Mechanical Ventilator Market Size, Share & Trends Analysis Report By Product (Critical Care, Neonatal, Transport & Portable), By Ventilation Mode (Invasive, Non-invasive), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global mechanical ventilator market size was valued at USD 2.90 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030. The unprecedented dawn of COVID-19 boosted the demand for mechanical ventilators by leaps and bounds in 2020. The intuitive measures adopted by the government and the manufacturers to curb the initial unpreparedness for the pandemic resulted in the inflow of mechanical ventilators at the expedited rate.

However, owing to the development of the Covid-19 vaccine in 2021, coupled with effective therapeutic options to treat mild to moderate symptoms of the infection, the growth has been stabilized. In addition, there is an expected decrease in the infection rate of coronavirus due to high awareness amongst the population and adherence to physical distancing measures. To restrict the spread of the pandemic, governments in various countries have implemented strict measures including social distancing.

In a welcome move, the U.S. FDA temporarily waived its enforcement and inspection requirements, which would be helpful for cross-industry manufacturers to fabricate much-needed components for ventilators and other critical care equipment. Supportive and timely regulatory policies by the government are anticipated to provide a growth platform for this market in the coming financial year, thereby affecting the growth rate over the forecast years.

A rise in the incidence of Chronic Obstructive Pulmonary Disease (COPD), rapid growth in the elderly population, and technological innovation are major factors likely to drive the market over the forecast period. The evolution of patient-friendly, cost-effective, and portable devices can further encourage their usage. For instance, in April 2020, InnAccel Technologies announced the introduction of a non-invasive ventilation system intended for use in ICU with COVID-19 patients.

COPD and asthma are the most prevalent respiratory conditions across the world. According to the WHO, COPD is the third leading cause of death globally, causing 3.23 million deaths in 2019. In November 2020, Philips introduced Ventilator BiPAP A40 Expiratory Flow Limitation (EFL), a noninvasive ventilator for COPD patients. With this, clinicians can detect EFL in hypercapnic COPD patients at the point of care, ensuring the delivery of optimal homecare therapy. Increased demand for home healthcare is anticipated to have a favorable impact on the demand for home care ventilators in the coming years.

The COVID-19 pandemic has been advantageous for the market and it rendered a positive impact on the market growth. The requirement for ventilation facilities during the COVID-19 outbreak quickly improved day-to-day operational capabilities. The American Association for Respiratory Care joined forces with the different organizations to train respiratory therapists on operating ventilators during COVID-19. This has further stimulated the market players to increase their production capacities to meet the augmented demand.

Many manufacturers were flooded with orders during the pandemic. In March 2020, Philips announced that it ramped up the production of critical care products and solutions to support the diagnosis and treatment of patients with COVID-19. The company also increased the production of patient vital signs monitors and portable ventilators and consumables for invasive and noninvasive ventilation to treat a wide range of breathing conditions.

Product Insights

Critical care ventilators dominated the market with a share of over 38.0% in 2022 due to the high adoption and installation rate in hospitals. Critical care ventilators are majorly used in hospital intensive care units. A positive impact on revenue growth is expected, with an increase in the number of hospitals and healthcare facilities. The growing prevalence of target indications is expected to boost hospital admission rates as affected patients might need frequent ventilation. Transport and portable mechanical ventilators are expected to witness the fastest growth during the forecast period owing to their efficiency in a variety of applications in different care delivery settings.

The evolution of patient-friendly, cost-effective, and portable devices further encourages their usage. The application of transport and portable ventilators ranges from home care to ambulatory centers. Growth in the market for point-of-care treatment and an increase in the cases of medical emergencies are vital factors behind the segment growth. Hospitals are encouraging the usage of portable ventilators to provide convenient and faster care to patients from an ambulance to the hospital bed. Portable ventilators prompt the patients to adopt home care, hence increasing its popularity.

Ventilation Mode Insights

The non-invasive ventilation mode emerged as the largest segment and accounted for over 57.6% share in 2022. The segment is also likely to witness the fastest growth during the forecast period. The usage of non-invasive mechanical ventilation in a wide range of applications and its ability to offer precise and higher concentrations of oxygen are key factors contributing to the segment growth. The non-invasive ventilation can be delivered using advanced intensive care ventilators that can offer various respiratory support modes.

Extensive R&D investments in the healthcare sector and growing per capita income further boost the overall market growth. Consistent increase in the number of patients suffering from respiratory diseases is the main factor for the growth of the CPAP devices market. In the non-invasive ventilation mode segment, the CPAP accounted for over 35.0% share of the overall revenue. These devices are used in emergency settings and hospitals as an oxygen source for patients suffering from respiratory issues. CPAP devices can also support oxygen provision among patients undergoing heart treatment.

End-use Insights

The hospitals segment dominated in 2021 with a revenue share of over 45.0%. This is owing to growing hospitals’ expenditure that allows the acceptance of technologically advanced ventilators. In addition, the availability of skilled health care providers to operate these ventilators, the increased emphasis on better health outcomes, and improved productivity of hospitals are contributing to the segment growth. Furthermore, constant monitoring offered by hospital staff is likely to increase the preference of patients for these healthcare facilities.

