Ventilators Market: Research Strategies with Share Analysis, Top Key Players with Opportunities Forecast to 2027

Global Ventilators Market is estimated to witness ~8% CAGR between 2021 and 2027. The surging elderly population along with the growing incidence of chronic respiratory disorders is anticipated to boost the demand for mechanical ventilators. Significant rising awareness of lung cancer symptoms and an increase in hospital admissions will fortify the demand for excellent treatment choices offering enormous growth opportunities. Furthermore, the global market is witnessing an uptick on account of the surging prevalence of the cardiovascular disease, the aging population, and other cardio-related problems that increases the possibility of cardiac arrest. As per the WHO, CVDs are the number 1 cause of death globally and approximately 31% of total deaths happened due to CVDs. Moreover, the rising global aging population who are more prone to the diseases are acting as a growth catalyst to the industry.

A ventilator, breathing machine, or respirator is a machine that assists with breathing. It is mainly used in hospitals to treat chronic obstructive pulmonary disease (COPD), sleep apnea, acute lung injury, and hypoxemia. The market is experiencing significant growth on account of the rising incidence of Asthma and COPD cases, rise in the aging population, increasing prevalence of tobacco smoking, growing urbanization and pollution, increase in the preterm birth cases, and lifestyle changes.

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Furthermore, the increase in government initiatives and the increase in focus of pharmaceutical companies to manufacture an advanced and portable devices. The rising prevalence of respiratory diseases and rising number of ICU beds is expected to drive growth in the ventilators market during the forecast period. In addition, ventilators penetration for home healthcare is expected to rise significantly owing to convenience and comfort provided by technologically advance and portable ventilators.

One of the major equipment used to treat COVID-19 is a medical ventilator. The demand for medical ventilators has risen dramatically, pushing manufacturers to increase output by 30-50%. Various large firms were competing to manufacture and deliver as many ventilators as possible around the world. Prior to the coronavirus outbreak, the rising prevalence of respiratory diseases and the increasing number of ICU beds were among the major factors offering growth to the global ventilators industry. However, there is an enormous demand for ventilators is being stated by every COVID-19 affected country. As, COVID-19 caused various lung complications such as pneumonia and, in the most severe cases, acute respiratory distress syndrome, or ARDS. Thus, ventilators are most significantly required while dealing with the population suffering from COVID-19.

According to 'UnivDatos Market Insights (UMI)' research report "Ventilator Market Analysis, 2020", the Ventilator market is projected to grow at a CAGR of ~8% during 2021-27F.

Based on the Mobility, the ventilator market is categorized into Intensive care ventilators and Portable/ transportable ventilators. In 2020, Intensive care ventilators category accounted for the majority share in the market. This is mainly attributed to the presence of various manufacturers and initiatives taken by government to increase the production of ventilators to provide care for patients with serious respiratory diseases and increasing number of ICU beds, have propelled the growth of the market.

On the basis of Type, the market has been bifurcated into Adult/pediatric ventilators and Neonatal/infant ventilators. In 2020, Adult/pediatric ventilators accounted for a higher market valuation of US$ XX billion in 2020. This is mainly due to the growing incidence of chronic diseases such as COPD & asthma in adult population coupled with the growing number of smoker and the rising number of lung cancer cases in geriatric population. According to the WHO, in 2020, lung cancer is the leading cause of cancer death (18.0%) of the total cancer deaths worldwide. The estimated new cases and deaths caused by lung cancer include 2,206,771 cases and 1,796,144, respectively..

Based on the Interface, the market has been divided into Invasive ventilation and Non-invasive ventilation. Non-invasive category to witness higher growth during the forecast period owing to increasing intensive care admissions and the adoption of Non-Invasive Ventilation to avoid lung injury are likely to drive the growth of the global non-invasive ventilator market.

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North America to Grab Lion's Share, and witnessed Explicit Growth
Based on the Region, North America will dominate the Ventilator market on account of increasing popularity of chronic diseases. Moreover, North American market is expected to witness substantial growth on account of the highly developed healthcare infrastructure, healthcare spending, and presence of a large number of market players in the region. In addition, the legislative policies by the government coupled with the surging prevalence of sudden cardiac arrest in the countries such as the U.S and Canada owing to the changing lifestyle are leading to the growing demand for defibrillators. As per the Sudden Cardiac Arrest Foundation, each year in the U.S., more than 350,000 cardiac arrests occur outside of a hospital setting. Furthermore, promulgating demand for automated external defibrillators (AEDs) is acting as a growth catalyst to the market. North America is expected to skyrocket with a CAGR of XX% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)' research report "Ventilator Market Analysis, 2020".

 In November 2021, Fisher & Paykel announced the launch of F&P Visairo, a hospital under-nose mask for noninvasive ventilation, in the U.S. The company's Visairo is a new high-performance under-nose hospital mask with dynamic support technology. This allows for bridge-free noninvasive ventilation, which eliminates pressure from the bridge of the nose and clears the way for an open field of vision, without compromising on stability and performance

 In June 2020, Medtronic plc and Foxconn Technology Group (Foxconn), announced that Foxconn has successfully completed Medtronic's regulatory and quality requirements necessary to begin manufacturing Medtronic Puritan Bennett 560 (PB560) ventilators for Medtronic in the U.S.
Medtronic and Foxconn planned to ramp up manufacturing to produce 10,000 PB560 ventilators over the next year at Foxconn's Wisconn Valley Science and Technology Park in Mount Pleasant, Wisconsin (U.S.). The ventilators are marketed and sold by Medtronic.

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According to UnivDatos Market Insights (UMI)', the key players with a considerable market share in the Koninklijke Philips N.V., Medtronic, Vyaire Medical Inc., GE Healthcare, Fisher & Paykel Healthcare Limited, Smiths Group plc, Drägerwerk AG & CO. KGAA, Getinge AB, Resmed, and Hamilton Medical, among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.

"Ventilator Market Analysis, 2020" provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Ventilator providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.

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Market Segmentation:
1. By Mobility (Intensive care ventilators and Portable/ transportable ventilators)
2. By Type (Adult/pediatric ventilators and Neonatal/infant ventilators)
3. By Interface (Invasive ventilation and Non-invasive ventilation)
4. By End-User (Hospitals & clinics, Ambulatory care centers, Home Care, and Others)
5. By Region (North America, Europe, Asia-Pacific, Rest of World)
6. By Company (Koninklijke Philips N.V., Medtronic, Vyaire Medical Inc., GE Healthcare, Fisher & Paykel Healthcare Limited, Smiths Group plc, Drägerwerk AG & CO. KGAA, Getinge AB, Resmed, and Hamilton Medical, etc.)

Key questions answered in the study:
1. What are the current and future trends of the Ventilator industry?
2. How the industry has been evolving in terms of end-user demand and Mobility areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Ventilator industry?
5. What is the customer orientation, purchase behavior, and expectations from the Ventilator firms across various regions?

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UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.

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