Published Date: 31-Mar-2022
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According to a new report, published by KBV research, The Global Mechanical Ventilator Market size is expected to reach $11.7 billion by 2027, rising at a market growth of 12.7% CAGR during the forecast period.
The Intensive Care Unit/Critical Care segment is generating high revenue in the Global Mechanical Ventilator Market by Product Type in 2020, thereby, achieving a market value of $5.3 billion by 2027. Critical care ventilators are majorly used in hospital intensive care units. A positive impact on revenue growth is expected, with an increase in the number of hospitals and healthcare facilities. The growing prevalence of target indications is expected to boost hospital admission rates as affected patients might need frequent ventilation.
The Geriatric market is showcasing a CAGR of 12.5% during (2021 - 2027). Due to increase in geriatric population and rise in diseases associated with old age.
The Invasive Ventilation segment has acquired maximum revenue share in the Global Mechanical Ventilator Market by Mode in 2020, thereby, achieving a market value of $6.4 billion by 2027. This growth is owing to the increasing predominance of congenital heart disease (CHD) in infants and children. The tracheostomy tube is utilized for invasive ventilation. The surging application of invasive ventilation in young children who need continued mechanical ventilation and the benefits of invasive ventilation like affordability, no requirement of sedation, convenience for the patient, intubation and airway skills not needed and time-effectiveness for the facility are further propelling the growth of this segment.
The Hospital & Clinic is leading the Global Mechanical Ventilator Market by End User in 2020, thereby, achieving a market value of $5.8 billion by 2027. This is owing to growing hospitals’ expenditure that allows the acceptance of technologically advanced ventilators. In addition, the availability of skilled health care providers to operate these ventilators, the increased emphasis on better health outcomes, and improved productivity of hospitals are contributing to the segment growth. Furthermore, constant monitoring offered by hospital staff is likely to increase the preference of patients for these healthcare facilities.
The North America is the fastest growing region the Global Mechanical Ventilator Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3.9 billion by 2027. The Europe market is estimated to grow at a CAGR of 11.9% during (2021 - 2027). Additionally, The Asia Pacific market would experience a CAGR of 14.5% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of General Electric (GE) Co. (GE Healthcare), Koninklijke Philips N.V., Medtronic PLC, Dragerwerk AG & Co. KGaA, Getinge AB, Asahi Kasei Corporation (Zoll Medical Corporation), Hamilton Medical AG (Hamilton Bonaduz AG), Carl Reiner GmbH, Mindray Medical International Limited, and Vyaire Medical, Inc.
By Product Type
By Age Group
By End User
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