Global High Flow Ventilators Market Grows Steadily at a CAGR of 6.02%

Introduction

A ventilator is a type of breathing apparatus, a medical technology category that provides mechanical ventilation to patients who are physically not able to breathe or breathing insufficiently. A ventilator provides oxygen to the lungs, aids in extracting carbon dioxide (CO2) from the airways, and applies pressure to prevent the alveoli (small air sacs) from contracting. In its basic configuration, a modern positive-pressure ventilator comprises a compressible air reservoir or turbine, valves and tubes, air and oxygen supplies, and a disposable or reusable "patient circuit."

Market Dynamics

Growing Prevalence of Respiratory Diseases Drives the Global Market

The prevalence and incidence of respiratory illnesses are on the rise, and their prevalence is anticipated to increase globally. This target population, which includes those who work in factories that produce drugs and antibiotics and who report breathing problems, has a higher prevalence of occupational asthma. In 2019, doctors in the United Kingdom who participated in the SWORD (Surveillance of Work-Related and Occupational Respiratory Diseases) scheme estimated 174 new cases of occupational asthma.

In addition, according to the November 2021 article "Association of Chronic Lower Respiratory Disease With County Health Disparities in New York State," chronic lower respiratory disease (CLRD) is the fourth leading reason of death in the U.S., and approximately 14.8 million people have been diagnosed with COPD. Consequently, the statistics above indicate that the prevalence of respiratory diseases is rising worldwide, driving the demand for high-flow ventilators to provide oxygen therapy to patients and help them overcome breathing difficulties, thereby driving the market's growth.

Increasing Adoption of High-end Technologies in Critical Care Creates Tremendous Opportunities

The global commercial environment for product development and advancements is rapidly expanding, necessitating advanced technologies for critical care. Hamilton Medical ventilators provide a continuous display of all relevant monitoring parameters for high-flow oxygen therapy, including oxygen concentration, flow rates, SpO2 (optional), humidifier temperature, and trends, to minimize the risks of hyperoxia and associated complications resulting from the incorrect administration of oxygen.

Moreover, in October 2021, Movair, a company specializing in respiratory therapy, will release Luisa, an advanced ventilator designed for invasive and non-invasive ventilation in homes, institutions, hospitals, and portable applications. This technological advancement in the segment of ventilators developed by major players generates demand for high-flow ventilators for use in critical care, thereby creating opportunities for market expansion.

Regional Analysis

North America is the most significant global high flow ventilators market shareholder and is anticipated to exhibit a CAGR of 5.54% during the forecast period. The key market drivers are the region's growing elderly population and rising incidence of respiratory diseases. The increase in government and non-government initiatives also contributes to a rise in total revenue. For instance, the National Asthma Control Program (NACP) of the CDC funds asthma patient education. Such initiatives are likely to increase asthma awareness and the adoption of asthma treatment equipment, resulting in vertical expansion. In addition, numerous regional businesses are introducing new products or undertaking strategic initiatives to increase their market share. For instance, Getinge Canada released version 4.0 of its software for the Servo-u intensive care ventilator in March 2021. Version 4.0 includes transpulmonary pressure monitoring and automatic lung recruitment maneuvers for individualized lung protection and weaning.

Europe is estimated to exhibit a CAGR of 5.78% over the forecast period. The market is anticipated to be driven by the rising demand for high flow ventilators due to the increase in respiratory diseases and the number of surgeries. According to the Germany Federal Statistical Office's 2020 report, Germany's population is approximately 83 million. There are about 16.2 million people above the age of 67, projected to reach 21.4 million by 2040. In addition, the country's soaring geriatric population supports market expansion. According to the Office for National Statistics Report published in January 2022, the population of the United Kingdom is expected to increase by 2.1 million to 69.2 million (a 3.2% increase) in the ten years leading up to mid-2030. Thus, the expanding elderly population is highly susceptible to chronic respiratory diseases and requires surgical interventions and treatment, boosting regional market growth.

Key Highlights

• The global high flow ventilators market was valued at USD 1,809.73 million in 2022. It is estimated to reach 3,057.50 million by 2031, growing at a CAGR of 6.02% during the forecast period (2023–2031).
• Based on modality, the global high flow ventilators market is divided into portable high flow ventilators and trolley-mounted high-flow ventilators. The trolley-mounted high-flow ventilators segment is the largest revenue contributor to the market and is expected to exhibit a CAGR of 6.19% throughout the forecast period.
• Based on the end-user, the global high flow ventilators market is segmented into hospitals, ambulatory surgical centers, and other end-users. The hospitals segment owns the highest market share and is estimated to exhibit a CAGR of 5.96% during the forecast period.
• North America is the most significant global high flow ventilators market shareholder and is anticipated to exhibit a CAGR of 5.54% during the forecast period.

Competitive Players

1. Getinge AB
2. Hamilton Medical
3. HERSILL
4. Medtronic (Covidien)
5. Koninklijke Philips NV
6. Movair
7. VYAIRE
8. Asahi Kasei (ZOLL Medical Corporation)

Recent Developments

• July 2023- The Food and Drug Administration (FDA) of the United States approved Getinge's new mechanical ventilator, Servo-air Lite.
• March 2023- Superior Sensor Technology introduced the VN Series pressure sensor family with proprietary oversampling technology. It expanded the dynamic range, enabling companies to rapidly design and manufacture high-performance ventilators and high-flow oxygen devices to support a wider range of patient breathing requirements.

Segmentation

1. By Modality
   1. Portable High Flow Ventilators
   2. Trolley Mounted High Flow Ventilators
2. By End-User
   1. Hospitals
   2. Ambulatory Surgical Centers
   3. Other end-users