 2024.

From a geographical standpoint, North America is expected to account for a 39.7% share in the global mechanical ventilators market by 2024 and will continue its dominance during the forecast period. Asia Pacific is the most attractive market and is slated to expand at a CAGR of 5.5% from 2016 to 2024.

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The World Health Organization reports that more than five million deaths are reported every year owing to chronic respiratory diseases. The deteriorating quality of air, particularly in countries where the economy is largely dependent on pollution-intensive industries, is one of the chief causes of the alarming spike in the prevalence of respiratory diseases, especially chronic obstructive pulmonary disease (COPD). This translates into an increased demand for medical devices, one of which is mechanical ventilators.

“On the backdrop of the constantly growing incidence of reported respiratory diseases, the demand for mechanical ventilators in hospitals and trauma centers has increased and, in recent times, catalyzed the sales of the same,” the author of the report states.

In contrast, the shrinking profit margins of manufacturers, intensive competitive rivalry, budgetary constraints faced by small healthcare facilities, and injuries associated with the prolonged use of ventilators threaten the growth of the global mechanical ventilators market.

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Mechanical Ventilators Market will Register a CAGR of 4.8% Between 2016 to 2024

The global market for mechanical ventilators was worth US$1.1 bn in 2015 and is poised to reach a value of US$1.8 bn by 2024, registering a 4.8% CAGR therein. In terms of volume, the mechanical ventilators market is projected to expand at a CAGR of 5.5% during the forecast period.

Transparency Market Research finds that the global mechanical ventilators market is characterized by the strong presence of a number of local and regional players. These companies are just as capable as global players in efficiently catering to the changing consumer needs and entering neighboring markets. However, regulatory requirements differing from country to country tend to restrict the entry of these players in several national markets. Nevertheless, large multinational players are entering into strategic partnerships or acquiring small start-up companies in order to match the competition in local markets for mechanical ventilators.

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Non-invasive Mechanical Ventilators Gaining Preference over Invasive Variants

By type of product, critical care mechanical ventilators contributed the most toward the global market. In terms of percentage share contribution, the segment is anticipated to account for a 48.2% share by 2024. The portable mechanical ventilators segment is expected to exhibit the strongest CAGR of 7.6% from 2016 to 2024 by value.

Based on mode, invasive mechanical ventilators presently form the leading segment of the global market. However, registering a rapid growth rate through 2024, the non-invasive mode segment is expected to reflect a gain in market share by the end of the forecast period. On the basis of end use, hospitals account for the major share in the global mechanical ventilators market in terms of revenue. Home healthcare, on the other hand, is forecast to register the highest growth rate by 2024.

From a geographical standpoint, North America is expected to account for a 39.7% share in the global mechanical ventilators market by 2024 and will continue its dominance during the forecast period. Asia Pacific is the most attractive market and is slated to expand at a CAGR of 5.5% from 2016 to 2024.

Increased Demand for Mechanical Ventilators in Hospitals and Trauma Centers

The World Health Organization reports that more than five million deaths are reported every year owing to chronic respiratory diseases. The deteriorating quality of air, particularly in countries where the economy is largely dependent on pollution-intensive industries, is one of the chief causes of the alarming spike in the prevalence of respiratory diseases, especially chronic obstructive pulmonary disease (COPD). This translates into an increased demand for medical devices, one of which is mechanical ventilators.

“On the backdrop of the constantly growing incidence of reported respiratory diseases, the demand for mechanical ventilators in hospitals and trauma centers has increased and, in recent times, catalyzed the sales of the same,” the author of the report states.

In contrast, the shrinking profit margins of manufacturers, intensive competitive rivalry, budgetary constraints faced by small healthcare facilities, and injuries associated with the prolonged use of ventilators threaten the growth of the global mechanical ventilators market.

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Key players in the global mechanical ventilators market include Dragerwerk AG & Co. KGaA, Philips Healthcare, GE Healthcare, Smiths Medical, Becton, Dickinson and Company, Fisher and Paykel Healthcare Limited, Getinge Group, Medtronic Plc, ResMed, and Hamilton Medical AG.

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Mechanical Ventilators Market is Propelled by Rise in Prevalence of Respiratory Diseases

Mechanical Ventilators Market: Scope of the Study

This report provides forecast and analysis of the mechanical ventilators market on the global and regional levels. It provides historical data of 2015 along with forecast from 2016 to 2024 in terms of revenue (US$ Mn) and volume (units). The report also includes macroeconomic indicators along with an outlook on mechanical ventilators sales globally. It includes drivers and restraints of the mechanical ventilators market and their impact on each region during the forecast period. The report also comprises the study of current issues with end users and opportunities for ventilator manufacturers. It also includes detailed pricing analysis by product type and value chain analysis with a list of vendors and industry stakeholders at each node in the value chain.

This exhaustive report includes 24 data tables and 106 figures to give readers a 360° view of the Mechanical Ventilators Market market. Browse through this 183-page report to know what factors will shape the market by 2024: http://www.transparencymarketresearch.com/cartilage-degeneration-market.html

In order to provide users of this report with a comprehensive view of the market, we have included detailed competitiveness analysis and company players with unique selling propositions. The dashboard provides a comprehensive comparison of ventilator manufacturers on parameters such as collective market share and geographic concentration. The study encompasses market attractiveness analysis by product type, by mode, by end users and region.

