Pune, June 20, 2022 (GLOBE NEWSLETTER) — According to a recent study published by Growth Plus Reports, the demand for the global market for ventilators: is expected to reach US$ ~49.13 billion by 2031. Factors such as the rising prevalence of chronic respiratory diseases and the launch of advanced airways play a key role in driving the market growth.
Advances in technology have ushered in new ways of how healthcare can be delivered by creating convenience for both patients and caregivers. The integration of advanced products is a boon for boosting the ventilator market.
Many healthcare companies are committed to developing and launching new products that will help diagnose the disease more easily and quickly. Several digital devices have been launched by companies that help monitor and improve patient adherence and in turn improve patient outcomes.
Companies like ResMed are focused on building intelligent therapy solutions powered by data analytics, AI, ML and sensor technologies that will help improve patient care. For example, in 2020, ResMed launched Mobi – a portable oxygen concentrator. Mobi offers an optimal balance between oxygen supply, weight and battery life, so that people with COPD or other chronic diseases can use oxygen therapy everywhere.
The launch of such advanced products is helping to transform the delivery of respiratory care.
The global respiratory equipment market has been analyzed from four perspectives: product, application, end users and region.
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Excerpts from ‘By product segmentation’
On the basis of product, the ventilator market is segmented into:
The therapeutic device segment is further divided into ventilators (ICU ventilators and portable ventilators), positive airway pressure (PAP) devices (automatic positive airway pressure (APAP) device, bilevel positive airway pressure (BiPAP) device and continuous positive airway pressure (CPAP) device), oxygen concentrators , nebulizers, humidifiers, reusable respirators, inhalers and oxygen hoods.
The therapeutic devices segment had the largest market share in 2020.
The rising prevalence and mortality associated with severe respiratory disease has led to a growing demand for devices such as PAP, ventilators, nebulizers and oxygen concentrators. This is driving the growth of the therapeutic device segment.
Excerpts from ‘Segmentation by region’
Regionally, Asia-Pacific is expected to grow at a higher CAGR over the forecast period.
Factors contributing to the growth of this segment include increasing health care spending, increasing medical tourism, and increasing private-public funding.
In addition, new product launches have played a key role in boosting the ventilator market in the region.
For example, Honeywell International Inc. established N95 mask production in India in August 2020. The company planned to manufacture up to 2 million disposable masks monthly at its Fulgaon factory in Pune, India. Similarly, in November 2019, Lupine launched ‘Adhero’, a first of its kind smart device launched in India to track the metered dose inhaler (MDI) usage pattern by patients. This device is a reusable device with built-in sensors to monitor daily usage and consumption patterns.
Excerpts from ‘Competitive Landscape’
Major Players in the Global Respiratory Care Devices Market include:
Royal Philips NV
General Electric Company
Air Liquid Medical Systems
Drägerwerk AG & Co. KGaA
Fisher & Paykel Healthcare Limited
Among other things
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1.1. Market Ecosystem
1.2. Geographic reach
1.3. Timeline under consideration
1.3.1. Historic years – 2018 & 2019
1.3.2. Base year – 2020
1.3.3. Forecasted years – 2021 to 2031
1.4. Currency used in the report
2. RESEARCH METHOD
2.1. Research approach
2.2. Data Collection Methodology
2.3. Data sources
2.3.1. Secondary Resources
2.3.2. Primary Sources
2.4. Market Estimation Approach
2.4.1. bottom top
2.4.2. Upside down
2.5. Market prediction model
2.6. Limitations and Assumptions
3. PREMIUM INSIGHTS
3.1. Current Market Trend (COVID-19 Perspective)
4. MARKET DYNAMICS
5. GLOBAL MARKET FOR RESPIRATORY DEVICES – ANALYSIS & FORECAST, BY PRODUCT
5.1. Therapeutic Devices
188.8.131.52. ICU fans
184.108.40.206. Portable fans
5.1.2. Positive Airway Pressure (PAP) devices
220.127.116.11. Automatic Positive Airway Pressure Device (APAP)
18.104.22.168. Bilevel Positive Airway Pressure (BiPAP) Device
22.214.171.124. Continuous Positive Airway Pressure (CPAP) device
5.1.3. Oxygen Concentrators
5.1.6. Reusable Ventilators
5.1.8. oxygen hoods
VALUE PROPOSITIONS RELATING TO THE REPORT†
Powered with free analyst hours and expert interviews with every report
Extensive quantitative and qualitative insights at segment and sub-segment level
Covid 19 affects trends and perspective
Detailed insights at the global/regional/national level
Deep-rooted insights into market dynamics (drivers, constraints, opportunities) and business environment
General Coverage on Competitive Landscape
Extensive coverage of ‘Strategic Developments’ registered by leading players in the market
Distributor landscape rating
Customer base rating
Analysis of investments and initiatives
‘Company Profile’ of Key Players
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