Global respiratory ventilators and resuscitators market will surpass $1.2 billion by 2023

Global respiratory ventilators and resuscitators market will surpass $1.2 billion by 2023

The global market for respiratory ventilators and resuscitators is set to rise from around $990 million in 2016 to over $1.2 billion by 2023, representing a steady compound annual growth rate of 3.2 per cent, according to research and consulting firm GlobalData.

The company’s latest report states that the growth of elderly populations means the need for respiratory ventilators and resuscitators is growing rapidly across the 15 major markets of the US, France, Germany, Italy, Spain, the UK, Japan, Australia, Brazil, Canada, China, India, Mexico, Russia, and South Korea. Indeed, the huge geriatric population base suffering from diseases such as chronic obstructive pulmonary disease (COPD) is the primary driver of the respiratory ventilations and resuscitators market, and continues to expand due to the endurance of smoking and poor air quality.

Tina Deng, GlobalData’s Analyst covering Medical Devices, notes: “Ventilators are highly involved with the diagnostic and therapeutic areas for acute and chronic respiratory diseases, as they reduce mortality risk in patients with diseases such as COPD, who also experience improvement in quality of life and exercise capacity.”

Other drivers include the growing number of critical care admissions, technological innovations, and UN global initiatives and government support.

Respiratory system diagnosis with ventilator support is the primary intensive care unit (ICU) admission diagnosis. As the need for intensive care continues to increase, the ratio of ICU beds to hospital beds will continue to rise as the ICU plays an ever-larger role at the center of acute hospital care, meaning the need for mechanical ventilation will increase.

Deng continues: “In terms of technology, ventilators are increasingly able to effectively ventilate different age groups in all healthcare settings, and are becoming integrated with color touch-screen displays, data management systems, and ventilator management protocols. In this way, as intensive care ventilators have similar core functionality nowadays, advanced modes and functions are more important as differentiating factors for purchasers, and manufacturers must remain innovative.

“Finally, the efforts to improve emergency neonatal care through the UN Commission have driven the increase of resuscitator usage. The commission identified neonatal resuscitation as one of 13 key strategic, cost-effective interventions that can prevent and reduce child mortality, with training programs such as Helping Babies Breathe improving both global and facility-level availability of resuscitation devices.”

Source: Global data – read the report

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