The global mechanical ventilator market is projected to reach USD 9.99 billion by 2028, growing at a CAGR of 5.6%. Growing elderly population, increasing incidence of Chronic Obstructive Pulmonary Disease (COPD) and increasing cases of COVID-19 are some of the factors driving the growth of the global mechanical ventilator market.
Adroit Market Research report on global Mechanical ventilator market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 to 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global mechanical ventilator market have been studied in detail.
Mechanical ventilation is primarily used to help patients who need added respiratory support. It is indicated for acute or chronic hypoxemic respiratory failure to aid acute oxygenation difficulties or compensate for ventilatory pump failure. It improves gas exchange and decreases the work of breathing. Over the past several years, there has been an introduction of numerous modes of mechanical ventilation, each with their own advantages and limitations.
The global mechanical ventilator market is categorized based on product. On the basis of product, the market is segmented into critical care, neonatal, transport & portable and others. The critical care ventilators dominated the market in 2020. There has been a rise in the number of critical care ventilators in hospital’s intensive care units due to COVID-19.
North America dominated the market for mechanical ventilator in 2020, while Asia Pacific is set to grow at a highest CAGR due to growing cognizance about patient care. Key players of the global mechanical ventilator market include Getinge AB, Medtronic, Vyaire Medical Inc., Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V., GE Healthcare, Smiths Group plc, ACOMA Medical Industry Co., Ltd., Hamilton Medical among others.
Key segments of the global mechanical ventilator market
Product Overview, 2018-2028 (USD Billion)
- Critical Care
- Transport & portable
Regional Overview, 2018-2028 (USD Billion)
- North America
- United Kingdom
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa