The Global High Flow Ventilators Industry is poised for significant growth, driven by rising Chronic Obstructive Pulmonary Disease (COPD) cases and increasing adoption in hospitals and ambulatory surgery centers, according to a new report by Future Market Insights (FMI). The market is expected to reach a value of US$67.6 billion by 2032, reflecting a robust Compound Annual Growth Rate (CAGR) of 10% from 2022 to 2032.
The high-flow ventilators market has been on an upward trajectory, with a projected market value of US$ 27 billion in 2022, surpassing the US$ 25 billion mark recorded in 2021. This growth is attributed to the increasing prevalence of Chronic Obstructive Pulmonary Disease (COPD) and hospitals and ambulatory surgery centers’ widespread adoption of High-Flow Ventilators.
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Ventilators are critical life-support devices that provide patients with respiratory therapy. High-flow ventilators are a form of respiratory support device that uses a nasal cannula to provide a high-flow oxygen blend, making them ideal for severe respiratory disorders. High-flow ventilators are also commonly used to treat hypoxemic respiratory failure. During the projection period, the high prevalence of COPD cases is expected to drive the market’s rapid rise.
The increased frequency of respiratory illnesses, particularly COPD cases, and the growing worldwide elderly population will have a substantial impact on the Global High Flow Ventilators Industry between 2022 and 2032. In response to the increasing number of surgeries, demand for inexpensive and high-end critical care technology is likely to fuel market expansion. The importance of hospitals and medical emergency services adds to the demand for High-Flow Ventilators.
The market for High-Flow Ventilators is driven by a variety of end-use segments, including hospitals, ambulatory surgical centers, specialized clinics, long-term care facilities, and others. Hospitals are likely to be the most important contributors to the growth of the Global High Flow Ventilators Industry during the forecast period.
“High prevalence of COPD cases, as well as other respiratory conditions, will likely propel the global growth of the Global High Flow Ventilators Industry over the forecast period,” says an FMI analyst.
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Global High Flow Ventilators Industry Key Takeaways:
- Budget constraints and stringent regulations may hinder the market growth of high-flow ventilators.
- The market for high-flow ventilators will benefit from increased demand for inexpensive and innovative technologies in critical care.
- North America held the biggest market share in 2018 and is expected to maintain this trend over the forecast period.
- Due to an increase in respiratory diseases and expanding medical tourism, Asia Pacific is expected to emerge as a profitable market for high-flow ventilators.
Competitive Landscape from the Global High Flow Ventilators Industry
ResMed, Hamilton Medical, HERSILL, S.L., Tecno-Gaz S.p.A., and Essex Industries, Inc., among others, are some of the major players in the Global High Flow Ventilators Industry profiled in the full version of the report.
Leading market players are focusing on dynamic business strategies to strengthen their market position. These businesses are adopting both organic and inorganic tactics like collaborations and partnerships to expand their product portfolio. Market players are keen on integrating advanced technologies into their products to ensure rapid growth.
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Global High Flow Ventilators Industry: Segmentation
Based on the Modality Type
- Portable High Flow Ventilators
- Trolley Mounted High Flow Ventilators
Based on End Users
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Long-Term Care Centers
- Others
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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