PUBLISHER: The Business Research Company | PRODUCT CODE: 1436467
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436467
A mechanical ventilator is a machine that assists with breathing by automatically delivering air into and out of the lungs. It is used to support individuals who have difficulty breathing on their own.
In the medical equipment industry, the main types of mechanical ventilators include adult ventilators, pediatric ventilators, and neonatal/infant ventilators. Adult ventilators offer invasive and non-invasive ventilation for adults, while pediatric and neonatal/infant ventilators are designed specifically for younger patients. These mechanical ventilators come in various mobility types, including intensive care ventilators, high-end ICU ventilators, mid-end ICU ventilators, basic ICU ventilators, and portable ventilators. They offer different modes of ventilation, such as invasive ventilation and non-invasive ventilation, and are used by a range of end-users, including hospitals and clinics, home care facilities, ambulatory care centers, emergency medical services, and other healthcare settings.
The mechanical ventilator market research report is one of a series of new reports from The Business Research Company that provides mechanical ventilator market statistics, including mechanical ventilator industry global market size, regional shares, competitors with a mechanical ventilator market share, detailed mechanical ventilator market segments, market trends and opportunities, and any further data you may need to thrive in the mechanical ventilator industry. This mechanical ventilator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The mechanical ventilator market size has grown rapidly in recent years. It will grow from $7.79 billion in 2023 to $8.83 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth during the historical period can be linked to emergency preparedness initiatives, research and development endeavors, advancements in medical care and critical care requirements, the impact of epidemics and pandemics, as well as the aging population and the prevalence of chronic respiratory diseases.
The mechanical ventilator market size is expected to see rapid growth in the next few years. It will grow to $15.13 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The expected growth in the forecast period is tied to several factors: the impact of global health emergencies and pandemics, the emphasis on emergency response preparedness, adherence to regulatory standards, government investments, and initiatives aimed at healthcare infrastructure development worldwide. Significant trends anticipated during this period encompass a focus on energy efficiency, integration with wearable technology for healthcare purposes, the utilization of wireless connectivity and remote monitoring solutions, the incorporation of AI and machine learning into healthcare systems, as well as the development of modular and customizable systems to adapt to various healthcare needs.
The growth of the mechanical ventilator market is expected to be driven by the improvement of healthcare infrastructure. Healthcare infrastructure encompasses the foundation for planning, delivering, and enhancing public health services. The COVID-19 pandemic has underscored the need for robust healthcare infrastructure and has led to increased demand for enhanced healthcare facilities. Hospitals are expanding their mechanical ventilator capacity to address urgent medical needs and mitigate shortages during emergencies. For example, in June 2021, the government of India announced a program worth INR 50,000 crore ($6.8 billion) aimed at bolstering the country's health infrastructure. This initiative is indicative of efforts to strengthen healthcare infrastructure, which, in turn, is driving the growth of the mechanical ventilator market. In summary, the expansion and improvement of healthcare infrastructure, particularly in response to the COVID-19 pandemic, are key factors contributing to the growth of the mechanical ventilator market.
The increasing prevalence of chronic diseases is expected to drive the growth of the mechanical ventilator market in the future. Chronic diseases are broadly defined as conditions that persist for a year or longer, require ongoing medical management, and can interfere with daily activities. Mechanical ventilators assist patients with chronic diseases by monitoring their health status, managing physiological conditions in post-acute, rehabilitation, and chronic cases, and providing acute respiratory support when needed. For example, according to the National Library of Medicine in January 2023, the number of people in the US aged 50 and older with at least one chronic condition is projected to increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the growing prevalence of chronic diseases is a key driver behind the growth of the mechanical ventilator market.
Product innovation is a significant trend in the mechanical ventilator market, with companies investing in research and development to create new products that automate mechanical ventilators based on frequency, assist control, and time, thereby minimizing the workload on the ventilator. For example, in January 2022, OES Medical, a UK-based manufacturer of anesthesia equipment and accessories, introduced the Gemini-G100, an electrically driven piston ICU ventilator. The Gemini-G100 is designed to support intensive care teams worldwide, especially in locations where high-pressure oxygen gas supplies may be problematic. This ventilator only requires electric power and does not rely on the hospital's oxygen supply, making it a versatile and reliable solution for various healthcare settings.
Key players in the market are focusing on developing innovative products to strengthen their market position. One such innovation is high-flow oxygen therapy, a technique that delivers a mixture of heated and humidified oxygen and air through the nose at high flow rates. For example, in October 2021, Movair, a US-based respiratory therapy company, introduced the Advanced Ventilator-Luisa. This ventilator is compact, portable, and user-friendly, featuring an intuitive interface and simple controls. The Luisa ventilator is uniquely designed to provide advanced respiratory support to patients in respiratory distress, including those suffering from conditions such as COVID-19. It incorporates a range of advanced features, including real-time monitoring of airway pressure, flow, and volume, enhancing its capabilities for patient care.
In May 2021, Medline International B.V., a Netherlands-based provider of medical devices and solutions, acquired selected respiratory assets of Teleflex for $286 million. This strategic acquisition is intended to bolster Medline's position in the global non-invasive ventilation (NIV) market and enhance its footprint in Europe and other international markets. Teleflex Incorporated, based in the US, is a specialty medical device manufacturing company known for producing non-invasive ventilators used in vascular and interventional access, surgical anesthesia, cardiac care, urology, emergency medicine, and respiratory care.
Major companies operating in the mechanical ventilator market report are Air Liquide, Medtronic PLC, Becton Corporation, Koninklijke Philips N.V., GE Healthcare, Atos Medical, Smiths Medical, Bio-Med Devices Inc., ResMed, Hill-Rom Holdings Inc., Getinge, Drager, Spirax-Sarco, Chart Biomedical, Fisher & Paykel Healthcare Limited, ZOLL Medical Corporation, Vyaire Medical Inc., Welch Allyn, SCHILLER, Hamilton Medical, Avasarala Technologies Limited, Ventec Life Systems, Allied Healthcare Products Inc., Bunnell Inc., Carl Reiner GmbH, Acoma Medical Industry Co. Ltd., Airon Corporation, aXcent Medical GmbH, Trident Medical Innovations
North America was the largest region in the mechanical ventilator market in 2023. The regions covered in the mechanical ventilator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mechanical ventilator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mechanical ventilator market consists of sales of negative pressure ventilators and positive pressure ventilators. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Mechanical Ventilator Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mechanical ventilator market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mechanical ventilator ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mechanical ventilator market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.