The Europe ventilator market is expected to reach US$ 2,072.98 million in 2027 from US$ 678.17 million in 2019. The market is estimated to grow with a CAGR of 12.5% from 2020 to 2027. The growth of the Europe ventilator market is driven by increasing number of medical devices manufacturers and exponentially rising number of the COVID-19 patients across the region. However, the adverse physiological effects of ventilators on human body are expected to hinder market’s growth to a certain extent during the forecast period.
Ventilator is an automatic breathing system that transfers breathable air into and out of the lungs to provide oxygen to a patient who is breathing insufficiently. The unit performs by adding oxygen to the bloodstream and removing carbon dioxide from the bloodstream. The device helps a patient suffering from respiratory problems get the right quantity of oxygen. It also helps patient's body to heal since it eliminates the extra energy of labored breathing.
Acording to a report by global data, germany has the largest medical device industry in Europe and it is also accounted to be the third largest industry in the world. For instance, Germany comprises highest number of employees working in the medical device industry , and in 2017, Germany had more than 200,000 employees working in medical technology. Most of the medical device companies are based in Germany. For instance, DIXION is a German manufacturer and an international trading company that offers ventilators suitable for infants, children, and adults. Similarly, Drägerwerk AG & Co. KGaA, a German company, is an international leader in the fields of medical and safety technology since 1889. In the COVID-19 pandemic, the company is witnessing growing demand for its ventilators. Also, France has the second-largest medical device industry in Europe. Several factors allow France to maintain its position in the medical device industry. For instance, in 2019, the Export.gov stated that the medical device market in France is growing rapidly, and the market was estimated to be US$ 40.4 billion, including US$ 14 billion imports. Rising medical device industry in Europe is likely to have a positive impact on the growth of Europe ventilator market.
European countries are profoundly affected due to the COVID-19 pandemic. Italy, Spain, and France have reported the highest number of the COVID-19 positive cases and registered the maximum number of deaths. For instance, according to the European Centre for Disease Prevention and Control, approx. 203,542 deaths, caused by the COVID–19, were registered on July 2020. Various companies have undergone severe losses in the last quarter of 2019, and have experienced the negative impact on business in 2020 also. To control the spread of the COVID-19, governments of European countries have imposed complete lockdown. The lockdown has affected economies due to closed trades and business.
Based on mobility, the Europe ventilator market is further bifurcated into intensive care ventilators and portable/transportable ventilators. The intensive care ventilators segment held a larger share of the market in 2019, whereas the portable/transportable ventilators segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on type, the Europe ventilator market is further bifurcated into adult/pediatric ventilator and neonatal/infant. The adult/pediatric ventilator segment held a larger share of the market in 2019, whereas the same segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on interface, the Europe ventilator market is further bifurcated into invasive ventilator and non-invasive ventilator. The invasive ventilator segment held a larger share of the market in 2019, whereas the non-invasive ventilator segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on mode, the Europe ventilator market is further segmented into combined mode ventilation, volume mode ventilation, pressure mode ventilation, neurally adjusted ventilatory assist (NAVA), inverse ratio ventilation (IRV), prone ventilation, high-frequency oscillatory ventilation (HFOV), high-frequency percussive ventilation (HFPV), and others. The combined mode ventilation segment held the largest share of the market in 2019, also the same segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on end user, the Europe ventilator market is further segmented into hospitals and clinics, home care, ambulatory care centers, and emergency medical services. The hospitals and clinics segment held the largest share of the market in 2019. Moreover, the same segment is estimated to register the highest CAGR in the market during the forecast period.
A few major primary and secondary sources included in the Europe ventilators market report are National Health Service (UK), Worldometers, and others.