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Medical Ventilators Market Size, Growth, Forecast to 2033 | FMI

The latest market research conducted by Future Market Insights (FMI) predicts significant growth in the Global Medical Ventilators Industry. In 2023, the market is anticipated to be valued at US$ 1.7 billion, with a projected annual growth rate of 9.1% between 2023 and 2033, ultimately surpassing the US$ 4 billion mark by 2033.

The surge in construction activities and industrialization, driven by rapid urbanization, has led to an alarming increase in carbon emissions over the past few years. Consequently, there has been a notable rise in the incidence of respiratory diseases, such as COPD and asthma, among the population. This alarming trend has created a substantial demand for medical ventilators to address respiratory health issues.

The impact of the COVID-19 pandemic has further accelerated market growth. As a result of viral infections, many patients have required ventilator support. In response, governments around the world have made significant investments in medical ventilator procurement. For instance, in April 2020, the United States government entered into a US$ 1.1 billion contract with General Health and Philips to bolster ventilator supplies. Additionally, in the same month, the United Kingdom secured 300 new ventilators from China.

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The market has been witnessing technological advancements of late. The manufacturers have been enhancing the ventilators with sensors. This would ensure almost no interference from human beings. Thus, the human resource can be streamlined and directed to other important areas of the business.

Surging geriatric population across the globe is also expected to surge the sales of medical ventilators. This age group is prone to almost any kind of ailment, especially respiratory issues and cancer cases.

Thus, the FMI analysts believe that, ‘rapid urbanisation, COVID-19 pandemic, technological advancements, and a lot of other factors are expected to propel the medical ventilators market growth during the forecast period.’

Key Takeaways:

The market is expected to record a growth rate of 9.1%.
In 2023, the market valuation is expected to be at US$ 1.7 billion.
By 2033, the market value is expected to surpass US$ 4 billion.
As per the regional analysis, North America is expected to be the largest market.
The United States market is expected to grow at 6.8%.
The United Kingdom market is projected to advance at 5.8%.
China market is anticipated to surge at 14.7%.
Japan market is expected to advance at 9.1%.
South Korea market is anticipated to grow at 8%.
On the basis of product type, the critical care ventilators are expected to be the leading segment, and may surge at 8.6%.
On the basis of application, the invasive ventilators are projected to be the dominant segment, and is expected to grow at 7.5%.
Based on the end user, the hospitals segment is expected to be the leading segment.
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Competitive Landscape

The key players operating in the medical ventilators market are focusing on product innovation. On that basis, they are looking to integrate their products with latest microprocessors. There are also huge investments being made on Research and Development, with an aim to create best quality ventilators. The manufacturers are also investing on tactical mergers and acquisitions, with a view to expand their market share. With a view to achieve sustainable goals, the manufacturers are also looking to cut down green house emissions, and make use of eco-friendly facilities. In order to make new strategic moves, the key players are also roping in some of the most astute minds who have been a part of this niche for decades.

Top players in the market:

Cardinal Health
Becton Dickinson and Company
GE Healthcare
Key developments in the medical ventilators Industry:

In October 2022, new research conducted by Cardinal Health highlights rheumatologist’s increasing confidence on biosimilars.
In January 2023, Michelle Quinn was named as the acting General Counsel for Becton, Dickinson and Company.
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Medical Ventilators Industry Segmentation

By Product:

Critical Care Ventilators
Transport Ventilators
By Application:

Invasive Ventilators
Non-invasive Ventilators
By End User:

Hospitals
Ambulatory Surgical Centers
Long Term Care Centers
Home Care Settings

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Breast Pump Market Size, Share, Growth & Demand by 2033 | FMI

In a ground-breaking revelation, the Global Breast Pump Industry is poised to witness a significant transformation, with estimates indicating a valuation of US$ 1,827.00 million in 2023. The market is forecasted to ascend to an impressive US$ 2,672.30 million by 2033, exhibiting a commendable Compound Annual Growth Rate (CAGR) of 3.90%.

This anticipated growth is underpinned by a confluence of factors, including technological advancements, increasing awareness about maternal health, and a rising emphasis on convenience for breastfeeding mothers. The Global Breast Pump Industry’s evolution aligns with the evolving landscape of healthcare and family-oriented technologies.

