The Mechanical Ventilators Market was valued at USD 6,490 million in 2020, and it is expected to reach USD 9,695 million by 2026, registering a CAGR of 7.5% during the period.
The impact of COVID-19 pandemic on the mechanical ventilators market is positive because it has increased use of mechanical ventilators in the management of the disease. For instance, according to a research study by Yang Wang et al., published in American Journal of Respiratory and Critical Care Medicine February 2020, in China, 23 (65.7%) patients received invasive ventilation. A total of 134 (40.6%) patients were treated with mechanical ventilation (either non-invasive or invasive). Among tem 34 received treatment of non-invasive ventilation, whereas invasive ventilation was given to 100 patients.
Furthermore, as per above source, median duration from admission to invasive ventilation was 5 days, and median duration of invasive ventilation was 4 days. This indicates there was a high demand for mechanical ventilators during COVID-19 pandemic 2020.
Globally, increased geriatric population coupled with higher incidences of chronic conditions such as chronic obstructive pulmonary disease (COPD) are driving the market growth. For instance, according to the Global Asthma report, 2018, globally, chronic respiratory diseases affect more than one billion people. In addition, asthma is one of the largest contributors to this figure, affecting children, adults, and elderly people. There is a high prevalence of severe asthma in the emerging markets of MEA and Latin America, compared to the mid-range prevalence in North America, Europe, and Asia-Pacific.
Furthermore, more recently, the COVID-19 outbreak has also increased the demand for respiratory devices like ventilators. For instance, in March 2020, Zoll Medical Corporation executed a plan to increase manufacturing capacity to 10,000 ventilators per month. This production volume expansion helped in the treatment of patients suffering from COVID-19 and will ultimately lead to the market expansion.
In addition, in March 2020, Koninklijke Philips N.V. established its production site in the United States to meet the increasing demand for ventilators during the COVID-19 pandemic.
In August 2019, Smiths Medical, a medical device manufacturer, entered partnership with Medline Industries for distribution of its portex devices. The partnership will focus on the non-acute, home care channels and expand their respiratory division market gloabally. Thus, owing to above mentioned factors, it is expected to drive the market growth over the forecast period.
Key Market Trends
Intensive Care Ventilators Segment is Expected to Hold Significant Market Share Over the Forecast Period
Intensive care ventilators are used to deliver ventilatory support to patients who cannot breathe on their own or who require assistance to maintain adequate ventilation. Neonates and adults both can be ventilated by using intensive care ventilators and can vary in condition, from very critical, unstable patients to relatively stable postoperative patients. The intensive care ventilators segment is expected to account for the major market share owing to the technological advancements and increasing focus of manufacturers to develop them.
The demand for mechanical ventilators has increased over the past few months owing to the COVID-19 outbreak resulting in the increase in the number of ICUs admissions across the globe. For instance, according to the World Health Organization (WHO), as of May 2021, there were around 154,815,600 confirmed cases of COVID-19, including 3,236,104 deaths. Furthermore, globally, exponential rise in COVID-19 cases requiring long and short-term respiratory support will further drive the market growth positively.
In January 2021, Inovytec company, engaged in a deal to supply 1,500 progressive portable ventilators to Italy, Brazil, and Israelcountries and entered into an agreement with California-based distributor to supply portable ventilators. The portable ventilators will assist patients with respiratory illnesses throughout the present COVID-19 pandemic and beyond.
Also, notable developments in the intensive care segment attribute to its prominent share in the market. Advancements such as spontaneous Breathing Trial (SBT), used to assess the patient's ability to breathe while receiving minimal or no ventilator support and Auto TRAK, which improve patient experience contribute to higher revenue of the segment.
The market players adopted various strategies such as product launches, collaborations, acquisitions to increase market share. For instance, in December 2020, CorVent Medical, entered into an arrangement with Siemens Healthineers for the United States distribution of the RESPOND-19 Ventilator to their network of the healthcare system, hospitals, and government customers. The RESPOND-19 Ventilator accompanies Siemens Healthineers contribution of cutting-edge technology by enhancing reliable, critical care respiratory care that increases ventilation capacity in surges in patient capacities, such as throughout a flu season or pandemic.
Portable ventilators are widely used in hospitals owing to their convenience, faster and continuous care to patients even prior to their arrival in the hospital premises. Thus, the rising number of hospitals are also expected to fuel the segment growth as they increase the demand for products due to their efficiency and variety of applications. Thus, owing to above mentioned factors it is expected to drive market growth over the forecast period.
North America Dominates the Market and is Expected to do the Same over the Forecast Period
Some of the factors which are driving the market growth include increased prevalence of chronic obstructive pulmonary disease (COPD) and respiratory disorders, well-established healthcare infrastructure, and presence of key market players in the region.
