Ventilators Market

Market Overview

The ventilators market was valued at USD 926.97 million in 2019 and is expected to grow with a CAGR of 7.5% during the forecast period, 2020–2029.

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.

Market Dynamics

Mounting Cases of Respiratory Disorders

Globally, the prevalence of chronic obstructive pulmonary diseases (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. The 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 and 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 suffer from respiratory diseases, further increasing the demand for ventilators.

Technological Advancements to Drive the Ventilators Market

The ventilators market’s most prominent driver is the technological advancements in respiratory medical devices. The development of Spontaneous Breathing Trial (SBT) to determine the breathing ability of the patient with minimum assistance of ventilator drives the market growth. Additionally, the rising demand for the CPAP system and heated humidified high-flow nasal cannula (HFNC) across the globe 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 at a considerable rate 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.

Segmental Analysis

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 growth. The portable non-invasive neonatal ventilators are extensively used in the treatment of patients with tuberculosis. In the next few years, the non-invasive ventilators are projected to combine with the next-generation technologies to expand their efficiency. For instance, Philips Respironics V60 is using auto-adaptive technology to deliver patient synchrony and approval of the therapy.

Portable Ventilators Segment to Grow at a Considerable Rate

The portable ventilators segment is projected to grow at a considerable rate.  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. Rapidly developing Point-of-Care (POC) service industry provides an impetus to the segment growth.

Impact of covid-19

COVID-19is 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.

Regional Analysis

The COVID-19 Outbreak to Create Dire Need for Ventilators Across North America

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

Government Initiatives to Drive Asia-Pacific's Ventilators Market

Asia-Pacific is predicted to witness the fastest growth in the ventilators 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 damage to the lungs. 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 is increasing the demand for ventilators across the region. 

Recent Developments

• In April 2020, JFD announced to launch a new patient-ventilator system, InVicto ventilator, to support the global health systems in combating the COVID-19 outbreak.
• In August 2019, Smiths Medical partnered with Medline Industries for the distribution of its Portex devices. The alliance will focus on the non-acute, home care channels and expand their respiratory division market across the globe.
• In January 2019, ResMedacquired Propeller Wellness, a remote therapy business offering interactive wellness options for people dealing with chronic obstructive pulmonary disease (COPD) and asthma.
• In September 2018, Royal Philips launched Trilogy Evo, a new portable life support ventilator that can deliver reliable therapy and monitoring.

Ventilators Market Segmentation

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

By Region

• North America
• Europe
• Asia-Pacific
• Central and South America and the Caribbean
• The Middle-East and Africa