Home Care Ventilators Market Boosting the Healthcare Industry Worldwide
Home Care Ventilators Market: Overview
Ventilation is a biological process which refers to the breathing in of oxygen and breathing out of carbon dioxide. Ventilator is a device which helps a patient to breathe in oxygen or breathe out carbon dioxide, entirely or partially. A ventilator can be administered non-invasively or invasively to a patient. An invasive ventilator is administered to a patient through endotracheal tube through nose, mouth, or tracheostomy tube. A non-invasive ventilator is administered through nasal mask over the mouth or nose. Currently, ventilators available in the market are volume based or pressure based. Home care ventilators are exclusively used in home care settings.
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Home Care Ventilators Market: Key Trends
The global home care ventilators market is projected to be driven by increase in incidence of respiratory diseases across the world and rise in preference for home care ventilation for newborn and geriatric populations. Additionally, increase in health care infrastructure and health care reimbursement is anticipated to boost the growth of the global home care ventilators market during the forecast period. However, technical failures of home care ventilators and stringent regulatory landscapes are expected to hamper the growth of the global market in the near future. Moreover, technological advancements, increase in research and development expenditure by key players, and strategic alliances by companies are likely to propel the global home care ventilators market during the forecast period.
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Home Care Ventilators Market: Segmentation
The global home care ventilators market can be segmented based on product, type of therapy, application, target user, and region. In terms of product, the market can be divided into instruments and accessories. Based on type of therapy, the global home care ventilators market can be bifurcated into non-invasive and invasive. The non-invasive segment is projected to expand at a higher CAGR during the forecast period. In terms of application, the market can be classified into respiratory diseases, spinal cord injuries, neuromuscular disorders, and others. The respiratory diseases segment is anticipated to capture the largest market share due to high number of cases of COPD among the geriatric population across the world. Based on target user, the global home care ventilators market can be categorized into pediatric, adults, and geriatric.
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Home Care Ventilators Market: Regional Analysis
Geographically, the global home care ventilators market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to capture the largest share of the global market in 2018, owing to increase in demand for ventilators for long term home care and technological advancements. Rise in incidence of COPD and other respiratory diseases in Eastern Europe and presence of key companies are attributed to Europe’s high market share in 2018. Germany, France, and the U.K. accounted for major shares of the home care ventilators market in the region in 2018. The market in Italy and Spain is expected to expand at a high CAGR during the forecast period. Highly developed health care industry, high rate of diagnosis and treatment of COPD and other respiratory diseases, strong research and development, and participation of small companies contributed to the prominent market share of Germany, France, and the U.K. in 2018.
China and Japan held dominant shares of the home care ventilators market in Asia Pacific in 2018. The market in India is expected to expand at a high CAGR during the forecast period, owing to high geriatric population, developing health care system, and presence of well-established domestic players. Underdeveloped health care infrastructure is likely to hamper the growth of the home care ventilators market in Latin America and Middle East & Africa during the forecast period.
Home Care Ventilators Market: Competitive Landscape
Key players in the global home care ventilators market are The Linde Group, Medtronic, Fisher & Paykel Healthcare Limited, ResMed, Vyaire Medical, Inc. (part of BD), EmdaMed B.V., and Smiths Group plc, among others.
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