Ventilator market size was estimated at USD _43.7 million in 2020 and is forecast to reach USD _87.9 million by 2027, growing at a CAGR of _9.6%.
A mechanical ventilator is a machine that represents artificial respiratory assistance to patients displaying difficulties in breathing. It provides sufficient ventilation as to assist the process of inhaling and exhaling air through the lungs. It is connected to the patient via an endotracheal tube or pipe that is related to an NIV mask that the patient breathes through artificially, along with other functional gadgets such as monitors and alarms, another use for the mechanic ventilator is the direct recognition and diagnostic of any form of irregular breathing pattern or respiratory anomaly. Due to the very precise and vital usage of these ventilators, their presence is mandatory in emergency rooms, intensive care departments and anesthesiology units, and most importantly in operation rooms, their portable variety adds the possibility of being used in-home care as well.
The key factors supporting the growth of mechanical ventilators market:
Since the design of the mechanical ventilator has come to terms, it availed tremendously in medical care and became a vital instrument in the monitoring and preservation of patients’ health within the healthcare institutions. It is undoubtedly the most commonly used medical device and the one that revolutionized the health technology industry. Practically, the increasing numbers of a geriatric population in need of medical assistance and who is threatened the most by the occurrence of respiratory disorders is the number one factor that promotes the growth of the mechanical ventilator market. Aside from that, the rising rates of chronic respiratory diseases such as Chronic Obstructive Pulmonary Disease, or medical conditions that require artificial breathing assistance in the intensive care or in operation units such as lung injuries, strokes, pneumonia, and many others have all supplemented the demand on the mechanical ventilator market. Internal factors are also catalyzing this growth namely the innovation in the design of new ventilators as to make them portable and more effective, along with the major efforts of governments via the establishment of safety guidelines to cater and respond to the needs of the patients in terms of ICU beds and mechanical ventilators and amelioration in the overall health infrastructure all over the world with the involvement of both public and private sectors. The abovementioned factors are all paired-up with the preoccupation of treating adequately respiratory diseases and cater to the long-term needs of respiratory chronic disease patients, as to make the mechanical ventilators thrive in market value, profitability, and relevance on a global level. This growth is promoted even more remarkably in the light of the current global pandemic of Covid-19 that put thousands of people in the world under the urgent need of the respiratory assistance of a mechanical ventilator.
Growth and Trends
The outbreak of the Covid-19 pandemic has given momentum to the ventilators market, as a result of which this market is expected to witness significant growth in the forthcoming years. Chronic obstructive pulmonary disease and asthma being the most common respiratory disorders across the globe calls for increased demand for medical ventilators. The increasing prevalence of these target indications enhances hospital admission rates and readmission of the affected patients as they may need frequent ventilation support. Medical care has classified devices with adjustable ventilator rates, exhalation valves, and alarms as mechanical ventilators. It uses ventilators to treat neuromuscular diseases, COPD, restrictive thoracic diseases, and chronic respiratory failure. Technological advancement in microprocessor-controlled ventilation fused with new complex ventilator modes have provided various opportunities to improve ventilator patients who are critically ill. Advanced ventilators are also used for exigencies and have infinite checks in place. Mechanical ventilators used to provide respiratory care to neonates are high in demand as well. Companies are using surfactants to reduce any harmful effects of ventilation and hence prevent infection along with providing education to healthcare professionals on appropriate use of these devices to reduce the harmful effects of ventilation. On the basis of mobility, the market for the ventilators is divided into intensive care ventilators and portable ventilators, where the intensive care ventilators segment accounts for the largest share of the market. The large market share can be attributed owing to the increasing number of intensive care beds supported with ventilators. The increasing number of admissions owing to COVID-19 and readmissions in developed countries along with suitable reimbursement also accounts for the growth of the ICU ventilators segment.
The high cost of ventilators is supposed to stagnate market growth, but the demand for them far outweighs this challenge and therefore the growth curve remains upward sloping.
The study of the medical ventilator market:
The market size:
The global mechanical ventilator market has been registered to make a revenue of USD 2242 million in the year 2017, this number is anticipated to grow drastically in the future as to reach up to USD 3819 million by the end of the year 2025, generating a CAGR of 6.8% in the abovementioned period. Those numbers and high rates are completely predictable and understandable due to the high utility of these devices and their crucial usage all over the world. The global market of mechanical ventilators is currently subjected to a very big pressure as a result of the growing demands after the outbreak of the Covid-19 pandemic. Unfortunately, the current market size could not respond to these abrupt and uncalculated needs, leading to a huge deficit in terms of the market supply causing multiple deteriorations and complications in the health of thousands of patients.
