U.S. Mechanical Ventilators Market Size, Share & Trends Report

U.S. Mechanical Ventilators Market Size, Share & Trends Analysis Report By Product {Ventilators (Critical Care, Transport & Portable), Accessories (Endotracheal Tubes, Masks)}, And Segment Forecasts, 2022 - 2027

  • Published Date: Oct, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-216-6
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 135

Report Overview

The U.S. mechanical ventilators market size was valued at USD 562.3 million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 3.0% from 2022 to 2027. An unusually high incidence of Covid-19 cases has led to a large gap between demand and supply of mechanical ventilators to an extent that automotive and other industrial equipment manufacturers have to step in to increase the supply of this life-saving device. Mechanical ventilators, the life support equipment are crucial in the management of chronic conditions, such as COPD, respiratory failure, and post-operative care that requires mechanical support for respiration, which is expected to boost the demand for mechanical ventilators due to COVID-19.

U.S. mechanical ventilators market size

However, a boost in ventilator production due to coronavirus wave is projected to decline by mid-year 2021 or 2022 due to the decreased infection rates, dependency of patients on life support equipment, and development of an effective COVID-19 vaccine and therapeutics.

The market is moving towards saturation as various manufacturers have speeded up their production capacities to meet the existing demand. However, as the prevalence of chronic diseases is on the rise, the demand for critical care units, like ventilators, is expected to be high in the coming years. Moreover, with technological advancements, the demand for low cost and advanced feature ventilators is anticipated to increase in the years to come.

Product Insights

The ventilators segment dominated the market with a share of 84.8% in 2019 owing to their increased demand in Intensive Care Units (ICUs). Critical care devices held the largest revenue share as compared to other ventilators due to their high cost and demand in ICUs.

The portable and transport ventilators are anticipated to witness the fastest growth over the forecast period owing to their efficiency and flexibility in different care delivery settings. These devices find a range of applications in healthcare settings from ambulatory centers to home healthcare. High demand for point-of-care treatment and high incidence rate of medical emergencies are the key factors contributing to this segment's growth.

An increase in the number of government initiatives aimed at providing safe, affordable, and quality healthcare is driving the adoption of neonatal ventilators. For example, the American Society of Anesthesiologist provides guidelines for the management of difficult airway and the use of different devices at various stages of respiratory diseases.

Moreover, the rise in neonatal deaths by birth asphyxia has led medical bodies to implement various initiatives to reduce its incidence. The WHO and the UNICEF, along with various neonatal resuscitation partners, have developed Every Newborn Action Plan (ENAP), which includes availability, scale-up, and use of various devices expected to reduce global mortality rates in neonates. In addition, these initiatives aim at providing high-quality and affordable products, which could be used in settings with low resources.

The accessories segment is expected to witness lucrative growth in the coming years due to its repetitive usage. The accessories market is further categorized into flow sensors, breathing circuit sets, endotracheal tubes, masks, and other accessories, such as expiratory valves, and humidifiers. The endotracheal tubes segment gained popularity owing to its crucial role in mechanical ventilation. These tubes are useful in maintaining and establishing airway patency and protecting the airway against aspiration.

Key Companies & Market Share Insights

The players are adopting strategies such as the expansion of production capacity, cost-effective product launch, M&A, and collaboration with the local players or assemblers in order to fight against the COVID-19 pandemic. For instance, market leaders including Medtronic, Vyaire Medical, and Getinge have already increased their production capacities since January 2020.

In addition, automobile manufacturers are proposing their assembly facilities to aid the production of ventilators. For instance, Medtronic and Tesla as well as Ventec Life Systems and General Motors are teaming up to boost ventilator production. Manufacturers are bracing up to multiply the production capacity to meet the rising demand.

Medtronic shared the design specifications of its Puritan Bennett 560 (PB560) portable ventilator designs with other manufacturers to respond to this public health emergency. In an attempt to provide a safer environment to healthcare workers, Medtronic is upgrading its existing PB980 (deployed in ICUs), which will allow control of ventilators remotely away from the isolation room. As of June 15, 2020, as a pilot project, the company upgraded PB980 ventilators at 14 hospitals out of a total of 940 hospitals with installed bases across the U.S. These types of initiatives undertaken by major players are projected to provide this market with lucrative opportunities. Some prominent players in the U.S. mechanical ventilators market include:

  • Getinge AB

  • Vyaire Medical Inc.

  • Medtronic

  • Drägerwerk AG & Co. KGaA

  • GE Healthcare

  • Koninklijke Philips N.V.

  • Smiths Group plc

  • Hamilton Medical

  • ResMed Inc.

  • Ventec Life Systems

U.S. Mechanical Ventilators Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 8.68 billion

Revenue forecast in 2027

USD 1.71 billion

Growth Rate

CAGR of 3.0% from 2022 to 2027

Base year for estimation

2019

Historical data

2016 - 2018                 

Forecast period

2020 (Q1, Q2, Q3, Q4), 2021, 2022 - 2027

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2027

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

Product

Key companies profiled

Getinge AB; Vyaire Medical Inc.; Medtronic; Drägerwerk AG & Co. KGaA; GE Healthcare; Koninklijke Philips N.V.; Smiths Group plc; Hamilton Medical; ResMed Inc.; Ventec Life Systems

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Segments Covered in the Report

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the U.S. mechanical ventilators market report on the basis of product:

  • Product Outlook (Revenue, USD Million, 2016 - 2027)

    • Ventilators

      • Critical Care Ventilators

      • Neonatal

      • Transport & Portable Ventilators

      • Others

    •  Accessories

      • Breathing Circuit Sets

      • Flow Sensors

      • Endotracheal Tubes

      • Masks

      • Others

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