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Intensive Care Unit (ICU) Ventilators Market to Exceed US$ 3.9 Billion by 2031: Transparency Market Research, Inc. Study

Monday, January 30, 2023 3:33 PM

WILMINGTON, DE / ACCESSWIRE / January 30, 2023 / Transparency Market Research Inc. - The increase in intensive care admissions for respiratory infections in developing and developed countries is propelling the adoption of intensive care unit (ICU) ventilators. The global intensive care unit (ICU) ventilators market is projected to surpass US$ 3.9 Bn by 2031. The surge in the usage of ICU ventilators among patients with COVID-19-related complications has augmented market size.

Transparency Market Research inc., Monday, January 30, 2023, Press release picture

The introduction of high-end ICU ventilators is expected to accelerate the intensive care unit (ICU) ventilators market development. Products that are portable, easy to use, and allow clinicians to monitor pressure, volume, and flow in real-time are gaining traction in various healthcare settings. Additionally, technologically advanced ventilators are equipped with smart algorithms that will help boost patient outcomes. The utilization of high-end ICU ventilators has increased in out-of-hospital settings, including the usage of home ventilation for critically ill patients.

Key Findings of Market Study

  • Extensive Application to Treat Chronic Respiratory Infections: Chronic and acute respiratory infections are a major cause of ICU admissions in hospitals. The rise in morbidity due to chronic respiratory diseases such as asthma among the global population in the past few years has spurred the usage of ICU ventilators in hospitals. An increase in the adoption of high-end ICU ventilation among patients with stroke and brain injury is anticipated to generate substantial opportunities for companies in the market.
  • Rise in Demand for ICU Ventilators among Elderly Population: Rapidly aging population in several countries is a key factor that has broadened the market outlook. The U.S., Japan, and Italy are notable countries with sizable patient populations suffering from acute respiratory infections in ICUs. Governments in developed countries are investing significantly to improve critical care services. A surge in demand for ventilators for the geriatric population in hospital ICUs can be ascribed to a rise in the incidence of chronic diseases such as neurological conditions and cardiovascular disorders.

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Key Drivers

  • A rise in the number of elderly people admitted to hospital ICUs in several countries is a key trend in the market likely to create attractive opportunities for companies
  • The surge in the prevalence of chronic respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD) is a key driver of the intensive care unit (ICU) ventilators industry
  • An increase in investment in hospital infrastructure is expected to accelerate market growth

Regional Growth Dynamics

  • North America is projected to account for a major market share during the forecast period from 2022 to 2031. The substantial health burden of chronic respiratory diseases such as asthma and COPD is a key factor expected to propel the market in North America.
  • The market in Asia Pacific is projected to expand at a rapid pace from 2022 to 2031. An increase in the elderly population is a key market trend anticipated to propel the industry in the Asia Pacific. The rise in private and public investment in healthcare infrastructure is likely to present significant business opportunities in the region.

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Competition Landscape

Several companies strive to launch and commercialize high-end ICU ventilators in order to gain market share. Prominent companies in the intensive care unit (ICU) ventilators market are

  • Stryker,
  • Siemens Healthcare GmbH,
  • Medtronic,
  • Abbott,
  • Koninklijke Philips N.V.,
  • GE HealthCare,
  • Hamilton Medical,
  • Drägerwerk AG & Co. KGaA, and Getinge AB.

Intensive Care Unit (ICU) Ventilators Market Segmentation

  • Type
    • High-end ICU Ventilators
    • Mid-end ICU Ventilators
    • Basic-end ICU Ventilators
  • End-user
    • Hospitals
    • Ambulatory Surgical Centers
    • Others

Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • China
  • India
  • Japan
  • Australia & New Zealand
  • Brazil
  • Mexico
  • GCC Countries
  • South Africa

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Modernization of healthcare in terms of both infrastructure and services has pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Research Reports by Transparency Market Research:

About Transparency Market Research

Transparency Market Research, a global market research company registered in Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Nikhil Sawlani
Transparency Market Research Inc.
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll-Free: 866-552-3453
Email: [email protected]

SOURCE: Transparency Market Research inc.

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