The market share:
The key players taking part in this profitable market are strong and advanced industries, comprising knowledgeable experts and premium engineers, these business establishments take into account the trends and dynamics of the market to guarantee their iron grip and their monopolization on it, as well as to survive within the highly competitive landscape of this industry. Among the key lead players in this market, we can name ResMed, Becton-Dickinson And Company, Drager, Getinge, Philips Healthcare, Allied Healthcare Products, Hamilton Medical, Zoll Medical, Airon Mindray, Schiller, GE Healthcare and Fisher & Paykel among other prominent players. The complexity and delicacy of this industry impose on these major manufactures to join their forces to respond better to the needs of the market in forms of partnerships and innovative collaborations.
The market segmentation:
The market of mechanical ventilators is not exempt from the existence of various subtypes and segments that make out of any market rich and diverse. We can discern between multiple layers of this segmentation, the first focuses on the mobility of the ventilators in question, the second sheds light on the type, the third on the interface, the fourth on the mode, the fifth on end-users whereas the last examines the geographical distribution of this market.
i. Segmentation based in the mobility:
We can distinguish between two segments related to the mobility of mechanical ventilators:
• Intensive care ventilators.
-High-end ICU ventilators.
-Mid-end ICU ventilators.
-Ordinary ICU ventilators.
• Portable ventilators.
The intensive care unit segment with all its subtypes has rounded the highest revenue and made the biggest market value, a position that it will remain to retain for long to come, as it is natural to have a heavier production and revenue channeled to hospital beds than for domestic use. This segment is expected to grow significantly in the vision of equipping healthcare facilities and in lights of the current pandemic that is promoting more demand in this matter.
ii. Segmentation based on the type of mechanical ventilators:
Two types of mechanical ventilators exist, one that’s dedicated for an adult and pediatric usage and another one kept specifically for infants and newborns in the neonatal units. The first segment retains the biggest market share due to the superior needs of the geriatric population in terms of respiratory assistance than newborns do. This classification is expected to persist in the normal conditions of the mechanical ventilators market.
iii. Segmentation based on the interface:
The global market of mechanical ventilators is segmented into two subtypes in terms of the interface, the first is invasive ventilation and the second is a non-invasive one. The non-invasive segment is at the first position in terms of market value and volume of production because, unlike the invasive method, it has a lower mortality rate and is estimated to be safer in usage. However, invasive ventilation is also expected to rise in market value due to its application in various settings such as respiratory diseases, sleep disorders, and neurological and psychiatric troubles.
iv. Segmentation based on the mode:
In this matter, a variety of modes exist namely:
• Combined mode ventilation.
• Pressure mode ventilation.
• Volume mode ventilation.
Each segment represents various applications and is adapted differently to the adequate context; the pressure mode ventilation administrates the levels of Oxygenization and gas concentration in the ventilation, whereas the volume mode focuses more on the amount of oxygen transmitted to the patient via the ventilator. However, the combined mode, as its name indicates, combines both properties and switches between them systematically according to the needs, which makes it earn the highest share in terms of revenue and usage in the market of chemical ventilators.
v. Segmentation based on end-users:
The usage of the mechanical ventilators goes towards specific end-users namely:
• Hospitals and various other healthcare institutions.
• Emergency medical services (EMS).
• Ambulatory care services.
• Domestic care.
Naturally, the healthcare institutions are the first end-user of this market and retain the largest share in terms of demand to respond to the rising numbers of patients in critical situations and in need of assisted ventilation. However, it is anticipated that the domestic care segment registers a high CAGR in the upcoming period which can be justified by the mass willingness of the geriatric population to be hospitalized and assisted at home.
vi. Segmentation based on the geographical distribution:
North America retains the biggest share in the market of mechanical ventilators due to its advanced healthcare system and its important local production in terms of these ventilators, along with the evident factors such as the rising need in the numbers of respiratory disease cases and the growing geriatric population rates. Both Europe and the APAC region are expected to catch up to the North American model and are anticipated to innovate more and create more trends to cater to their own local needs and the specificities or their healthcare systems and their populations. However, there is a global mass demand and a high market value in terms of mechanical ventilators due to the current pandemic of Covid-19.
