New York, May 07, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mechanical Ventilators Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05891626/?utm_source=GNW
Increasing prevalence of chronic obstructive pulmonary disease(COPD) is the major driving factor for the industry. For instance, according to CDC (Centres for Disease Control and Prevention), in 2018, 9 million adults were diagnosed with chronic bronchitis which demands higher requirements for ventilators fueling the market. Additionally, Increasing intensive care admissions, the rising introduction of ventilation modes such as Acute Non-Invasive Ventilation which avoid lung injury are likely to drive the growth of the global mechanical ventilator market.
Key Market Trends
Intensive Care Ventilators Segment is Expected to Hold the Largest Market Share in the Global Mechanical Ventilation Market
- The intensive care ventilators segment is expected to account for the major market share owing to the technological advancements and increasing focus of manufacturers to develop them.
- Also, notable developments in the intensive care segment attribute to its prominent share in the market. Advancements such as Spontaneous Breathing Trial (SBT), used to assess the patient’s ability to breathe while receiving minimal or no ventilator support and Auto TRAK, which improve patient experience contribute to higher revenue of the segment.
- Portable ventilators are widely used in hospitals owing to their convenience, faster and continuous care to patients even prior to their arrival in the hospital premises. Thus, the rising number of hospitals are also expected to fuel the segment growth as they increase the demand for products due to their efficiency and variety of applications.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the overall ventilators market revenue throughout the forecast period. This dominance is due to the preference for reduced hospital stays timeframe of patients and improved patient experience. According to COPD foundation.org, about 90% of all COPD deaths in the United States are associated with smoking, which demands a higher requirement of ventilators, generating the revenue to the market.
Europe is the second most prominent region in the global mechanical ventilation market, owing to the research grants by the public & private players in the European countries to propel the R&D of ventilators. The significant share of Europe is due to revenue generated from the developed Western European economies, such as the U.K., Germany, France, and Italy.
The Asia Pacific and Latin America are expected to witness the fastest growth during the forecast period driven by the lucrative opportunities in China and India, rising expenditure levels, and support through government initiatives.
However, lack of access to diverse ventilation modes for major people, risk of infections like ventilator-associated pneumonia and lung damage may impede the market growth.
Competitive Landscape
The Mechanical ventilation market is moderately competitive and consists of several prominent industry players. Some of the key players are manufacturing and launching new products while others are distributing the ventilators which is fueling the market growth. For instance, in August 2019, Smiths Medical, a medical device manufacturer, entered partnership with Medline Industries for distribution of its Portex devices. The partnership will focus on the non-acute, home care channels and expand their respiratory division market gloabally. Koninklijke Philips N.V. launched portable ventilators under the name of Trilogy in North America and expanding their market position. Some of the companies which are currently dominating the market are Getinge AB, Medtronic PLC, Koninklijke Philips N.V., ResMed Inc., and Smiths Group PLC
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Read the full report: https://www.reportlinker.com/p05891626/?utm_source=GNW
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