ventilators Market

The ventilators market is expected to grow from US$ 4,617.00 million in 2021 to US$ 9,098.32 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2022 to 2028.

The market growth is attributed to the growing prevalence of respiratory diseases and rapid growth in geriatric population. However, the complications associated with the use of ventilators restrain the market growth.

The rise in life expectancy is increasing the geriatric population. According to the World Health Organization (WHO), people aged 60 and above is likely to grow from 12% in 2015 to 22% by 2050. This rise in the geriatric population has led to an increase in geriatric ailments, leading to a greater requirement for intensive care, which includes mechanical ventilation. Elderly patients are progressively opting for intensive care unit (ICU) treatment with mechanical ventilation (MV). Non-invasive ventilation (NIV) is a better alternative for elderly patients admitted to hospitals for the treatment of respiratory diseases. According to one of the studies published in Medicina Intensiva, the journal of the Spanish Society of Intensive and Critical Care Medicine and Coronary Units (SEMICIUC), patients aged 75 and above exhibit significantly greater in-ICU mechanical ventilation requirements. In addition, aging is the main factor that contributes to the increase in the prevalence of chronic-degenerative disease cases; in a few cases, aging-related issues lead to the need for interventions that require admission to ICUs. Thus, rapid growth in the geriatric population is boosting the need for ventilatory support, which is fueling the global ventilators market growth.

Growing Demand for Portable and Compact Ventilators with Enhanced Functionalities to Fuel Market Growth in Coming Years

The introduction of portable ventilators is a major technological advancement in ventilators. These ventilators improve critical care transports by reducing transport-related adverse events, thereby ensuring that the patients arrive safely at the destination; providing control over tidal volume and respiratory rate; monitoring time for medical treatments, drugs, surgery, and procedures; monitor oxygen levels; and allowing rescue teams to address the needs of other patients. A portable ventilator is a lightweight, robust device that consists of oxygen and battery supplies. It requires minimal maintenance. These ventilators are inexpensive, simple to operate, and provide a range of useful ventilatory modes. List of situations in which these ventilators are used is given below.

• primary transfer-from an accident scene
• secondary transfer-between healthcare facilities
• domiciliary ventilation
• improvised intensive care facilities, for example, military field hospitals and civilian contingency planning.

The newest MRI portable ventilators claim to display significant performance improvements with regard to operational accuracy, as well as additional features such as an integrated gaussmeter, superior monitoring capabilities, and advanced modes.

Mobility-Based Insights

Based on mobility, the ventilators market is bifurcated into intensive care ventilators and portable/transportable ventilators. The intensive care ventilators segment held a larger market share in 2021. The portable/transportable ventilators segment will likely grow at a higher CAGR during the forecast period.

Clinical Indication-Based Insights

Based on clinical indication, the ventilators market is segmented into medical, trauma, neurological, surgical, and others. The medical segment accounted for the largest market share in 2021; however, the neurological segment is expected to register the highest CAGR of 12.1% during the forecast period.

Patients-Based Insights

Based on patients, the ventilators market is segmented into adult and pediatric & neonatal. The adult segment accounted for a larger market share in 2021, and it is expected to register a higher CAGR of 9.4% during the forecast period.

Mode-Based Insights

Based on mode, the ventilators market is segmented into combined mode ventilation, volume mode ventilation, pressure mode ventilation, neurally adjusted ventilatory assists (NAVA), inverse ratio ventilation (IRV), prone ventilation, high-frequency oscillatory ventilation (HFOV), high-frequency percussive ventilation (HFPV), and others. The combined mode ventilation segment accounted for the largest market share in 2021, and it is expected to register the highest CAGR of 10.2% during the forecast period.

Interface-Based Insights

Based on interface, the ventilators market is bifurcated into invasive and non-invasive. The invasive segment accounted for a larger market share in 2021; however, the non-invasive segment is expected to register a higher CAGR of 9.6% during the forecast period.

End User-Based Insights

Based on end user, the ventilators market is segmented into hospitals & clinics, home care, ambulatory care centers, and emergency medical services (EMS). The hospitals & clinics segment accounted for the largest market share in 2021, and it is expected to register the highest CAGR of 9.5% during the forecast period.

The World Health Organization (WHO), The Organization for Economic Cooperation and Development (OECD), the National Health Interview Survey (NHIS), the Centers for Disease Control and Prevention (CDC), the Global Cancer Observatory, the National Health Survey, Department of Emergency Medicine are a few of the major primary and secondary sources referred to while preparing the report on the ventilators market.