Ventilators Market Size, Share & Trends Analysis Report By Product (Invasive ventilation, Non-invasive ventilation), By Mobility (Intensive care ventilator, Portable/transportable ventilator), By Mode (Volume mode ventilation, Pressure mode ventilation, Combined mode ventilation), By End-Use (Hospital, Home care, Ambulatory care center(ASCs), EMS) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

 The global ventilators market size was valued at USD 1205.06 million in 2023 and is projected to reach a value of USD 1691.72 million by 2031, registering a CAGR of 7.5% during the forecast period 2023-2031.

The ventilator is a piece of medical technology used in intensive care units to assist patients unable to breathe independently. Ventilators are used in hospitals, rehab facilities, and at home. They can be used on the system temporarily or permanently (as in long-term care). A ventilator consists of an endotracheal tube, a nasogastric drain, and mechanical ventilation. By giving oxygen to the patient, ventilation devices eliminate carbon dioxide from their bodies. Although it is intended to maintain life, it is not utilized to treat illnesses or other medical conditions. Patients with chronic obstructive pulmonary disease (COPD), asthma, brain injuries, and strokes need mechanical ventilation. A ventilator is life-supporting healthcare equipment that controls the patient's breathing during treatment. They are used in chronic lung failure or other disorders that result in inadequate respiratory system operation.

The increasing prevalence of chronic respiratory disorders among the world's population due to rising pollution levels is the main factor driving the worldwide market. The World Health Organization lists chronic obstructive pulmonary disease (COPD), asthma, occupational lung disease, and pulmonary hypertension as the most prevalent chronic respiratory diseases. Globally, 253 million individuals struggle with asthma. Over 5 million patients are admitted to ICUs in the U.S. each year, according to the Society of Critical Care Medicine. Mechanical breathing is necessary for 40% and 50% of these ICU admissions. As a result, it is anticipated that the usage of ventilators will increase in the years to come due to the increased number of ICU admissions.

Market Dynamics

Global Ventilators Market Drivers

Mounting Cases of Respiratory Disorders

Globally, the prevalence of chronic obstructive pulmonary disease (COPD) is increasing at a concerning rate. As per the WHO, in 2016, around 251 million people suffered from mild to extreme COPD. As per the Centers for Disease Control and Prevention (CDC) report, in 2018, about 9 million adults in the U.S. were diagnosed with chronic bronchitis, further increasing the demand for ventilators. Geriatrics are highly susceptible to respiratory disorders. As per the United Nations study released in 2017, the global geriatric population was about 962 million and is projected to reach over 2.1 billion by 2050. As per the U.S. government, about 40,000 ventilators are needed for people with coronavirus in the U.S.

Surging mortality rates for neonates, growing numbers of preterm births, and increasing demand for emergency care for chronic infections are subsequently increasing the demand for ventilators. The growing prevalence of chronic diseases can be attributed to environmental pollution, alcohol consumption, and an unhealthy lifestyle. These people are highly prone to respiratory diseases, increasing the demand for ventilators.

Technological Advancements 

The ventilators market's most prominent driver is the technological advancements in respiratory medical devices. The development of a Spontaneous Breathing Trial (SBT) to determine the patient's breathing ability with minimum assistance from a ventilator drives the market growth. Additionally, the global demand for the CPAP system and heated humidified high-flow nasal cannula (HFNC) drives the market. These systems are used for the treatment of several neonatal and pediatric conditions. The demand for high-frequency ventilators has been rising considerably as they are cost-effective. Moreover, the advancements in ventilators are projected to have smart algorithms that will predict the pattern and approximate the weaning time of the patient.

Global Ventilators Market Restraints

Risks related To the Use of Ventilators

The dangers involved with using mechanical ventilators may limit the industry's growth. More mechanical breathing is needed since there is a risk of infection from germs entering the artificial airway. The frequent opening and closure of the lungs' tiny air sacs can potentially cause lung damage. As a result, the market for ventilators is anticipated to face difficulties over the forecast period due to the dangers of using devices.

Global Ventilators Market Opportunity

Various Ventilator Advancements

Additionally, several technological developments, such as the creation of advanced portable ventilators and advancements in ventilator sensor technologies, are predicted to create lucrative market opportunities. Additionally, the market will have a lot of growth opportunities thanks to advancements in non-invasive and microprocessor-controlled portable ventilators.

Regional Analysis

Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America dominates the market.

North America leads the market. The COVID-19 outbreak has severely hit the U.S. As to the American Government, around 40,000 ventilators are needed nationwide. The lockdown is creating a shortage of ventilators across the region. To address the situation, the U.S.'s leading car manufacturers are channeling efforts to develop ventilators. For instance, General Motors plans to manufacture about 10,000 ventilators per month.

