FEATURED COMPANIES
- Air Liquide
- Ford Motor Company
- Getinge AB
- Medtronic plc
- ResMed
- Ventec Life Systems
Market Report Coverage - Ventilator Market
Market Segmentation
- Product Type - Intensive Care Ventilator and Portable Ventilator
- Modality - Invasive Ventilation and Non-Invasive Ventilation
- Patient Age - Adult and Pediatric and Neonates
- End User - Hospitals and Specialty Clinics, Emergency Medical Services, and Homecare
Regional Segmentation
- North America - U.S., Canada
- Europe - Germany, U.K., France, Italy, Spain, Rest-of-Europe
- Asia-Pacific - China, Japan, India, South Korea, Singapore, Australia and New Zealand, Rest-of-Asia-Pacific
- Rest-of-the-World - Latin America, Middle East and Africa
Growth Drivers
- Increasing Respiratory Disease Incidences
- Rising Geriatric Population
- Increase in Number of ICU Beds
- High Number of Premature Births
- Government and Organizational Initiatives to Boost Ventilator Production
Market Challenges
- Complications and Side-Effects Associated with Ventilator Usage
- Lack of Trained Medical Staff
Market Opportunities
- Coronavirus Outbreak Leading to Rising Global Ventilator Demand
- Increasing Requirement of Portable Ventilators for Homecare and Emergency Usage
- Development of Digital Education and Training Tool
Key Healthcare and Non-Healthcare Companies Profiled
Aerobiosys Innovations Private Limited, Air Liquide, Drägerwerk AG & Co. KGaA, General Electric Company, Getting AB, Hamilton Medical, Koninklijke Philips N.V., Löwenstein Medical Innovation GmbH & Co. KG, Medtronic plc, OneBreath Inc., Penlon Ltd, ResMed, SCHILLER, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Smiths Group plc, Ventec Life Systems, Ventinova Medical, VYAIRE MEDICAL, INC., WEINMANN Emergency Medical Technology GmbH + Co. KG and ZOLL Medical Corporation
Non-Healthcare Companies
Dyson Ltd, Ford Motor Company, General Motors Company, Maruti Suzuki India Limited, and Virgin Orbit
Key Questions Answered:
- What are the product types offered by the key players within the global ventilator market?
- What was the total installed base of ventilators, by country, in 2019?
- What is the change witnessed in the growth rate of the global ventilator market from pre-COVID to post-COVID scenario?
- What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
- What are the strategies opted by the healthcare and non-healthcare companies amidst coronavirus pandemic to meet the high demand for ventilators?
- What are the opportunities and challenges faced by healthcare and non-healthcare companies within the global ventilator market?
- What was the market share of each of the companies in mechanical ventilator and non-invasive ventilator segments of the global ventilator market in 2019?
- What are the pricing trends of ventilators in the last five years?
- What are the major regulatory changes taking place in the global ventilator market pre-COVID-19, during COVID-19, and post-COVID-19? How are these changes expected to impact the global ventilator market in the future?
- How is the industry expected to evolve during the forecast period, 2021-2030?
- What will be the impact on the products that have been awarded emergency use authorization (EUA) during the COVID-19 pandemic, once the pandemic is over?
- How has the supply and demand of the ventilator changed during the COVID-19 phase in contrast to the pre-COVID-19 phase?
- What is the market value estimates of the leading segments of the global ventilator market in 2030?
- What is the change witnessed in the growth rate of the global ventilator market from pre-COVID to post-COVID scenario?
- What are the major driving factors, challenges, and opportunities for the global ventilator market? What will be the impact of these factors once the COVID-19 pandemic is over?
- What is the growth potential of the global ventilator market in each region, including North America, Europe, Asia-Pacific, and Rest-of-the-World?
- What impact of large ventilator inventories on the global ventilator market is expected once the COVID-19 pandemic is over?
Market Overview
The global ventilator market is witnessing an exponential rise in the size of the market due to the ongoing COVID-19 pandemic. The overall market was estimated to be $1,072 million in FY 2018, and it was expected to grow at a CAGR of 7.1% in the pre-COVID scenario. However, the COVID-19 pandemic has resulted in an extensive rise in the ventilator demand and has increased the growth rate by up to 172% in 2020. Presently, more than 45 companies are operating in this market, including already exiting healthcare companies and emerging non-healthcare companies. The maximum number of installed ventilators are in the U.S., followed by China and India. However, there is still a requirement for an additional 85,000 ventilators to cope with the COVID-19 pandemic. This demand and supply deficit of ventilators worldwide has led to major changes within the dynamics of the global ventilator market.
