Technological advancements in the form of superior products and rising prevalence of respiratory diseases are major factors that are pushing the growth of the non-invasive ventilation masks and circuits market. Consistent efforts are being made by manufacturers in the non-invasive ventilation masks and circuits market to develop novel products that aid the reduction of facial injuries caused by poorly-fitting masks. For instance, in 2017, ResMed announced the launch of ultra-soft full memory masks called Air Touch F20 full face masks, expanding application for the treatment of obstructive sleep apnea and other disorders.
Non-invasive Ventilation Masks and Circuits Market Trends
Increasing Prevalence of COPD Boosting Demand: Out of the many benefits of non-invasive ventilation masks and circuits, one of the major benefits for the emergence of new players in the market is the increasing prevalence of respiratory disorders and the recent outbreak of COVID-19 pandemic, due to which, these products are increasingly being used in countries such as China, Brazil, and India. Therefore, due to growth in the prevalence of target diseases, worldwide, the proven efficacy of non-invasive ventilation masks and circuits in the estimation and diagnosis of diseases will drive their use in hospitals. This, in turn, will propel the growth of the non-invasive ventilation masks and circuits market over the coming years. For instance, in 2016, according to WHO data, around 75 Mn people were suffering from moderate to severe chronic obstructive pulmonary diseases (COPD), globally.
Evolution of Real-time PCR Techniques: Growing use of non-invasive ventilation masks & circuits to provide treatment to infected patients will augment the hospitals segment. Besides, increasing number of hospitals focusing on the use of advanced methods for the treatment of various diseases is likely to drive the demand for non-invasive ventilation masks and circuits. Further, the recent outbreak of COVID-19, which has transformed into a global pandemic, is certain to assert influence on the market. Dräger has been awarded a contract by the U.S. government to supply respiratory protection masks in connection with the COVID-19 pandemic. Such requirements and deals will significant boost the growth of the non-invasive ventilation masks and circuits market.
COVID-19 Pandemic Propelling Demand for Non-invasive Ventilation Masks and Circuits
The current COVID-19 pandemic has increased the demand for advanced healthcare facilities, and created a burden on the healthcare industry in terms of isolation, prevention, and providing treatment to infected patients. The factors play an important role in driving the growth for the non-invasive ventilation masks and circuits market. As a result of the widespread of the disease, manufacturers and governments are now adopting extreme measures to produce more number of non-invasive ventilation masks and circuits due to the urgent demand from hospitals across the world as a result of the COVID-19 pandemic, especially non-invasive ventilation reusable circuits and disposable masks.
Regional Analysis of Non-invasive Ventilation Masks and Circuits Market
North America remains the most lucrative region, commanding close to 42% of the global non-invasive ventilation masks and circuits market share. Increased adoption of novel and innovative products and availability of R&D grants are factors contributing to the dominance of North America in the global non-invasive ventilation masks and circuits market. High prevalence of respiratory dysfunctions and chronic obstructive pulmonary diseases, coupled with increasing awareness among patients about the early diagnosis of these diseases is anticipated to catalyze market growth in Asia Pacific.
Competitive Landscape of Non-invasive Ventilation Masks and Circuits market
The non-invasive ventilation masks and circuits market is characterized as a consolidated market space, with key players across the globe such as Hamilton Medical, Inc., Fisher & Paykel Healthcare Limited., Air Liquid Medical Systems, Koninkliijke Philips N.V., ResMed Inc.,Dragerwerk AG & Co. KGaA, Armstrong Medical, Cardinal Health Inc., Well Lead Medical Co Ltd, Vyaire Medical, Ltd & Intersurgical etc. . Manufacturers are actively involved in collaborations for product development and geographic expansion to gain a larger share in the global non-invasive ventilation masks and circuits market size.
Increasing adoption of non-invasive ventilation masks and circuits due to their large procedural benefits for treating respiratory disorders, along with rising product availability, is expected to fuel the growth of the non-invasive ventilation masks and circuits market during the forecast period. The cost effectiveness of these products is another major driver for the market. North America, Europe, and Asia Pacific will offer the most opportunities to players over the next decade.
Non-invasive Ventilation Masks and Circuits Market - Scope of the Report
Persistence Market Research (PMR) recently published a market study on the global non-invasive ventilation masks and circuits market. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the non-invasive ventilation masks and circuits market structure. The market study presents exclusive information about how the non-invasive ventilation masks and circuits market will grow during the forecast period (2020-2030).
Key indicators of market growth, which include compound annual growth rate (CAGR) and Year-on-Year (Y-o-Y) growth of the mark are explained in PMR’s study in a comprehensive manner. Other information includes definition, drivers and opportunity analysis by region, application, product, and end user, which helps in deep understanding of the market segment details by researchers, suppliers, manufactures, and distributors. This information can help readers understand the quantitative growth prospects of the non-invasive ventilation masks and circuits market during forecast period.
The study is relevant for manufacturers, physicians, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market space. Business researcher, shareholders, and industry experts can leverage the information and data presented in PMR’s study.
The study also includes statistics as well as facts related to macroeconomic factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the non-invasive ventilation masks and circuits market. Furthermore, small businesses and new entrants in the non-invasive ventilation masks and circuits market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
PMR’s study on the non-invasive ventilation masks and circuits market offers information divided into four important segments —product, application, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Segments of Non-invasive Ventilation Masks and Circuits Market
Questions Answered in PMR’s Non-invasive Ventilation Masks and Circuits Market Report
Non-invasive Ventilation Masks and Circuits Market: Research Methodology
In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the non-invasive ventilation masks and circuits market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the non-invasive ventilation masks and circuits market study include statistics from government healthcare organizations, medicines journals, research journals, press release, annual reports, white papers, directories, and databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from market players, and makes PMR’s projections on the growth prospects of the non-invasive ventilation masks and circuits market more accurate and reliable.