The global mechanical ventilator market was valued at USD 6.32 billion in 2020 and is projected to grow at a CAGR of 5.6% during the forecast period. Factors driving the growth of the mechanical ventilator market include growing elderly population, increasing incidence of Chronic Obstructive Pulmonary Disease (COPD) and increasing cases of COVID-19. Moreover, ventilator-associated pneumonia, delirium, and patient-ventilator asynchrony that is hard to resolve may hinder the market growth.
The global mechanical ventilator market is segmented based on product. Product is further split into critical care, neonatal, transport & portable and others. The critical care segment dominated the market in 2020, while transport and the portable mechanical ventilator is projected to observer the fastest CAGR over the forecast period.
Regionally, North America accounted for the largest market share of the global mechanical ventilator market attributable to increasing prevalence of respiratory disorders. Leading players of the global mechanical ventilator market include Getinge AB, Medtronic, Vyaire Medical Inc., Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V., GE Healthcare, Smiths Group plc, ACOMA Medical Industry Co., Ltd., Hamilton Medical among others.
Mechanical Ventilator Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 9.99 billion|
|Growth Rate||CAGR of 5.6% during 2021-2028|
|Segment Covered||Product, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Key Players Profiled||AB, Medtronic, Vyaire Medical Inc., Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V., GE Healthcare, Smiths Group plc, ACOMA Medical Industry Co., Ltd., Hamilton Medical among others.|
Key segments of the global mechanical ventilator market
Product Overview, 2018-2028 (USD Billion)
- Critical Care
- Transport & portable
Regional Overview, 2018-2028 (USD Billion)
- North America
- United Kingdom
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
Reasons for the study
- Increase in prevalence of respiratory disorders
- Hospitalizations due to COVID-19 infection
- Growing older inhabitants
What does the report include?
- The study on the global mechanical ventilator market includes qualitative factors such as drivers, restraints and opportunities
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global mechanical ventilator market is suitable for all the players across the value chain including product manufacturing companies, suppliers/distributors, R&D labs, CROs, healthcare organizations, medical reimbursement and insurance providers
- Venture capitalists and investors looking for more information on the future outlook of the global mechanical ventilator market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global mechanical ventilator market
Respiratory diseases and respiratory failure due to external injury are major concerns in public health problem worldwide. There are prevalent respiratory disorders, some of them include asthma, COPD and other enduring respiratory conditions. These conditions are on the rise in developing countries mostly due to air pollution, burning of biomass for fuel and smoking. Mechanical ventilators play a key role in patients who already have lung disease which are under risk to develop respiratory failure under a variety of challenges. Mechanical ventilators support patients breathe, letting the exchange of gases to occur in the lungs, a procedure called as artificial respiration. Moreover, the trailing coronavirus disease of 2019, which has evolved into a pandemic, is anticipated to distress patients with underlying respiratory disease in a larger number and greater brutality than patients with other underlying ailments. Nevertheless, it is challenging for both the doctors and patients is to keep the respiratory disease in remission and avoid any exacerbations.
On the basis of product, the transport and the portable mechanical ventilator is projected to observer the fastest CAGR by 2028.
The patient transport-related adverse events are common, with reported incidences as high as 68%. Portable ventilators are compact devices intended to deliver mechanical ventilation in situations where piped gases and mains electricity are inaccessible. They are generally used while transferring a patient from an accident sight, for transfer among healthcare facilities, domiciliary ventilation and for spontaneous intensive care amenities, for instance, military field hospitals, civilian contingency planning.
North America dominated the market for mechanical ventilators in 2020. The ventilators used in the United States are particularly functionally and technically urbane, however they have high costs. High costs hinders their penetration in less developed countries. Furthermore, these ventilators require expensive service agreements from the company as they are fragile and vulnerable if continuously used. In less developed countries, to save cost they have come up with sharing of ventilators between hospitals and acquiring of less reliable refurbished units. Since, majority of the hi-tech hospitals in these countries are situated in major cities, the rural and remote areas have often no access at all to mechanical ventilators. The inexpensive transport ventilator can play a crucial role in these circumstances.