Mechanical Ventilator Market Size to Hit USD 4.20 BN by 2030

According to Report, the global mechanical ventilator market was valued at USD 5.80 billion in 2021 and is estimated to hit USD 4.20 billion by 2030 poised to grow at a CAGR of 4.6% from 2022 to 2030.

Growth Factors:

The unprecedented dawn of COVID19, increasing incidence of chronic obstructive pulmonary disease (COPD), rising incidence of respiratory emergencies, and technological innovation in respiratory care devices are the major factors driving the market for mechanical ventilators.

Technical advancements such as rapid innovation in the field of Positive Airway Pressure (PAP) devices, portability, and improvement in battery life of transport and portable devices are the primary factors that encourage the usage of mechanical ventilators. In April 2020, InnAccel Technologies announced the introduction of a non-invasive ventilation system intended for usage in ICU with COVID-19 patients. This system was engineered and manufactured in India to treat patients with deteriorating hypoxemia. Besides, this system functions across numerous settings and clinical applications, without the necessity of continuous electricity, or a trained breathing therapist.

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The WHO estimates that at present, approximately 90% of COPD deaths occur in low- and middle-income countries. Therefore, the rise in the prevalence of such diseases, new product launches, and the availability of portable, cost-contained, and easy-to-use mechanical ventilators for the treatment of respiratory conditions are expected to fuel the market growth worldwide. For instance, in August 2020, Spicejet introduced Spiceoxy, a portable, non-invasive ventilation device. The increasing awareness amongst the end users is projected to boost the demand over the forecast period.

Asia Pacific and Latin America are expected to witness lucrative growth over the forecast period. This growth is due to the presence of untapped opportunities, rising expenditure levels, and the introduction of favorable government initiatives. Market participants are constantly engaged in the development of new products in an attempt to improve presence and ensure sustainability. For instance, in April 2021, Drägerwerk AG & Co. KGaA has acquired the majority share of STIMIT AG. With this purchase, the company further increases its proficiency in the lung-protective ventilation field.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Mechanical Ventilator market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Mechanical Ventilator market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Mechanical Ventilator market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

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Product Insights

Critical care ventilators dominated the market with a share of over 35.0% in 2021 due to the high adoption and installation rate in hospitals. Critical care ventilators are majorly used in hospital intensive care units. A positive impact on revenue growth is expected, with an increase in the number of hospitals and healthcare facilities. The growing prevalence of target indications is expected to boost hospital admission rates as affected patients might need frequent ventilation. Transport and portable mechanical ventilators are expected to witness the fastest growth during the forecast period owing to their efficiency in a variety of applications in different care delivery settings.

The evolution of patient-friendly, cost-effective, and portable devices further encourages their usage. The application of transport and portable ventilators ranges from home care to ambulatory centers. Growth in the market for point-of-care treatment and an increase in the cases of medical emergencies are vital factors behind the segment growth. Hospitals are encouraging the usage of portable ventilators to provide convenient and faster care to patients from an ambulance to the hospital bed. Portable ventilators prompt the patients to adopt home care, hence increasing its popularity.

Ventilation Mode Insights

The non-invasive ventilation mode emerged as the largest segment and accounted for over 55.0% share in 2021. The segment is also likely to witness the fastest growth during the forecast period. The usage of non-invasive mechanical ventilation in a wide range of applications and its ability to offer precise and higher concentrations of oxygen are key factors contributing to the segment growth. The non-invasive ventilation can be delivered using advanced intensive care ventilators that can offer various respiratory support modes.

Extensive R&D investments in the healthcare sector and growing per capita income further boost the overall market growth. Consistent increase in the number of patients suffering from respiratory diseases is the main factor for the growth of the CPAP devices market. In the non-invasive ventilation mode segment, the CPAP accounted for over 35.0% share of the overall revenue. These devices are used in emergency settings and hospitals as an oxygen source for patients suffering from respiratory issues. CPAP devices can also support oxygen provision among patients undergoing heart treatment.

End-use Insights

The hospitals segment dominated in 2021 with a revenue share of over 45.0%. This is owing to growing hospitals’ expenditure that allows the acceptance of technologically advanced ventilators. In addition, the availability of skilled health care providers to operate these ventilators, the increased emphasis on better health outcomes, and improved productivity of hospitals are contributing to the segment growth. Furthermore, constant monitoring offered by hospital staff is likely to increase the preference of patients for these healthcare facilities.

The home healthcare segment is expected to witness the fastest growth during the forecast period. An increasing number of government initiatives aimed at curbing healthcare expenditures by promoting home healthcare support the market growth. Value-based healthcare is another major factor contributing to market growth. In the U.S., Medicare reimbursements are highly favorable in providing value-based healthcare for improved patient outcomes at a low cost. Thus, in-home care has become a modality of choice for treatment and is expected to witness lucrative growth over the forecast period.

Regional Insights

North America dominated the market with a revenue share of over 55.2% in 2021. A soaring number of critically ill COVID-19 patients in the U.S. (4,813,647 as of 3 August 2020) and the presence of leading manufacturers implementing production boost are key factors driving the regional market. Additionally, the U.S. automotive giants like Tesla, Ford, and GM have switched their assembly lines for medical supplies such as masks, mechanical ventilators, and other medical devices to help the government with the shortage problems of these devices. This, in turn, resulted in the significant growth of the regional market.

In Asia Pacific, the market is anticipated to witness significant growth over the forecast period owing to the increasing cases of COVID 19, chronic respiratory diseases, rising healthcare expenditure, various collaborations, new product launches, and strategic agreements implemented by local players during the pandemic. For instance, in January 2021, CSIR-NAL developed a non-invasive airway pressure ventilator, Swasth Vayu.

Similarly, in August 2020, Spicejet introduced Spiceoxy, a portable, non-invasive ventilation device. The introduction of such cost-effective products is expected to fuel the adoption in the coming years. Additionally, the growth in this region is attributed to the development of infrastructure and healthcare policies promoting better care provided to individuals. The growing trend of lifestyle habits such as smoking and genetic allergy developments expediting the number of cases of respiratory disorders further promotes market growth.

Some of the prominent players in the Mechanical Ventilator Market include: Getinge AB; Medtronic; Vyaire Medical Inc.; Drägerwerk AG & Co. KGaA; Koninklijke Philips N.V.; Hamilton Medical; GE Healthcare; Smiths Medical; ZOLL Medical Corporation; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Segments Covered in the Report

• By Product
  • Critical Care
    • Ventilators
    • Accessories
  • Neonatal
    • Ventilators
    • Accessories
  • Transport & Portable
    • Ventilators
    • Accessories
  • Others
• By Ventilation Mode
  • Invasive
  • Non-invasive
    • CPAP
    • BiPAP
    • Others
• By End-use
  • Hospitals
  • Home Healthcare
  • Others

By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

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