Rising demand for easy treatment methods and surging respiratory diseases to drive market for portable ventilator market globally
According to TechSci Research report, “Global Portable Ventilator Market By Type, By Mode, By Application, By End User, By Region, Forecast & Opportunities, 2025”, the global market for portable ventilator is expected to grow at a steady rate during the forecast period. Ventilators find their usage in providing oxygen to the patients suffering from critical breathing and respiratory problems. In order to ease the breathing process in the circumstances where intensive care is required, ventilators play a vital role by supplying oxygen rich gas to the patient. The portable ventilator market is driven by various factors for instance, growth of ample number of respiratory and breathing diseases, increase in geriatric population, indispensable need for easy and better treatment of patients, increasing rate of smokers and installation of ventilator in ambulances and other places that require commutation. Additionally, technological advancements have led to the betterment of medical facilities and portable ventilators, due to which it is now possible to provide the right amount of pressure and oxygen needed by patient. Even though portable ventilators are highly important today, the complications of hectic installation and high maintenance cost might hamper the growth of the market during the forecast period. The urge for finance management makes people opt for cheaper products of lesser quality from local vendors, which is one of the challenges for the growth of this market. Improper ventilation cycles, inadequate or extra amount of heating, misfunctioning of alarms might also hamper the market growth.
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The global portable ventilator market is segmented based on type, mode, application, end user and region. Based on type, the market is segmented into invasive ventilation and non-invasive ventilation. The invasive ventilation segment holds the largest share because of the growing number of diseases like respiratory diseases, neurological diseases and sleeping disorders. Furthermore, the mode segment is segmented into pressure mode ventilation, volume mode ventilation and combined mode ventilation. The pressure mode ventilation segment is expected to dominate the market on account of its end-user applications in hospitals, ambulances, clinics, rehabilitation centers and others.
In terms of regional analysis, the market is dominated by North America and the region is anticipated to hold its leading position until 2025, due to high hospitalization rate and highly developed healthcare system in the countries such as US & Canada. The well-developed economy of the region is also a supporting factor for the growth of the market. North America is followed by Europe because of the increasing Intensive Care Units (ICUs). However, Asia-Pacific region is expected to grow at the highest rate through 2025, due to presence of countries like China and India, where the patient population is high and so is the expense on health and hospitals.
Leading players in the global portable ventilator market include Becton Dickinson and Co., ResMed Inc, Smiths Group PLC, Trivitron Healthcare Pvt Ltd, Medtronic PLC, Percussionaire Corp, Koninklijke Philips NV, Draegerwerk AG & Co KGaA, Teleflex Inc and Hamilton Medical AG, etc. The companies tend to be competitive with each other and hence to expand their market share and size and in order to gain the maximum profit, they keep launching new and improved portable ventilators with advanced and quality features.
“Global portable ventilator market is anticipated to witness substantial growth in the next five years as today the technology has intervened in different verticals like automotive, ICT, power, consumer goods & retail[HS1] , and especially medical and healthcare, due to which, portable ventilators would assist significantly in saving more lives by being an essential part of ambulances and providing enhanced features of operations in critical circumstances.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“Global Portable Ventilator Market By Type, By Mode, By Application, By End User, By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global portable ventilator market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global portable ventilator market.
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