Due to the increased frequency of respiratory disorders and the growing elderly population, the mechanical ventilator market is likely to expand significantly over the next years with a CAGR of 8.16%. Additionally, according to our estimate, the global mechanical ventilator market will grow from a US$ 4,577.82 million valuation in 2022 to an US$ 8,938.98 million valuation in 2031.
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The aging population, which raises the risk of Chronic Respiratory Diseases, is another reason for boosting the mechanical ventilator market. As people get older, their likelihood of getting respiratory infections rises, increasing the need for breathing assistance devices such as mechanical ventilators. The World Health Organisation (WHO) predicts that by 2050, there will be 2 billion people in the world who are 60 or older, up from 900 million in 2015.
Because COVID-19 can induce severe respiratory distress and respiratory failure, and because mechanical ventilation may occasionally be needed to maintain breathing, the COVID-19 pandemic has also increased the requirement for mechanical ventilators. According to a report published in the Annals of the American Thoracic Society, the overall number of invasive mechanical ventilation days for patients in critical care increased by 38% from April 2020 to December 2020.
Competitive Landscape
The top 3 players control more than 56% of the global mechanical ventilator market’s revenue.
With more than 35 years of experience, Hamilton Medical is one of the top manufacturers of mechanical ventilators. It has subsidiaries and distributors in more than 100 nations, which provides a wide variety of ventilators. In 2022, the company’s revenue increased by more than 21%. Getinge AB and Dragerwerk AG & Company KGaA are next in line.
The mechanical ventilator market is fiercely competitive, and numerous important competitors have developed tactics to survive and preserve their dominance.
For instance, in January 2023, Getinge, a leading provider of medical technology, introduced the Servo-c mechanical ventilator, which provides both pediatric and adult patients with lung-protective therapy instruments. Servo-c uses modular component parts to enable intelligent fleet management. Without requiring specialized disposables, this ensures uptime and lowers costs.
In October 2022, Max Ventilator declared that it was prepared to broaden its market by releasing sophisticated gadgets, such as an oximeter, an ECG, and monitors.
In North America, mechanical ventilator sales totaled more than 102,22,000 units.
The US is the country that contributes the most to the mechanical ventilator market in North America. This is a result of the nation’s huge demand for these devices. People in the US need mechanical ventilation for a variety of reasons, including health issues like COPD and asthma. Given the large number of beds in intensive care units in the US and the fact that many hospitals have been investing in new ventilator systems, this is not shocking.
Chronic respiratory conditions like COPD, asthma, and lung cancer are common in the US. The third biggest cause of death in the nation, COPD has been diagnosed in around 16 million Americans as of 2021, according to the Centres for Disease Control and Prevention (CDC). Lung cancer is the second most prevalent malignancy in the US, and around 25 million Americans suffer from asthma.
Additionally, the US population is aging, and chronic respiratory disorders tend to become more common as people get older. Nearly 73 million Americans were 65 or older as of 2021, and the United States Census Bureau predicts that the figure will rise to about 92 million by 2060. The need for mechanical ventilators and other respiratory care equipment is likely to increase in the future due to this demographic trend.
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Segmentation Overview
In terms of Segmentation, the healthcare segment is the leading consumer of mechanical ventilators.
The data also reveals that, with over 46% of the market share, hospitals and clinics are the main consumers of mechanical ventilators. Thus, the significance of hospitals and clinics in promoting the expansion of the mechanical ventilator market. The demand for mechanical ventilators in hospitals and clinics is likely to increase due to the rising number of patients with respiratory illnesses and preterm births.
Rising Demand for Non-Invasive and Portable Mechanical Ventilators
The market research report projects that 204,520 mechanical ventilators will be sold globally in 2022, with a sizable share of those sales coming from non-invasive and portable ventilators.
With more than 57% of all sales, non-invasive ventilators, which are intended to offer respiratory assistance without the need for intrusive procedures like intubation, dominated the market. Since non-invasive ventilation is thought to be more patient-friendly and cost-effective than invasive ventilation and can also lower the risk of problems related to invasive procedures, it is likely that this trend will continue.
44% of the total sales were made up of portable ventilators, which enable patients to receive care while being transported or outside of the hospital. This reflects both the expanding use of home healthcare services and the rising need for flexibility and mobility in the healthcare sector.
Key Players:
- Becton, Dickinson and Company
- Bunnell Incorporated
- Carl Reiner GmbH
- Drägerwerk AG & Co. KGaA
- GE Healthcare
- Getinge AB
- Hamilton Medical
- ICU Medical, Inc
- Koninklijke Philips N.V.
- Medtronic
- Mindray Medical International Limited
- Penlon Limited
- ResMed
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd
- Smiths Medical
- Vyaire Medical Inc.
- Zoll Medical Corporation
- Other prominent players
Segmentation Outline
The global mechanical ventilator market segmentation focuses on Component, Type, Mode, Mobility, Age Group, End-User, and Region.
By Component
- Hardware/Devices,
- Services
By Type
- Negative pressure ventilation (NPV),
- Positive pressure ventilation (PPV)
By Mode
- Invasive
- Non-invasive
- CPAP
- BiPAP
- Others
By Mobility
- Fixed
- Portable
By Age Group
- Pediatric & Neonatal,
- Adult, Geriatric
By End User
- Hospital & Clinic,
- Home Care,
- Ambulatory Surgical Center
- Others
By Region
- North America
-
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
-
-
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
-
- Eastern Europe
-
- Poland
- Russia
- Rest of Eastern Europe
-
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia & New Zealand
- ASEAN
-
- Taiwan
- Malaysia
- Indonesia
- Singapore
- Philippines
- Rest of ASEAN
- Rest of Asia Pacific
-
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Argentina
- Brazil
- Rest of South America
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