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Global Mechanical Ventilator Market Size, Share & Industry Trends Analysis Report By Product Type, By Age Group, By Component, By Mode, By End User, By Regional Outlook and Forecast, 2021 - 2027

Global Mechanical Ventilator Market Size, Share & Industry Trends Analysis Report By Product Type, By Age Group, By Component, By Mode, By End User, By Regional Outlook and Forecast, 2021 - 2027

  • February 2022
  • 286 pages
  • ID: 6249508
  • Format: PDF
  • KBV Research

Summary

Table of Contents

The Global Mechanical Ventilator Market size is expected to reach $11.7 billion by 2027, rising at a market growth of 12.7% CAGR during the forecast period.

Mechanical ventilator is the device used to support breathing of patients who is critically ill and unable to breathe by self. A hollow tube, which acts as artificial airway, is inserted into the patient’s mouth and down into their trachea to connect patient to the ventilator. In addition, mechanical ventilators are used to assess static compliance of airway resistance and respiratory system abnormalities as a diagnostic tool. The mechanical ventilators market is a life-saving device in medical emergency and surgeries. These devices are majorly used for patients with spinal cord injury, stroke, respiratory disorders, or other disorders.

The growth of the global mechanical ventilator market is majorly driven by increase in prevalence of chronic respiratory diseases such as lung cancer, chronic obstructive pulmonary disease (COPD), asthma, bronchitis, and other lung disorders as well as rise in number of hospitals & diagnostic centers. As per the Globocan 2020, lung cancer is a second ranked cancer in terms of patient count in Europe with estimated 477,534 newly diagnosed patients.

In addition, increase in aged individuals who are susceptible to respiratory disorders is one of the key drivers of the market. For instance, according to the American Cancer Society’s 2021 Statistics, most of the people over the age of 65 are prone to lung cancer.

Moreover, advancements in mechanical ventilator Market anticipated to contribute toward the growth of the market. For instance, Philips, a global leader in health technology, offers Respironics V680, a critical care ventilator which uses their proprietary auto-trak technology to automatically adapt to your patient’s breathing pattern and deliver a high level of synchrony during noninvasive therapy.

COVID-19 Impact

Furthermore, COVID-19 pandemic has boosted the growth of market. The COVID-19 infection is associated with respiratory failure, and requires critical care with ventilator support. Mechanical ventilation has regularly been employed to oxygenate seriously ill COVID-19 patients. In addition, new delta and omicron variants of COVID-19 with high spreading rate found in mid-November 2021 have increased the risk of third wave across the world. Moreover, key manufacturing companies in mechanical ventilators market and government have taken initiatives to boost the production of market to fulfil the high requirement of ventilators during the pandemic.

Thus, presence of various manufacturers and initiatives taken by government to increase the production of market propelled the growth of the market. However, high cost associated with mechanical ventilators and risk of ventilator associated diseases such as nosocomial pneumonias restrict the market growth during the forecast period.

Market Growth Factors

Increasing number of ICU Admissions is augmenting he demand for critical care

The burden of respiratory diseases is rising globally, owing to numerous factors such as smoking, obesity, and lifestyle changes. According to the Regents of the University of California, in the United States, approximately 4 million ICU admissions are registered each year. In Germany, around 2.1 million patients are admitted in ICU each year, out of which an estimated 42.0% patients require mechanical ventilation. The increasing demand for critical care equipment, due to increasing number of ICU admissions in emerging and developed countries are some of the major factors anticipated to drive the growth of the market. Additionally, the impact of COVID-19, the number of ICU admissions had an additional impact and the need of critical care equipment.

Soaring Innovations In Intensive Care Unit (ICU) Ventilation Are Expected To Boost The Demand Of Mechanical Ventilators Market:

Potential optimization of ventilation bundles begins by re-investigating the critical constituents of respiratory mechanics. Automation of ventilation settings could result in a solution. Closed-loop systems have been categorized into clear, physiological signal-based, and explicit computerized protocols or ECP. ECP systems utilize numerous inputs to curb one or numerous ventilator outputs. Certain examples of automation of mechanical ventilation include Adaptive Support Ventilation (ASV; which titrates ventilator output on a breath-to-breath basis offering a preset level of minute ventilation while reducing work of breathing), Intelligent ASV (an expansion of ASV, inclusive of an automatized choice of FiO2 and PEEP), and SmartCarePS (regulation of pressure support level based on the patient’s respiratory features). Additional examples accessible on the market (although not completely automatized) are proportional assisted ventilation plus (PAV+) and NAVA. The modes of ventilation include non-invasive ventilation and invasive ventilation.