The market forecast:
The global market of mechanical ventilators is subjected to a set of trends, dynamics, and restraints that shape it and condition its growth. The first dynamic expected to actively impact this market is the growing prevalence in terms of respiratory diseases that constitutes a big health threat for humanity and one of the prominent causes of death. The rising numbers of people attained by Asthma, pneumonia, lung cancer, and various other smoking complications are all expected to be in an urgent need for mechanical ventilators, along with the victims of the repercussions of extreme urbanization and pollution that are also in need of respiratory assistance. These patients are the demand that condition the market of mechanical ventilators.
The global age pyramid displays a prospective growth in the rates of a geriatric population in need of medical assistance and most specifically of easily accessible and vastly available ventilators. The market should be capable of catering to the needs of this specific segment of the population and work on the cost-effectiveness of these devices and their performance as to be extra careful with the well-being of this delicate population. In response to this perspective high demand, the market of mechanical ventilators should implement more innovative trends and dynamics such the design of mini-portable devices for easier mobility, as well as providing simplified versions of these ventilators for domestic usage and a mass retailing in different healthcare stores for optimal accessibility and availability.
However, the market is not only expected to widen its reach and respond to new dynamics and trends, it is also subjected to a variety of challenges and restraints that might threaten its profitability and its overall market value. On top of these drawbacks, there are the multiple health complications that a ventilator can cause if misused or inadequately programmed and that can lead to dangerous deteriorations in the health of patients and to severe repercussions, such as the occurrence of nosocomial pneumonia commonly called (ventilator-associated pneumonia) and pneumothorax that can threaten the overall condition of the patient on the long-term. Other challenges that face the industry of mechanical ventilators are the rising costs and prices that make a large selection of smaller and local health facilities, especially in developing countries unable to acquire them, even on a bigger scale, bulk demands do not get significant discounts which leave even advanced hospitals subjected to the limitedness of the numbers they can purchase. A challenge that seems quite threatening is the incompetence of certain medical staff members facing the complexity of the mechanical ventilators system, as they cannot safely handle these machines to cater to the specific needs of each patient leading in the most unfortunate cases to the abovementioned complications. The manufacturers of this industry need to think thoroughly about how to tend to these challenges by organizing training programs for the staff in charge to allow a better understanding of these devices and prevent any prevalence of undesirable side effects. Another alternative is to simplify the usage and make it user-friendly to the mass population even without a medical knowledge background.
On the bottom line, the market of mechanical ventilators is yet to flourish even more significantly in the upcoming years as a preventive approach against any dangers of a potential future epidemic outbreak. These measures will be the direct lesson learned from the health crisis the world has known because of Covid-19, only to prove that the real investment is the one targeted towards the well-being of humans rather than profit and economic success.
Medical Ventilator Market Competition
Key companies operating in this industry are Resmed, Philips Healthcare, Vyaire Medical, Medtronic, GE Healthcare, Draeger, Fisher & Paykel Healthcare, Teijin Pharma, WEINMANN, Yuwell, Breas Medical, Drive DeVilbiss Healthcare, Aeonmed, eVent Medical, Hamilton Medical, Airon Corporation, ARI Medical, Dima Italia, SternMed and Desco India.
• Medical Ventilator Market Revenue Estimation and Forecast (2020 – 2027)
• Production Estimation and Forecast (2020 – 2027)
• Sales/Consumption Volume Estimation and Forecast (2020 – 2027)
• Breakdown of Revenue by Segments (2020 – 2027)
• Breakdown of Production by Segments (2020 – 2027)
• Breakdown of Sales Volume by Segments (2020 – 2027)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Medical Ventilator Market Segmentation
Product Outlook (Revenue, USD Million, 2020 - 2027)
• Non-invasive Ventilator
• Invasive Ventilator
Application Outlook (Revenue, USD Million, 2020 - 2027)
• Home Use
• Hospitals and Clinics
Country (Revenue, USD Million, 2020 - 2027)
• United States
• South Korea
• Rest of Asia Pacific
• Rest of Europe
• Rest of South America
Middle East and Africa
• Saudi Arabia
Medical Ventilator Market Companies
• Philips Healthcare
• Vyaire Medical
• GE Healthcare
• Fisher＆Paykel Healthcare
• Teijin Pharma
• Breas Medical
• Drive DeVilbiss Healthcare
• eVent Medical
• Hamilton Medical
• Airon Corporation
• ARI Medical
• Dima Italia
• Desco India
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