The factors contributing to the growth of the market include increasing prevalence of respiratory disorders, growing geriatric population, technological advancements, rise in surgical procedures, and focus on patient comfort and safety. The rising incidence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and acute respiratory distress syndrome (ARDS) is driving the demand for mechanical ventilation. These conditions often require ventilatory support to assist with breathing and improve patient outcomes.
Further, with the global aging population, there is a higher prevalence of respiratory diseases among the elderly. Older adults are more susceptible to conditions like pneumonia and respiratory failure, which often necessitate mechanical ventilation. The aging population contributes to the increased demand for ventilators.
Market Scope & Overview
The global Medical Mechanical Ventilation Market study by RationalStat comprises comprehensive market analysis and insights across the key market segments and geography. The market report analyzes the global market for the historical period of 2019-2021 and the forecast period of 2022-2028 based on the product installed base, key forecasting factors impacting the market conditions, and major market developments happening in the market throughout the analysis period. RationalStat practices primary and secondary research for conducting an insightful market study. Various market parameters such as macroeconomic conditions, market environment, government policies, and competitive landscape are thoroughly studied and taken into account while analyzing the market.
The global Medical Mechanical Ventilation Market report also covers value chain and supply chain analysis that provides in-depth information about the value addition at each stage of the product. Market dynamics incorporated in the market study include drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period. The market study also covers the pricing analysis of each product based on its types and regions.
The global Medical Mechanical Ventilation Market includes a market share analysis and market structure overview with detailed company profiling of leading players with their financials, product offerings, major developments, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.
State of Global Economy, COVID-19 Outbreak, and the Russo-Ukraine War Impact
The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdue growth, while other countries continued to grapple with economic slowdowns. Also, intensifying tension between the US and Iran along with the tightening sanctions on Venezuela by the US further hampered global economic growth in 2019. Moreover, the heightened trade war between the US and China and the rising trade uncertainty continued to exert adverse effects on the global economy. Amid all these, the COVID-19 outbreak at the end of the year 2019 in Wuhan, China further deteriorated global economic growth.
The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, UK, Germany, India, Japan, South Korea, the UK, and many others. Many of these countries had announced partial or complete nationwide lockdowns. The governments of several nations have called on people to shelter in place at home, travel restrictions, shut down local businesses, and prohibited social gatherings.
The rapid spread of the virus in the early month of 2020 followed by a second wave of COVID-19 caused a significant change in management strategies of the leading industries which have affected the market or industry at a significant level. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.
Key Market Segmentation and Companies
RationalStat has segmented the global Medical Mechanical Ventilation Market based on type, end user, and region.
- By Type
- By End User
- Mechanical Ventilator Hospitals
- Home healthcare
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
- Leading Companies and Market Players
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
- MicroPort Scientific Corporation
- Koninklijke Philips N.V.
- ZOLL Medical Corporation (Asahi Kasei)
- Nihon Kohden Corporation
- Schiller AG
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RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
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- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
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- Whitepapers, research papers, and industry blogs.
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The report is intended for global and regional manufacturers, producers, and suppliers, third-party distributors, dealers, exporters & importers, government organizations, educational organizations, the healthcare sector, regulatory agencies, end user industry, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.