Ventilator Market

Market Synopsis:

Global Ventilator market is valued at USD 6.41 Billion in 2022 and is projected to attain a value of USD 10.87 Billion by 2030 at a CAGR of 6.80% during the forecast period, 2022–2028.

The outbreak of the covid-19 pandemic, high prevalence of respiratory diseases, rapid growth in the geriatric population, increasing number of preterm births, and the rising number of ICU beds are driving growth in the Ventilator market. Technological advances in microprocessor-controlled ventilation combined with the complexity of new Ventilator modes have provided the multidisciplinary healthcare team with various opportunities to improve critically ill ventilator’s patient care. Advanced Ventilator` are also prepared for every situation and have a number of safeguards in place. Sensors and monitors are installed in patient-specific parameters such as air pressure, air volume, and flow speed, as well as generic parameters such as air leakage, mechanical failure, power failure, battery backups, oxygen tanks, and remote control.

The COVID-19 pandemic has wreaked havoc on many people's lives and companies on a massive scale. Businesses and commercial activity around the world have been severely disrupted by the outbreak. To relieve the load on the healthcare system and reduce disease transmission, various governments throughout the world have issued instructions to postpone or delay non-essential medical and surgical treatments. However, COVID-19 has given impetus growth to the Ventilator market.

Rising Prevalence of Respiratory Diseases

The most common respiratory ailments worldwide are chronic obstructive pulmonary disease (COPD) and asthma. According to the Global Burden of Disease Study, around 251 million cases of COPD were documented worldwide in 2016. COPD is anticipated to become the world's third-largest health issue by 2020, according to the World Health Organization (WHO). According to the World Health Organization (WHO), approximately 235 million people worldwide suffer from asthma. As these target indications become more common, hospital admission rates and readmission rates for affected patients rise, as they may require regular breathing support.

‹›

Report Coverage & Deliverables

PDF report & online dashboard will help you understand:

• Real-Time Data Updates:
• Competitor Benchmarking
• Market Trends Heatmap
• Custom Research Queries
• Market Sentiment Analysis
• Demographic and Geographic Insights

Book Demo

Get Access Now

Reimbursement Concerns

Many people rely on reimbursements to pay for their medical care. Part B of Medicare in the United States pays for medically essential durable medical equipment, such as ventilators. Mechanical ventilators are devices that have exhalation valves, adjustable ventilator rates, and alarms, according to Medicare. Ventilators for the treatment of restricted thoracic disorders, neuromuscular diseases, chronic respiratory failure, and COPD are covered. Ventilators fall under Medicare's "Frequently and Substantially Serviced" payment category. As a result, Medicare pays for this category on a monthly rental basis, and patients have a long-term medical need for the device. Medicare, on the other hand, does not pay for the purchase and does not cover any other ventilator-related accessories, such as humidifiers.

Market Segmentation:

The Global Ventilator Market can be segmented by Mobility (Intensive Care Ventilators and Portable Ventilators), By Interface (Invasive Ventilation and Non-Invasive Ventilation), By End User (Hospitals, Home Healthcare, and Other End Users). Based on Region, the Ventilator Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

North America to Continue Dominating the Ventilator Market

In 2020, North America dominated with the highest revenue share. The expansion of this segment is due to factors such as a high level of public awareness about the existence of such services. Increased prevalence of chronic obstructive pulmonary disease (COPD) and respiratory illnesses, well-established healthcare infrastructure, and the presence of prominent market competitors in the region are some of the factors driving market expansion.