Mechanical Ventilator Market is projected to boost the demand over the forecast period

 Mechanical Ventilator Industry Overview

The global mechanical ventilator market size was valued at USD 5.79 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030. The unprecedented dawn of COVID-19 boosted the demand for mechanical ventilators by leaps and bounds in 2020. The intuitive measures adopted by the government and the manufacturers to curb the initial unpreparedness for the pandemic resulted in the inflow of mechanical ventilators at the expedited rate.

However, owing to the development of the Covid-19 vaccine in 2021, coupled with effective therapeutic options to treat mild to moderate symptoms of the infection, the growth has been stabilized. In addition, there is an expected decrease in the infection rate of coronavirus due to high awareness amongst the population and adherence to physical distancing measures. To restrict the spread of the pandemic, governments in various countries have implemented strict measures including social distancing.

 

Gather more insights about the market drivers, restrains and growth of the Global Mechanical Ventilator market

 

In a welcome move, the U.S. FDA temporarily waived its enforcement and inspection requirements, which would be helpful for cross-industry manufacturers to fabricate much-needed components for ventilators and other critical care equipment. Supportive and timely regulatory policies by the government are anticipated to provide a growth platform for this market in the coming financial year, thereby affecting the growth rate over the forecast years.

A rise in the incidence of Chronic Obstructive Pulmonary Disease (COPD), rapid growth in the elderly population, and technological innovation are major factors likely to drive the market over the forecast period. The evolution of patient-friendly, cost-effective, and portable devices can further encourage their usage. For instance, in April 2020, InnAccel Technologies announced the introduction of a non-invasive ventilation system intended for use in ICU with COVID-19 patients.

COPD and asthma are the most prevalent respiratory conditions across the world. According to the WHO, COPD is the third leading cause of death globally, causing 3.23 million deaths in 2019. In November 2020, Philips introduced Ventilator BiPAP A40 Expiratory Flow Limitation (EFL), a noninvasive ventilator for COPD patients. With this, clinicians can detect EFL in hypercapnic COPD patients at the point of care, ensuring the delivery of optimal homecare therapy. Increased demand for home healthcare is anticipated to have a favorable impact on the demand for home care ventilators in the coming years.

The COVID-19 pandemic has been advantageous for the market and it rendered a positive impact on the market growth. The requirement for ventilation facilities during the COVID-19 outbreak quickly improved day-to-day operational capabilities. The American Association for Respiratory Care joined forces with the different organizations to train respiratory therapists on operating ventilators during COVID-19. This has further stimulated the market players to increase their production capacities to meet the augmented demand.

Many manufacturers were flooded with orders during the pandemic. In March 2020, Philips announced that it ramped up the production of critical care products and solutions to support the diagnosis and treatment of patients with COVID-19. The company also increased the production of patient vital signs monitors and portable ventilators and consumables for invasive and noninvasive ventilation to treat a wide range of breathing conditions.

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• Infection Control Market - The global infection control market size was estimated at USD 201.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2030. The market is predominantly driven by growing number of surgical procedures that require high-intensity infection prevention.

 

• Wearable Medical Device Market - The global wearable medical device market size was valued at USD 21.3 billion in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 28.1% from 2022 to 2030. The growth of industries such as home healthcare and remote patient monitoring devices is anticipated to influence market growth.

 

Mechanical Ventilator Market Segmentation

Grand View Research has segmented the global mechanical ventilator market report on the basis of product, ventilation mode, end use, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2030)
  • Critical Care
    • Ventilators
    • Accessories  
  • Neonatal
    • Ventilators
    • Accessories              
  • Transport & Portable
    • Ventilators
    • Accessories  
  • Others 

 

• Ventilation Mode Outlook (Revenue, USD Million, 2017 - 2030)
  • Invasive
  • Non-invasive
    • CPAP
    • BiPAP
    • Others

 

• End-use Outlook (Revenue, USD Million, 2017 - 2030)
  • Hospitals
  • Home Healthcare
  • Others

 

• Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

 

Market Share Insights

• January 2022: OES Medical joined the ABHI UK Pavilion at Arab Health 2022 to launch a new mains-powered ICU ventilator to support hospitals in managing oxygen demand.
• May 2021: CorVent Medical received CE Mark approval and launched commercial use of its RESPOND-19 Ventilator in Europe. The novel system is designed for easy-to-use, flexible expansion of critical care ventilation capacity to allow hospitals to improve the treatment of critically ill patients suffering from acute respiratory distress syndrome (ARDS).

 

Key Companies profiled:

Some prominent players in the global mechanical ventilator market include:

• Getinge AB
• Medtronic
• Vyaire Medical Inc.
• Drägerwerk AG & Co. KGaA
• Koninklijke Philips N.V.
• Hamilton Medical
• GE Healthcare
• Smiths Medical
• ZOLL Medical Corporation
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

 

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