Global Non-invasive Ventilator Rental Market: Overview
Administration of ventilator support without the use of an artificial invasive airway (i.e. tracheostomy tube or endotracheal tube) is referred as non-invasive ventilation. Usage of non-invasive ventilator as rental has increased significantly in the last few years. Acquisition of non-invasive ventilator on rent is widely accepted for the management of both chronic and acute respiratory disorders in home care settings primarily because it reduces hospitalization cost. Advantages offered by non-invasive over invasive ventilation include prevention of artificial airway complications, lower infection rate, reduced need of sedative medications, and lower cost.
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The global non-invasive ventilator rental market is projected to expand at a significant pace during the forecast period, owing to increase in demand for reducing hospital admissions and readmissions for treatment of respiratory diseases.
Key Drivers of Global Non-invasive Ventilator Rental Market
According to the WHO, chronic obstructive pulmonary disease (COPD) is the fourth leading cause of death across the world. Nearly 2.75 million people succumb to it every year. Moreover, COPD is likely to be the third leading cause of death by 2030. Non-invasive ventilators are used to deliver oxygen to patients when required. Patients with COPD can also use portable ventilators in home settings to provide continuous oxygen supply when the patient is in discomfort due to breathing problems. Rise in use of ventilators to treat COPD and surge in emphasis on home care are projected to drive the global non-invasive ventilator rental market.
Moreover, favorable rent options provided by players, such as KWIPPED, Inc. provides CareFusion LTV 1000 ventilator at rental charge of US$ 300 per month, attract patients’ families to choose to rent the device to cut unnecessary expenses associated with hospitalization. This factor is also likely to drive the market.
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Market Restraints
The challenges to providing ventilation at home, which include caregiver training, adequacy of respiratory care, and reimbursements, are some of the factors that can limit the number of users of home ventilators. This in turn is likely to restrain the global market.
North America to Hold Major Share of Global Non-invasive Ventilator Rental Marke
North America is likely to dominate the global non-invasive ventilator rental market due to rise in awareness about the high cost of hospitalization among patients who need ventilation for COPD treatment and prefer to use ventilator at home through rental option. Moreover, presence of major players such as Lincare, Viemed, and Apria Healthcare, who constantly promote their brands through different strategies so that patients can adopt ventilators for home use to treat COPD.
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Key Players Operating in Global Market
Major players operating in the global non-invasive ventilator rental market are:
- Lincare Holdings, Inc.
- Miller’s Rental and Sales, Inc.
- KWIPPED, Inc.
- US Med-Equip
- Viemed
- Aeroflow, Inc.
- Med One Group
- Trace Medical
Global Non-invasive Ventilator Rental Market: Research Scope
Global Non-invasive Ventilator Rental Market, by Duration
- Long Term Lease
- Short Term Lease
Global Non-invasive Ventilator Rental Market, by Application
- Chronic Obstructive Pulmonary Disease
- Asthma
- Respiratory Distress Syndrome
- Pneumonia
- Others
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