Mechanical Ventilators Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

The mechanical ventilators market is expected to record a CAGR of 7.5% during the forecast period.

The impact of the COVID-19 outbreak on the mechanical ventilators market is positive because it increased the use of mechanical ventilators in the management of the disease. For instance, according to a research study by Yang Wang et al., published in the American Journal of Respiratory and Critical Care Medicine in February 2020, 23 (65.7%) patients received invasive ventilation in China. A total of 134 (40.6%) patients were treated with mechanical ventilation (either non-invasive or invasive). Among them, 34 received treatment with non-invasive ventilation, whereas invasive ventilation was given to 100 patients.

Furthermore, as per the above source, the median duration from admission to invasive ventilation was five days, and the median duration of invasive ventilation was four days, indicating a high demand for mechanical ventilators during the COVID-19 outbreak in 2020.

The increased geriatric population and higher incidences of chronic conditions, such as chronic obstructive pulmonary disease (COPD), are driving the market’s growth. Asthma is one of the largest contributors to this figure, affecting children, adults, and the elderly. There is a high prevalence of severe asthma in the emerging markets of Middle-East and Africa and Latin America compared to the mid-range prevalence in North America, Europe, and Asia-Pacific.

Recently, the COVID-19 outbreak increased the demand for respiratory devices like ventilators. For instance, in March 2020, Zoll Medical Corporation executed a plan to increase manufacturing capacity to 10,000 ventilators per month. This production volume expansion helped treat patients suffering from COVID-19, and it may ultimately lead to market expansion.

In March 2020, Koninklijke Philips NV established its production site in the United States to meet the increasing demand for ventilators during the COVID-19 pandemic.

In August 2019, Smiths Medical, a medical device manufacturer, partnered with Medline Industries to distribute its Portex devices. The partnership may focus on the non-acute home care channels and expand their respiratory division market globally. Thus, such factors are expected to drive the market over the forecast period.

Key Market Trends

Intensive Care Ventilators Segment is Expected to Hold Significant Market Share Over the Forecast Period

Intensive care ventilators deliver ventilatory support to patients who cannot breathe on their own or require assistance to maintain adequate ventilation. Neonates and adults can be ventilated using intensive care ventilators, and they can vary in condition, from very critical, unstable patients to relatively stable postoperative patients. The intensive care ventilators segment is expected to account for the major market share due to the technological advancements and increasing focus of manufacturers on developing them.

The demand for mechanical ventilators increased over the past few months due to the COVID-19 outbreak, increasing the number of ICU admissions worldwide. For instance, according to the World Health Organization (WHO), as of May 2021, around 154,815,600 cases of COVID-19 were confirmed, including 3,236,104 deaths. Globally, the exponential rise in COVID-19 cases requiring long and short-term respiratory support may positively drive the market’s growth.

In January 2021, Inovytec engaged in a deal to supply 1,500 progressive portable ventilators to Italy, Brazil, and Israel. It entered an agreement with a California-based distributor to supply portable ventilators. The portable ventilators may assist patients with respiratory illnesses during the COVID-19 pandemic and beyond.

Additionally, notable developments in the intensive care segment contribute to its prominent share in the market. Products such as Spontaneous Breathing Trial (SBT) are used to assess the patient's ability to breathe while receiving minimal or no ventilator support. Auto TRAK improves the patient experience. Such advancements in products contribute to the segment’s higher revenue.

The market players adopt various strategies, such as product launches, collaborations, and acquisitions, to increase their market share. For instance, in December 2020, CorVent Medical entered an arrangement with Siemens Healthineers for the US distribution of the RESPOND-19 Ventilator to their network of healthcare systems, hospitals, and government customers. The RESPOND-19 Ventilator is part of Siemens Healthineers' contribution of cutting-edge technology by enhancing reliable, critical care respiratory care that increases ventilation capacity during a surge in patient capacities, such as during a flu season or a pandemic.

Portable ventilators are widely used in hospitals due to their convenience and faster and continuous care to patients even before they are on the hospital premises. The rising number of hospitals is also expected to fuel the segment’s growth, as they increase the demand for products due to their efficiency and variety of applications. Thus, such factors are expected to drive the market over the forecast period.

North America Dominates the Market, and this Trend is Expected to Continue During the Forecast Period

Some of the factors driving the market include an increased prevalence of chronic obstructive pulmonary disease (COPD) and respiratory disorders, a well-established healthcare infrastructure, and the presence of key market players in the region.

As per the Society of Critical Care Medicine, the stock of hospital ventilators in the United States was around 160,000 units in Q1 2020. Moreover, there were over 6.09 million active COVID-19 cases as of August 2020, and an estimated 960,000 Americans needed mechanical help to breathe during the pandemic, as per the American Association for Respiratory Care. Thus, in 2020, mechanical ventilators experienced a sudden spike in demand in the United States, boosting the market’s growth.

According to a report by the Centers for Disease Control and Prevention (CDC), in March 2020, there were around 53% of ICU admissions out of the total hospitalizations due to COVID-19.

In addition, according to a research study by Silvio A. Ñamendys-Silva et al., published in Critical Care February 2021, in Mexico, about 15.3% of hospitalized patients required invasive mechanical ventilation (IMV), and 70.8% of patients received invasive mechanical ventilation (IMV) outside the ICU.

As per the American Lung Association 2021, chronic obstructive pulmonary disease (COPD) is the third leading cause of death by disease in the United States. More than 16.4 million people have been diagnosed with chronic obstructive pulmonary disease (COPD). Chronic obstructive pulmonary disease (COPD) causes serious long-term disability and early deaths, and it demands a higher requirement of ventilators, thus generating revenue for the market.

Asthma is a major public health concern in Canada. As a lifelong respiratory illness, asthma affects work productivity, quality of life, mental health, and psychological wellbeing of the Canadian population. In Canada, over 3.8 million individuals had asthma in 2019, as per the 2019 annual asthma survey report. Due to the high incidence of asthma in Canada, the demand for mechanical ventilators is expected to rise in the coming years.

Additionally, increasing intensive care admissions and the introduction of ventilation modes such as acute non-invasive ventilation, which avoids lung injury, are likely to drive the growth of the mechanical ventilator market. Hence, such factors are expected to boost the market in the region over the forecast period.

Competitive Landscape

The mechanical ventilation market is moderately competitive. Some of the key players are manufacturing and launching new products, while others are distributing the ventilators, which is fueling the market’s growth. Key market players include Getinge AB, Medtronic PLC, Smiths Medical, Koninklijke Philips NV, and ResMed Inc.

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