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Since the last few years, the percentage of working women in workplaces across the globe has been declining (46.2% in 2019 as compared to 50.9% in 1990 as per “Catalyst”).

Emerging economies are witnessing impressive growth in healthcare spending. This can be attributed to improvements in healthcare technology and changing lifestyles, which is fuelling the demand for breast pumps among urban women. According to WHO, global healthcare spending rose by 2.4% in 2014 over 2013. Healthcare spending is growing at a rate of 5% in developing regions. A rise in healthcare expenditure is expected to boost the overall adoption of breast pumps among women, especially in the Asia Pacific.

Breast pump adoption is as high as 85% among breastfeeding women at 3 months post-birth. Furthermore, marketplace discussions indicate that the availability of breast pump accessory products will also encourage the adoption of electric breast pumps in developed markets. In this regard, infant product manufacturers are increasingly bundling other pump-related products, such as nursing bras and breast pumping bras, to sell complete packages of breast pumps, which is more profitable than isolated sales. Electrical breast pump packages find more adoption than manual breast pump products due to better volume of output. These innovative solutions are projected to fuel Global Breast Pump Industry revenues in the global electric breast pump market during the forecast period.

Key Players:

Koninklijke Philips N.V.,
Pigeon Corporation,
Newell Brands,
Medela Inc.,
Ameda Inc.,
Hygeia II Medical Group Inc.,
Bailey Medical,
Mayborn Group Ltd. and Linco Baby Merchandise Works Co., Ltd.
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The Electric breast pump market is more technologically advanced with higher product pricing and low penetration. This category of breast pump comprises few global breast pump manufacturing companies. Potential new entrants in the Global Breast Pump Industry are trying to capture and improve their market position by using innovative marketing strategies, such as inorganic growth. Breast pump manufacturers are expanding their product portfolio using the latest technologies.

The availability of BPA-free breast pump products is fuelling breast pump adoption in developed as well as more affluent markets in developing regions. In the recent past, breast pump manufacturers have begun offering bisphenol A or BPA-free breast pump products to increase sales. BPA is a chemical used to make milk containers or feeding bottles rigid and more resistant and has been associated with adverse health effects, such as neural and fertility issues. Examples of some BPA-free breast pump products are the Philips Avent Manual Comfort Breast Pump from Koninklijke Philips N.V. and BPA-free breast pumps by Medela, Inc.

The rapid rise in promotional/supporting campaigns for Breast Pump products is fuelling revenue growth of the Global Breast Pump Industry. In November 2012, leading breast pump manufacturer Medela launched a campaign titled ‘Virtual Human Milk Collection Campaign’ to commemorate Prematurity Awareness Month, where the breast pump manufacturer encouraged and demonstrated the importance of breast milk for infants and babies. Medela has also donated US$ 30,000 worth of breastfeeding-related products to various neonatal intensive care units across the U.S.

Some of the leading breast pump manufacturing companies analyzed in the report include Koninklijke Philips N.V., Pigeon Corporation, Newell Brands, Medela Inc., Ameda Inc., Hygeia II Medical Group Inc., Bailey Medical, Mayborn Group Ltd. and Linco Baby Merchandise Works Co., Ltd.

Additional Questions Answered

Readers can find detailed information about the important positive and negative factors likely to affect the Breast Pump market during the forecast period. Additionally, this Global Breast Pump Industry report also contains valuable information that can provide Breast Pump manufacturers with answers to critical questions, such as

Which types of products account for the maximum demand in the Global Breast Pump Industry and why?
Why is the sales of Breast Pump services and products highest in North America?
Which regulations in various regional segments are influencing the strategies of players in the Breast Pump market?
Why is APEJ currently attracting traction in the Global Breast Pump Industry?
What are some of the current technology types and trends adopted by various Breast Pump companies?
What are the promotional strategies being applied by breast pump manufacturers to sustain themselves in the competitive Breast Pump market?

