The ventilator breathing circuit market involves components that connect a mechanical ventilator to a patient's airway and allows the flow of gases to and from the patient. The key components of a breathing circuit include an inspiratory limb, expiratory limb, water traps, active humidifiers, passive humidifiers, bacterial/viral filters, and heat-and-moisture exchangers. These breathing circuits facilitate the delivery of heated and humidified gases to patients who require ventilation support. Miniaturization of breathing circuit components has allowed for their increased portability and the production of compact homecare ventilators.
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. The key opportunities in the market include the rising demand for portable and homecare ventilators owing to the growing geriatric population and increasing prevalence of chronic respiratory diseases. Technological advancements such as the miniaturization of breathing circuit components have allowed for their integration into compact ventilator designs suitable for homecare settings.
Market Drivers
The global Ventilator Breathing Circuit Market Growth is driven by the growing geriatric population who are more susceptible to respiratory diseases like COPD and the ongoing COVID-19 pandemic increasing the demand for ventilator support. Portable and homecare ventilators equipped with compact breathing circuits have witnessed increased demand during the pandemic for treating patients in home isolation or quarantine facilities. Miniaturized circuits have enabled the production of smaller ventilator designs suitable for long-term home ventilation therapy as well.
Challenges in the Ventilator Breathing Circuit Market
The ventilator breathing circuit market is facing challenges due to the ongoing COVID-19 pandemic. The demand for ventilators and breathing circuits has increased exponentially but manufacturers are facing issues in meeting the excess demand due to disruption of supply chains. Raw material shortage and restrictions on manufacturing and transportation are delaying the production and delivery of breathing circuits. Maintaining quality standards and preventing price inflation are also challenges in efficiently supplying breathing circuits to the large patient pool in need.
SWOT Analysis
Strength: Breathing circuits are essential components of ventilator machines. Growing elderly population and prevalence of respiratory diseases ensure continued demand.
Weakness: Over-reliance on China and other Asian countries for raw material and components lead to disruptions. Short product life cycle requires continual innovation.
Opportunity: Developing markets in Asia Pacific and Latin America offer scope for geographical expansion. Increasing healthcare budgets and focus on respiratory care are conducive for future growth.
Threats: Intense competition from local and global players poses pricing pressures. Uncertainties related to technology changes and regulatory approvals affect product pipelines.
Geographical regions of concentration
North America has the largest share of around 35% of the global ventilator breathing circuit market in terms of value as of 2024, owing to high healthcare spending and demand for advanced respiratory care devices and equipment in the region. The United States is a major contributor to the North American market.
Fastest growing region
Asia Pacific region is poised to grow at the fastest CAGR of over 5% during the forecast period. Factors such as increasing healthcare investments, rising incidence of respiratory diseases, growing medical tourism, and expanding medical device industry present lucrative opportunities for ventilator breathing circuit market players in Asia Pacific. China and India have emerging economies with huge patient populations.
Get More Insights On Ventilator Breathing Circuit Market
Explore More Related Articles Blood Glucose Test Strip Market
For Deeper Insights, Find the Report in the Language that You want.
About Author
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.
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )