Ventilators Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

The Business Research Company’s Ventilators Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

LONDON, GREATER LONDON, UK, November 30, 2023 /EINPresswire.com/ -- The ventilators market has exhibited rapid growth, escalating from $4.55 billion in 2023 to an estimated $5.02 billion in 2024, with a commendable Compound Annual Growth Rate (CAGR) of 10.4%. This trajectory is anticipated to persist, with the market forecasted to reach $7.39 billion by 2028, propelled by a projected CAGR of 10.1%.

Market Driver: Respiratory Diseases Surge Spurs Demand
A pivotal driver steering the ventilators market's trajectory is the escalating prevalence of respiratory diseases. Conditions such as asthma, bronchitis, pneumonia, and others, stemming from various infections and causes, contribute to the rising demand for ventilators. These respiratory devices play a crucial role in supporting respiration in patients grappling with chronic respiratory ailments. Notably, nearly 30% of Australians reported long-term respiratory illnesses in 2023, as disclosed by the Australian Institute of Health and Welfare. The surge in infectious diseases, particularly respiratory disorders like those induced by the coronavirus, further amplifies the need for ventilators, driving market growth.

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Market Segmentation
1) By Type: Intensive Care Unit/Critical Care, Transport/Portable/Ambulatory, Neonatal
2) By Interface: Invasive, Non-Invasive
3) By End-User: Hospitals and Clinics, Home care, Ambulatory Care Centers, Other End Users

Emerging Trend: Ventilator Production Boost Amid Pandemic Realities
An emerging trend in the ventilators market is the concerted effort by companies to enhance production capabilities in response to the COVID-19 pandemic. COVID-19, a respiratory disease caused by the coronavirus, has significantly increased the demand for ventilators. Major players in the market, such as Medtronic and Philips, have substantially increased their ventilator production capacities to meet the surging demand. Medtronic, a leading medical device manufacturer, elevated its ventilator production by 40%, while Philips aimed to quadruple its production capacity, attesting to the market's responsiveness to the urgent healthcare needs arising from the pandemic.

Regional Dynamics: Asia-Pacific Leads, Western Europe Follows
As of 2023, Asia-Pacific stands out as the largest region in the ventilators market, reflecting robust adoption and a prominent market presence. Western Europe follows closely as the second-largest region, emphasizing the global significance of these respiratory devices.

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Ventilators Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Ventilators Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on ventilators market size, ventilators market drivers and trends, ventilators market major players, ventilators market drivers competitors' revenues, ventilators market drivers positioning, and ventilators market drivers growth across geographies. The ventilators market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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