The North American Mechanical Ventilator Industry is poised to surpass the US$4 billion mark by 2033. Notably, the region experienced a remarkable surge in the market during the pandemic. To address the anticipated surge in mechanical ventilator demand in the USA, the CDC Strategic National Stockpile (SNS) has strategically stocked and maintained a variety of ventilators that can be readily deployed when needed through appropriate channels. The SNS inventory includes three specific ventilator types: the LP10 (Covidien), the LTV1200 (CareFusion), and the Uni-vent Eagle 754 (Impact Instrumentation). Over the forecast period, the US market is anticipated to grow at a robust CAGR of 5.7%. In 2022, the USA took the lead in the global market, contributing approximately 35% of the total revenue. This was attributed to significant manufacturing advancements by leading manufacturers and a surge in demand, primarily driven by patients with severe COVID-19 cases.
Conversely, the Asia Pacific market is forecasted to experience a CAGR exceeding 7%. The region’s increasing healthcare expenditures, driven by a growing prevalence of respiratory diseases, are expected to fuel market expansion throughout the forecast period. As a noteworthy example, in January 2021, CSIR-NAL unveiled the Swasth Vayu, a non-invasive airway pressure ventilator.
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The Mechanical Ventilators Market revenues were estimated at US$ 5.7 Billion in 2022 and is anticipated to grow at a CAGR of 5.7% from 2023 to 2033, according to a recently published Future Market Insights report. By the end of 2033, the market is expected to reach US$ 10.5 Billion. The market for mechanical ventilators is being driven by the increased prevalence of chronic obstructive pulmonary disease, rising incidence of respiratory crises, and technical advancement in respiratory care equipment.
Furthermore, major mechanical ventilator manufacturers and the government had taken action to boost ventilator production to address increased demand throughout the pandemic. As a result, the industry’s expansion has been fueled by the existence of many producers as well as government attempts to enhance market output. The expensive expense of mechanical ventilators, as well as the danger of ventilator-related infections such as nosocomial pneumonia, limit their use.
Competitive Landscape
Hamilton Medical, Getinge, Drägerwerk AG & Co., Smiths Medical, GE Healthcare, Ventec Life Systems, and Vyaire Medical Inc. are the prominent providers of Mechanical ventilators.
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A few of the recent developments of key Mechanical Ventilator providers are as follows:
- In January 2023, OES Medical debuted a new mains-powered ICU ventilator at the ABHI UK Pavilion at Arab Health 2023 to help hospitals control oxygen demand.
- In May 2022, CorVent Medical gained CE Mark clearance and began selling their RESPOND-19 Ventilator in Europe. This method is meant to allow hospitals to enhance the treatment of critically sick patients with acute respiratory distress syndrome by providing an easy-to-use, flexible augmentation of critical care ventilation capacity (ARDS).
- In April 2020, Koninklijke Philips N.V. announced that it will increase its hospital ventilator output to 4,000 units per week. In addition, the business expected to begin production of its Philips Respironics E30 ventilator with a weekly output of 15,000 units.
This strategic decision supplemented the company’s current line of mechanical ventilators and added to its unique product portfolio, providing additional options to build highly effective COVID-19 solutions.
- In November 2020, Philips announced the introduction of Ventilator BiPAP A40 Expiratory Flow Limitation (EFL), a noninvasive ventilator for COPD patients.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Mechanical Ventilators Market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights by Product (Critical Care, Neonatal, Transport & Portable, Other Product Types), By Ventilation Mode (Invasive, Non-invasive), by End-user (Hospitals, Home Healthcare, Other End-Users), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Market Segments Covered in Mechanical Ventilator Industry Analysis
By Product Type:
- Critical Care
- Ventilators
- Accessories
- Neonatal
- Ventilators
- Accessories
- Transport & Portable
- Ventilators
- Accessories
- Other Product types
By Ventilation:
- Invasive
- Non-invasive
By End-User:
- Hospitals
- Home Healthcare
- Others
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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