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, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the mechanical ventilator market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for mechanical ventilator market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of mechanical ventilator market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Mechanical Ventilator Market Categorization:

The mechanical ventilator market was categorized into four segments, namely product (Critical Care, Neonatal, Transport & Portable), ventilation mode (Invasive, Non-invasive), end-use (Hospitals, Home Healthcare), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The mechanical ventilator market was segmented into product, ventilation mode, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The mechanical ventilator market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into thirty-one countries, namely, the U.S., Canada, the UK, Germany, France, Italy, Spain, Russia, Australia, Switzerland, Poland, Czechoslovakia, Denmark, Sweden, Norway, India, China, Japan, Australia, South Korea, Thailand, New Zealand, Singapore, Brazil, Mexico, Argentina, Colombia, Saudi Arabia, UAE, South Africa, Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Mechanical ventilator market companies & financials:

The mechanical ventilator market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Getinge AB - Getinge AB is a company that specializes in the production and distribution of biopharmaceutical and biomedical products. The company is divided into three segments: acute care therapies, surgical workflows, and life science. Within the acute care therapies segment, Getinge offers ventilators. With a global presence, the company sells its products in 139 countries and operates in over 40 countries. Its production facilities are strategically located in China, France, Germany, Turkey, Sweden, Poland, and the U.S. Getinge serves many customers, including life science institutions and hospitals. One of its notable product brands is Maquet, which operates under the umbrella of Getinge.

• Becton, Dickinson, and Company (BD) - BD, also known as Becton, Dickinson, and Company, completed the acquisition of Carefusion Corporation in 2015. BD is a prominent medical technology company specializing in manufacturing and selling diagnostic products, medical devices, laboratory equipment, and medical supplies. Its customer base includes physicians, healthcare institutions, life science researchers, clinical laboratories, and the pharmaceutical industry. The company operates through three segments: Medical, LifeSciences, and Interventional. BD distributes its products through various channels and directly to end users with the help of sales representatives. With a global presence in over 190 countries, BD has successfully launched 25 significant products in 2019. In 2016, BD divested its majority stakes in the respiratory business and formed a joint venture called Vyaire Medical with Apax Funds. However, as of March 2020, BD has announced that it is no longer involved in the ventilator business.

• Vyaire Medical Inc. - Vyaire Medical stands as a prominent player in the respiratory industry, renowned for its exceptional products and services. With a focus on surgical/anesthesia consumables and respiratory products, the company has established itself as a leading manufacturer and distributor. Vyaire Medical operates across four key sectors: airway management, ventilation, respiratory diagnostics, and operative care, ensuring comprehensive solutions for respiratory needs.

• Medtronic - Medtronic plc is a global provider of medical services, technologies, and solutions. With a diverse range of offerings, the company operates through four distinct segments: Diabetes Group, Restorative Therapies Group, Minimally Invasive Therapies Group, and Cardiac and Vascular Group. Medtronic serves many customers, including hospitals, distributors, clinics, and other institutions. Within its portfolio, the minimally invasive therapies segment focuses on ventilation products. With a robust global presence, Medtronic operates 15 manufacturing facilities worldwide. In addition, the company maintains sales and administrative offices in four locations within the United States and an extensive network of 161 locations spanning over 66 countries worldwide.

• Drägerwerk AG & Co. KGaA - Drägerwerk AG & Co. KGaA, commonly known as Dräger, is a renowned manufacturer specializing in safety technology and medical products. With a global reach, the company operates in approximately 190 countries worldwide. Offering a diverse product portfolio of 33 items, Dräger continues to innovate and expand its offerings. In 2018 alone, the company obtained an impressive 217 new patents. Dräger's commitment to excellence is reflected in its state-of-the-art development and manufacturing facilities in Germany, the US, Chile, the UK, China, Sweden, Czech Republic, South Africa, Norway, and India. Additionally, Dräger maintains sales subsidiaries in approximately 50 countries, further solidifying its international presence.

• GE Healthcare - GE Healthcare is a leading provider of medical technologies and services that aim to enhance patient care. The company focuses on various areas such as medical diagnostics, drug discovery, medical imaging, information technologies, patient monitoring systems, performance solution services, and biopharmaceutical manufacturing technologies. With a global presence, GE Healthcare operates in over 140 countries, serving customers across three segments: healthcare systems, life sciences, and digital healthcare.

• Koninklijke Philips N.V. - Philips, a renowned company known as Koninklijke Philips N.V., specializes in producing diagnostic and therapeutic devices. Its operations are divided into three reporting business segments: diagnosis & treatment, personal health, and connected care. Ventilators are among the products offered within the connected care segment. With a global presence, Philips operates approximately 35 manufacturing sites worldwide. The company adopts a diverse sales approach, utilizing online portals, direct sales, and third-party distributors to reach its customers.

• Smiths Group plc - Smiths Group plc is the parent company of Smith's Medical, a renowned manufacturer of medical devices and consumables. With a global reach, Smith's Medical operates in approximately 120 countries and has a strong presence in around 30 countries. The company is divided into four segments: infusion systems, vascular access, vital care, and specialty products. Within the infusion systems segment, Smith's Medical offers a range of medication delivery products designed to address conditions like cancer and Parkinson's disease. The vascular access segment focuses on venous access methods, including catheters and needles. Lastly, the vital care and specialty products segment encompasses a variety of chronic disease management products, such as general anesthesia and respiratory & bronchial hygiene solutions.

• Hamilton Medical - Hamilton Medical (Hamilton) operates as a worldwide provider of ventilation solutions. With a presence in more than 100 countries, the company distributes its products through a network of subsidiaries and distribution partners. Hamilton Medical offers a range of medical consumables, accessories, and ventilation devices. Their ventilation portfolio includes an automatic cuff pressure controller and a humidifier designed for use with mechanical ventilators. These products are well-suited for critical care transport, neonatal intensive care, MRI suites, long-term care, and adult and pediatric intensive care settings.

• Cardinal Health - Cardinal Health, a multinational corporation listed on the Fortune 500, operates in the healthcare industry. The company specializes in two main categories: pharmaceuticals and medical products. Moreover, Cardinal Health provides cost-effective solutions to improve supply chain efficiency. With a global presence, the company caters to a diverse customer base, including hospitals, pharmacies, healthcare systems, ambulatory surgery centers, physician offices, clinical laboratories, and patients receiving care at home.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Mechanical Ventilator Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Mechanical Ventilator Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.