Koninklijke Philips N.V. and ResMed are the Prominent Players in the Ventilators Market
Posted by snehal shaha on September 26th, 2022
A ventilator, breathing machine, or respirator is a machine that assists with breathing. It is mainly used in hospitals to treat chronic obstructive pulmonary disease (COPD), sleep apnea, acute lung injury, and hypoxemia. Over the years, the ventilators market has evolved significantly due to technological advancements, such as developing advanced portable ventilators and improvements in the sensor technologies used in ventilators. The increasing number of preterm births, rapid growth in the geriatric population, rising prevalence of respiratory diseases, rising number of ICU beds, and rising number of COVID-19 patients are expected to drive growth in the ventilators market during the forecast period. The emergence of home healthcare has opened new avenues for the ventilators market. Convenience and comfort in the home care environment, coupled with cost advantages, are the other major factors driving growth in the home healthcare market for ventilators.
The Ventilators market is projected to reach USD 1.9 billion in 2026 from USD 1.4 billion in 2021, at a CAGR of 7.6% during the forecast period.
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The global ventilators market are Koninklijke Philips N.V. (Netherlands), ResMed (US), Medtronic (Ireland), Fisher & Paykel Healthcare Limited (New Zealand), Drägerwerk AG & CO. KGAA (Germany), Nihon Kohden Corporation (Japan), Getinge AB (Sweden), Asahi Kasei Corporation (Japan), Air Liquide (France), Vyaire Medical, Inc. (US), GE Healthcare (US), Hamilton Medical (Switzerland), Smiths Group plc (UK), Allied Healthcare Products, Inc. (US), Shenzhen Mindray Bio-Medical Electronics Co., Ltd, (China), aXcent Medical GmbH (Germany), Metran Co., Ltd (Japan), MAGNAMED (Brazil), Avasarala Technologies Ltd (India), Airon Corporation (Florida), TRITON Electronic Systems Ltd. (Russia), Bio-Med Devices, Inc. (US), Hill-Rom Holdings, Inc. (US), HEYER Medical AG (Germany), and Leistung Engineering Pvt. Ltd. (Argentina). These companies adopted strategies such as acquisitions, partnerships, expansions, and product launches to enhance their presence in the ventilators market.
Koninklijke Philips N.V. is a leading provider of medical tools for different healthcare specialties. Philips Respironics, a subsidiary of Philips Healthcare, primarily focuses on providing respiratory care devices. Philips Healthcare has a significant global footprint owing to its strong sales and distribution network. It significantly invests in R&D activities to add innovative technologies and products to its portfolio, which has helped it strengthen its presence in the market. For instance, the R&D expenditure increased from USD 2.11 billion in 2019 to USD 2.19 billion in 2020. The company also has made significant acquisitions to expand its presence in the ventilators market. For instance, the company’s growth has been fueled by strategic partnerships and collaborations with various companies and organizations such as SinoMed Imaging System, InSightec, the Yale School of Medicine (US), and Hologic, Inc. (US). In addition, it has strengthened its ventilator customer base by collaborating with the US government. This collaboration has helped increase hospital ventilators production in Philip’s manufacturing sites in the US to combat the COVID-19 pandemic.
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ResMed provides a broad portfolio of ventilators products and has a wide geographic presence across North America, the Asia Pacific, and Europe. ResMed is well-positioned in the ventilators market and focuses on developing new and innovative products. In accordance with this, over the last five years, the company developed and launched several respiratory care products; for instance, in August 2018, ResMed enhanced its Astral life support ventilators, including Optional AutoEPAP in iVAPS for the US patients, a high-demand therapy option. The company is also engaged in enhancing its geographical presence in high-growth regions by acquiring regional companies. For example, in March 2019, ResMed acquired HB Healthcare Safety (South Korea), a home-based medical equipment provider for sleep and respiratory care devices like ventilators.
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About the Authorsnehal shaha
Joined: July 4th, 2019
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