Mechanical Ventilator Market Analysis, Revenue Share, Company Profiles, Launches, & Forecast Till 2030
Posted by sneha j on July 13th, 2022
Mechanical ventilator is a machine that helps patients breathe when they are having surgery or cannot breathe on their own due to a critical illness. Patients are connected to the ventilator with a hollow tube (artificial airway) that goes in their mouth and down in their main airway or trachea. Mechanical ventilator is majorly classified as intensive care and portable mechanical ventilator.
List of Key Players
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On the contrary, the global mechanical ventilator market is currently witnessing surge in demand for ventilators across the world, owing to rise in number of cases of COVID-19. In this health condition, oxygen levels drop as the virus attacks lungs of patients, thus resulting in breathlessness.
Hence, the need for external support for breathing such as mechanical ventilator market is anticipated to strengthen the growth of the global market. Consequently, rise in number of COVID-19 patients have propelled market players to double the production of mechanical ventilators, which is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The global mechanical ventilator market is segmented into component, product type, mode, end user, age group, and region. By mode, the invasive ventilation segment occupied the largest share in 2020, and is anticipated to continue its dominance during the forecast period. On the basis of product type, the intensive care mechanical ventilators segment dominated the market in 2020, owing to increase in number of hospital admission of patients due to COVID-19 pandemic. However, the transport/portable ventilators segment is projected to grow with the highest CAGR of 13.64% from 2021 to 2030. This is attributed to rise in demand for transport ventilators during emergencies and surge in adoption of easy-to-use portable mechanical ventilators for ease of aged patient population.
Depending on age group, in 2020, the adult population was the highest revenue generator, owing to rise in adult population who are highly susceptible to chronic respiratory diseases. However, the pediatric & neonatal segment is estimated to register fastest CAGR of 12.6% during the forecast period, owing to rise in prevalence of neonatal mortality and need for convenient ventilation facilities for newborn and premature babies.
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About the Authorsneha j
Joined: July 12th, 2022
Articles Posted: 104
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