Impact of COVID-19 on the US Ventilator Industry Market Size, Trends and Forecast To 2025

The US is the leader in the global medical device industry. As per the International Trade Administration, the US generated a revenue of $156 billion in 2017, which accounted for 40% of the global medical device industry. The US medical device companies are renowned globally owing to their high technology and innovative products. Even though the country has a significant share in medical device, it is currently facing a shortage of essential medical equipment amid COVID-19 outbreak. The coronavirus cases in the US surpassed 100,000 and thereby healthcare facilities have been reported an increasing need for more medical equipment to provide better care to the COVID-19 patients. Among medical equipment, there is a remarkable demand for ventilators to provide breathing support to the COVID-19 patients, as the major symptom of the condition is breathing problem.

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The US government is working closely to meet the demand for ventilators and asked ventilator manufacturers to expand their ventilators production capacity. In March 2020, the US Food and Drug Administration (FDA) has taken action to support enhance the ventilators supply, ventilator accessories, ventilator tubing connectors, as well as filtering facepiece respirators (FFRs) due to COVID-19. The US FDA issued an Emergency Use Authorization (EUA) for supporting the emergency use of certain ventilators, positive pressure breathing devices, and anesthesia gas machines modified for use as ventilators in health care settings, anesthesia gas machines modified for use as ventilators.

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The EUA demonstrated the FDA's ability to adapt and react faster during the epidemic by offering higher flexibility in regulations and enabling to raise the inventory for the US ventilator. This, in turn, will allow patients with COVID-19 to have access to lifesaving devices which is urgently required. On 25th March 2020, Prisma Health received EUA from the US FDA for its VESper ventilator expansion device. This device will enable to increase the capacity of the ventilator for COVID-19 patients.

The study on the effect of COVID-19 on the US ventilator industry is segmented into portable and intensive care ventilators. Portable ventilators are being significantly adopted for the treatment of respiratory conditions. Portable ventilators are normally utilized by patients who require breathing support for the long-term. These are compact and lightweight and provides certain similar features that earlier was available only on expensive intensive care ventilators. Several companies are working towards increasing production of portable ventilators, as per the government orders. For instance, on 24th March 2020, ZOLL Medical Corp. declared that it is taking aggressive steps to expand the production capacity to 10,000 ventilators every month amid COVID-19 epidemic.

The major companies supplying ventilators to the US for the treatment of patients with COVID-19 include General Electric Co., ZOLL Medical Corp., Ford Motors Co., Ventec Life Systems, Inc., ResMed Corp., and Hill-Rom Holdings, Inc. These companies are partnering to expand their production limit of ventilators to cope up with the continuously increasing demand.

Industry Overview

Historical market growth estimation in the US ventilator industry excluding COVID-19 pandemic effect
Deviations in the US ventilator industry growth rate due to COVID-19 pandemic

Segmentation

By Type

Portable
Intensive Care

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