As per the Society of Critical Care Medicine, the stock of hospital ventilators in the United States was around 160,000 units in the first quarter of 2020. Moreover, over 6.09 million active COVID-19 cases as of August 2020, and an estimated 960,000 Americans needed mechanical helped to breathe during the pandemic as per the American Association for Respiratory Care. Mechanical ventilators thus experienced a sudden spike in the demand in 2020 in the United States which is expected to boost the market growth.
According to a report by the Centers for Disease Control and Prevention (CDC), in March 2020, there were around 53% ICU admissions out of total hospitalizations due to COVID-19 infection.
In addition, according to a research study by Silvio A. Namendys-Silva et al., published in Critical Care February 2021, in Mexico, about 15.3% of hospitalized patients required invasive mechanical ventilation (IMV), and 70.8% of patients received invasive mechanical ventilation (IMV) outside the ICU.
As per American Lung Association 2021, Chronic obstructive pulmonary disease (COPD) is the third leading cause of death by disease in the United States. More than 16.4 million people have been diagnosed with chronic obstructive pulmonary disease (COPD). Chronic obstructive pulmonary disease (COPD) causes serious long-term disability and early deaths which demands a higher requirement of ventilators, generating the revenue to the market.
Asthma is a major public health concern in Canada. As a lifelong respiratory illness, asthma affects work productivity, quality of life, mental health, and psychological wellbeing of the Canadian population. In Canada, over 3.8 million individuals had asthma in 2019, as per the 2019 annual asthma survey report. Due to the high incidence of asthma in Canada, the demand of mechanical ventilators is expected to rise in the coming years.
Additionally, increasing intensive care admissions, the rising introduction of ventilation modes such as acute non-invasive ventilation which avoid lung injury are likely to drive the growth of the mechanical ventilator market. Hence, owing to these factors, the region will witness significant market share over the forecast period.
The Mechanical ventilation market is moderately competitive. Some of the key players are manufacturing and launching new products while others are distributing the ventilators which is fueling the market growth. Some of the market players include Getinge AB, Medtronic Plc, Smiths Medical, Koninklijke Philips N.V., ResMed Inc., and Others.
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TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Increased Prevalence of Chronic Obstructive Pulmonary Disease (COPD) and Respiratory Disorders
- 4.2.2 Increased Global Population, Increase in Number of Healthcare Centers and Hospitals with Rise in Demand for Minimally Invasive Procedures
- 4.3 Market Restraints
- 4.3.1 Highly Expensive Materials and Processes Involved in the Manufacture of Ventilators and Higher Cost of Healthcare Systems
- 4.3.2 Growing Incidences of Ventilator-Associated Pneumonia
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Mobility
- 5.1.1 Intensive Care Ventilators
- 5.1.2 Portable Ventilators
- 5.2 By Interface
- 5.2.1 Invasive Ventilation
- 5.2.2 Non-Invasive Ventilation
- 5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Home Healthcare
- 5.3.3 Other End Users
- 5.4 Geography
- 5.4.1 North America
- 188.8.131.52 United States
- 184.108.40.206 Canada
- 220.127.116.11 Mexico
- 5.4.2 Europe
- 18.104.22.168 Germany
- 22.214.171.124 United Kingdom
- 126.96.36.199 France
- 188.8.131.52 Italy
- 184.108.40.206 Spain
- 220.127.116.11 Rest of Europe
- 5.4.3 Asia-Pacific
- 18.104.22.168 China
- 22.214.171.124 Japan
- 126.96.36.199 India
- 188.8.131.52 Australia
- 184.108.40.206 South Korea
- 220.127.116.11 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 18.104.22.168 GCC
- 22.214.171.124 South Africa
- 126.96.36.199 Rest of Middle East and Africa
- 5.4.5 South America
- 188.8.131.52 Brazil
- 184.108.40.206 Argentina
- 220.127.116.11 Rest of South America
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Getinge AB
- 6.1.2 Medtronic Plc
- 6.1.3 Koninklijke Philips N.V
- 6.1.4 Smiths Medical
- 6.1.5 ResMed Inc
- 6.1.6 Hamilton Medical AG
- 6.1.7 Dragerwerk AG & Co. KGaA
- 6.1.8 Shanghai Fosun Pharmaceutical (Group) Co. Ltd (BREAS MEDICAL)
- 6.1.9 GE Healthcare
- 6.1.10 Mindray Medical International Limited
- 6.1.11 Nihon Kohden Corporation
- 6.1.12 Vyaire Medical Inc
- 6.1.13 ACOMA Medical Industry Co., Ltd
- 6.1.14 Fisher & Paykel
- 6.1.15 Zoll Medical Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS