Growing demand and investments drive China’s ventilators market
Chronic obstructive pulmonary disease (COPD) is one of the leading causes of mortality in the country.
Driven by growing demand for access to basic healthcare and government initiatives to support critical care, the market for ventilators in China is projected to exceed $275m by 2030, according to a report from GlobalData.
The government has brought numerous investments in the restructuring and expansion of the healthcare system, said GlobalData’s medical devices analyst Vedant Goswami. There have also been more initiatives to help local manufacturers access a bigger share of the market.
Chronic obstructive pulmonary disease (COPD) is one of the leading causes of mortality in China. Large geriatric population and high prevalence of acute and chronic respiratory diseases are the key drivers for ventilators market growth in China, the report stated.
“Large installed base in intensive care units and growing numbers of ICU admissions is driving the critical care ventilators market growth. Although critical care ventilators account for major share of the overall ventilators market, transport ventilators are expected to grow at a faster rate over the next ten years,” Goswami added.
Also driving the growth of the transport ventilators market are technological advancements such as closed-loop modes, automated weaning features and smart alarm systems. This will result in improved patient outcomes, ease of use and higher efficiency, Goswami said.
“Significantly lower price of transport ventilators compared to critical care ventilators is also expected to lead to a greater number of installations in the future,” he added.