Global Medical Ventilator Market Overview:
The ventilator market is projected to reach USD 849.9 Million in 2018 and is expected to grow at a CAGR of 7.0% during the forecast period of 2018 to 2023. A medical ventilator is also known as a mechanical ventilator. This is a machine which is designed to move breathable air into and out of the lungs, to provide breathing for a patient who is physically unable to breathe, or breathing insufficiently. Ventilators may also be equipped with monitoring and alarm systems for patient-related parameters, backup batteries, oxygen tanks, and remote control. People who are facing breathing problem tend to die after they stop using ventilators. These medical ventilators survive the patient and help him to recover into his normal health condition. The end users of the market are Hospitals and clinics, Homecare, Ambulatory care centers, Emergency Medical Services.
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Global Medical Ventilator Market Drivers and Restraints:
The rising geriatric population, high prevalence of smoking, the high prevalence of respiratory diseases, highly developed health-care system, and high health-care expenditure are driving features for the market. Preterm births, rapid growth in the geriatric population and the rising number of ICU beds are the factors which are driving the medical ventilator market. The wide applications of intensive care ventilators in respiratory diseases, neurological diseases, and sleeping disorders are major factors for driving the market. the hospitals & clinics segments are likely to purchase more expensive products. The availability of low-cost products from the local market is a restraining factor for the market. Some of the restraining factors of the market are inappropriate reimbursement scenario, complications associated with the use of ventilators, and resistance from physicians for technology transition. These can cause loss to the market. Complications associated with the use of mechanical ventilators, resistance from physicians for technology transition are factors which are also restraining the market.
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Global Medical Ventilator Market Geographical Segmentation:
The Medical Ventilator Market is geographically segmented into North America, Europe, Asia- Pacific, Latin America, Middle-East and Africa.
The key players of Medical ventilator Market: Philips Healthcare (Netherlands), ResMed (US), Medtronic (Ireland), Becton, Dickinson and Company (US), Getinge (Sweden), Dräger (Germany), Smiths Group (UK), Hamilton Medical (Switzerland), GE Healthcare (US), Fisher & Paykel (New Zealand), Air Liquide (France), Zoll Medical (US), Allied Healthcare Products (US), Airon Mindray (China), and Schiller (Switzerland). North America accounted for the largest share of the medical ventilator market, followed by Europe and Asia Pacific.
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