Global Ventilator Accessories Market is estimated to be USD 2.2 Billion by 2029 with a CAGR of 4.7%
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Technological innovations in respiratory care devices adds to the market expansion. The advent of cost-effective, patient-friendly, and portable devices further boosts their usage
The global ventilator accessories market accounted for US$ 1.5 billion in 2020 and is estimated to be us$ 2.2 billion by 2029 and is anticipated to register a CAGR of 4.7%.
The report "Global Ventilator Accessories Market, By Product Type (Flow Sensors, Breathing Sets, Expiratory Valves, Endotracheal Tubes, Breathing Circuits, Humidifiers, Interfaces and Masks, and Others), By End User (Hospitals, Ambulatory Surgery Centers, Clinics, Emergency Medical Services, and Long Term Care Centers), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.
On March 2020, Siemens Healthcare started its additive manufacturing network for production of medical equipment in response To Covid-19 Pandemic. The company’s network connects designers, users, and 3D-print service providers to allow faster and less complicated production of spare parts for machines like ventilators. The Siemens AM network is present globally and covers the entire value chain – from upload and simulation to checking the design up to the printing process and associated services.
On April 2020, ResMed expands its ventilator output to meet global demand. ResMed- the medical device maker is looking to double or triple the output of ventilators, and scale up ventilation mask production more than tenfold to meet surging demand from hospitals treating critically ill COVID-19 patients gobally.
High prevalence of chronic respiratory diseases
Rising cases of chronic obstructive pulmonary disease (COPD) and respiratory emergencies are the major factors driving the global Ventilator Accessories market growth. According to data published by the World Health Organization (WHO) in 2017, 65 million people suffer from moderate to severe COPD, leading to 3 million deaths. COPD is the third most deadly disease worldwide. Growing cases of bronchitis, asthma, and COPD are due to increase in air pollution levels. WHO reports that 9 out of 10 people are breathing air having a high concentration of pollutants. Further, as per the data stated by United Nations in 2018, the global geriatric population was about 809.4 million, and by 2050 it is expected to rise more than double to reach an projected population of over 2,000 million. The geriatric population is linked with various respiratory severe disorders that needs continuous long term ventilation.
Supportive government initiatives
Supportive government initiatives, especially in developing countries, will boost the target market development. Key players and Manufacturers in emerging economies, such as India and China, are focusing on creating non-invasive, cost-efficient ventilation systems to meet the local needs and provide flexibility in patient care. Developments, in terms of design, efficiency, and safety resulted in substantial benefits, such as better gas exchange, improved weaning, better oxygenation, and lower damage to the lungs.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Ventilator Accessories Market”, By Product Type (Flow Sensors, Breathing Sets, Expiratory Valves, Endotracheal Tubes, Breathing Circuits, Humidifiers, Interfaces and Masks, and Others), By End User (Hospitals, Ambulatory Surgery Centers, Clinics, Emergency Medical Services, and Long Term Care Centers), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030
Key Market Insights from the report:
The global ventilator accessories market accounted for US$ XXX.X billion in 2020 and is estimated to be XXX.X billion by 2029 and is anticipated to register a CAGR of XX.X%. The market report has been segmented on the basis of product type, end-user, and region.
By product type, the global ventilator accessories market is segmented into flow sensors, breathing sets, expiratory valves, endotracheal tubes, breathing circuits, humidifiers, interfaces and masks, and others.
By end-use, hospital segment is dominating the target market due to high prevalence of chronic respiratory diseases globally.
By region, Asia Pacific is estimated to be the most lucrative regional market for ventilator accessories due to growing cases of chronic respiratory diseases, increasing tax benefits and healthcare expenditure offered by the regional governments. Additionally, improved healthcare policies and infrastructural development promoting better care provision will boost the regional market over the forecast period.
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