Technological advances in microprocessor-controlled ventilation integrated with the complexity of new ventilator modes have provided multidisciplinary teams in healthcare organizations with various opportunities to improve the care of critically ill patients on ventilators. Advanced ventilators are also primed for any type of exigencies and have numerous checks and balances in place. Patient-specific parameters, such as air pressure, air volume, and flow speed, and general parameters, such as air leakage, mechanical failure, power failure, battery backups, oxygen tanks, and remote control, are all equipped with sensors and monitors.

The global Ventilators Market is projected to reach USD 1.9 billion in 2026 from USD 1.4 billion in 2021, at a CAGR of 7.6% during the forecast period.

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Market Segmentation:
The intensive care segment accounted for the largest share of the global ventilator market in 2020. The large share of the intensive care ventilators segment can be attributed to the rising number of intensive care beds equipped with ventilators. Increasing ICU admissions due to COVID-19 and re-admissions in developed countries, coupled with appropriate reimbursements, are also responsible for the large share of the ICU ventilators segment.

Based on type, the ventilator market is segmented into adult/pediatric ventilators segment and neonatal/infant ventilators. The adult/pediatric ventilators segment accounted for the largest share of the market in 2020. The large share of the adult/pediatric ventilators segment can be attributed to the large adult population suffering from COVID-19, the growing incidence of chronic diseases such as COPD & asthma, the growing number of smokers, and the rising geriatric population.

Based on interface, the invasive ventilation segment accounted for the largest share of the Ventilators Market in 2020. Growth in the invasive ventilation market can be attributed to the increasing severity in COVID-19 patients and the rising prevalence of respiratory diseases, neurological diseases, and sleeping disorders.

Based on mode, the combined-mode ventilation segment accounted for the largest share of the market in 2020. The large share of this segment can be attributed to its advantages over conventional pressure-mode ventilation and volume-mode ventilation. The ability of combined-mode ventilation to provide both modes of ventilation markets it a desirable product in the market.

Based on end user, the hospitals & clinics segment is likely to dominate the ventilator market during the forecast period is attributed to the financial capabilities of hospitals to purchase high-priced instruments and the availability of trained professionals to operate ventilators. Market growth is also driven by the rapidly increasing incidence of coronavirus disease. The COVID-19 outbreak has not only created pressure on healthcare resources but has also increased the number of hospital admissions.

Regional Analysis: -
The ventilator market in North America dominated the market in the forecast period. The rising geriatric population, growing number of smokers, high prevalence of respiratory diseases, increasing COVID-19 patient volumes, highly developed healthcare system, high healthcare expenditure, and major market players in the US are the key factors driving the market in North America.

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Top Key Players: -
Prominent players in the Ventilators Market include Koninklijke Philips N.V. (Netherlands), ResMed (US), Medtronic (Ireland), Fisher & Paykel Healthcare Limited (New Zealand), Drägerwerk AG & CO. KGAA (Germany), Nihon Kohden Corporation (Japan), Getinge AB (Sweden), Asahi Kasei Corporation (Japan), Air Liquide (France), Vyaire Medical, Inc. (US), GE Healthcare (US), Hamilton Medical (Switzerland), Smiths Group plc (UK) and Allied Healthcare Products, Inc. (US).