The mechanical ventilators market size was valued at USD 3.48 billion in 2022, and it is estimated to reach USD 7.48 billion by 2027, at an increasing compound annual growth rate of 16.5% from 2022 to 2027.
The ventilators are the machines that aid in managing the breath problems of the patients by providing a high concentration of oxygen into the lungs. The ventilators reduce the amount of energy when a patient uses while breathing. Breathing problems arise because of nervous system injuries, unconscious obligated to several infections, and drug overdose. As per the recently published data, the world health organization stated that the corona cases had been increased to 10.6 million in January 2021 globally. According to the reports given by the imperial college Landon, it is estimated that 30% of the COVID-19 hospitalized patients need mechanical ventilators. The market is witnessing market growth during the forecast period.
In the recent period, it is observed that the prone of respiratory disorders are increased due to the rise in the geriatric population. The high prevalence of respiratory diseases is directly increasing the ventilators. Increasing preterm birth and rising ICU beds are boosting the market growth. Other factors such as an increase in the incidence of chronic diseases, investment, and funding by the government and private organizations to developed the healthcare infrastructure are expected to drive the mechanical ventilators market growth. In recent times, the COVID-19 has increased the need for ventilators. It is estimated 5 to 15% of the patients suffering from Coronavirus require ventilator support; thus, the demand for ventilators market is showing significant growth during the forecast period.
However, hospitals and clinics require mechanical ventilators for more extended periods; the payment in this category is paid on a monthly rental basis by Medicare; due to inadequate funds, Medicare cannot pay the price, which is usually seen in rural areas. The Medicare in rural areas cannot afford to purchase or acquire necessary ventilators, which is a primary challenging factor for restricting the demand of mechanical ventilators market.
IMPACT OF COVID-19 ON MECHANICAL VENTILATORS MARKET
Coronavirus is an infectious disease; it spread to 215 countries, affected more than 96.1 million people, and caused 2.05 million deaths. Moreover, during the covid-19 period, the drastic increase in the Coronavirus infected cases, there was a shortage of ventilators because of the nationwide lockdown and ban on flights. Due to the ban on flights, the supply chain had been stopped, and the market had experienced a downfall at the initial stages of 2020. The latter period of Covid-19 has positively affected the market growth of the mechanical ventilators market. The substantial increase in the cases created the demand for mechanical ventilators over the forecast period. According to the world health organization, COVID-19 cases have been drastically increased in the past few months. The manufactures in the industry are focusing on producing mechanical instruments by increasing the production capacity. However, the market is expected to have better growth during the forecast period.
Market Size Available
2021 to 2027
2022 to 2027
By Product Type, By Mode, By End User
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
Dragerwerk AG & Co. KGaA, ResMed, Philips Healthcare, Medtronic Plc, GE Healthcare, Getinge Group, Smiths Medical, Fisher and Paykel Healthcare Limited, Dickinson and Company, Becton, and Hamilton Medical AG.
This research report on the Global Mechanical Ventilators Market has been segmented and sub-segmented into the following categories and calculated market size and forecast for each segment until 2027.
Mechanical ventilators Market - By product type
Based on the product type, the intensive care segment has recorded the majority market share during the market forecast period with attributing growth factors such as increasing adoption of easy-to-use portable mechanical ventilators for the growing geriatric population and rise in demand for transport ventilators during the emergency cases in remote areas.
Mechanical Ventilators Market – By Mode
On the basis of by mode, non-invasive ventilation is anticipated to have an increasing compound annual growth rate of 19.3% by 2026. Better convenience than invasive ventilation, cost-effectiveness, and moreover, availability of segments outside the ICU setting are creating demand for non-invasive ventilation.
Mechanical Ventilators Market – By End User
Based on the end-user, the hospitals and clinics segment was estimated to hold the majority share of the mechanical ventilation market in 2019. The factors such as financial capabilities to purchase high-priced instruments and availability of skilled and professionals to operate Mechanical ventilators, and rapidly increasing infectious diseases with an increasing geriatric population are propelling the market growth.
North America Mechanical Ventilators Market held the majority market share of the global market with a revenue of 31.7% in 2022, and dominated the mechanical market with a majority share. The growth attributed factors such as active participation of key market players, manufacturers in the market are focussing on producing and expanding the ventilators supply are propelling the mechanical ventilators market growth in this region.
The Europe Mechanical Ventilators Market Size is expected to reach at a decent rate if CAGR during the forecast period 2022 to 2027.
During the forecast period, the Asia Pacific Mechanical Ventilators Market is anticipated to have better growth in the mechanical ventilators market owing to the increase in the incidence of infectious diseases, chronic respiratory diseases, and the increasing number of respiratory disorders that are creating the demand for ventilators.
The Size of the Latin America Mechanical Ventilators Market is projected to reach USD 0.61 billion by 2027, registering at a CAGR of 17.49% during the forecast period.
Middle East Africa Mechanical Ventilators Market witnessed significant market growth over the forecast period. The influential factors such as healthcare infrastructure facilities available in this region and the availability of skilled and professional to operate ventilators are further expected to drive the market growth during the forecast period.
Major key players in the Global Mechanical Ventilators Market profiled in the report are Dragerwerk AG & Co. KGaA, ResMed, Philips Healthcare, Medtronic Plc, GE Healthcare, Getinge Group, Smiths Medical, Fisher and Paykel Healthcare Limited, Dickinson and Company, Becton, Hamilton Medical AG.
RECENT MARKET DEVELOPMENTS
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product Type
5.1.2 Critical Care
5.1.3 Neonatal Intensive Care
5.1.5 Y-o-Y Growth Analysis, By Product Type
5.1.6 Market Attractiveness Analysis, By Product Type
5.1.7 Market Share Analysis, By Product Type
5.2.4 Y-o-Y Growth Analysis, By Mode
5.2.5 Market Attractiveness Analysis, By Mode
5.2.6 Market Share Analysis, By Mode
5.3 End User
5.3.3 Trauma Centres
5.3.4 Home Healthcare
5.3.5 Disease Risk Assessment
5.3.6 Other Applications
5.3.7 Y-o-Y Growth Analysis, By End User
5.3.8 Market Attractiveness Analysis, By End User
5.3.9 Market Share Analysis, By End User
5.4 By Age Group
5.4.1 Pediatric and neonates
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product Type
188.8.131.52 By Mode
184.108.40.206 By End User
220.127.116.11 By Age Group
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Product Type
126.96.36.199 By Mode
188.8.131.52 By End User
184.108.40.206 By Age Group
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product Type
22.214.171.124 By Mode
126.96.36.199 By End User
188.8.131.52 By Age Group
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Dragerwerk AG & Co. KGaA
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.3 Philips Healthcare
8.4 Medtronic Plc
8.5 GE Healthcare
8.6 Getinge Group
8.7 Smiths Medical
8.8 Fisher and Paykel Healthcare Limited
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
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