By Type, Clinical Ventilators Segment to Account for Larger Share in Ventilators Market During 2022–2030
According to our latest study on “Americas Ventilators Market Forecast to 2030 – COVID-19 Impact and Regional Analysis – by Type, Clinical Indication, Patients, Mobility, Mode, Interface, and End User," the Americas Ventilators market size is expected to grow from US$ 2,392.03 million in 2022 to US$ 6,076.31 million by 2030; it is estimated to record a CAGR of 12.4% during 2022–2030. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
Technological Innovations in Ventilators to Provide Lucrative Opportunities to Market in Future
There has been a rise in demand for innovative smaller, quiet, and comfortable ventilators that respond to patients' individual needs. Also, innovative ventilators enable healthcare providers to ensure effective treatment for patients in the ICU. Over the last two decades, technological advancements have led to significant improvements in ICU ventilator performance.
Americas Ventilators Market, by Region, 2022 (%)
Americas Ventilators Market Size and Forecast to 2030 - Regional Analysis by Type (Clinical Ventilators and Home Ventilators), Clinical Indication (Medical, Trauma, Neurological, Surgical, and Others), Patients (Adult, Pediatric, and Neonatal), Mobility (Intensive Care Ventilators and Portable/Transportable Ventilators), Mode (Combined Mode Ventilation, Volume Mode Ventilation, Pressure Mode Ventilation, Neurally Adjusted Ventilatory Assists, Inverse Ration Ventilation, Prone Ventilation, High-Frequency Oscillatory Ventilation, High-Frequency Percussive Ventilation, and Others), Interface (Invasive and Non Invasive), End User (Hospitals and Clinics, Homecare, Ambulatory Care Centers, Emergency Medical Services, and Others)
Americas Ventilators Market to Grow at a CAGR of 12.4% to reach US$ 6,076.31 million from 2022 to 2030
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Source: The Insight Partners Analysis
State-of-the-art ICU ventilators primarily feature a series of microprocessors controlling a gas delivery platform. As a result, the capabilities of these ventilators are markedly more significant than previous generations of ventilators. In advancements in ICU ventilators, new modes are available, closed-loop control is majorly being used, their monitoring capabilities are enlarged, and the user interface is also modified. Numerous clinicians are practicing noninvasive mask ventilation (NIV), which includes oxygen delivery to the patient's lungs using a mask without intubation. NIV is becoming increasingly popular; many ventilator manufacturers are incorporating these modes as standard in their ventilators. Transpulmonary pressure measurement, cuff pressure management to avoid VAP risks, lung recruitment with tools to determine the optimal PEEP, and EtCO2 & SPO2 monitoring are a few features offered in the latest ventilators.
Almost all of the new ICU ventilators have a computer screen based on their user interface. A few recent innovations in mechanical ventilators are lung protection strategies, automated weaning strategies, and optimizing ventilator synchrony. They are also enabled with technologies such as intelligent volume-assured pressure support (iVAPS) with an intelligent backup rate (iBR), leak management technology, learn circuit, and Vsync and TiControl for ensuring greater comfort.
Many market players are launching their innovative products in the market with advanced features and cost-effective prices. In July 2020, KPIT Technologies unveiled its versatile ventilators for COVID-19 treatments. Similarly, in June 2020, Fitbit launched Fitbit Flow, an easy-to-use and low-cost automatic resuscitator designed for emergency ventilation in COVID-19 patient treatment. Therefore, growing technological innovations in ventilators are expected to offer lucrative opportunities to the Americas ventilators market during the forecast period.
Medtronic Plc, Koninklijke Philips NV, Hamilton Medical AG, Dragerwerk AG & Co KGaA, Vyaire Medical Inc, Getinge AB, ResMed Inc, ICU Medical Inc, Nihon Kohden Corp, and Shenzhen Mindray Bio-Medical Electronics Co Ltd are among the leading companies operating in the Americas ventilators market.
Various organic and inorganic strategies are adopted by companies operating in the Americas ventilators market. Organic strategies mainly include product launches and product approvals. Further, acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall market growth. Further, acquisition and partnership strategies help the market players strengthen their customer base and expand their product portfolios.
Based on product type, the ventilators market is bifurcated into clinical ventilators and home ventilators. Based on clinical indication, the ventilators market is segmented into medical, trauma, neurological, surgical, and others. Based on By patients, the ventilators market is segmented into adult, pediatric, and neonatal. Based on mobility, the ventilators market is bifurcated into intensive care ventilators and portable/ transportable ventilators. Based on mode, the ventilators market is segmented into combined mode ventilation, volume mode ventilation, pressure mode ventilation, neurally adjusted ventilatory assists, inverse ration ventilation, prone ventilation, high high-frequency oscillatory ventilation, high-frequency percussive ventilation, and others. Based on interface, the ventilators market is bifurcated into invasive and non-invasive. Based on end user, the ventilators market is segmented into hospitals and clinics, homecare, ambulatory care centers, emergency medical services, and Others. Based on countries, the market is segmented into the US, Canada, Mexico, Brazil, Argentina, Chile, Peru, Colombia, and the rest of Americas.
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