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By 2026, Europe Mechanical Ventilators Market to Widen at USD 650 Mn
Published Date: 2020-05-26
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According to the Graphical Research new growth forecast report titled Europe Mechanical Ventilators Market Share is set to exceed USD 650 million by 2026. The COVID-19 pandemic in the region has boosted the demand for the mechanical ventilators in order to treat ill patients. The unprecedented rise of COVID-19 is projected to fuel the production of mechanical ventilators across the region. Various manufacturers have ramped up the production in order to suffice the demand for ventilators during the pandemic crisis. Growing number of respiratory infections, rising prevalence of chronic obstructive pulmonary disease, increasing number of hospitals across the region are some other key factors to boost the market growth. Hence, owing to the above mentioned factors the Europe mechanical ventilators market will witness an exponential growth in the coming period.
Rising cases of chronic diseases among aging population are some other factors that are also contributing into the market growth. Ongoing technological advancements in ventilators to offer the better services to patients is also boosting the demand for ventilators across the region. Government initiatives during the crisis of COVID-19 pandemic has further fostered the market growth positively. Hence, owing to these attributes the market will register a substantial growth in the coming years. However, high cost of the devices may hinder the market growth across the region.
Intensive care ventilators segment held the largest revenue share in 2019 and is anticipated to witness a significant growth in the upcoming years. The high growth can be attributed to the growing cases of respiratory ailments among geriatric population that would require immediate intervention of ventilators. In addition, rising pandemic of COVID-19 across the region has further affected the healthcare systems drastically. Insufficient supply of ventilators to handle the impending surge in critically ill patients will propel the demand for these ventilators thereby boosting the overall market growth.
Non-invasive ventilation segment held the highest revenue in 2019 and was valued at USD 302.5 million and is projected to follow the same trend in the coming years. The high growth rate is due to the factors such as better tolerance and convenience than invasive ventilation, cost effective, and reduces work of breathing. Hence, these factors have propelled the segmental growth and is expected to witness a significant growth in the upcoming years.
Adult ventilators segment is projected to witness the constant growth during the forecast period. Rising geriatric population coupled with various chronic diseases such as respiratory ailments, cardiac pulmonary resuscitation, diabetes, neurological disorders among others are some of the factors that are contributing into the market growth positively. In addition, growing COVID-19 pandemic among adults is further boosting the demand for mechanical ventilators that will further foster the overall market growth positively in the upcoming years.
Resuscitation segment accounted for the largest share of around 40% in 2019. The high share of the segment is owing to the rising number of cardiopulmonary resuscitation cases across the region. According to a recently published article, in UK, each year around 270 children die of cardiac pulmonary resuscitation. Hence, owing to these statistics the demand for ventilators is expected to propel thereby, boosting the overall market growth positively.
Pressure mode ventilator segment was valued at USD 288.7 million in 2019. The dominant share is due to several factors such as minimal cardiovascular effects, increased patient comfort, and improved patient & ventilator synchrony. Thus, these are some of the attributes that is propelling the market growth positively and is anticipated to fuel the segmental growth over the analysis timeframe.
The hospital segment held the largest revenue in 2019 and was valued at USD 278.1 million. The upsurge in the number of hospital admissions due to the rise in geriatric population across the region will boost the market growth. According to a news article, in 2020, more than 23% were reported above the age of 65 in Italy. Furthermore, as the COVID-19 cases across Europe as of May 14th, 2020 was around 1,766,700 and 159,330 deaths are reported so far therefore the demand for ventilator is propelling dramatically. However, the government is expected to witness a decline in the coming days and is maintaining a national stockpile reserve of ventilators in order to encounter any calamities. Hence, owing to the above mentioned cases the region will witness a significant demand for ventilators in the coming years that will in turn foster the overall market growth.
UK mechanical ventilators market was valued at around USD 24.4 million in 2019 and is anticipated to show multifold growth from 2019 to 2020. The high growth is attributed to the growing COVID-19 pandemic that has led to the rising number of hospital admissions. According to the news article, so far around 233,151 cases were reported on 8th of May 2020. Currently the country has 5,900 ventilators and due to growing number of coronavirus cases the country is likely to face a shortage of ventilators. According to the news agency, around 30,000 ventilators are required in the country in order to suffice the patients need. Hence, owing to the rising cases across the country the demand for ventilators is growing significantly, thereby propelling the market growth.
The major industry players in the industry are Medtronic, Getinge, Drägerwerk, Hamilton Medical, Philips, ResMed, GE Healthcare and Fisher & Paykel among others. In order to increase the geographical presence and market share, these companies are focusing on major strategies such as partnerships, new product launches, acquisitions, collaborations and production expansions. For instance, in March 2020, Smith Medical increased its production capacity of paraPAC plus ventilators to assist patients affected by coronavirus disease. The production expansion is intended to fulfil the need of 10,000 ventilators to UK government. This move will attract new customers and will further assist in revenue generation.
Europe Mechanical Ventilators Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Market Share, By Product, 2015 – 2026 (USD Million and Units)
- Intensive Care Ventilators
- Portable Ventilators
Market Size, By Interface, 2015 – 2026 (USD Million and Units)
- Invasive Ventilation
- Non-invasive Ventilation
Market Forecast, By Ventilator Type, 2015 – 2026 (USD Million and Units)
- Adult Ventilators
- Neonatal Ventilators
Market Value, By Application, 2015 – 2026 (USD Million and Units)
- Homecare Applications
- Sleep Apnea Therapy
- Clinical Applications
Market Trends, By Mode, 2015 – 2026 (USD Million and Units)
- Combined Mode Ventilator
- Control Mode Ventilator
- Pressure Mode Ventilator
Market Growth, By End-use, 2015 – 2026 (USD Million and Units)
- Ambulatory Surgical Centers
The above information is provided for the following region and countries:
- Czech Republic