Mechanical Ventilator Market Leading Players Analysis, Size And Growth Factors By 2030

Mechanical Ventilator Market Growth & Trends

The global mechanical ventilator market size is expected to reach USD 4.22 billion by 2030, according to a new report by Grand View Research Inc. It is expected to expand at a CAGR of 4.8% from 2022 to 2030. The unprecedented dawn of COVID19, increasing incidence of chronic obstructive pulmonary disease (COPD), rising incidence of respiratory emergencies, and technological innovation in respiratory care devices are the major factors driving the market for mechanical ventilators.

Mechanical Ventilator Market Segmentation

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

Based on the Product Insights, the market is segmented into Critical Care, Neonatal, Transport & Portable, and Others.

• Critical care ventilators dominated the market with a share of over 35.0% in 2021 due to the high adoption and installation rate in hospitals. Critical care ventilators are majorly used in hospital intensive care units. A positive impact on revenue growth is expected, with an increase in the number of hospitals and healthcare facilities. The growing prevalence of target indications is expected to boost hospital admission rates as affected patients might need frequent ventilation. Transport and portable mechanical ventilators are expected to witness the fastest growth during the forecast period owing to their efficiency in a variety of applications in different care delivery settings.
• The evolution of patient-friendly, cost-effective, and portable devices further encourages their usage. The application of transport and portable ventilators ranges from home care to ambulatory centers. Growth in the market for point-of-care treatment and an increase in the cases of medical emergencies are vital factors behind the segment growth. Hospitals are encouraging the usage of portable ventilators to provide convenient and faster care to patients from an ambulance to the hospital bed. Portable ventilators prompt the patients to adopt home care, hence increasing its popularity.

Based on the Mode Insights, the market is segmented into Invasive and Non-invasive.

• The non-invasive ventilation mode emerged as the largest segment and accounted for over 55.0% share in 2021. The segment is also likely to witness the fastest growth during the forecast period. The usage of non-invasive mechanical ventilation in a wide range of applications and its ability to offer precise and higher concentrations of oxygen are key factors contributing to the segment growth. The non-invasive ventilation can be delivered using advanced intensive care ventilators that can offer various respiratory support modes.
• Extensive R&D investments in the healthcare sector and growing per capita income further boost the overall market growth. Consistent increase in the number of patients suffering from respiratory diseases is the main factor for the growth of the CPAP devices market. In the non-invasive ventilation mode segment, the CPAP accounted for over 35.0% share of the overall revenue. These devices are used in emergency settings and hospitals as an oxygen source for patients suffering from respiratory issues. CPAP devices can also support oxygen provision among patients undergoing heart treatment.

Based on the End-use Insights, the market is segmented into Hospitals, Home Healthcare and Others.

• The hospitals segment dominated in 2021 with a revenue share of over 45.0%. This is owing to growing hospitals’ expenditure that allows the acceptance of technologically advanced ventilators. In addition, the availability of skilled health care providers to operate these ventilators, the increased emphasis on better health outcomes, and improved productivity of hospitals are contributing to the segment growth. Furthermore, constant monitoring offered by hospital staff is likely to increase the preference of patients for these healthcare facilities.
• The home healthcare segment is expected to witness the fastest growth during the forecast period. An increasing number of government initiatives aimed at curbing healthcare expenditures by promoting home healthcare support the market growth. Value-based healthcare is another major factor contributing to market growth. In the U.S., Medicare reimbursements are highly favorable in providing value-based healthcare for improved patient outcomes at a low cost. Thus, in-home care has become a modality of choice for treatment and is expected to witness lucrative growth over the forecast period.

Mechanical Ventilator Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Companies Profile & Market Share Insights

Manufacturers are bracing up to multiply the production capacity to meet the globally rising demand to overcome the COVID-19 disease outbreak.

Some of the prominent players operating in the global mechanical ventilator market include,

• Medtronic
• Abbott
• Boston Scientific Corporation
• BIOTRONIK SE & Co. KG
• MicroPort Scientific Corporation
• Koninklijke Philips N.V.
• Stryker
• ZOLL Medical Corporation (Asahi Kasei)
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• Nihon Kohden Corporation
• Schiller AG
• ResMed
• Fisher & Paykel Healthcare Limited
• Drägerwerk AG & CO. KGAA
• Getinge AB
• Asahi Kasei Corporation
• Air Liquide
• Vyaire Medical, Inc.
• GE Healthcare
• Hamilton Medical
• Smiths Group plc
• Allied Healthcare Products, Inc.
• aXcent Medical GmbH
• Metran Co., Ltd
• MAGNAMED
• Avasarala Technologies Ltd
• Airon Corporation
• TRITON Electronic Systems Ltd.
• Bio-Med Devices, Inc.
• Hill-Rom Holdings, Inc.
• HEYER Medical AG
• Leistung Engineering Pvt. Ltd.

Order a free sample PDF of the Mechanical Ventilator Market Intelligence Study, published by Grand View Research.