Report: The global market for respiratory ventilators and resuscitators to reach $1.2bn by 2023

17 November 2016 (Last Updated November 22nd, 2018 11:20)

Growth of the elderly population is anticipated to drive demand in the global respiratory ventilators and resuscitators market, according to a report by GlobalData.

Growth of the elderly population is anticipated to drive demand in the global respiratory ventilators and resuscitators market, according to a report by GlobalData.

Titled “MediPoint: Respiratory Ventilators and Resuscitators”, the report forecasts the global market for respiratory ventilators and resuscitators to increase at a compound annual growth rate of 3.2%.

The report covers 15 major markets including the US, France, Germany, Italy, Spain, the UK, Japan, Australia, Brazil, Canada, China, India, Mexico, Russia and South Korea. A growing number of elderly populations in these countries are suffering from diseases such as chronic obstructive pulmonary disease (COPD), thereby, driving the demand for respiratory ventilators and resuscitators.

"Other factors driving the demand for ventilators include critical care admissions, new product innovations, and government and UN global initiatives."

Ventilators play a vital role in reducing mortality risk in patients with COPD. In addition, the primary intensive care unit (ICU) admission diagnosis includes ventilator support. Demand for ventilators, therefore, will increase as need for intensive care continues to grow. Other factors driving the demand for ventilators include critical care admissions, new product innovations, and government and UN global initiatives.

Demand for resuscitators is being driven by the UN Commission’s efforts to improve emergency neonatal care. The commission has identified neonatal resuscitation as one of 13 cost-effective methods to prevent and reduce child mortality.

Innovation and variety of functions in ventilators will be the main differentiating factors for manufacturers and purchasers. Manufacturers are including a number of features in ventilators to effectively ventilate different age groups. Some of these features include colour touch-screen displays, data management systems, and ventilator management protocols.