The Global Mechanical Ventilators Market size is expected to reach $16.7 billion by 2030, rising at a market growth of 12.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,039.4 thousand units, experiencing a growth of 27.4% (2019-2022).
As per the World Health Organisation, one in six people will be 60 or older by 2030. The number of people 60 and older in the world will increase from 1 billion in 2020 to 1.4 billion in 2050. By 2050, there will be 2.1 billion people in the world who are 60 or older. Mechanical ventilators are essential for managing these age-related respiratory issues. Consequently, the Geriatric segment captured $2,172.9 million revenue in the market in 2022. It plays a vital role in enhancing the quality of life for older adults by providing advanced respiratory support tailored to their physiological nuances. The elderly population is susceptible to respiratory complications due to weakened respiratory muscles, decreased lung function, and comorbidities.
The major strategies followed by the market participants are Partnerships, Collaborations & Agreements as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June, 2023, Koninklijke Philips N.V. collaborated with Biotronik, aimed to widen the range of cardiovascular devices available for Philips SymphonySuite customers. Additionally, ZOLL Medical Corporation teamed up with Cogmedix, aimed to boost the production of ventilators during the COVID-19 pandemic.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include GE HealthCare Technologies, Inc., Koninklijke Philips N.V., Medtronic PLC, Dragerwerk AG & Co. KGaA, Getinge AB, Asahi Kasei Corporation (Zoll Medical Corporation), Hamilton Medical AG (Hamilton Bonaduz AG), Carl Reiner GmbH, Mindray Medical International Limited and Vyaire Medical, Inc.
As per the World Health Organisation, one in six people will be 60 or older by 2030. The number of people 60 and older in the world will increase from 1 billion in 2020 to 1.4 billion in 2050. By 2050, there will be 2.1 billion people in the world who are 60 or older. Mechanical ventilators are essential for managing these age-related respiratory issues. Consequently, the Geriatric segment captured $2,172.9 million revenue in the market in 2022. It plays a vital role in enhancing the quality of life for older adults by providing advanced respiratory support tailored to their physiological nuances. The elderly population is susceptible to respiratory complications due to weakened respiratory muscles, decreased lung function, and comorbidities.
The major strategies followed by the market participants are Partnerships, Collaborations & Agreements as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June, 2023, Koninklijke Philips N.V. collaborated with Biotronik, aimed to widen the range of cardiovascular devices available for Philips SymphonySuite customers. Additionally, ZOLL Medical Corporation teamed up with Cogmedix, aimed to boost the production of ventilators during the COVID-19 pandemic.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal matrix; Medtronic PLC is the forerunners in the Market. For Instance, In April, 2022, Medtronic PLC collaborated with GE Healthcare focused on the unique needs and demand for care at Ambulatory Surgery Centers (ASCs) and Office Based Labs (OBLs). Under this collaboration, customers can access extensive product portfolios, financial solutions, and exceptional service. Companies such as General Electric (GE) Co., Koninklijke Philips N.V., Dragerwerk AG & Co. KGaA are some of the key innovators in Market.COVID-19 Impact Analysis
The most immediate and visible impact of COVID-19 on the market was the unprecedented surge in demand for these life-saving devices. As the virus rapidly spread and overwhelmed healthcare systems in various countries, there was a significant shortage of ventilators to support critically ill patients. Hospitals and healthcare facilities faced an acute need to increase their ventilator capacity to manage the influx of COVID-19 patients. COVID-19 accelerated the adoption of remote monitoring and telehealth solutions, including integrating ventilators into telemedicine networks. These designs focused on essential functions to address the surge in demand, even if they lacked some of the advanced features of traditional ventilators. While these innovations provided short-term relief, they also raised concerns about the quality and safety of rapidly developed devices. Thus, the COVID-19 pandemic had a positive effect on the market.Market Growth Factors
Rising prevalence of respiratory diseases
Respiratory diseases such as COPD, asthma, and interstitial lung diseases are highly prevalent, particularly in aging populations. These conditions often require long-term or intermittent ventilatory support, creating a sustained demand for mechanical ventilators. Various chronic conditions, such as heart failure and neuromuscular disorders, can result in respiratory complications that require mechanical ventilation for optimal patient care. The co-occurrence of these conditions adds to the demand for ventilators. The prevalence of pediatric and neonatal respiratory disorders, such as respiratory distress syndrome and bronchiolitis, necessitates specialized neonatal and pediatric ventilators. The prevalence of respiratory diseases has driven the integration of mechanical ventilators with telemedicine networks and remote monitoring technologies. This permits healthcare providers to remotely monitor patients with respiratory conditions and adjust ventilator settings, improving access to care. The rising prevalence of respiratory diseases is a significant driver of growth in the market.Expansion of home ventilation programs
Home ventilation programs create a growing demand for mechanical ventilators in home settings. These ventilators are often more compact, user-friendly, and easy to operate, making them suitable for patients and caregivers. Patients with chronic respiratory conditions, such as COPD, neuromuscular disorders, and obesity hypoventilation syndrome, may require long-term ventilatory support. Home ventilation programs provide a solution for these patients, extending the use of ventilators. Home ventilators are designed with a focus on patient comfort. Telemedicine is frequently integrated into home ventilation programs, allowing patients to access specialist consultations remotely. This is especially important for patients in remote or underserved areas. The expansion of home ventilation programs has been a pivotal factor in driving the growth of the market.Market Restraining Factors
