New York, USA, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Medical Ventilator Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR) “Medical Ventilator Market Information by Portability, Interface, Technology, Application, End-User, and Region - Forecast till 2030, the market was valued USD 1.9 billion in 2021 and is projected to reach USD 4.12 billion by 2030 at 4.51% CAGR during the forecast period 2022-2030.
Medical Ventilator Market Scope:
Patients who are critically ill and face difficulty breathing on their own, are able to do so with the use of a medical ventilator. It is a system used for supporting the breathing of the patients, wherein a hollow tube is put inside the oral cavity right into the patient’s trachea for connecting the ventilator. In a way, the ventilator is like an artificial airway. Medical ventilators also help calculate the static compliance of the patient’s airway resistance. This machine helps diagnose respiratory system abnormalities.
Advanced ventilators today have several checks as well as balances. Patient-specific innovative parameters like flow speed, air volume, and air pressure, along with general parameters like mechanical failure, air leakage, battery backups, power failure, remote control, and oxygen tanks all come with sensors as well as monitors.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 4.12 Billion |
| CAGR | 4.51% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Portability, Interface, Technology, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising Demand For Non-Invasive Medical Ventilators |
| Increasing Prevalence Of Chronic Illness and Technological Innovation In Medical Ventilators |
Medical Ventilator Market Competitive Analysis:
Some of the most eminent contenders in the medical ventilator industry are:
- Getinge AB (Sweden)
- E. Healthcare (U.S.)
- Vyaire Medical, Inc. (U.S.)
- Medtronic (Ireland)
- Drägerwerk AG & Co. KGaA (Germany)
- Hamilton Medical (Switzerland)
- Resmed (U.S.)
- Koninklijke Philips NV (Netherlands)
- Smiths Medical (U.S.)
- Allied Healthcare Products Inc. (U.S.)
The market is extremely competitive and fragmented, with the players constantly taking up strategic initiatives, like regional expansions, product upgrades, mergers & acquisitions along with portfolio diversification. The market should turn even more competitive with several startups trying to seek opportunities in the sector and established, large-scale firms entering the industry to enhance their portfolio.
Medical Ventilator Market Dynamics
Market Drivers
The unprecedented advent of the COVID19 pandemic has fostered the demand for medical ventilators all over the world. The Society of Critical Care Medicine reveals that in 2020, the total number of hospital ventilators in the United States was close to 160,000 units. An extra stockpile of around 12,800 with Strategic National Stockpile is expected to be made available in similar scenarios in the future. Strict measures taken by the government bodies as well as the manufacturers to address the challenges of the pandemic have expedited the inflow of advanced medical ventilators, in the face of escalating cases.
Furthermore, the accelerated cases of Chronic Obstructive Pulmonary Disease or COPD, rapidly expanding elderly population and frequent technical innovations could also benefit the global market. Alarming rise in respiratory emergencies and the resultant increase in the need for advanced respiratory care devices will also facilitate market growth.
Market Restraints
The significant costs of medical ventilators make it tough for patients to opt for these services. The manufacturing costs of this modern equipment are extremely high, which also throws a huge challenge for the medical staff.
Furthermore, the higher chances of transmission of hospital-acquired infections and the surged risk of COPD among the patients post-treatment by the ventilator will also impede industry growth in the next few years.
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COVID-19 Analysis
The COVID-19 outbreak’s impact on the healthcare system was profound, giving way to numerous public health measures, as well as a reduction in medical access to people. The pandemic resulted in the shutdown of operational facilities worldwide.
The worldwide healthcare industry has been facing multiple challenges during the lockdown phase. Given the rapid increase in COVID-19 cases, many medical facilities are encountering a lot of issues, which reduces the provision of essential services.
Healthcare IT including healthcare CRM emerged as the top solution in these uncertain times, helping professionals provide medical services to take care of the rapidly mounting number of new cases. Also, the demand for medical ventilators shot up as patients infected by SARS-CoV-2 deal with immense respiratory issues. This bolsters the need for machines that support their breathing. This way, it is assumed that the worldwide market should continue to remain stay afloat and even thrive in the years to come.
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Medical Ventilator Market Segmentation
By Portability
The medical ventilator industry, with respect to portability, caters to stationary ventilators as well as portable ventilators. Portable ventilators enjoy higher demand than stationary ones since these facilitate higher access for those affected by chronic obstructive pulmonary disease (COPD), cardiogenic pulmonary edema, and various respiratory disorders. Moreover, portable ventilators help the intra-hospital and inter-hospital movement of patients.
By Interface
Interface-wise, the medical ventilator market can be considered for invasive and non-invasive. Non-invasive interface ventilators note significant demand as these offer benefits including cost-effectiveness, better tolerance, and easy availability. Additionally, it helps treat various diseases including respiratory muscle weakness, upper airway trauma as well as sinusitis.
By Technology
The technologies discussed in the MRFR study of the medical ventilator market include mechanical and automated.
By Application
The top applications of medical ventilators are emergency care, neonatal care, critical care, and others.
By End-User
Major market end-users are hospitals and clinics, home care settings, and more. Home care settings are the top segment in the market given that the elderly patient pool is expanding rapidly and require ventilators at home.
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Medical Ventilator Market Regional Analysis
Americas took the lead in the global market for medical ventilators market in the year 2019. The region has maintained its winning streak ever since, thanks to the expanding geriatric population coupled with the availability of medical insurance schemes. Focus on reducing the number of hospital stays and better patient experience adds to the demand for medical ventilators. The regional population is increasingly affected by respiratory disorders as well as chronic respiratory ailments, which has fostered the product demand.
The APAC is on track to capture a stunning CAGR in the coming years, by virtue of rising cases of chronic respiratory diseases and the surge in healthcare spending. The recent COVID-19 outbreak has also fostered the demand for medical ventilators as hospital admissions have risen considerably in the region. Moreover, strategic collaborations and agreements between the leading companies in the region and the massive patient pool requiring ventilation also strengthen the market position in the region. Soaring demand for modern and well-equipped healthcare facilities and the rapid emergence of the medical tourism sector in the region should benefit the medical ventilators industry in subsequent years.
Discover more research reports on Healthcare Industry, by Market Research Future:
Mechanical Ventilators Market Research Report: By Product Type (Intensive care Unit, Transport/Portable/Ambulatory, Neonatal care), By Mode (Non-Invasive Ventilation, Invasive Ventilation), By Age Group (Adult, Pediatric) and By End User (Hospital and Clinic, Home Care, Ambulatory Surgical Center) and Forecast to 2027
Portable Medical Ventilators Market: By Mode (combined-mode ventilation, pressure-mode ventilation, volume-mode ventilation, others), Interface (non-invasive ventilation, invasive ventilation), Age Group (infant/neonatal ventilators, adult/pediatric ventilators), End User (hospitals and clinics, ambulatory care centers, home care settings, others) and Region (Americas, Europe, Asia-Pacific, Middle East, and Africa) – Forecast to 2027
Ventilator-Associated Pneumonia Market Research Report: Information by Diagnosis (Clinical, Radiological, Microbiological), End User (Hospitals & Clinics, Research & Academic Institutes, Ambulatory Care Centers), and Region (the Americas, Europe, Asia-Pacific, and the Middle East & Africa) - Forecast till 2030
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