Similarly, Ford announced manufacturing about 50,000 ventilators in the next 100 days. The U.S. Food and Drug Administration is planning to grant Emergency Use Authorization, which enables unapproved medical products to be used in emergencies to address the need for ventilators. The U.S. government has also introduced the National Newspaper and Defense Development Act, which grants Chrysler, General Motors, Toyota, and other automobile firms the authorization to manufacture ventilators.

The U.S. is housing a huge geriatric and smoker population. The country is backed by robust healthcare infrastructure, high healthcare spending, and leading market players, such as Bunnell Inc., ResMed Inc., Smiths Medical, and Medtronic plc. As per the National Institutes of Health, currently, above 25 million people have asthma in the U.S. Around 14.8 million adults are diagnosed with COPD. Rising awareness about the latest technologies and surging spending power drive regional market growth.

Asia-Pacific is predicted to witness the fastest growth in the market during the forecast period. The COVID-19 outbreak in China and other Asian countries has increased the need for ventilators. As per the Government of India, the country needs about 50,000 ventilators. To address the dire situation, companies in India and China are actively working on manufacturing cost-effective, non-invasive ventilators. The developments in ventilators have enabled them to provide quicker weaning, improved gas exchange, improved oxygenation, and less lung damage. The surging need for state-of-the-art ventilation equipment drives the regional market growth. Apart from this, the rising incidence of preterm births and increasing prevalence of respiratory diseases are increasing the demand for ventilators across the region. 

The market in Europe is seeing significant growth and will keep expanding over the forecast period. This results from pharmaceutical companies spending more money on research and development capabilities. Another factor promoting growth in this area is the rise in the prevalence of respiratory and pulmonary diseases.

The Brazilian market dominated the LAMEA market. Due to the increasing number of patients needing urgent care, there is a massive demand for critical care equipment. The world's existing healthcare infrastructure must be upgraded since it cannot keep up with the rising demand. The Middle East has lower asthma rates than industrialized nations; among 13–14-year–old children, the overall asthma rate was 7.57%, and among children aged 6-7, it was 7.43%. Additionally, this demonstrated that guys had a higher prevalence of asthma. The prevalence rate was highest (22.3%) in Baghdad, Iraq, and lowest (0.7%) in Isfahan, Iran.

Segmental Analysis

For better understanding, the market is segmented by product, mobility, mode, end use and region.

By product, the market is further divided into Invasive ventilation and Non-invasive ventilation.

Technological Advancement to Drive the Non-Invasive Ventilators Segment. The non-invasive neonatal ventilators segment registered the highest market share in 2019. The rising prevalence of chronic obstructive pulmonary disease (COPD) is increasing the demand for non-invasive ventilators. The non-invasive ventilators offer portability and miniaturization, remote patient control, and accessibility, further driving the segment's growth. Portable, non-invasive neonatal ventilators are extensively used in the treatment of patients with tuberculosis. In the next few years, non-invasive ventilators are projected to combine with next-generation technologies to expand their efficiency. For instance, Philips Respironics V60 uses auto-adaptive technology to deliver patient synchrony and approval of the therapy.

Based on mobility, the market is sub-segmented into Intensive care ventilators and Portable/transportable ventilators.

Portable Ventilators Segment to Grow at a Considerable Rate, The portable ventilators segment is projected to grow considerably. They are extensively used for their flexibility and diversity of applications in different care delivery settings ranging from home care to outpatient centers. The rising prevalence of asthma and respiratory diseases is projected to surge the demand for portable ventilators. The rapidly developing Point-of-Care (POC) service industry provides an impetus for segment growth.

Impact of covid-19

COVID-19 is an infectious disease affecting the respiratory system, further increasing the demand for ventilators across the globe. As per theWorld Health Organization (WHO), to date, over 1 million people have been infected with the coronavirus. The outbreak is expected to have a severe effect on the global economy, disrupting the supply chain.

The COVID-19 epidemic has surged the demand for medical ventilators across the globe. As of 30 March, around 638,928 people (excluding China) were affected with COVID-19, and the death toll reached 30,672. Thus, the rising number of critical patients is subsequently increasing the need for ventilators globally.

Globally, the lack of surgical devices and ventilators is creating immense pressure on the healthcare industry. Europe is majorly hit by the coronavirus, and the shortage of medical devices is making the situation worse. On 25 March, the EU announced that only 10% of the ventilators demand could be met throughout the region. The American Academy of Critical Medicine estimates that more than 960,000 patients would require ventilators, and the total demand could exceed 1,281 thousand units. To address the situation, the EU has launched the Save Europe Medical Equipment Reserve.

Recent Developments

• In October 2022, At the 2022 World Stroke Congress, Philips highlights the most recent developments in stroke treatment.
• In October 2022,Philips improved M.R. radiation imaging and simulation for head and neck tumors.
• In October 2022, Philips's ClarifEye augmented reality surgical guidance system is now available in Japan.
• In March 2022, G.E. Healthcare is creating a digital health platform to assist providers in accelerating their digital transformation.