Supply chain disruptions hampering timely production and delivery
Supply chain disruptions can make it challenging for manufacturers to produce and deliver ventilators to healthcare facilities in a timely manner. Increased demand and supply chain disruptions can delay the provision of life-saving equipment to needy patients. Shortages can drive up the prices of mechanical ventilators, making them less affordable for healthcare facilities, especially in resource-constrained settings. Higher costs can strain the budgets of healthcare providers. In some cases, supply chain disruptions can lead to a rush to procure ventilators, potentially compromising the quality of devices purchased. Decisions about resource allocation can be emotionally taxing for clinicians. The disruption of the supply chain can result in logistical challenges, including delays in transporting ventilators to healthcare facilities and difficulties in storing and distributing them effectively. Thus, supply chain disruptions hampering timely production and delivery can slow down the growth of the market.Mode Outlook
Based on mode, the market is divided into invasive ventilation and non-invasive ventilation. In 2022, the invasive ventilation segment registered the maximum revenue share in the market. Invasive ventilation is utilized across various clinical applications, including ICUs, operating rooms, emergency departments, and post-operative recovery. This versatility ensures consistent demand for invasive ventilators. Invasive ventilators are equipped with advanced monitoring and alarm systems to ensure patient safety. This includes tracking parameters such as airway pressure, tidal volume, and oxygen levels. Invasive ventilation is crucial for patients who have suffered traumatic injuries, near-drowning incidents, or other life-threatening emergencies. These patients may require immediate intubation and mechanical ventilation.Component Outlook
On the basis of component, the market is bifurcated into devices and services. The services segment garnered a significant revenue share in the market in 2022. Healthcare facilities often require professional assistance for the proper installation and setup of mechanical ventilators. Technical support and help desk services provide timely assistance to healthcare providers when they encounter issues with ventilators. This support ensures quick problem resolution and minimizes disruptions in patient care. Some service providers offer remote monitoring and troubleshooting capabilities, allowing them to access ventilators and diagnose issues from a distance. This can decrease the number of on-site service contacts and expedite the resolution of issues.Product Type Outlook
By product type, the market is categorized into intensive care unit/critical care, transport/portable/ambulatory, and neonatal care. In 2022, the intensive care unit/critical care segment held the highest revenue share in the market. The intensive care unit/critical care segment utilizes mechanical ventilators for a wide range of conditions, including respiratory failure, trauma, infections, surgery recovery, and more. ICUs often manage patients with chronic respiratory conditions, such as COPD, who may require ventilatory support during acute exacerbations. This chronic care aspect contributes to sustained demand in the intensive care unit /critical care segment.Age Group Outlook
Based on age group, the market is classified into adult, geriatric, and pediatric & neonatal. The geriatric segment acquired a substantial revenue share in the market in 2022. Elderly individuals are more prone to age-related respiratory conditions, such as COPD, pneumonia, and obstructive sleep apnea. Geriatric patients often have multiple comorbidities, which can complicate respiratory conditions and lead to a greater need for mechanical ventilation. Common comorbidities include heart disease, diabetes, and neurological disorders. Many elderly individuals require surgical interventions for various medical conditions, such as heart surgery or hip replacement. Post-surgical mechanical ventilation may be necessary for geriatric patients during their recovery, contributing to the demand for ventilators.End User Outlook
By end user, the market is fragmented into hospital & clinic, ambulatory surgical center, home care, and others. In 2022, the hospital & clinic segment led the market by generating highest revenue share. Hospitals & clinics segment are central in managing patients with chronic respiratory conditions. Mechanical ventilators are essential for patients with neuromuscular disorders or severe asthma. Hospitals & clinics often use transport ventilators to safely transfer patients between units, departments, or healthcare facilities while maintaining proper ventilation. Hospitals often provide home ventilation services, extending the use of mechanical ventilators into patients' homes. This includes the provision of portable ventilators and training for patients and their caregivers.Regional Outlook
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating the highest revenue share. North America, particularly the United States and Canada, has a rapidly aging population. The elderly are more susceptible to respiratory illnesses and may require mechanical ventilation for various medical conditions. North America has a high prevalence of chronic respiratory diseases such as COPD and asthma. Mechanical ventilators are essential for managing these conditions, especially during exacerbations.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include GE HealthCare Technologies, Inc., Koninklijke Philips N.V., Medtronic PLC, Dragerwerk AG & Co. KGaA, Getinge AB, Asahi Kasei Corporation (Zoll Medical Corporation), Hamilton Medical AG (Hamilton Bonaduz AG), Carl Reiner GmbH, Mindray Medical International Limited and Vyaire Medical, Inc.
