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The mechanical ventilators market size is estimated to grow at a CAGR of 6.32% between 2022 and 2027. The market size is forecast to increase by USD 1,752.83 million. The growth of the market depends on several factors, including the growing healthcare infrastructure and health expenditure, the growing ageing population globally, and the expansion of the product portfolios through new launches.
This mechanical ventilators market report extensively covers market segmentation by end-user (hospitals, ambulatory surgery centres, and home-care settings), product (critical care ventilators, portable ventilators, and neonatal), technology (non-invasive and invasive), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing healthcare infrastructure and health expenditure are notably driving the market growth, although factors such as several risks associated with the use of mechanical ventilators may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing healthcare infrastructure and health expenditure is the key factor driving the growth of the global mechanical ventilators market. The ventilator market is growing significantly due to improvements in medical infrastructure. The infrastructure for planning, evaluating, delivering, and implementing public health improvements is often referred to as health infrastructure. The outbreak of the COVID-19 pandemic has increased the demand for better healthcare facilities and infrastructure readiness. To meet urgent needs and avoid shortages of emergency medical equipment, many hospitals are increasing their ventilator capacity.
For instance, National Health Expenditures (NHE) increased by 2.7% to USD 4.3 trillion in 2021, or USD 12,914 per person, and it represented 18.3% of the GDP. Spending on Medicare increased by 8.4% to USD 900.8 billion in 2021 or 21% of all NHE. Medicaid spending increased by 9.2% to USD 734.0 billion in 2021, representing 17% of all NHE spending. As a result, the market for mechanical ventilators is expanding as a result of the expanding healthcare expenditure and infrastructure. This is expected to boost the growth of the global mechanical ventilator market during the forecast period.
The growing number of product innovations is the primary trend in the global mechanical ventilators market. To reduce ventilator workload, companies are investing in research and development of new products that automate ventilators based on rate, support control, and time. For instance, OES Medical, a UK-based manufacturer of anesthesia accessories and equipment, introduced the Gemini-G100, an electrically driven piston ICU ventilator, in January 2022. The brand-new Gemini-G100 is intended to support intensive care teams everywhere where the availability of high-pressure oxygen gas is an issue. It doesn't put any strain on the hospital's oxygen supply and only needs electricity.
Similarly, in January 2022, OES Medical joined the ABHI UK Pavilion at Arab Health 2022 to introduce a new mains-powered ICU ventilator that is expected to help hospitals control their oxygen demand. Such a growing number of product innovations is one of the growing trends which is expected to drive the growth of the global mechanical ventilators market during the forecast period.
Several risks associated with the use of mechanical ventilators are a major challenge to the growth of the global mechanical ventilators market. There are several problems that can develop from using a ventilator such as infections, collapsed lung (pneumothorax), lung damage, and inability to discontinue ventilator support. In infections, Pneumonia can be a serious issue and is more common in patients who are on a ventilator. While the pneumonia is being treated with antibiotics, a patient may need to stay on the ventilator for a longer period. A weak spot or hole in the lung may occasionally develop, allowing air to escape and leading to lung collapse. Loss of life may result from a severe lung collapse.
Moreover, the pressure of using a ventilator to force air into the lungs and extremely high oxygen levels can harm the lungs. Sometimes, despite receiving treatment, the condition that necessitated the use of a ventilator does not get better. The medical staff will then talk to you about your preferences for treatment, including whether you want to stay on the ventilator going forward. Thus, several risks associated with the use of mechanical ventilators are expected to become a major challenge for the growth of the global mechanical ventilators market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Mechanical Ventilators Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Fisher and Paykel Healthcare Corp. Ltd.: The company offers mechanical ventilators such as F and P 950 Humidification System. Also, under this segment, the company focuses on the design, manufacture, marketing, and sale of medical devices and systems.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the hospitals segment will be significant during the forecast period. The increasing number of public and private specialty hospitals are expected to influence the growth of the hospital segment in this global mechanical ventilation market during the forecast period.
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The hospitals segment was valued at USD 1,767.15 million in 2017 and continued to grow until 2021. The increasing prevalence of the disease, especially among the elderly, has increased the demand for various medical devices such as hospital ventilators. Several technological advances and innovations have improved the reliability of ventilators and increased their demand in medical facilities such as hospitals. This is expected to drive the growth of the hospital segment, which in turn drives the growth of the global orthopedic soft tissue repair devices market during the forecast period.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, the incidence and prevalence of several chronic diseases such as heart disease and cancer have increased significantly. For instance, according to projections, there were 1,898,160 new cancer cases and 608,570 cancer deaths in the US in 2021. The increasing number of cases of such chronic diseases has increased the demand for surgical intervention as part of the overall treatment. In some cases, patients are admitted to the intensive care unit or intensive care unit for hours or days after surgery. Intensive care ventilators are used in such cases to provide temporary ventilatory or breathing assistance to patients who cannot breathe on their own. The effects of the general anesthesia used during surgery continue for some time after surgery, so patients who are transferred to the intensive care unit are put on a ventilator. This is anticipated to drive the growth of the North American ventilator market during the forecast period.
The lockdowns imposed owing to the outbreak of the COVID-19 pandemic across North America have resulted in the closure of various industries, including those manufacturing various medical equipment such as critical care ventilators. However, the sudden rise in the number of reported cases of COVID-19 across North America surged the manufacture of medical ventilators, including critical care ventilators. Established vendors increased the volume of production for medical ventilators, including critical care ventilators. For instance, in March 2020, ResMed stated in its press release that it had increased its manufacturing capacities to maximize the availability of ResMed ventilators, including critical care ventilators. Such initiatives taken by the healthcare and non-healthcare sectors to increase the production of medical ventilators, including critical care ventilators, are expected to boost the growth of the mechanical ventilators market in North America during the forecast period.
The mechanical ventilators market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global mechanical ventilators market as a part of the global pharmaceuticals market within the healthcare industry. The parent, the global pharmaceuticals, market covers products and companies engaged in R&D or production of generic drugs, non-generic drugs, and veterinary drugs. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Mechanical Ventilators Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.32% |
Market growth 2023-2027 |
USD 1,752.83 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.67 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key countries |
US, UK, Germany, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Air Liquide SA, Allied Healthcare Products Inc., Asahi Kasei Corp., Boston Scientific Corp., Dragerwerk AG and Co. KGaA, Fisher and Paykel Healthcare Corp. Ltd., General Electric Co., Getinge AB, Hamilton Bonaduz AG, ICU Medical Inc., Koninklijke Philips NV, Medtronic Plc, MicroPort Scientific Corp., Mindray Bio medical Electronics Co. Ltd, Nihon Kohden Corp., ResMed Inc., SCHILLER AG, Smiths Group Plc, Stryker Corp., and Vyaire Medical Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Market Segmentation by Technology
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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