Ventilators Market: Size, Share, Forecasts, and Trends Analysis

Meticulous Research®, a leading market research firm, has released a report titled Ventilators Market Size, Share, Forecast, & Trends Analysis by Product (Instrument, Catheter, Mask, Tube), Mobility (Intensive Care, Portable), Interface (Invasive, Non-invasive), Age Group, Mode (Volume, Pressure), End User – Global Forecast to 2031.

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According to this latest publication from Meticulous Research®, the ventilators market is projected to reach $13.23 billion by 2031, growing at a CAGR of 8.3% from 2024 to 2031. Key factors driving this growth include the increasing number of ICUs, a higher prevalence of respiratory conditions, rapid urbanization and rising pollution levels, an aging population, and a surge in preterm births. However, the high costs of ventilators and the preference for alternative oxygenation therapies are limiting the market’s growth.

In emerging regions such as Asia-Pacific and Latin America, advancements in healthcare infrastructure and rising demand for home care therapeutic devices are creating growth opportunities. Nonetheless, challenges such as adverse effects of ventilators on neonates and difficulties in sourcing components for manufacturing are impacting market development.

Traditionally, conventional invasive ventilators have dominated the market, but they face limitations such as portability issues, patient discomfort, and restricted age group use. Recent advancements, however, have addressed these challenges with the development of non-invasive, portable, and even wearable ventilators. For example, Shinano Kenshi Co., Ltd. (Japan) is developing a wearable ventilator system for patients with COPD or lung transplants, which will simplify transportation compared to traditional ventilators.

Key Players: The report profiles leading companies in the ventilators market, including Schiller AG (Switzerland), Hamilton Medical AG (Switzerland), Koninklijke Philips N.V. (Netherlands), GE HealthCare Technologies, Inc. (U.S.), Medtronic plc (Ireland), Getinge AB (Sweden), ResMed Inc. (U.S.), Zoll Medical Corporation (U.S.), Drägerwerk AG & Co. KGaA (Germany), Fisher & Paykel Healthcare Limited (New Zealand), and VYAIRE MEDICAL, INC. (U.S.).

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Market Segmentation: The ventilators market is segmented by product, mobility, interface, age group, mode, end user, and geography. In 2024, ventilator accessories are expected to lead the market with a 36.8% share, driven by their widespread use, hospital hygiene emphasis, and added functionality for medication administration.

Based on mobility, intensive care ventilators are projected to dominate the market with a 76.2% share in 2024, owing to the rising demand in ICUs, reimbursement options for respiratory treatments, and increasing admissions due to chronic respiratory conditions and preterm births.

For interface, invasive ventilators are set to dominate in 2024, as they are commonly used in ICUs for chronic respiratory, infectious diseases, and sleep disorders.

Among age groups, the adult & pediatric segment is anticipated to dominate the market due to the high adoption of ventilators among elderly patients with chronic conditions.

In ventilation modes, volume mode ventilation is expected to lead, thanks to its precise control of minute ventilation and consistent tidal volume delivery in intensive care settings.

In terms of end users, hospitals are projected to hold the largest market share in 2024, driven by the rising number of respiratory illness cases, skilled healthcare professionals, and access to advanced medical equipment.

Regional Outlook: North America is expected to dominate the ventilators market in 2024, with a 55.7% share, attributed to its advanced healthcare infrastructure, adoption of cutting-edge technologies, presence of key market players, and a growing geriatric population. The region also sees rising demand for long-term and home healthcare solutions.

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Key Questions Answered in the Report:

• Which are the high-growth market segments in terms of product, mobility, interface, age group, mode, end user, and geography?
• What was the historical market size for ventilators across the globe?
• What are the market forecasts and estimates for the period 2024–2031?
• What are the major drivers, restraints, opportunities, and challenges in the ventilators market?
• Who are the key players operating in the ventilators market?
• What is the competitive landscape like?
• What are the recent developments in the ventilators market?
• What are the different strategies adopted by the major players in the ventilators market?
• What are the geographical trends and high-growth regions/countries?

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