Strategies deployed in the Market
Partnerships, Collaborations, and Agreements:
- Oct-2023: Mindray Medical International Limited announced a partnership with Edwards Lifesciences, a global leader in medical innovations. This collaboration made Mindray's BeneVision N-Series the initial patient monitoring system to integrate with Edwards FloTrac sensor for hemodynamic monitoring in the North American market, after their joint launch in China in 2022.
- Sep-2023: Medtronic Canada ULC, a subsidiary of Medtronic PLC, partnered with FluidAI Medical, a notable AI startup. Their collaboration aimed to revolutionize Canadian healthcare through the Continuous Connected Patient Care (CCPC) project under Canada's DIGITAL Global Innovation Cluster for digital technologies.
- Jul-2023: Mindray Medical International Limited and SingHealth signed a memorandum of understanding aimed at delivering high-quality, accessible patient care. The partnership focused on medical training, academic platform development, and facilitating international exchanges on clinical topics. This collaboration aims to promote knowledge sharing and advance global healthcare.
- Jun-2023: Koninklijke Philips N.V. collaborated with Biotronik, a multi-national cardiovascular biomedical research and technology company. This collaboration aimed to widen the range of cardiovascular devices available for Philips SymphonySuite customers.
- May-2023: Mindray Medical International Limited signed a strategic agreement with Vithas, a GMP-certified chemical analysis contract lab, allowing Vithas to integrate innovative patient monitoring technology in its 20 hospitals. The partnership aimed to enhance patient safety in critical areas, including the ICU, post-anesthesia recovery, operating rooms, and emergencies.
- Apr-2022: Medtronic PLC collaborated with GE Healthcare focused on the unique needs and demand for care at Ambulatory Surgery Centers (ASCs) and Office Based Labs (OBLs). Under this new collaboration, customers can access extensive product portfolios, financial solutions, and exceptional service.
- Mar-2022: Asahi Kasei Corporation has teamed up with Genomatica, Inc., a company specializing in biological manufacturing processes for chemicals. Their collaboration is focused on bringing renewable nylon 6,61, created from Genomatica's bio-based HMD building block, to market. This partnership also aligns with Asahi Kasei's goal to be a pioneer in offering eco-friendly nylon 6,6 for the automotive and electronics sectors using plant-based HMD, thereby advancing their sustainability objectives.
- Jan-2021: Dräger Distribution extended its agreement with Breas Medical. Through this agreement, the companies aimed to supply LTACs and SNFspproch with comprehensive ventilation solutions, cost-effective, designed to improve patient health.
- Nov-2020: ZOLL Medical Corporation, a medical devices manufacturer and a member of Asahi Kasei Corporation, teamed up with Cogmedix, provides FDA and ISO 13485 compliant product development and commercialization services. The companies aimed to boost the production of ventilators during the COVID-19 pandemic.
- Jun-2020: Medtronic PLC formed a partnership with Foxconn, a multinational electronics contract manufacturer. The companies aimed to enlarge ventilator supply for more patients and hospitals than any other company can do individually.
- May-2020: Vyaire Medical collaborated with Spirit AeroSystems, the world's largest manufacturers of aerostructures. Together, the companies aimed to construct critical care ventilators at a transformed space in Wichita, Kan. Moreover, this partnership would permit Vyaire to ramp up rapidly in the production of critical care ventilators.
- Apr-2020: GE Healthcare teamed up with Microsoft, an American multinational technology corporation. Together, the companies aimed to launch a new software solution, Mural Virtual Care Solution. This software would give a wide view of the crowd around their ventilated patient and the risk of deterioration.
- Apr-2020: Philips formed a partnership with Flex as well as Jabil. The partnership aimed to fast-track the production of ventilators and boost overall supply.
- Apr-2020: Royal Philips collaborated with the U.S. Government. The entities aimed to enlarge the production of hospital ventilators, manufacturing in the U.S to save lives all around.
- Apr-2020: Vyaire Medical came into a contract of $407 million with Health and Human Services. The companies aimed to construct 22,000 ventilators in the coronavirus pandemic. The entities aimed to increase the production and ramp up the delivery of essential medical equipment required.
