Medical Ventilators Market

Medical Ventilators Market Outlook

The  global demand for medical ventilators market is poised to expand 2.5x to reach US$ 3.6 Bn from 2021 to 2031. As of 2020, the industry was valued at US$ 1.4 Bn, with sales surging rapidly in the wake of the COVID-19 pandemic outbreak. Future demand is highly reliant on the increasing number of patients suffering from chronic obstructive pulmonary disease and asthma.

Key Points Covered in Medical Ventilators Industry Survey

• Market Estimates and Forecasts 2016-2031
• Key drivers and restraints shaping market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Medical Ventilators Market and How to Navigate
• Recommendation on a Key Winning Strategy

Sales Analysis of Medical Ventilators from 2016-2020 Vs Future Outlook 2021-2031

As per estimates published by Fact.MR, sales of medical ventilators surged impressively, at a CAGR of 9% across the 2016-2020 historical period. Rising prevalence of chronic respiratory and cardiac ailments have majorly sustained demand for medical ventilators in the recent past.

The market received a major spurt in 2020, attributed to the COVID-19 outbreak. As of September 2021, global incidence of the novel coronavirus disease reached 222 million, with a fatality rate exceeding 4.5 million. Consequently, healthcare providers have increased their demand for ventilators to take care of severely infected patients.

Future prospects appear significantly bright, as numerous technological advancements penetrate the medical ventilators domain. For instance, the advent of microprocessor controlled ventilation would enable more efficient care for critically ill patients. From 2021 to 2031, the market will likely expand at a CAGR of 9.9% according to Fact.MR

How has COVID-19 Increased Medical Ventilators Deployment?

As the COVID-19 pandemic took firm hold over the globe, healthcare providers across all countries experienced a deluge of moderate to severely infected patients, putting a massive amount of strain on existing infrastructure. A major problem experienced in the beginning was the shortage of adequate ventilators.

According to the Imperial College of London, nearly 30% of coronavirus diagnosed patients require mechanical ventilation. Consequently, the demand for medical ventilators has soared, inclining demand in the past year alone.

To address this shortage, key pharmaceutical and healthcare stakeholders collaborated to produce more such ventilators, equipped with the latest technology in order to provide relief. For instance, the Imperial College of London designed the JAMVENT low-cost emergency ventilator, customized according to MHRA and FDA requirements.

How are Technological Advancements Generating New Opportunities?

Technological advances in microprocessor-controlled ventilation integrated with the complexity of new ventilator modes have provided for major advancements in treating patients with severe respiratory complications.

Upgraded ventilators are also primed for any kinds of exigencies and have numerous checks and balances in place. Patient-specific parameters such as air pressure, air volume, flow speed, and general parameters such as air leakage, mechanical failure, power failure, battery backups, oxygen tanks, and remote control are all equipped with sensors and monitors.

Country-wise Analysis

How is the U.S Fuelling Demand for Medical Ventilators?

The U.S is anticipated to emerge as one of the most opportunistic markets for medical ventilators. Fact.MR projects a revenue share of around 32% across the forthcoming decade, given the high prevalence rate of chronic respiratory ailments.

Mechanical ventilation is a vital component of critical services for patients with severe acute respiratory failure. According to a study published by the Johns Hopkins University, U.S acute care hospitals owned approximately 62,000 full-featured mechanical ventilators before the pandemic. Out of these, 46.4% could be used to ventilate paediatric and neonatal patients.

Additionally, the study investigated that 50% of COVID-19 infected patients required some form of mechanical ventilation across hospitals. Such increased requirements provided a major boost to the U.S market in the past year alone, with prospects like to remain lucrative through 2021 and beyond. 

How Lucrative are Growth Prospects across China? 

China witnessed substantial growth in the medical ventilator industry, being amongst the largest importers of medical equipment before the coronavirus outbreak. The market is forecast to register a CAGR of 8.5% from 2021 to 2031.

Key factors driving market growth comprise surging healthcare expenses, upgraded medical infrastructure, an upsurge in the geriatric population, and a rapid urbanization rate.

Regional manufacturers hold considerable sway in the Chinese market. Notable players include Beijing Aeonmed Co Ltd and Shenzhen Mindray Bio-Medical Electronics Co Ltd.

Category-wise Insights

Why are Critical Care Ventilators Witnessing High Demand?

Critical care ventilators are expected to remain in the limelight, attributed to the ever increasing number of patients requiring intensive care for cardiac ailments and multiple respiratory ailments, capturing over 40% revenue in 2020.

As countries rev up expenditure on strengthening healthcare infrastructure, the number of hospitals and clinics have surged, mushrooming demand for critical care ventilators in the recent past. Demand especially spiked amidst COVID-19.

Why are Non-Invasive Ventilators Gaining Momentum?

The non-invasive ventilators segment is projected to increase splendidly, at a CAGR of 12.1% between 2021 and 2031. The non-invasive ventilators segment is estimated to capture a significant chunk of the medical ventilators market.

Projections indicate a market share exceeding 50% of the total medical ventilators landscape. This is attributed to its rising adoption in homecare and critical care units. Low cost, augmented domiciliary usage and precise delivery of controlled oxygen are some benefits associated with non-invasive ventilation.

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.  

Manufacturers are now focusing on boosting ventilator manufacturing capacity to meet the urgent global demand and stay competitive during the COVID-19 pandemic.

• For instance, Philips Healthcare have developed the Trilogy EV300 ventilator that delivers enhanced performance in non-invasive (NIV) and invasive (IV) ventilation, so patients can be treated with a single device throughout their hospital stay, regardless of changing conditions.
• Similarly, Switzerland-based Hamilton Medical has received FDA approval to bring its medical device, an MR compatible ventilator the HAMILTON-MR1, to the United States. The HAMILTON-MR1 features a gaussmeter that displays the magnetic field’s shape and strength around itself, helping clinicians to safely position the unit near the MRI scanner.

Report Scope

Attribute	Details
Market size value in 2020	USD 1.4 Billion
Market forecast value in 2031	USD 3.6 Billion
Growth Rate	CAGR of 9.9% from 2021 to 2031
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania Middle East & Africa
Key Countries Covered	U.S Canada Brazil Mexico Argentina Germany Italy France U.K Spain BENELUX Russia China Japan South Korea India ASEAN Australia New Zealand GCC Turkey South Africa
Key Market Segments Covered	Product Type Technology End User Region
Key Companies Profiled	Becton Dickinson and Company Cardinal Health Inc. GE Healthcare Koninklijke Philips N.V Hamilton Medical AG Smith Medical Inc. Drägerwerk AG Getinge Fisher & Paykel Healthcare Bunnell Incorporated
Pricing	Available upon Request

Key Segments Covered

• Product Type

  • Critical Care Medical Ventilators
  • Transport and Portable Medical Ventilators
  • Neonatal Medical Ventilators

• Technology

  • Invasive Medical Ventilators
  • Non-Invasive Medical Ventilator

• End User

  • Medical Ventilators for Hospitals
  • Medical Ventilators for Ambulatory Surgical Centres
  • Medical Ventilators for Long Term Care Centres
  • Medical Ventilators for Home Care Settings
  • Medical Ventilators for Emergency Health Services