Medical Ventilators Market

Market Snapshot

Fact.MR- a market research and competitive intelligence provider- establishes that global demand for medical ventilators 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 multiple respiratory and cardiac 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

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

Medical Ventilators Market- Scope of Report

A recent study by Fact.MR on the medical ventilators market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining growth of the market. This report explicates vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging associated with the manufacturing of medical ventilators.

The study also provides the dynamics responsible for influencing the future status of the medical ventilators market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the medical ventilators market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers a comprehensive analysis of diverse features, including production capacities, demand, product developments, revenue generation, and sales of medical ventilators across the globe.

A comprehensive estimate of the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of medical ventilators during the forecast period. Price point comparison by region with the global average price is also considered in the study.

Key Questions Answered in Report

• Which is the most lucrative medical ventilators markets?
• Which factors will impact the growth of the medical ventilators market?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the medical ventilators industry?
• What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for the Medical Ventilators market are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.

Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global medical ventilators market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which has helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the medical ventilators market during the forecast period.

Country-specific valuation on demand for medical ventilators has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions ad countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of medical ventilators, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering medical ventilators have been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which includes essentials such as product portfolios and key strategies, along with an all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the Medical Ventilators market domain.

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the medical ventilators market, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the draw conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.