The home healthcare segment is expected to witness the fastest growth during the forecast period. An increasing number of government initiatives aimed at curbing healthcare expenditures by promoting home healthcare support the market growth. Value-based healthcare is another major factor contributing to market growth. In the U.S., Medicare reimbursements are highly favorable in providing value-based healthcare for improved patient outcomes at a low cost. Thus, in-home care has become a modality of choice for treatment and is expected to witness lucrative growth over the forecast period.

Regional Insights

North America dominated the market with a revenue share of over 55.0% in 2022. A soaring number of critically ill COVID-19 patients in the U.S. (4,813,647 as of 3 August 2020) and the presence of leading manufacturers implementing production boosts are key factors driving the regional market. Additionally, the U.S. automotive giants like Tesla, Ford, and GM have switched their assembly lines for medical supplies such as masks, mechanical ventilators, and other medical devices to help the government with the shortage problems of these devices. This, in turn, resulted in the significant growth of the regional market.

In the Asia Pacific, the market is anticipated to witness significant growth over the forecast period owing to the increasing cases of COVID 19, chronic respiratory diseases, rising healthcare expenditure, various collaborations, new product launches, and strategic agreements implemented by local players during the pandemic. For instance, in January 2021, CSIR-NAL developed a non-invasive airway pressure ventilator, Swasth Vayu.

Similarly, in August 2020, Spicejet introduced Spiceoxy, a portable, non-invasive ventilation device. The introduction of such cost-effective products is expected to fuel their adoption in the coming years. Additionally, the growth in this region is attributed to the development of infrastructure and healthcare policies promoting better care provided to individuals. The growing trend of lifestyle habits such as smoking and genetic allergy developments expediting the number of cases of respiratory disorders further promotes market growth.

Key Companies & Market Share Insights

Manufacturers are bracing up to multiply the production capacity to meet the globally rising demand to overcome the COVID-19 disease outbreak. The German manufacturer Drägerwerk AG & Co. received an order of around 10,000 ventilators from the government of the U.K., which is equal to its annual production capacity. Hamilton Medical has accelerated the normal production of some 15,000 mechanical ventilators annually by 30.0% - 40.0% and is now producing about 80 mechanical ventilators daily. This company shipped around 400 ventilators to Italy in March 2020.

Siare Engineering International Group s.r.l., an Italy-based ventilator manufacturer, is working with 25 army technicians to ramp up its production to meet the unprecedented demand for mechanical ventilators in the country. Moreover, automobile manufacturers are offering their assembly lines to aid in the production of ventilators. For example, Tesla Medtronic, General Motors, and Ventec Life Systems are teaming up for the production of mechanical ventilators.

The market is moving towards saturation as various manufacturers have sped up their production capacities to meet the existing demand and there will be ample availability of ventilators post covid-19 situation. However, as the prevalence of chronic diseases is expected to be on the rise, the demand for critical care units like ventilators will be always there in the coming years. Moreover, with technological advancements, the demand for low-cost and advanced feature ventilators is anticipated to increase over the forecast period.

For instance, Philips’s Ventilator BiPAP A40 EFL permits health care specialists to automatically screen and detect expiratory flow limitations to deliver optimal homecare treatment. The product was launched in November 2020. Thereby, the launch of new products with advanced technology is anticipated to boost the market growth during the forecast period. Some prominent players in the global mechanical ventilator market include:

• Medtronic

• Abbott

• Boston Scientific Corporation

• BIOTRONIK SE & Co. KG

• MicroPort Scientific Corporation

• Koninklijke Philips N.V.

• Stryker

• ZOLL Medical Corporation (Asahi Kasei)

• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

• Nihon Kohden Corporation

• Schiller AG

• ResMed

• Fisher & Paykel Healthcare Limited

• Drägerwerk AG & CO. KGAA

• Getinge AB

• Asahi Kasei Corporation

• Air Liquide

• Vyaire Medical, Inc.

• GE Healthcare

• Hamilton Medical

• Smiths Group plc

• Allied Healthcare Products, Inc.

• aXcent Medical GmbH

• Metran Co., Ltd

• MAGNAMED

• Avasarala Technologies Ltd

• Airon Corporation

• TRITON Electronic Systems Ltd.

• Bio-Med Devices, Inc.

• Hill-Rom Holdings, Inc.

• HEYER Medical AG

• Leistung Engineering Pvt. Ltd.

Mechanical Ventilator Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the the global mechanical ventilator market report on the basis of product, ventilation mode, end use, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Critical Care

    • Ventilators

    • Accessories  

  • Neonatal

    • Ventilators

    • Accessories              

  • Transport & Portable

    • Ventilators

    • Accessories  

  • Others 

• Ventilation Mode Outlook (Revenue, USD Million, 2017 - 2030)

  • Invasive

  • Non-invasive

    • CPAP

    • BiPAP

    • Others

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Hospitals

  • Home Healthcare

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Austria

    • Switzerland

    • Poland

    • Czechoslovakia

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • India

    • China

    • Japan

    • Thailand

    • South Korea

    • Australia

    • Thailand

    • New Zealand

    • Singapore

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait