Mechanical Ventilator Market Size, Share & Trends Report

Mechanical Ventilator Market Size, Share & Trends Analysis Report, By Product (Critical Care Ventilators, Neonatal Mechanical Ventilators), And Segment Forecasts, 2012 - 2022

  • Published Date: Feb, 2018
  • Base Year for Estimate: 2015
  • Report ID: 978-1-68038-543-4
  • Format: Electronic (PDF)
  • Historical Data: 2012 - 2015
  • Number of Pages: 53

Industry Insights

The global mechanical ventilator market size was valued at USD 3.3 billion in 2016 and is expected grow at a CAGR of 6.5% during the forecast period. Increase in incidence of chronic obstructive pulmonary disease (COPD), rapid growth in the geriatric population, technological innovation, and rise in the incidence of respiratory emergencies in respiratory care devices are the major factors that drive the mechanical ventilators market over the forecast period. The evolution of patient-friendly, cost-effective and portable devices further encourage their usage.

North America mechanical ventilators market

Key drivers of the market include technological advancements and supportive government funding in emerging economies. The manufacturers and assemblers in emerging economies such as India and China are focusing towards creating cost efficient non-invasive ventilation solutions in order to cater the local needs and provide flexibility in patient care. Small scale players are catering to the customization needs of their local markets through collaborations and partnerships.

Also, extensive evolution in terms of efficiency, design, safety and other factors since introduction of these devices, resulted in many significant benefits such as improved weaning, better gas exchange, better oxygenation, and providing least damage to the lungs. Integration of high-speed signal processing and on-board intelligent firmware in mechanical ventilation has resulted in offering other benefits such as minimal side effects and lower adverse effect on systemic and pulmonary circulation. 

Further, growing global base of geriatric population is expected to enhance the applicability of the market, fueling its growth. As per the report published by United Nations in 2012, the global geriatric population was around 809.4 million and by 2050 it is anticipated to grow more than double to reach an estimated population of over 2,000 million. Increasing geriatric population base requiring long term ventilation is expected to drive the demand for healthcare facilities offering long-term treatment for chronic respiratory conditions.

Development of healthcare infrastructure in emerging economies, along with rising awareness about the available treatments for chronic respiratory diseases led to rapid adoption of mechanical ventilators in these nations. Increasing government support, growing awareness level, rising disposable income and increasing private funding towards prevention and efficient treatment for respiratory diseases is expected to drive this market over the forecast period.

The market is anticipated to be driven by the huge population base suffering from respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD) and sleep apnea. According to WHO estimates, 65 million people suffer from moderate to severe COPD. Moreover, as per the WHO estimates, COPD is predicted to be the third leading cause of death worldwide. Such huge number is expected to bolster the market growth.

Increasing need for emergency treatment for prolonged illnesses and protracted treatment associated with lung diseases in children as well as adults are expected to drive the growth of the market. COPD and sleep apnea is attributed to greater susceptibility of the geriatric population as a consequence of different immunological conditions. Also, the prevalence of COPD and sleep apnea is almost twice in the elderly population in the age group of 70 years to 80 years.

Product Insights

The mechanical ventilators available are segmented into four types depending on the use. These include; critical care ventilators, neonatal mechanical ventilators, transport and portable ventilators and others. Critical care ventilators dominate the global revenue share for 2014 due to high adoption and installation rate in hospitals.

The rise in number of hospitals over the forecast period is expected to sustain this growth. Transport and portable mechanical ventilators held 34.3% of the market share in 2014 and is expected to increase to 36.9% by 2022.

The demand for transport and portable mechanical ventilator is increasing owing to the efficiency to be operable in different care delivery settings. The application of transport and portable ventilators ranges from home care to ambulatory centers. Growth in the market for point-of-care treatment and increase in cases of medical emergencies are vital drivers of the segment growth. Hospitals are encouraging the usage of portable ventilators to provide continuous and faster care to patients before their arrival in the premises. Portable ventilators prompt the patients to adopt home care, hence increasing its popularity.

