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Non-Invasive Ventilators Market Report 2024 - Non-Invasive Ventilators Market Size, Growth, And Forecast
Non-Invasive Ventilators Market
According to The Business Research Company's, The non-invasive ventilators market size has grown strongly in recent years. It will grow from $2.82 billion in 2023 to $2.99 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to hospital infrastructure development, prevalence of sleep-related breathing disorders, patient preference for non-invasive methods, respiratory therapy advancements, aging population.
The non-invasive ventilators market size is expected to see strong growth in the next few years. It will grow to $3.86 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to home-based ventilation solutions, preventive healthcare practices, pulmonary rehabilitation programs, awareness and education initiatives, climate change and air quality concerns. Major trends in the forecast period include portable and wearable devices, integration of smart technologies, remote patient monitoring and telehealth integration, invasive to non-invasive ventilation, technological innovations in ventilation modes.
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Market Drivers and Trends:
The high prevalence of respiratory diseases is expected to propel the growth of the non-invasive ventilator market going forward. Respiratory diseases are the diseases that are responsible for lung disorders that include asthma, and chronic lung diseases. Non-invasive ventilators help the patient treat respiratory illnesses by pumping oxygen into the lungs when they are not able to do that themselves. For instance, in September 2022, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations responsible for international public health, chronic noncommunicable diseases (NCDs) would result in the deaths of around 41 million individuals annually, which accounts for 74% of all deaths worldwide. Chronic respiratory diseases alone are responsible for causing 4.1 million deaths. Therefore, the high prevalence of respiratory diseases drives the non-invasive ventilator market.
Technological advancements are a key trend gaining popularity in the non-invasive ventilator market. Companies operating in the non-invasive ventilator market are adopting new technologies to sustain their position in the market. For instance, in November 2023, Inspiration Healthcare Group plc, a UK-based provider of medical technology, launched the SLE1500 is the latest addition to the neonatal ventilator range, designed to provide non-invasive ventilation modes for the smallest and most fragile babies, ensuring respiratory support while protecting their delicate lungs. The SLE1500 system consolidates six non-invasive delivery options into a single machine. These include nasal Continuous Positive Airway Pressure (nCPAP) in both flow and pressure control modes, high-flow oxygen therapy, and manual flow for use with therapies such as bubble CPAP. All of these options can be enhanced with Pulse Oximetry (SpO2) and/or automatic oxygen control (auto FiO2) using the OxyGenie.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
ResMed Inc.; Teleflex Incorporated; Hamilton Bonaduz AG; HEYER Medical AG; Airon Corporation; Fisher & Paykel Healthcare Limited; Smiths Medical International Ltd.; O-Two Medical Technologies Inc.; Phoenix Medical Systems Pvt. Ltd.; Koninklijke Philips N.V.; Dragerwerk AG & Co. KGaA; General Electric Healthcare Co.; Magnamed Tecnologia Medica S/A; WILAmed GmbH; Mindray Medical International Limited; Vyaire Medical Inc.; GETINGE AB; Medtronic plc; Respironics Inc.; medin Medical Innovations GmbH; Comen Medical Instruments Co. Ltd.; Löwenstein Medical Technology GmbH + Co. KG; aXcent medical GmbH; Tenko Medical Systems Corp.; Beijing Aeonmed Co. Ltd.; MEKICS Co. Ltd.; Sefam Medical; Becton Dickinson and Company; Allied Healthcare Products Inc.; Air Liquide Medical Systems; Pulmodyne Inc.; Bunnell Incorporated
Non-Invasive Ventilators Market 2024 Key Insights:
• The non-invasive ventilators market will grow to $3.86 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Rising Prevalence Of Respiratory Diseases Fuels Growth In The Non-Invasive Ventilator Market
• Advancements In Technology Transforming The Non-Invasive Ventilator Market
• North America was the largest region in the non-invasive ventilators market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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