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Cranfield, UK, 16th July 2024 – We have created an infographic showcasing the projected market growth for the ventilator product market for the next 5 years. The insight also provides an overview of the current competitive landscape and key trends shaping the market. This infographic gives a snapshot of the insights within our Ventilators market report 2024. Click the button below to download a PDF version of the infographic.
Market Overview
The post-pandemic climate, economic conditions and the changing competitive landscape led to a further decline in the global ventilator market revenues in 2023. A rebound is projected within the forecast period allowing the market to reach pre-pandemic levels in many regions and product segments by 2028. The overall ventilator market is projected to grow at a 4.6% CAGR from 2023 to 2028.
The Mid-Range product segment (part of critical care ventilators) is projected to see the fastest revenue growth due to its growing acceptance in developed regions, and the expansion of ventilation provision in the developing regions. The Transport & Emergency segment is also projected to see faster growth driven by a recovery post-pandemic particularly in transport and military ventilators.
Competitive Landscape
In the wake of the pandemic, the competitive landscape of the ventilator market has presented a set of formidable challenges, necessitating vendors to exhibit adaptability and strategic foresight. In addition to the slowdown observed in the post-pandemic period, persistent obstacles such as a global economic downturn, ongoing geopolitical conflict, and substantial increases in the costs of the manufacturing process have created a somewhat hostile environment for vendors.
This has been pronounced through the recent decisions and developments of vendors such as Philips, Medtronic and now Vyaire. Such substantial changes raise important questions about the future direction of the ventilator market and its key players. How will these exits reshape the competitive landscape, and which companies are poised to capitalise on the emerging opportunities?
Related Research
Signify Research has recently published its ‘Ventilators—World—2024’ report. This iteration expands on last year’s offering, now including additional country breakouts, further segmentation of the Transport & Emergency segment, and market share analysis for Non-Invasive ventilators.
About The Author
Sam Wilson joined Signify Research in 2023 as a Market Analyst within the Clinical Care team. He brings experience working as an Economist for the Intellectual Property Office, creating strategy reviews and impact evaluations, used to aid government trade negotiations. Sam holds a first-class bachelor’s degree in economics from Loughborough University, where modules included topical issues such as healthcare. Away from the office Sam enjoys staying active with dog walks, football and cricket, and his interest in volunteering took him on a charity visit to Ethiopia.
About the Clinical Care Team
The clinical care team provides market intelligence and detailed insights on the clinical care equipment and IT markets. Our areas of coverage include patient monitoring, diagnostic cardiology, infusion pumps, ventilators, anaesthesia devices, and high-acuity IT. Our reports provide a data-centric and global outlook of each market with granular country-level insights. Our research process blends primary data collected from in-depth interviews with healthcare professionals and technology vendors, to provide a balanced and objective view of the market.
About Signify Research
Signify Research provides healthtech market intelligence powered by data that you can trust. We blend insights collected from in-depth interviews with technology vendors and healthcare professionals with sales data reported to us by leading vendors to provide a complete and balanced view of the market trends. Our coverage areas are Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences and Healthcare IT.
Clients worldwide rely on direct access to our expert Analysts for their opinions on the latest market trends and developments. Our market analysis reports and subscriptions provide data-driven insights which business leaders use to guide strategic decisions. We also offer custom research services for clients who need information that can’t be obtained from our off-the-shelf research products or who require market intelligence tailored to their specific needs.
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