Ventilator Market to Generate Revenue Worth $2,887.32 Million by 2030

The global ventilator market will generate a revenue of $2,887.32 million by 2030, and the market size will advance at a CAGR of 7.1% between 2021 and 2030. This can be attributed to the surging cases of chronic illnesses and respiratory diseases, which require extensive care.

Non-Invasive Garners the Second-Largest Share

The non-invasive category accounted for the second-largest revenue share, of around 35%, in the market in 2021. For acute treatment, non-invasive ventilation systems are frequently employed, due to the technological advancements and innovations in these ventilators, such as simple application settings, a wide range of modes, and increased patient compliance.

Moreover, the high prevalence of smoking is causing several respiratory diseases like asthma, bronchitis, and others, which are affecting a large population of people across the globe. Thus, invasive ventilation systems are in high demand for the adult patient population in urgent cases. Respiratory, cardiac, and neurological problems are widespread among adults globally, according to a report from the Society of Critical Care Medicine.

Intensive Care Ventilators Hold the Largest Share

The market for ventilators worldwide is dominated by the intensive care category. This is due to the rising number of intensive care unit (ICU) beds with ventilators, the increasing ICU admissions because of COVID-19, and a large number of re-admissions, combined with adequate reimbursements.

Moreover, portable ventilators are adding convenience by enabling clinicians to quickly and easily initiate efficient oxygenation and treatment for patients. Also, modern portable life support ventilators offer invasive, non-invasive, and mouthpiece ventilation and are lighter and smaller. Furthermore, to enable comfortable breathing and precise therapy, the most recent advancements in ventilation technology lead manufacturers to work on wirelessly connected portable ventilators, in an effort to significantly improve patient outcomes.

Homecare Holds Significant Market Share

Homecare holds a significant share in the market. Homecare gained traction due to the increased cases of COVID-19. Since there were a smaller number of hospital beds available for the treatment, patients have started using homecare services in order to meet the emergency requirements.

Community care is to make it possible for people to live quality of life, get proper treatment, decrease the number of hospital admissions, and improve the long-term health of people with complex requirements, as more intensive care needs are being met in community care centers.

Some of the major players in the ventilator market are Allied Healthcare Products Inc., Bio-Medical Electronics Co. Ltd., ResMed Inc., GE Healthcare, Metran Co. Ltd., Hill-Rom Holdings Inc., and Air Liquide S.A.