Ventilator Market by Type (Intensive Care, Portable), Age Group (Adult, Infant), Mode (Volume, Pressure, Combined), Interface (Invasive, Non-invasive), End User (Hospital, Home Care, Ambulatory Care Center) - Global Forecast to 2021
The ventilators market is projected to reach USD 1,012.3 million by 2021, growing at a CAGR of 7.9% during the forecast period of 2016 to 2021. Rising geriatric population, growing prevalence of respiratory diseases, and increasing number of preterm births are expected to fuel the growth of this market in the coming years. Several manufacturers focus majorly on launching new products in order to achieve growth in the ventilators market. They are also focusing on acquiring local and international players to expand their portfolios and enhance their distribution channels in emerging markets. Technological advancement is another key focus area for manufacturers to improve technologies and thus prevent lung injury and reduce the time spent on mechanical ventilation.
The global ventilators market is segmented based on product type, age group, interface, mode, and end user. Based on product type, the ventilators market is segmented into intensive care ventilators and portable/transportable ventilators. Based on age group, the ventilators market is segmented into adult/pediatric ventilators and neonatal/infant ventilators. Based on mode, the market is segmented into combined-mode ventilation, volume-mode ventilation, pressure-mode ventilation, and others. Based on interface, the market is segmented into invasive ventilation and non-invasive ventilation. On the basis of end user, the market is segmented into hospitals & clinics, home care, and ambulatory care centers. This report also provides market information across major regional segments, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. These regions are further segmented at the country level.
North America is the largest market for ventilators, followed by Europe. Asia-Pacific possesses lucrative growth potential for the ventilators market during the forecast period. The rising geriatric population, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for cutting-edge technologies, and expansion of private hospitals in rural areas are the major factors driving growth of the ventilators market in this region.
The global ventilators market is consolidated at the top with the top 5 companies accounting for more than half of the global market share. The major players in the market include Philips Healthcare (Netherlands), ResMed Inc. (U.S.), Medtronic plc (Ireland), Becton, Dickinson and Company (U.S.), and Getinge Group (Sweden). Some of the other players in this market are Dräger Group (Germany), Smiths Group plc (U.K.), Teleflex Incorporated (U.S.), Hamilton Medical AG (Switzerland), and GE Healthcare (U.S.).
Reasons to Buy the Report
This report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater market share. Companies purchasing this report could use any one or a combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for enhancing their market share.
This report provides insights on the following pointers:
Market Penetration: Comprehensive information on product portfolios offered by top players in the ventilators market. This report analyzes the ventilators market by product type, mode, interface, age group, end user, and region
Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and new product launches in the market
Market Development: Comprehensive information on the lucrative emerging markets for ventilators
Market Diversification: Exhaustive information of new products, growing regions, recent developments, and investments in the ventilators market
Competitive Assessment: In-depth assessment of market shares, growth strategies, products, geographical coverage, and financial capabilities of the leading market players