Ventilators offer support for breathing through an external interface, such as nasal prongs or mask. It can be used for several hours a day or while sleeping hours. There are two types of ventilators such as invasive and non-invasive. Invasive ventilation is delivered through an endotracheal tube that is inserted into patient’s nose or mouth, or through a tracheostomy, it is a surgical incision in the neck to access trachea. Invasive ventilation delivers air on a timed cycle through the tube and ensures that the patient takes a minimum number of breaths per minute. Growing geriatric population base and increasing number of preterm births are some of the driving factors for ventilators market. Invasive ventilation is recommended on the permanent mode by doctors for patients who are unable to breathe on their own. Such factors increase demand for ventilators.
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Increasing number of respiratory diseases coupled with growing number of ICU beds in the hospital and lifestyle-related changes such as alcohol consumption and smoking will further drive ventilators market over the forecast period. However, harmful effects of certain devices on neonates, complications associated with the use of ventilators and reimbursement concern may restrain industry growth. The death rate of patients who needed mechanical ventilation is higher, due to the severity of illness of patients admitted to ICU unit in most of the hospitals. Risks associated with the hospital mortality is due to the severity at the beginning of mechanical ventilation that occurred during mechanical support.
Based on mobility, the ventilators market is segmented into Intensive care, portable. On the basis of the type, the market is segmented into invasive and non-invasive ventilators. Based on the end user, the market is segmented as a hospital, ambulatory care center, and others.
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North America held a major revenue share of the global ventilators market in 2017 and the region is anticipated to continue with its regional supremacy over the forecast period. The growth of this regional market is attributed due to the high adoption rate of novel technology and presence of well-established healthcare infrastructure. Asia-Pacific is projected to grow at a significant CAGR, due to rising geriatric population, growing number of preterm births and high unmet medical needs in the region.
Some of the key players in the ventilators market include Philips Healthcare, ResMed, Medtronic, Becton, Dickinson and Company, Getinge, Dräger, Smiths Group, Hamilton Medical, GE Healthcare and Air Liquide. Industry players majorly focus on new product launch and long-term partnerships in order to gain maximum share in the market.