A mechanical ventilator is a machine or device that helps to breathe and partially or completely supports the functions of the lungs. Ventilator helps to remove carbon dioxide from the lungs and provides oxygen to the body. It also provides pressure to keep the small air sacks in the lungs from collapsing. Mechanical ventilation is a form of life support that helps to breathe (ventilate) when a person can’t breathe on own. This can be during surgery.
The global mechanical ventilators market is estimated to be valued at US$ 5,124.2 million in 2022 and is expected to exhibit a CAGR of 6.7% during the forecast period (2022-2030).
Figure 1. Global Mechanical Ventilators Market Share (%), by Product Type, 2022
Global Mechanical Ventilators Market - Drivers
Adoption of inorganic growth strategies such as product launches by key market players is expected to drive the global mechanical ventilators market growth over the forecast period. For instance, in January 2020, Dragerwerk AG & Co. KGaA, a medical device company, announced that they had launched Evita V600 and V800 ventilators at Arab Health2020, a healthcare exhibition. Both ventilators combine high-performance ventilation with an aesthetic design that enables quick and efficient operation from the first onset of lung protective ventilation.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2022: | US$ 5,124.2 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 6.7% | 2030 Value Projection: | US$ 8,598.9 Mn |
| Geographies covered: |
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| Companies covered: |
Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Getinge AB, General Electric Company, Hamilton Medical, Medtronic, ICU Medical, Inc., Dragerwerk AG & Co. KGaA, ZOLL Medical Corporation, Koninklijke Philips N.V., VYAIRE, Fisher & Paykel Healthcare Limited, ResMed, Max Ventilator (A.B.Industries), NIHON KOHDEN CORPORATION, Inspiration Healthcare Group plc., CorVent Medical Inc., Inovytec, InnAccel Technologies Pvt Ltd., and OES Medical |
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| Restraints & Challenges: |
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Figure 2. Global Mechanical Ventilators Market Share (%), by Region, 2022
Global Mechanical Ventilators Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
COVID-19 can affect the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.
However, the COVID-19 pandemic had a positive impact on the global mechanical ventilators market. For instance, in May 2020, The U.S. Food and Drug Administration approved VITAL (Ventilator Intervention Technology Accessible Locally), a high-pressure ventilator for emergency use. The device was developed by NASA's Jet Propulsion Laboratory (JPL) in Southern California to free up the nation's limited supply of traditional ventilators so they may be used in patients with the most severe COVID-19 symptoms.
Global Mechanical Ventilators Market: Key Developments
Increasing adoption of inorganic growth strategies such as product approval by various regulatory authorities, such as the U.S. Food and Drug Administration is expected to drive the global mechanical ventilators market growth over the forecast period. For instance, in February 2021, Inovytec, a medical device company, announced that it had received 510(k) clearance to market and sell its Ventway Sparrow ventilators in the U.S. The Ventway Sparrow transport and emergency ventilators are designed for mobility, high performance, and ease of use.
Global Mechanical Ventilators Market: Restraint
Increasing number of product recalls by regulatory authorities such as the U.S. Food and Drug Administration is expected to hinder the market growth over the forecast period. For instance, in January 2022, the U.S. Food and Drug Administration recalled Class 1 device Trilogy Evo ventilators, which was manufactured by Koninklijke Philips N.V., a health technology company. The device was recalled due to potential health risks from the type of foam used in the devices.
Global Mechanical Ventilators Market - Key Players
Major players operating in the global mechanical ventilators market include Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Getinge AB, General Electric Company, Hamilton Medical, Medtronic, ICU Medical, Inc., Dragerwerk AG & Co. KGaA, ZOLL Medical Corporation, Koninklijke Philips N.V., VYAIRE, Fisher & Paykel Healthcare Limited, ResMed, Max Ventilator (A.B.Industries), NIHON KOHDEN CORPORATION, Inspiration Healthcare Group plc., CorVent Medical Inc., Inovytec, InnAccel Technologies Pvt Ltd., and OES Medical.
Mechanical ventilators is a machine that helps patients to breathe, at the time of surgery or critical illness. Mechanical ventilators are mostly used in hospitals and transport systems such as medical evacuation air transport and ambulances. Being on ventilator for a long duration can make patient more susceptible to pneumonia, and other risks such as vocal cords damage. Ventilators are used in case of respiratory failure or in breathing difficulty. When person cannot breath well, body organs cannot get enough oxygen to work and sometimes, too much carbon dioxide can build up in blood that needs to be breathed out. Acute respiratory distress syndrome, asthma, head injury, cardiac arrest, etc. are the conditions that affect breathing. Ventilators are also used at the time of surgery with general anesthesia.
Market Dynamics
Increasing adoption of inorganic strategies such as product launches by key market players is expected to drive the global mechanical ventilators market over the forecast period. For instance, in May 2022, Max Ventilator (A.B.Industries), a manufacturer of medical devices, announced that it had launched multifunctional non-invasive (NIV) ventilators that can be used in hospitals and home. It comes with inbuilt oxygen therapy and a humidifier. The ventilator is used for neonatal care as well as adult care. It can provide both non-invasive ventilation and oxygen therapy.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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