Mechanical Ventilators Market: Segmentation

The report includes revenue generated from sales of mechanical ventilators in all regions and important countries in these regions. By product, the global mechanical ventilators market has been segmented into critical care mechanical ventilators, neonatal intensive care mechanical ventilators, portable mechanical ventilators, and transport mechanical ventilators. By mode, the market is segmented into invasive mechanical ventilators and non-invasive mechanical ventilators. On the basis of end users, the global mechanical ventilators market is segmented into hospitals, trauma centers, home healthcare and others. And on the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.

Mechanical Ventilators Market: Research Methodology

Market numbers have been estimated based on average sales and average pricing of mechanical ventilators by product type and the revenue is derived from regional pricing trends. Market size and forecast for each segment have been provided in the context of global and regional markets. The mechanical ventilators market has been analyzed based on expected demand. Prices considered for the calculation of revenue are regional average prices obtained through primary quotes from numerous regional ventilator manufacturers and distributors. All key end users have been reviewed, and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents. Regional demand patterns have been considered while estimating the market for various end users of mechanical ventilators in different regions. Top-down approach has been used to assess the mechanical ventilators market by region. Market numbers for global product and mode segments have been derived using the bottom-up approach, which is cumulative of each region’s demand. The company-level market share has been derived on the basis of revenues reported by key manufacturers. The market has been forecast based on constant currency rates.

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Several primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, NCBI, Google Books, company annual reports, websites, and publications.

The report provides detailed competitive and company profiles of key participants operating in the global market. Key players in the global mechanical ventilators include Dragerwerk AG & Co. KGaA, Philips Healthcare, GE Healthcare, Smiths Medical, Becton, Dickinson and Company, Fisher and Paykel Healthcare Limited, Getinge Group, Medtronic Plc, ResMed, and Hamilton Medical AG.

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Mechanical Ventilators Market is Poised to Reach US$1.8 Bn by 2024 Registering a 4.8% CAGR Therein

Mechanical Ventilators Market: Snapshot

The global mechanical ventilators market is expected to witness steady growth during the course of the forecast period, chiefly because of rapid technological innovations in the design and portability of the devices. The growing practice of cost deviation on the part of hospitals by transferring long-term ventilated patients to home care settings is one of the major reasons driving the demand for portable and transport mechanical ventilators globally. The global market for mechanical ventilators was worth US$1.1 bn in 2015 and is poised to reach a value of US$1.8 bn by 2024, registering a 4.8% CAGR therein. In terms of volume, the mechanical ventilators market is projected to expand at a CAGR of 5.5% during the forecast period.

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Continuous and intensive research in the field of mechanical ventilators and a rise in research-related co-operation among clinical researchers and market players have demonstrated the importance of the technical efficiency of mechanical ventilators and their significance in healthcare.

Ventilator manufacturers and assemblers in emerging economies are increasingly working toward developing new and low-cost ventilators to cater to local needs and bring about a level of flexibility in patient care.

Critical Care Mechanical Ventilators Account for Significant Share in Global Market

The global mechanical ventilator market is segmented on the basis of product type into critical care mechanical ventilators, neonatal intensive care mechanical ventilators, portable mechanical ventilators, and transport mechanical ventilators. Critical care mechanical ventilators account for a significant share in the total mechanical ventilators market in terms of value and volume. However, the portable and transport mechanical ventilators segments are projected to exhibit a high growth rate over the forecast period.

The rising incidence of medical emergencies, the need for patient treatment flexibility, and the growing need to manage critical patients from the point of emergency till the point of treatment are the key factors driving the transport mechanical ventilators segment.

Studies have shown that patients on ventilator support are technically not considered to be a financial benefit for hospital administration, which propels hospitals to transfer such patients from hospital settings to alternate care settings. With ventilators becoming portable and more efficient in various settings, the use of portable and transport ventilators is slated to rise.

On the basis of mode, the global mechanical ventilators market is segmented into invasive and non-invasive mechanical ventilators. Based on end users, the global market is categorized into hospitals, trauma centers, home healthcare, and others, which includes ambulances, army choppers, and air ambulances.

Favorable Reimbursement Policies Positively Influencing Mechanical Ventilators Market in Developed Regions

Geographically, North America and Europe have been leading the global mechanical ventilators market. The high incidence of respiratory disorders, the implementation of advanced reimbursement policies, the increased level of healthcare awareness, and a strong demand for improved advanced healthcare solutions are some of the prominent factors driving the mechanical ventilators market in these regions.

On the other hand, an increase in per capita income, an improvement in healthcare infrastructure, and a rise in patient awareness about the availability of advanced ventilation solutions promise rapid growth of the mechanical ventilators markets in Asia Pacific, Latin America, and the Middle East and Africa.

The Asia Pacific market is immensely lucrative and is expected to showcase high growth rates over the course of the forecast period. This rapid growth can be attributed to factors such as the rise in awareness about general healthcare, an increase in medical expenditure, a rise in per capita income, and the development of healthcare infrastructure in emerging economies such as India, China, Japan, and Thailand.

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Key players in the global mechanical ventilators market include Dragerwerk AG & Co. KGaA, Philips Healthcare, GE Healthcare, Smiths Medical, Becton, Dickinson and Company, Fisher and Paykel Healthcare Limited, Getinge Group, Medtronic Plc, ResMed, and Hamilton Medical AG. Transparency Market Research notes that the presence of various regional ventilator manufacturers capable of understanding local market needs threatens the dominance of multinational market players in some regions.

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