- Apr-2020: Vyaire Medical received a contract of USD $50 million with the Brazilian Ministry of Health. The companies aimed to construct 4,300 iX5 ventilators during the pandemic. The entities aimed to ramp up manufacturing capacity across the globe to ensure a sufficient supply of ventilators and associated consumables at this crucial time.
- Mar-2020: GE Healthcare joined hands with Ford Motor Company, an American multinational automobile manufacturer. The companies focused on growing up the production of ventilators and medical equipment to cure COVID-19 respiratory illness patients.
- Mar-2020: Dragerwerk formed a partnership with Babock, international aerospace, defense, and Security Company. This partnership aimed to help in the development of ventilators for the ITV News and NHS.
Product Launches and Product Expansions:
- Jan-2023: Getinge AB launched the Servo-C mechanical ventilator, offering lung-protective tools for pediatric and adult patients in selected markets. With modular components for smart fleet management, the launch aimed to enhance global healthcare accessibility and affordability. Features included CO2 monitoring and a servo compass for visualizing volume and pressure targets.
- Mar-2022: ZOLL Medical Corporation, a subsidiary of Asahi Kasei, introduced the ZOLL Arrhythmia Management System (AMS). The system incorporated biometric data with traditional MCT devices, enhancing ECG information. A recent study affirmed that ZOLL AMS assists physicians in creating more informed patient treatment plans.
- Oct-2021: Drager introduced the new Savina 300 NIV. This product aimed for consistent and secure non-invasive mechanical ventilation in both acute and chronic care facilities.
- Jul-2021: Mindray Medical International Limited launched its new turbine-based ventilator, the SV300 Pro. The product is easy to configure, simple to operate, and flexible in use. Moreover, it provides a comfortable and overall cure for all types of patients with different ventilation modes.
- Jun-2020: Royal Philips introduced its mobile Intensive Care Units for India. The product would support the critical-care requirements of patients. Moreover, each pre-fabricated ICU has a space of nine beds which will be produced by Philips in India.
Acquisitions and Mergers:
- Apr-2021: Dragerwerk took over most of the share from STIMIT, a MedTech company that reinvents intensive care by empowering patients to breathe. This technology aimed to increase the company's expertise in the field of lung-protective ventilation.
Geographical Expansions:
- Jan-2022: Getinge expanded its geographical footprints in Wayne, New Jersey by establishing a new Experience Center. The company aimed to utilize healthcare leaders with immense experience and their technologies. In addition to displaying how solutions enlarge efficiencies and amplify the patient experience.
- May-2020: Hamilton Medical expanded its global reach in critical care ventilators near the U.S. offices in Reno, Nevada. Through this expansion, the company aimed to supply new production facilities and more life-saving machines to the U.S.
Trials & Approvals:
- Jul-2023: Getinge AB obtained US FDA clearance for Servo-air Lite, a wall gas-independent non-invasive mechanical ventilator. This expanded the company's market reach in the US, enabling it to target the non-invasive hospital segment with its ventilation offering.
Scope of the Study
Market Segments Covered in the Report:
By Mode (Volume, Thousand Unit, USD Billion, 2019-30)- Invasive Ventilation
- Non-invasive Ventilation
- Devices
- Services
- Intensive Care Unit/Critical Care
- Transport/Portable/Ambulatory
- Neonatal Care
- Adult
- Geriatric
- Pediatric & Neonatal
- Hospital & Clinic
- Ambulatory Surgical Center
- Home Care
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- GE HealthCare Technologies, Inc.
- Koninklijke Philips N.V.
- Medtronic PLC
- Dragerwerk AG & Co. KGaA
- Getinge AB
- Asahi Kasei Corporation (Zoll Medical Corporation)
- Hamilton Medical AG (Hamilton Bonaduz AG)
- Carl Reiner GmbH
- Mindray Medical International Limited
- Vyaire Medical, Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Mechanical Ventilator Market by Mode
Chapter 6. Global Mechanical Ventilator Market by Component
Chapter 7. Global Mechanical Ventilator Market by Product Type
Chapter 8. Global Mechanical Ventilator Market by Age Group
Chapter 9. Global Mechanical Ventilator Market by End User
Chapter 10. Global Mechanical Ventilator Market by Region
Chapter 11. Company Profiles
Companies Mentioned
- GE HealthCare Technologies, Inc.
- Koninklijke Philips N.V.
- Medtronic PLC
- Dragerwerk AG & Co. KGaA
- Getinge AB
- Asahi Kasei Corporation (Zoll Medical Corporation)
- Hamilton Medical AG (Hamilton Bonaduz AG)
- Carl Reiner GmbH
- Mindray Medical International Limited
- Vyaire Medical, Inc.
Methodology
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