The global ventilators market was valued at USD 1.8 billion in 2021 and it is anticipated to grow up to USD 2.9 billion by 2031, at a CAGR of 5.0% during the forecast period.
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The ventilator is basically an equipment which is used in intensive care units to help patients breathe when they are unable to do so on their own. Ventilators can be employed on the system either temporarily or permanently (as in long-term care) and are used across utilized in hospital settings, rehabilitation centers and at home. Mechanical ventilation, an endotracheal tube, and a nasogastric drain are the components of a ventilator. Ventilation devices remove carbon dioxide from the patient’s body by supplying oxygen. It is used to keep people alive, but it is not used to treat illnesses or medical disorders. The mechanical ventilation system is used for patients with chronic diseases such as chronic obstructive pulmonary disease (COPD), asthma, brain traumas, and strokes.
Market Trends and Drivers
Rising prevalence of chronic obstructive pulmonary disease (COPD) and other respiratory disorders such as sleep apnea, acute lung injury, and hypoxemia are the most significant factors driving this market’s growth. The increasing number of preterm births and rapid growth in the geriatric population are also expected to accelerate the market’s overall growth. Moreover, the high prevalence of tobacco smoking which leads to respiratory disease will bolster the growth of the market.
Major Players in the Global Ventilators Market
The key players in the market are Koninklijke Philips N.V. (Netherlands), Getinge AB (Sweden), ResMed (U.S.), Medtronic (Ireland), Fisher & Paykel Healthcare Limited (New Zealand), Avasarala Technologies Limited (India), Shenzhen Mindray Bio-Medical Electronics Co., Ltd, (China), Drägerwerk AG & CO. KGAA (Germany), Nihon Kohden Corporation (Japan), Asahi Kasei Corporation (Japan), Hamilton Medical (Switzerland), among others.
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COVID-19 Impact
A worldwide emergency has been caused by the COVID-19 pandemic. One of the major equipment used to treat COVID-19 is a medical ventilator. The demand for medical ventilators has risen dramatically, pushing manufacturers to increase output by 30–50%. In 2019, it was projected that 77,000 new ventilators would be sufficient to meet the global demand. In April 2020, around 30,000 extra ventilators were required in New York City alone. Various large firms were competing to manufacture and deliver as many ventilators as possible around the world.
Global Ventilators Market Segmentation
By Product
- Intensive Care Ventilators
- Portable Ventilators
- Neonatal Ventilators
By Mobility
- Non-Invasive Ventilation
- Invasive Ventilation
By Type
- Adult Ventilators
- Neonatal Ventilators
- Paediatric Ventilators
By Mode
- Combined-Mode Ventilation
- Volume-Mode Ventilation
- Pressure-Mode Ventilation
- Others
By End-use
- Hospitals
- Ambulatory Surgery Centres
- Specialty Clinics
- Home Healthcare
- Others
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