Moreover, to cope with the rising demand for ventilators, regulatory bodies across different regions, such as the Food and Drug Administration (FDA), Health Canada, and Therapeutics Goods Administration (TGA), have taken unprecedented steps. For instance, in March 2020 FDA declared COVID-19 pandemic as a public emergency and authorized anesthesia gas machines, continuous positive airway pressure (CPAP), and other sleep apnea devices as alternative ventilators under emergency use authorization (EUA). Furthermore, in April 2020, the TGA published a document stating the minimum requirements to be met by medical devices to be used as alternative ventilators.
Our healthcare experts are continuously analyzing the impact of regulatory and industrial decisions on the global ventilator market. The market is driven by certain factors, which include the rising incidence of respiratory diseases, high rate of premature births, rising demand for critical care in the geriatric population, and government initiatives for boosting the ventilator production.
The market is favored by the development of low-cost ventilator products and partnerships between healthcare and non-healthcare companies for scaling up the ventilator production.
Within the research report, the market is segmented based on product type, modality, patient age, end user, and regional analysis. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
Enterprise License customers will receive an Excel spreadsheet containing additional data.
FEATURED COMPANIES
- Air Liquide
- Ford Motor Company
- Getinge AB
- Medtronic plc
- ResMed
- Ventec Life Systems
Executive Summary1 Product Definition
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FEATURED COMPANIES
- Air Liquide
- Ford Motor Company
- Getinge AB
- Medtronic plc
- ResMed
- Ventec Life Systems
According to the market intelligence report, titled “Global Ventilator Market – Analysis and Forecast, 2021-2030”, the global ventilator market was valued at $1,072 million in 2018 and has witnessed a growth of up to of 172% in 2020 due to the rise in demand pertaining to the coronavirus outbreak.
The exponential rise in respiratory infections due to coronavirus pandemic has accelerated the demand for ventilators globally. Various healthcare companies have ramped up their production rate to meet the high demand for ventilators in the market, and several non-healthcare companies have also emerged to manufacture ventilators amidst the coronavirus pandemic. Moreover, various strategies have been opted along with funding and rapid product approvals to allow an increase in the volume of production of ventilators in a limited time. Furthermore, various regulatory agencies across North America, Europe, Asia-Pacific, and Latin America have modified their regulations and approval process for ventilators. Furthermore, the regulatory agencies have also approved several devices under the emergency use authorization (EUA) provision.
According to Abdul Wahid, Principal Consultant, “In a pre-COVID scenario, the market was expected to grow the compound annual growth rate (CAGR) of 7.1%. However, the COVID-19 pandemic has resulted in an extensive rise in ventilator demand and has increased the growth rate by up to 172% and revenue to $3,110 million. The COVID-19 pandemic is anticipated to have a prolonged effect on the global ventilator market. Owing to the pandemic, the market is anticipated to register growth with a CAGR of 15.13%, post-COVID-19 during the forecast period 2021-2030”
Research Highlights:
- The largest installed base of the ventilators is in the U.S., and the region still has a requirement of an additional 85,000 ventilators to cope with the situation of the COVID-19 pandemic.
- The mechanical ventilator market is dominated by Hamilton Medical, Getinge AB, Drudgework AG & Co. KGaA and Shenzhen Mindray Bio-Medical Electronics Co., Ltd as these companies hold more than 60% of the market share cumulatively.
- The global regulatory landscape pertaining to the ventilators has undergone significant alterations due to the pandemic. Several companies such as Medtronic Plc, Beijing Aeonmed Co, Ltd, Shenzen Mindray Biomedical Electronics, Vyaire Medical Inc., ResMed, Philips Respironics (Subsidiary of Koninklijke Philips N.V.), Dragerwerk AG & CO. KGaA and GE Healthcare have been awarded EUA owing to the COVID-19 pandemic
- While the global ventilator market is anticipated to witness significant growth, the absence of trained clinical staff would remain a major restraint for the market. Furthermore, the market has the opportunity for expansion in portable ventilators and digital education and training segment.
