The ventilator breathing circuit market is primarily driven by the growing prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD) and asthma. Ventilator breathing circuits are an integral part of mechanical ventilators that assist patients suffering from respiratory disorders in breathing. They deliver medical gases like oxygen, compressed air or anesthetic gases to the patient during invasive or non-invasive ventilation. Ventilator breathing circuits offer various advantages such as elimination of bacterial infections, minimizing risk of cross-contamination, maintenance of positive end-expiratory pressures and administration of different concentrations of oxygen. The growing geriatric population which is more susceptible to respiratory issues along with rising number of ICU admissions is propelling the demand for ventilator breathing circuits across the globe.
The Global ventilator breathing circuit market is estimated to be valued at US$ 1361.64 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Ventilator Breathing Circuit Companies are Agrana Group, Archer Daniels Midland Company, Bunge Ltd., Cargill Incorporated, Commodity Specialists Company, Grain Processing Corporation, Ingredion Incorporated, Tate & Lyle Plc., Tereos Syral, and The Roquette Group. These players are engaged in new product launches, strategic collaborations and mergers to gain competitive edge in the market.
The rising prevalence of respiratory diseases due to growing pollution levels and smoking population presents significant growth opportunities in the Ventilator Breathing Circuit Market Growth. Furthermore, increasing healthcare spending and demand for advanced medical devices from emerging countries will boost the market expansion during the forecast period.
Growing awareness regarding benefits of ventilation therapies and rising geriatric population base globally is fueling the adoption of ventilator breathing circuits. Additionally, increasing investments by major players for expanding their geographical presence especially in developing regions will drive the ventilator breathing circuit market growth.
Market drivers:
The primary driver augmenting the ventilator breathing circuit market is increasing incidence of respiratory disorders. As per the Global Burden of Disease Study 2019, COPD affected over 251 million people worldwide and caused over 3 million deaths. Such rising disease burden is driving the demand for ventilator breathing circuits from hospitals and ICUs. Furthermore, growing COVID-19 pandemic has significantly increased the demand for mechanical ventilators and associated breathing circuits for effective management of critically ill patients.
PEST Analysis
Political: Regulations regarding healthcare and medical devices play a major role in the ventilator breathing circuit market. Governments introduce new guidelines and standards to ensure patient safety. This affects product development cycles and manufacturing processes.
Economic: The overall economic growth impacts the healthcare spending of nations. Increased expenditure on critical care units and intensive care expands the demand for ventilator breathing circuits from hospitals and ICUs. Economic slowdowns can lower such investments.
Social: Aging populations worldwide are more susceptible to chronic diseases requiring ventilator support. Longer life expectancies drive the need for respiratory care products. Growing health awareness also increases the social priority given to quality critical care access.
Technological: Advancements in material sciences facilitate development of improved circuits with better biocompatibility and resistance to contamination. Integration of sensors and interfaces aid remote monitoring of patients on ventilator support.
North America dominates the global ventilator breathing circuit market in terms of value. This is attributed to factors such as the large base of respiratory product manufacturers, rising incidence of respiratory disorders, growing geriatric population, and high healthcare spending in the United States and copyright.
The Asia Pacific region is poised to be the fastest growing market for ventilator breathing circuits during the forecast period. This growth can be credited to increasing investments to strengthen healthcare infrastructures, rising medical tourism, growing populations and GDPs of nationssuch as China and India presenting more patients and consumers.
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Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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