Mechanical Ventilator Market Segmentation:
Product Segment Analysis
The intensive care ventilator segment is expected to dominate the mechanical ventilator market, with an estimation of 38% by 2035. This growth is due to increasing demand for high-performance ventilator for critical care patients who require continuous and precise respiratory support. These factors justify the need for intensive care ventilator to manage severe respiratory conditions, particularly in an ICU setup where the prognosis of the patients is under close observation. In October 2023, Movair introduced Luisa, an advanced ventilator both for hospital and home care. Such product developments are a testament to the growing importance of intensive care ventilator in the market.
Ventilation Mode Segment Analysis
The non-invasive ventilation segment is anticipated to continue its dominance in the mechanical ventilator market and account for 53% of the total revenue share by 2035. The growth of the segment is predetermined by the growing preference toward non-invasive methods that have fewer complications and more comfort for patients. Non-invasive ventilation is helpful for patients at the stage of mild and moderate respiratory distress to avert invasive procedures such as the insertion of intubation. In August 2023, Getinge received FDA approval for its non-invasive mechanical ventilator, the Servo-air Lite, which indicates rising demand for treatment modes that are less invasive and solidifying dominance in the segment.
Component Segment Analysis
The devices segment is likely to lead the mechanical ventilator market with a share of 61% during the forecast period. This is because manufacturers are continuously deploying innovative technologies in ventilator and launching new products. Easy operation, high performance, and long life of ventilator with the latest technology have led to an increased focus by manufacturers on developing such devices to meet the requirements of patients with diverse natures.
In February 2023, Getinge launched its Servo-c ventilator, designed with modular parts to enable better functionality and allow a reduction in the cost of operation. This launch highlights the importance of this segment in the market, given that ventilator technology is continuously changing so that it meets different needs in today's health settings.
Our in-depth analysis of the mechanical ventilator market includes the following segments
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