Respiratory Ventilator Tester Market Research Report 2021-2031
The Respiratory Ventilator Tester Market size is projected to reach US$ 231.54 million by 2031 from US$ 170.93 million in 2023. The market is expected to register a CAGR of 3.8% in 2023–2031. The increasing prevalence of respiratory diseases, growing demand for ventilator testers in hospitals, and technological advancements in ventilator testers for measuring the vital parameters are likely to remain key Respiratory Ventilator Tester market trends.
Respiratory Ventilator Tester Market Analysis
The escalating burden of respiratory diseases and the increasingly ageing population prone to several respiratory ailments is augmenting the market growth. For instance, according to the data published in Jama Network Open article in December 2023, COPD prevalence in 2020 among both males and females, was estimated to be 10.6%, which is approximately 480 million cases. The COPD cases were projected to increase by 112 million to a total of 592 million by 2050, especially among females and low-middle income regions. Thus, the huge burden of COPD, which is one of the major respiratory diseases is projected to increase the overall demand for its treatment and will require ventilator testers, thereby boosting the market for respiratory ventilator testers over the forecast period.
Respiratory Ventilator Tester Market Overview
North America is the largest market for Respiratory Ventilator Tester market growth with the US holding the largest market share followed by Canada. Factors such as the increasing prevalence of respiratory disorders, technological advancements in the medical device industry, and escalating aging population prone to several respiratory diseases are anticipated to further propel the overall North American Respiratory Ventilator Tester market. For instance, according to the article published in Aging and Disease in August 2023, respiratory infections were a significant health problem among the aging population, particularly during the COVID-19 pandemic in 2020. The increased mortality and morbidity rates were observed mostly among the elderly population above 65. The normal aging process among the aging population in the lungs increases vulnerability to respiratory infections due to cellular damage and senescence accumulation. Hence, the rising aging population suffering from respiratory infections will demand ventilator tester which is further driving the North American Respiratory Ventilator Tester market.
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Respiratory Ventilator Tester Market: Strategic Insights
Market Size Value in US$ 148.00 Million in 2019 Market Size Value by US$ 199.20 Million by 2027 Growth rate CAGR of 3.8% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Respiratory Ventilator Tester Market: Strategic Insights
| Market Size Value in | US$ 148.00 Million in 2019 |
| Market Size Value by | US$ 199.20 Million by 2027 |
| Growth rate | CAGR of 3.8% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Respiratory Ventilator Tester Market Drivers and Opportunities
Rising Prevalence of Respiratory Disorders Demanding for Respiratory Ventilator Tester System Favors the Market
The rising prevalence of chronic respiratory diseases, such as chronic obstructive pulmonary disease (COPD), and asthma is expected to drive the demand for respiratory ventilator testers. Moreover, factors such as urbanization and industrial expansion have resulted in increased air pollution leading to more respiration infections. During the pandemic, the demand for these respiratory ventilators was further emphasized in treating severe respiratory disorders. This surge in demand has driven up the need for critical care services and equipment such as ventilator testers, which in turn is boosting the overall respiratory ventilator testers market growth.
Technological Advancements in the Respiratory Ventilator Tester– An Opportunity in the Respiratory Ventilator Tester Market
The respiratory ventilator tester market includes the production, distribution, and utilization of specialized testing equipment intended for measuring the performance and accuracy of respiratory ventilators. These testers are vital devices used to evaluate the functionality, safety, and compliance of ventilator systems used in healthcare facilities such as hospitals, clinics, and emergency departments. It helps to simulate various respiratory conditions to ensure that ventilators deliver the appropriate respiratory rates, tidal volumes, and oxygen concentrations. Advancements in these devices such as the development of portable, automated, and user-friendly tester systems with advanced measurement capabilities and data analysis tools are driving the market growth. Companies are launching new products with new advancements. For instance, in March 2023, Vitalograph, a developer and producer of respiratory diagnostic devices launched its VitaloPFT Pulmonary Function Testing Series for use in secondary care. Respiratory ventilator testers play an important role in regulatory compliance, quality assurance, and patient safety by sensing potential malfunctions, calibration errors, and performance deviations. Hence, the increasing advent of ventilator technologies is expected to boost the overall respiratory disease tester market.
Respiratory Ventilator Tester Market Report Segmentation Analysis
Key segments that contributed to the derivation of the respiratory ventilator tester market analysis are product, application, and end users.
- Based on product, the Respiratory Ventilator Tester market is segmented into portable, desktop, and others. The portable held a larger market share in 2023. The major share can be attributed to the increasing adoption of portable respiratory ventilators due to their ease of usage and portability features.
- By application, the market is segmented into Anesthesia Gas Delivery Machine Testing, Oxygen Concentrator Testing, and Others. The anesthesia gas delivery machine testing segment held the largest share of the market in 2023.
- By end user, the market is segmented into Hospitals and Specialty Clinics, Ambulatory Surgical Centers, Home Care Settings, and Others. The hospital and specialty clinics segment held the major market share in the year 2023.
Respiratory Ventilator Tester Market Share Analysis by Geography
The geographic scope of the Respiratory Ventilator Tester Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the Respiratory Ventilator Tester Market. The market growth can be attributed to the rising prevalence of respiratory diseases, advancements in ventilation systems in hospitals, and the rapidly growing medical device industry. Additionally, the demand for a respiratory ventilator tester in homecare settings and its increased adoption in the coming years due to the increasing burden of respiratory diseases is further anticipated to boost the respiratory ventilator tester market in North American countries.
Respiratory Ventilator Tester Market Report Scope
Respiratory Ventilator Tester Market News and Recent Developments
The Respiratory Ventilator Tester Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Respiratory Ventilator Tester:
- Armstrong Medical – a UK manufacturer of respiratory products for use in critical care and perioperative settings will be joining the ABHI UK Pavilion at MEDICA 2021 to launch its therapy-enhancing heated ventilator circuits. (Source: Armstrong Medical, Press Release/Company Website/Newsletter, October 2021)
- Superior Sensor Technology announced a proprietary pressure sensor technology that improves the response time and eliminates the impact of system noise in ventilators and high-flow oxygen equipment, enabling the reduction of patient-ventilator dyssynchrony. (Source: Superior Sensor Technology, Press Release/Company Website/Newsletter, March 2023)
Respiratory Ventilator Tester Market Report Coverage and Deliverables
The “Respiratory Ventilator Tester Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; Application ; End-user and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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