Production and technological system up gradation leading to the development of highly compact, robust and smaller ventilators providing high performance are expected to drive the growth of the segment.  Neonatal care is also expected to witness the rise in market share to 17.1% by 2022. The neonatal population growth would be driven due to increase in the fertility rate of women and increase in the age of child bearing with various races.

Regional Insights

Rising number of chronic obstructive pulmonary diseases worldwide and a surge in geriatric population base are triggering the growth of the mechanical ventilators market. The Asia Pacific market is considered to be the most lucrative segment for this market over the forecast period owing to increasing cases of chronic respiratory diseases, rising healthcare expenditure and tax benefits provided by governments in this region.

Global mechanical ventilators market

Also, the growth within this region is attributed to the development of infrastructure and healthcare policies promoting better care provision to individuals. The rising trend of lifestyle habits such as smoking and genetic allergy developments expediting the number of cases of respiratory disorders further promotes market growth. China’s Five Year Plan from 2011 includes various healthcare reforms that support the expansion of the market within the region. Over the next seven years, according to various economic reports, the healthcare spending per capita is expected to rise for developing nations of the continent, providing a lucrative profit for the market.

North America accounted for the largest market for mechanical ventilators in the year 2014 and is estimated to have a market share of over 41.7%. COPD was the third leading cause of death in the United States in 2011 according to the CDC (Center for Disease Control and Prevention). In addition, healthcare cost containment issues post the economic crisis have compelled the government to introduce new strategies to reduce the patient stay in the hospitals and impose an excise tax on medical devices to the tune of 2.3% of their annual sales from 2013. Moreover, rising geriatric population in the U.S. is leading to the increasing incidences of respiratory disorders, which further boost the market growth.

Europe is anticipated to register a lucrative growth during the forecast period. European countries include Germany, France, U.K., Spain, Italy and rest of Europe (RoE). A significant rise has been observed in the cases of COPD in this region. For instance, around 2 to 3 lacks people die each year in Europe because of COPD according to European Lung Foundation. In Europe, sales of these devices are largely dependent on the replacement of these devices. Also, home care devices market is anticipated to have a healthy growth over the forecast period. The major players in the European market are GE Healthcare and Draeger.

Mechanical Ventilators Market Share Insights

The major share of the mechanical ventilators market share is held by companies such as Draeger Medical, GE Healthcare, Maquet Gmbh, Philips Respironics, Teleflex, and Smiths Medical.

The players are actively involved in technological advancement and new product development in order to sustain their position in the market. For example, In August 2014, CareFusion Corporation launched an application on their Respiratory Knowledge Portal. The application was developed to help clinicians in improving patient care levels of ventilated patients. Also, in April 2014, Smiths Medical announced PNEPAC ParaPAC Plus in Canada and the U.S. which received approval by the U.S. FDA. It is the most advanced mechanical ventilator working entirely on pneumatics and was commercially available from May 2014.

Also, the key players are acquiring companies in the related market to increase their market share. For instance, in July 2014, Covidien Plc was acquired by Medtronic Plc with the vision to accelerate innovation and medical technology. The process completed at the start of 2015.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2012 - 2015

Forecast period

2016 - 2022

Market representation

Revenue in USD Million & CAGR from 2015 to 2022

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Report coverage

Revenue, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analysts working days)

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, & country levels as well as provides an analysis on the latest trends and opportunities in each of the sub-segments from 2012 to 2022. For the purpose of this study, Grand View Research has segmented the global mechanical ventilators market report on the basis of product and region:

  • Product Type Outlook (Revenue, USD Million, 2012 - 2022)

    • Critical Care Ventilators

      • Ventilators

      • Accessories

    • Neonatal Ventilators

      • Ventilators

      • Accessories

    • Transport & Portable Ventilators

      • Ventilators

      • Accessories

    • Others

  • Regional Outlook (Revenue, USD Million, 2012 - 2022)

    • North America

    • Europe

    • Asia Pacific

    • Latin America

    • Middle East and Africa (MEA)

Key questions answered by the report
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