Global artificial ventilation and
anesthesia masks market is expected to reach USD 2,888.8 million by
2022, according to a new report by Grand View Research, Inc. Key factors
attributing to market growth include rising number of operation and emergency
room procedures coupled with growing demand novel products which can be used to
carry out intubation process without removing the oxygen mask. Increase in the
target disease has a direct impact on the number of operation room, emergency
and intensive care procedures and is expected to boost usage rates of
ventilation masks over the forecast period.
Increasing
geriatric population is a major factor increasing the prevalence rate of
several diseases. Additionally, growing prevalence of sleep apnea is one of the
most significant growth drivers for these anesthesia and ventilation masks over
the forecast period.
According to
statistics published by the National Sleep Foundation in 2012, around 40
million Americans were affected by chronic sleep disorders. Furthermore, these
patients are at a high risk of visiting emergency department and intensive care
units, and as a consequence are expected to increase the demand of ventilation
masks in the next seven years.
The market
dynamics indicate that various players operating in this space compete on the
basis of product specification and prices. The technology used to manufacture,
quality of the product, and patient comfort are the key variables expected to
impact the usage of these products. The healthcare providers assess the risk to
the patient and determine the need to use invasive ventilation or non-invasive
ventilation. The use of non invasive masks in accident and trauma cases, lung
failure and other emergency cases is a key factor contributing to the high
usage rates of these products.
The market
is segmented on the basis of application as operation room, intensive care
units, emergency room, dental, and home care. In 2014 operating room held the
maximum share of over 58% for low risk procedures and is expected to be the
largest segment in the next seven years. Increase in insurance penetration,
number of hospitals and dental centers to tap the high unmet needs in emerging
economies is a key factor expected to boost the surgical volume and therefore
these factors are expected to increase the demand for ventilation masks over
the forecast period.
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Further key findings from the study suggest:
- In 2014, North America dominated the overall market with a share of more than 50%. Key factors attributing to its large share include presence of robust healthcare infrastructure, which includes hospitals, emergency and dental centers.
- Furthermore, in the U.S., the Affordable Care Act is a key driver encouraging millions of patients to opt for surgical treatments and utilize other healthcare services, and as a result is expected to boost usage rates of artificial ventilation and anesthesia masks over the forecast period.
- Asia Pacific is expected to be the fastest growing market over the forecast period. Key factors attributing to its high growth are increase in public and private healthcare expenditure to build new hospitals, improve reimbursement scenario which lead to improvement in overall healthcare indicators.
- Additionally, large population affected with various diseases is expected to increase the number of emergency, ICU and operating room procedures and as a result are expected to increase usage rates in these markets.
- Key players operating in the market include Phillips Respironics, ResMed, Fisher & Paykel, CareFusion, Ambu, Drager, and others. These companies have an extensive portfolio of ventilation and CPAP masks.
- Additionally, emergence of new players with novel product offerings such as SuperNO2VA from RMDevices is expected change market dynamics due to its ability to carry out inhalation anesthesia, artificial ventilation and intubation procedure simultaneously.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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