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Key Segments Covered

by Product Type

Open System Breast Pumps
Closed System Breast Pumps
by Technology Type

electric
manual breast pumps
by End User

homecare settings
healthcare facilities

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Animal Healthcare Market Size, Growth & Share | 2033

Anticipated to be valued at US$ 40.9 billion in 2023, the animal healthcare market is set to witness remarkable growth, reaching an estimated US$ 62.3 billion by 2033. This upward trajectory is underpinned by a substantial compound annual growth rate (CAGR) of 4.3% throughout the forecast period.

Several factors are driving the burgeoning demand for animal healthcare, including:

Safeguarding the Economy and Food Supply: The pivotal role of animal health monitoring and disease prevention in bolstering the economy and ensuring the safety of the nation’s food supply cannot be overstated. Healthy livestock production plays a crucial part in maintaining a secure food supply and stabilizing consumer prices.
Cross-Species Disease Prevention: The emphasis on animal health underscores the collaboration between healthcare researchers and practitioners across various fields to prevent disease outbreaks spanning different species. This collaborative effort aims to address the root causes contributing to the spread of diseases.
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Improved animal health is drastically becoming a top priority for people and governments across the world since they have a vital contribution to maintaining the balance of the ecosystem. Billions of dollars are being spent on vaccines, pharmaceuticals, and feed additives every year in order to protect animals from a wide range of diseases.

Key Takeaways

Surging demand for animal pharmaceuticals and vaccines will therefore continue to boost the growth of the animal healthcare market during the forecast period.
A huge variety of pharmaceuticals is being used to treat production and companion animals such as antibiotics, antiparasitics, anti-inflammatories, analgesics, and fertility drugs. Increasing awareness about animal care is set to spur growth in the animal healthcare market.
The rapid surge in animal healthcare product sales like pharmaceuticals is acting as a catalyst for the growth of the animal healthcare market and the trend is likely to continue in the future.
The increasing consumption of meat and dairy products, the rising prevalence of foodborne and zoonotic diseases, growing trend of pet adoption across the globe are some of the primary factors fueling demand in the animal healthcare market during the forecast period.
The account of rising pet adoption rates growing awareness about maintaining the proper health of animals, and surging demand for animal pharmaceuticals for enhancing the immunity system of animals over the last few decades have led to an increase in spending on animals significantly.
North America and Europe are projected to dominate the animal healthcare market, accounting for more than 60% of the market share and North America alone will command a market value of US$ 18.2 billion.
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Competitive Landscape

Bayer AG, Cargill, Inc., Eli Lilly and Company, Boehringer Ingelheim GmbH, Ceva Sante Animale, Zoetis Inc., Merc & Co., Inc., Virbac S.A., and SeQuent Scientific Ltd. Etc. are some of the key companies profiled in the full version of the report.

Leading market players operating in the global animal healthcare market are constantly increasing in research and development for introducing new products at low costs. Besides this, they are adopting growth strategies such as partnerships, acquisitions, price reduction, and moving towards online platforms to expand tehri global footprint.

More Insights into the Animal Healthcare Market

The global animal healthcare market falls under the seven major regional segments such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA).

North America is leading the global animal healthcare market, accounting for the maximum market share and the revenue is expected to reach US$ 18,186.4 Mn by 2027 end. The Western Europe market is expected to account for the second largest market value share during the forecast period.

With the rapid expansion of the pet care market and surging demand for animal pharmaceuticals, North America and Europe will collectively constitute more than 60% of the market share over the forecast period.

Asia Pacific region is expected to grow at a phenomenal pace during the forecast period owing to the rising adoption of pets, expansion of the animal feed additives market, and penetration of new veterinary healthcare market entrants in countries like India and China.

On the basis of animal type, the global animal healthcare market has been segmented into production animals and companion animals.

The production animals segment is projected to grow at the fastest CAGR over the forecast period, reaching around US$ 35,041.9 Mn by 2027 end. The companion animals segment, on the other hand, is projected to grow at a CAGR of 3.6% over the forecast period.

Increased focus on protecting both production and companion animals from lethal diseases will continue to push the animal healthcare product sales during the forecast period.

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Market Segmentation

Based on Product Type:

Feed Additives
Pharmaceuticals
Vaccines
Based on Animal Type:

Production Animals
Companion Animals