Global Medical Ventilators Market 2017-2021
About Medical Ventilators
Medical ventilator is a device that is used to move breathable air into and out of the lungs. It also helps people who have lost their ability to breathe on their own. Ventilators can be used for a short or long period, depending on the condition of the patient. Patients are also put on ventilators when they are given general anesthesia during surgery.
Technavio’s analysts forecast the global medical ventilators market to grow at a CAGR of 6.27% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global medical ventilators market for 2017-2021. To calculate the market size, the report considers the sales/volume/value.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global medical ventilators Market 2017-2021
Technavio recognizes the following companies as the key players in the global medical ventilators market: Medtronic, BD, Philips Healthcare, Hamilton Medical, and Smiths Medical.
Other Prominent Vendors in the market are: Carl Reiner, Drägerwerk, GE Healthcare, Getinge, Mindray Medical International, ResMed, and Teleflex.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is ventilators with automatic adaptation. The concept of adaptive ventilation was developed to increase patient comfort. Adaptive ventilation changes according to the needs of the patient, breath by breath. In adaptive ventilation, the patient decides the need, and the machine adapts to the need. Vendors are developing new ventilators with automatic adaption.”
According to the report, one of the major drivers for this market is increasing prevalence of respiratory disorders. Respiratory disorders have been a major concern among developed as well as developing countries. Various conditions can lead to respiratory disorders such as COPD, asthma, tuberculosis, acute respiratory infection, and lung cancer.
Further, the report states that one of the major factors hindering the growth of this market is limited reimbursement to patients. An individual with respiratory failure on ventilator support has to bear a huge economic burden in a year. The cost can vary according to the respiratory condition and the type of ventilator used for the treatment. The reimbursement for patients on ventilator support is lower than the actual spending. Insurance providers do not cover the reimbursement of backup or additional ventilator for people on ventilation support. Insurance coverage is also subject to conditions set by insurance providers.
Medtronic, BD, Philips Healthcare, Hamilton Medical, Smiths Medical, Carl Reiner, Drägerwerk, GE Healthcare, Getinge, Mindray Medical International, ResMed, and Teleflex.