In the arena of healthcare, the number of days that a patient is spending in the hospital is declining. However, the number of days the patients are spending on ventilator has increased, both in the home care settings and in the intensive care. The reasons for this include increasing geriatric population, especially in the developed and industrialized countries and due to the increasing frequency of epidemic events like SARS and AIDS. Hence, it is essential to know how the ventilators will perform and what to expect from ventilators. It is also important to know how each mode in a ventilator will perform in real-world conditions. This is important for the caregivers and medical staff because they should be in the loop and knowing when the ventilator malfunctions. It is in this context that ventilator testing systems are being employed. Such kind of ventilator testing system monitor the various parameters of a ventilator like peak and peep pressure, stacked volume, oxygen concentration, etc. Also, the ventilator testing systems are used to measure the respiratory rate and flow of oxygen, air and nitrous oxide.
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As per the forecast of Persistence Market Research, the global ventilator test system market is estimated to reach a valuation of US$ 199.2 Mn in 2026 and is poised to reflect a sluggish CAGR in the period of forecast.
4 Significant Insights on Global Ventilator Test System Market
- It is estimated by Persistence Market Research that the neonatal ventilators segment is expected to reach a valuation of about US$ 40 Mn by 2026 end. This is entailing a CAGR growth that is sluggish during the period of forecast 2017-2026. Also, as per our assessment, the neonatal ventilators segment is anticipated to possess more than one-fifth of the total share of the revenue of the ventilator type category by the end of year 2017. This segment is expected to lose in the terms of market share by 2026 as compared with the year 2017.
- The home care segment is anticipated to touch a valuation of nearly US$ 21 Mn by 2026 end. This signifies a moderate CAGR growth during the forecast period. Home care is becoming popular in the healthcare sector as there is a rise in the geriatric population and increasing incidences of chronic diseases. Home is also economical in nature and reduces the costs of healthcare. Hence, more and more number of patients who are in the need of breathing assistance in the form of ventilators, are installing ventilators at their home.
- The invasive ventilator interface segment is expected to touch a valuation of nearly US$ 73 Mn by 2026 end. The invasive ventilator interface segment is anticipated to gain in terms of market share by 2026 end. The invasive form of ventilator interface is used for patients with respiratory difficulties and can be a lifesaving option for such kind of patients. Such invasive ventilator systems are used in the surgeries and when the patient is in ICU.
- Persistence Market Research forecasts the US ventilator test systems market to grow from US$ 39.1 Mn in 2017 to US$ 51 Mn in 2026. This signifies a compound annual growth rate (CAGR) of 3% from 2017 to 2026.
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This report has also information on some of the major companies functioning in the global ventilator test systems market like Philips North America LLC, Instrumentation Industries, Inc., TSI Inc., Magnamed Tecnologia Medica S A, Fortive Corporation, IngMar Medical Limited, USCOM Ltd., SunMed LLC, Datrend System Ltd., Seaward Electronic Ltd. and Michigan Instruments, Inc.