Market Restraining Factors

High Capital Requirement

Purchasing a fleet of ventilators for hospital is a major decision. The cost of acquiring new equipment is part of that decision-making process. There are many ventilator options available to care for a variety of patient needs. Examples include: Home care ventilators, Transport ventilators, Low, medium, and high-acuity ventilators, High-frequency ventilators, Noninvasive positive pressure ventilation/continuous positive airway pressure (NPPV/CPAP), bi-level positive airway pressure (BIPAP) systems. Different ventilators also have different gas delivery designs, including turbine-based air supply and proportional solenoid (PSOL) valve control, or a combination of the two systems. Costs for these ventilators can range from $5,000 to $50,000. Premium or high-acuity ventilators — most commonly found in hospital ICUs — typically have a PSOL gas delivery design and can currently cost between $25,000 and $50,000.

Product Type Outlook

Based on Product Type, the market is segmented into Intensive Care Unit/Critical Care, Transport/Portable/Ambulatory, and Neonatal Care. Transport/Portable/Ambulatory segment acquired the significant revenue share during 2020. However, the transport/portable ventilators segment is expected to witness considerable growth during the forecast period, owing to increase in adoption of home care settings for old age peoples. 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.

Age Group Outlook

Based on Age Group, the market is segmented into Adult, Geriatric, and Pediatric & Neonatal. The adult segment held the largest revenue share in 2020, and is expected to maintain its lead during the forecast period, owing to COVID-19 infection mainly affects elderly people.

Component Outlook

Based on Component, the market is segmented into Devices and Services. In 2020, the services segment garnered the substantial revenue share due to increase in sales of market.

Mode Outlook

Based on Mode, the market is segmented into Invasive Ventilation and Non-invasive Ventilation. The non-invasive ventilation mode generated significant revenue share. 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. The non-invasive ventilation segment is expected to witness considerable growth during the forecast period, due to cost-effectiveness, and can be easily available outside the ICU.

End User Outlook

Based on End User, the market is segmented into Hospital & Clinic, Ambulatory Surgical Center, Home Care, and Others. The home care segment generated the promising revenue share. 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 Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America garnered the major share in the mechanical ventilator market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in the prevalence of chronic diseases, presence of key players for manufacturing & development of market size, increase in number of hospitals & diagnostic centers and initiatives taken by government to increase market production in the region.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Medtronic PLC and General Electric (GE) Co. (GE Healthcare) are the forerunners in the Mechanical Ventilator Market. Companies such as Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, Asahi Kasei (ZOLL Medical Corporation) are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co. (GE Healthcare), Koninklijke Philips N.V., Medtronic PLC, Dragerwerk AG & Co. KGaA, Getinge AB, Asahi Kasei Corporation (Zoll Medical Corporation), Hamilton Medical AG (Hamilton Bonaduz AG), Carl Reiner GmbH, Mindray Medical International Limited, and Vyaire Medical, Inc.

Scope of the Study

Market Segments covered in the Report:

By Product Type

• Intensive Care Unit/Critical Care

• Transport/Portable/Ambulatory

• Neonatal Care

By Age Group

• Adult

• Geriatric

• Pediatric & Neonatal

By Component

• Devices

• Services

By Mode

• Invasive Ventilation

• Non-invasive Ventilation

By End User

• Hospital & Clinic

• Ambulatory Surgical Center

• Home Care

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• General Electric (GE) Co. (GE Healthcare)

• Koninklijke Philips N.V.

• Medtronic PLC

• Dragerwerk AG & Co. KGaA

• Getinge AB

• Asahi Kasei Corporation (Zoll Medical Corporation)

• Hamilton Medical AG (Hamilton Bonaduz AG)

• Carl Reiner GmbH

• Mindray Medical International Limited

• Vyaire Medical, Inc.

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