The global mechanical ventilator market was valued at $ 4,652.34 million in 2020, and is estimated to reach $ 18,632.21 million by 2030 at a CAGR of 12.82% from 2021 to 2030.
A mechanical ventilator is a machine that helps a patient breathe (ventilate) when they are having surgery or cannot breathe on their own due to a critical illness. Patients are connected to the ventilator with a hollow tube (artificial airway) that goes in their mouth and down into their main airway or trachea. They remain on the ventilator until they improve enough to breathe on their own. Mechanical ventilators are also used as a diagnostic method to evaluate static compliance of airway resistance and respiratory system irregularities.
Increase in incidence of chronic respiratory diseases, such as lung cancer, chronic obstructive pulmonary disease (COPD), asthma, bronchitis, and other lung disorders as well as surge in demand for mechanical ventilator support notably contribute toward the growth of the global mechanical ventilator market. In addition, rise in number of road accidents and other casualties lead to substantial requirement of mechanical ventilators. In addition, increase in aged individuals who are susceptible to respiratory disorders is one of the key drivers of the market. For instance, according to the American Cancer Society’s 2021 Statistics, most of the people over the age of 65 are prone to lung cancer. Moreover, technological advancements in respiratory care devices such as noninvasive ventilation technology and portable mechanical ventilators supplement the market growth. Rise in preference of portable and home care ventilations for long-term ventilated patients is further expected to positively impact the market growth.
However, risks associated with mechanical ventilation such as lung infection, pneumonia, & lung injury, and high cost of mechanical ventilators hamper the market growth.
On the contrary, surge in demand for mechanical ventilators has increased, owing to the COVID-19 outbreak, resulting in increased in number of ICU admissions worldwide. According to the World Health Organization (WHO), as of July 2020, estimated 16,114,449 confirmed cases of COVID-19 diagnosed around the world. Hence, this exponential increase in COVID-19 cases across the world requires long-term and short-term respiratory support, which, in turn, increased the demand for mechanical ventilators, thus fueling the market growth.
The global mechanical ventilator market is segmented into component, product type, mode, end user, age group, and region. On the basis of component, the market is bifurcated into devices and services. By product type, it is categorized into intensive care unit/critical care, transport/portable/ambulatory, and neonatal care ventilator. The intensive care mechanical ventilators segment hold a dominant share in the global market. However, the transport/portable/ambulatory mechanical ventilators segment is expected to be the fastest growing segment, owing to technological innovations and shift in trends to home care ventilation.
Depending on mode, the market is segregated into noninvasive ventilation and invasive ventilation. The noninvasive ventilators segment is expected to grow at a rapid pace, as these ventilators are convenient for patients, have fewer side effects, and faster recovery. Moreover, noninvasive ventilators are specifically designed for critically ill patients suffering from respiratory failure, congestive cardiac failure, and for newborns.
Based on age group, the market is categorized into pediatric, adult, and geriatric. The adult segment dominated market, and this trend is expected to continue during the forecast period. By end user, it is segmented into hospital and clinic, home care, ambulatory surgical centers, and others. The hospital segment has garnered the highest share, owing to increase in hospitalization of patients during COVID-19. Region wise, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA. North America led the market, due to presence of well-established healthcare infrastructure.
The key players operating in the global mechanical ventilator market include Asahi Kasei Corporation (Zoll Medical Corporation),Carl Reiner GmbH, Draegerwerk AG & Co. KGaA, Getinge AB (Maquet Holding B.V. & Co. KG), General Electric Company (GE Healthcare), Hamilton Medical AG, Koninklijke Philips N.V., Medtronic Plc. (Covidien Ltd.), Mindray Medical International Limited, Smiths Group Plc. And Vyaire Medical Inc.
A mechanical ventilator is a machine that helps a patient breathe (ventilate) when they are having surgery or cannot breathe on their own due to a critical illness. Patients are connected to the ventilator with a hollow tube (artificial airway) that goes in their mouth and down into their main airway or trachea. They remain on the ventilator until they improve enough to breathe on their own. Mechanical ventilators are also used as a diagnostic method to evaluate static compliance of airway resistance and respiratory system irregularities.
Increase in incidence of chronic respiratory diseases, such as lung cancer, chronic obstructive pulmonary disease (COPD), asthma, bronchitis, and other lung disorders as well as surge in demand for mechanical ventilator support notably contribute toward the growth of the global mechanical ventilator market. In addition, rise in number of road accidents and other casualties lead to substantial requirement of mechanical ventilators. In addition, increase in aged individuals who are susceptible to respiratory disorders is one of the key drivers of the market. For instance, according to the American Cancer Society’s 2021 Statistics, most of the people over the age of 65 are prone to lung cancer. Moreover, technological advancements in respiratory care devices such as noninvasive ventilation technology and portable mechanical ventilators supplement the market growth. Rise in preference of portable and home care ventilations for long-term ventilated patients is further expected to positively impact the market growth.
