Non-invasive Ventilators Market to Grow at a CAGR of 5.9% during the 2022 to 2031 Forecast Period: TMR Study

Wilmington, Delaware, United States, July 26, 2023 (GLOBE NEWSWIRE) — The global non-invasive ventilators market stood at US$ 2.2 billion in 2022 and the global market is projected to reach US$ 3.9 billion in 2031. Global gas sensors are anticipated to expand at a CAGR of 5.9% between 2023 and 2031.

Technological advancements in non-invasive ventilators and portable oxygen concentrators are driving the adoption of these systems globally. Furthermore, rise in number of surgeries performed across the globe is likely to increase the demand for non-invasive ventilators consumables and disposables.

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Rise in demand for non-invasive ventilators due to an increase in complications associated with invasive ventilators among infants and adult patients, globally, is projected to further boost the non-invasive ventilators market.

Life expectancy of people has increased in the last decade. This has led to large population in the above reproducible age group. The immune system of a person weakens with age. Therefore, an increase in geriatric population has led to high risk of contracting diseases in this age group. COPD occurs most often in older people; however, it can also affect the middle-aged population.

Technological innovation and user-friendly approach are the two major factors that drive the demand for critical care non-invasive ventilators, particularly in the developed markets of North America and Europe. However, ease of use, versatility, and extended battery life are key benefits offered by portable non-invasive ventilators that are projected to boost the homecare settings segment during the forecast period.

Key Takeaways of Market Report

• Global non-invasive ventilators market to generate absolute dollar opportunity worth US$ 3.9 billion until 2031.
• Global non-invasive ventilators market is currently valued at US$ 2.2 billion in 2021.
• Global non-invasive ventilators market stood at US$ 2.45 billion in 2023.
• Market value of the global non-invasive ventilators market management from 2018 to 2022 is 4.42%
• North America is said to have a market share of 35%
• Asia Pacific market region is estimated to have a market share of 27.2%

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Global Non-invasive Ventilators Market: Growth Drivers

• Demand for homecare and portable non-invasive ventilators is likely to boost the market. Furthermore, adoption of multifunctional NIV machines is on the rise in emerging markets, which is likely to further propel the non-invasive ventilators market.

Technical advancements in various non-invasive ventilation types have augmented the accuracy and reliability of these systems for diagnosis of respiratory diseases. Moreover, their extensive use in diagnosis of others diseases is likely to fuel the non-invasive ventilators market.

• Rise in awareness and advancements in mechanical ventilators are increasing the treatment rate of chronic respiratory diseases. This, in turn, is expected to propel the usage of latest technology ventilators. The consumables segment is likely to gain market share by the end of 2031. Key players are making significant investments to develop consumables integrated devices to avoid use of external accessories. The two segments are projected to be equally attractive during the forecast period.

Global Non-invasive Ventilators Market: Regional Landscape

• North America accounted for 35% of the global non-invasive ventilators market share in 2021. Supportive reimbursement policies for respiratory care, high rate of adoption of technology, and a rise in the demand for advanced ventilators for home care use contribute to the leading share held by North America in the global non-invasive ventilators market. Surge in the number of tobacco smokers and air pollution is likely to boost the incidence of respiratory diseases and consequently propel the non-invasive ventilators market in the region.
• Market in Asia Pacific is expected to rise at a high growth rate during the forecast period, due to an increase in penetration of players operating in the medical device industry in expanding markets such as China and India. Moreover, high unmet medical needs and a rise in patient awareness in Asia Pacific are expected to propel the non-invasive ventilators market in the region. Increase in awareness about respiratory diseases, improvement in health care infrastructure, rise in healthcare spending, and surge in initiatives undertaken by key players to capture the market are likely to boost the non-invasive ventilators market size in Asia Pacific.

Global Non-invasive Ventilators Market: Key Players

• ResMed completed the acquisition of Propeller Health, a digital therapeutics company that provides connected health solutions for people living with chronic obstructive pulmonary disease (COPD) and asthma.
• Teleflex acquired some assets of Airway Medix S.A., a medical device company renowned for mechanical ventilation, for US$ 11.6 Mn. This acquisition is projected to increase Teleflex’s respiratory product portfolio.

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Global Non-invasive Ventilators Market: Segmentation

• Product Type
  • Systems
  • Non-invasive PPV
  • High Flow Nasal Cannula O2 Delivery
  • Other Non-invasive
  • Consumables
  • Mask
  • Humidifiers
  • PEEP Valves
  • Others (tubes, connectors, and etc.)
• Application
  • Chronic Obstructive Pulmonary Disease
  • Asthma
  • Respiratory Distress Syndrome
  • Pneumonia
  • Others
• End-user
  • Critical Care
  • NICU Care
  • Transport (ambulance)
  • Home Care Settings
• Regions
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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