- Europe’s ventilator market is anticipated to witness significant growth owing to the rising incidences and increasing manufacturing of the ventilators.
- Various government and industrial organizations in Middle East and Africa have revamped their production lines for manufacturing ventilators.
- The market has witnessed increased production from various healthcare companies. Furthermore, owing to the pandemic various start-ups have also emerged as key players. Non-healthcare companies across different industry verticals have also developed novel ventilator prototypes and are assisting healthcare companies in increasing ventilator production.
This market intelligence report provides a multi-dimensional view of the global ventilator market in terms of the product type, modality, patient age, end user, and regional analysis. This research report aims at answering the changing dynamics of the global ventilator market and the key companies penetrating the market along with their opportunities and challenges that can determine the overall growth of the market in upcoming years. The report also includes competitive landscape and product analysis in terms of the product offered by the key players, and their pricing range. This research report aims at answering the changing dynamics of the global ventilator market and the key companies penetrating the market along with their opportunities and challenges that can determine the overall growth of the market in upcoming years.
The report explicates the global market and enables the reader to get acquainted with the recent market activities, such as product launches and approvals, partnerships, agreements, business expansions, as well as regulatory and legal strategies. The research report provides a comprehensive analysis of the products offered by the key players and their pricing trends over the years. Additionally, the report provides a comprehensive opportunity analysis for the healthcare and non-healthcare companies operating in the global ventilator market currently. The regulatory landscape chapter of the report encompasses the risk assessment and the modified regulations for various agencies across North America, Europe, Asia-Pacific, and Latin America owing to the pandemic. The chapter also highlights the emergency use authorizations (EUA). Moreover, within the research report, the market is segmented based on product type, modality, patient age, end user, and regional analysis. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
The answers to the following key questions can be derived from this report:
- What are the product types offered by the key players within the global ventilator market?
- What was the total installed base of ventilators, by country, in 2019?
- What is the change witnessed in the growth rate of the global ventilator market from pre-COVID to post-COVID scenario?
- What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
- What are the strategies opted by the healthcare and non-healthcare companies amidst coronavirus pandemic to meet the high demand for ventilators?
- What are the opportunities and challenges faced by healthcare and non-healthcare companies within the global ventilator market?
- What was the market share of each of the companies in mechanical ventilator and non-invasive ventilator segments of the global ventilator market in 2019?
- What are the pricing trends of ventilators in the last five years?
- What are the major regulatory changes taking place in the global ventilator market pre-COVID-19, during COVID-19, and post-COVID-19? How are these changes expected to impact the global ventilator market in the future?
- How is the industry expected to evolve during the forecast period 2021-2030?
- What will be the impact on the products that have been awarded emergency use authorization (EUA) during the COVID-19 pandemic, once the pandemic is over?
- How has the supply and demand of the ventilator changed during the COVID-19 phase in contrast to the pre-COVID-19 phase?
- What is the market value estimates of the leading segments of the global ventilator market in 2030?
- What is the change witnessed in the growth rate of the global ventilator market from pre-COVID to post-COVID scenario?
- What are the major driving factors, challenges, and opportunities for the global ventilator market? What will be the impact of these factors once the COVID-19 pandemic is over?
- What is the growth potential of the global ventilator market in each region, including North America, Europe, Asia-Pacific, and Rest-of-the-World?
- What impact of large ventilator inventories on the global ventilator market is expected once the COVID-19 pandemic is over?
- Aerobiosys Innovations Private Limited
- Air Liquide
- Drägerwerk AG & Co. KGaA
- Dyson Ltd.
- Ford Motor Company
- General Electric Company
- General Motors Company
- Getinge AB
- Hamilton Medical
- Koninklijke Philips N.V.
- Löwenstein Medical Innovation GmbH & Co. KG
- Maruti Suzuki India Limited
- Medtronic plc
- OneBreath Inc.
- Penlon Ltd
- ResMed
- SCHILLER
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Smiths Group plc
- VYAIRE MEDICAL, INC.
- Ventec Life Systems
- Ventinova Medical
- Virgin Orbit (Subsidiary of Virgin Group)
- WEINMANN Emergency Medical Technology GmbH + Co. KG
- ZOLL Medical Corporation
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