However, risks associated with mechanical ventilation such as lung infection, pneumonia, & lung injury, and high cost of mechanical ventilators hamper the market growth.
On the contrary, surge in demand for mechanical ventilators has increased, owing to the COVID-19 outbreak, resulting in increased in number of ICU admissions worldwide. According to the World Health Organization (WHO), as of July 2020, estimated 16,114,449 confirmed cases of COVID-19 diagnosed around the world. Hence, this exponential increase in COVID-19 cases across the world requires long-term and short-term respiratory support, which, in turn, increased the demand for mechanical ventilators, thus fueling the market growth.
The global mechanical ventilator market is segmented into component, product type, mode, end user, age group, and region. On the basis of component, the market is bifurcated into devices and services. By product type, it is categorized into intensive care unit/critical care, transport/portable/ambulatory, and neonatal care ventilator. The intensive care mechanical ventilators segment hold a dominant share in the global market. However, the transport/portable/ambulatory mechanical ventilators segment is expected to be the fastest growing segment, owing to technological innovations and shift in trends to home care ventilation.
Depending on mode, the market is segregated into noninvasive ventilation and invasive ventilation. The noninvasive ventilators segment is expected to grow at a rapid pace, as these ventilators are convenient for patients, have fewer side effects, and faster recovery. Moreover, noninvasive ventilators are specifically designed for critically ill patients suffering from respiratory failure, congestive cardiac failure, and for newborns.
Based on age group, the market is categorized into pediatric, adult, and geriatric. The adult segment dominated market, and this trend is expected to continue during the forecast period. By end user, it is segmented into hospital and clinic, home care, ambulatory surgical centers, and others. The hospital segment has garnered the highest share, owing to increase in hospitalization of patients during COVID-19. Region wise, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA. North America led the market, due to presence of well-established healthcare infrastructure.
The key players operating in the global mechanical ventilator market include Asahi Kasei Corporation (Zoll Medical Corporation),Carl Reiner GmbH, Draegerwerk AG & Co. KGaA, Getinge AB (Maquet Holding B.V. & Co. KG), General Electric Company (GE Healthcare), Hamilton Medical AG, Koninklijke Philips N.V., Medtronic Plc. (Covidien Ltd.), Mindray Medical International Limited, Smiths Group Plc. And Vyaire Medical Inc.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current market trends and future estimations from 2021 to 2030, which assists in identifying prevailing market opportunities.
- An in-depth analysis of various regions is likely to provide a detailed understanding of the current trends to the stakeholders to formulate region-specific plans.
- Comprehensive analysis of factors that drive and restrain growth of the mechanical ventilator market are provided.
- Key regulatory guidelines for the mechanical ventilator market are critically dealt according to region.
- A deep dive analysis of various regions provides insights that would allow companies to strategically plan their business moves
KEY MARKET SEGMENTS
By product type
- Intensive care unit/critical care
- Transport/portable/ambulatory
- Neonatal car
By component
- Devices
- Services
By mode
- Noninvasive ventilation
- Invasive ventilation
By age group
- Pediatric & neonatal
- Adult
- Geriatric
By end user
- Hospital & clinic
- Home care
- Ambulatory surgical center
- Other
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- Asahi Kasei Corporation (Zoll Medical Corporation)
- Carl Reiner GmbH
- Draegerwerk AG & Co. KGaA
- Getinge AB (Maquet Holding B.V. & Co. KG)
- General Electric Company (GE Healthcare)
- Hamilton Medical AG
- Koninklijke Philips N.V.
- Medtronic Plc. (Covidien Ltd.)
- Mindray Medical International Limited
- Smiths Group Plc.
- Vyaire Medical Inc
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MECHANICAL VENTILATOR MARKET, BY PRODUCT TYPE
CHAPTER 5: MECHANICAL VENTILATOR MARKET, BY COMPONENT
CHAPTER 6: MECHANICAL VENTILATOR MARKET, BY MODE
CHAPTER 7: MECHANICAL VENTILATOR MARKET, BY AGE GROUP
CHAPTER 8: MECHANICAL VENTILATOR MARKET, BY END USER
CHAPTER 9: MECHANICAL VENTILATOR MARKET, BY REGION
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Asahi Kasei Corporation (Zoll Medical Corporation)
- Carl Reiner GmbH
- Draegerwerk AG & Co. KGaA
- Getinge AB (Maquet Holding B.V. & Co. KG)
- General Electric Company (GE Healthcare)
- Hamilton Medical AG
- Koninklijke Philips N.V.
- Medtronic Plc. (Covidien Ltd.)
- Mindray Medical International Limited
- Smiths Group Plc.
- Vyaire Medical Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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