The global medical ventilators market to grow at a CAGR of 6.27% during the period 2017-2021.
This report, Global medical ventilators Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is ventilators with automatic adaptation. The concept of adaptive ventilation was developed to increase patient comfort. Adaptive ventilation changes according to the needs of the patient, breath by breath. In adaptive ventilation, the patient decides the need, and the machine adapts to the need. Vendors are developing new ventilators with automatic adaption.
According to the report, one of the major drivers for this market is increasing prevalence of respiratory disorders. Respiratory disorders have been a major concern among developed as well as developing countries. Various conditions can lead to respiratory disorders such as COPD, asthma, tuberculosis, acute respiratory infection, and lung cancer.
Further, the report states that one of the major factors hindering the growth of this market is limited reimbursement to patients. An individual with respiratory failure on ventilator support has to bear a huge economic burden in a year. The cost can vary according to the respiratory condition and the type of ventilator used for the treatment. The reimbursement for patients on ventilator support is lower than the actual spending. Insurance providers do not cover the reimbursement of backup or additional ventilator for people on ventilation support. Insurance coverage is also subject to conditions set by insurance providers.