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Technological advancements and hospital expansion accelerating growth of global ventilator market

Press release August 28, 2014 Ventilator market, market research report

The report also reviews the competitive landscape, analyzes pipeline products by segmentand gives details of important merger and acquisition deals.

The global ventilator market raked in USD 765.3 million in 2013 and is forecasted to cross USD 1 billion by 2020, recording a CAGR of 5%. The rise in the incidence of Chronic Obstructive Pulmonary Disease (COPD), especially for the population aged 80 years and above, will continue to remain the major driver of growth.

This report, Ventilators Market to 2020 - Technical Advances and Hospital Expansion Serve as Distinct Regional Growth Drivers, provides a detailed analysis of the market and focuses on the major players, recent development and key drivers of the global ventilator market.

Market overview and key drivers

The rise in the occurrence of COPD has attributed to an increase in the critical care admissions where the use of mechanical ventilation is not uncommon. The prevalence of novel technologies and ventilation methods that prevent lung injury, improved time that patients will have to spend on mechanical ventilation and sedation with better synchrony between patients and ventilation will be the major drivers in the ventilator market.Emerging economies, especially India and China will continue to play an important role as they will witness an increase in the number of Intensive Care Unit (ICU) beds per 100,000 population. The improving reimbursement cases provided for ICU measures in developed economies will be another driver of the market.

Technological advances to drive growth

Technological innovations in non-invasive ventilation and new ventilation procedures for achieving better balance between respiratory technicalities of the patient and the ventilator is also expected to drive the market. Companies in the industry are working towards developing multimodal ventilators that will act as a permanent solution for critical care physicians handling varied range of ICU procedures. Non- invasive ventilation also prevents the requirement for endotracheal intubation, which makes patient vulnerable to infection and potential lung injury. These advantages are slated to drive the market towards growth in the forecast period. In Europe, most hospitals are already using non-invasive ventilation as the primary mode of ventilation. In the US on the other hands, the use of non-invasive ventilation is also rising slowly.

Rising number of hospitals in emerging economies

An increase in the number of hospitals (equipped with ventilators) has also led to an increase in the growth of the market. ICU beds are therefore also on the rise in economies like China and India. For example, in China the number of hospitals has increased 18,393 to 23,596 during the years 2004 to 2013. This has provided significant prospect for the leading players in the market to take advantage.

Key players

The key players in the ventilator market include ResMed, PhilipsRespironics (Subsidiary of Koninklijke Philips), Covidien, Draegerwerk, GE Healthcare (Subsidiary of General Electric), CareFusion, Smiths Medical, Maquet, Hamilton and Air Liquide.

For further insights,

Visit: Technological advancements and hospital expansion accelerating growth of global ventilator market

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Ventilator market, market research report


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