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Artificial Respirator Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032
- Report ID: GMI4649
Artificial Respirator Market size will witness commendable growth through 2023-2032, given the burgeoning adoption of invasive and non-invasive ventilators in homecare settings following the COVID-19 outbreak. To address supply challenges and cater to substantial demand, new and existing manufacturers have been focusing on ramping up their output.
For example, the U.S. government awarded a USD 646.7 million contract to Philips to deliver a total of 43,000 ventilators by the 2020 end. The requirement to treat patients with lung disorders and deteriorating health conditions during the pandemic has thus amplified artificial respiration machine production.
Artificial respiratory devices are primarily utilized to induce breathing through manipulative techniques when natural respiration is faltering or has ceased. The machine is deployed to provide breathing support to patients undergoing general anesthesia or critical illness. When applied effectively and quickly, it can prevent deaths from electric shock, carbon monoxide poisoning, suffocation, and other conditions that close off the airways.
The increasing prevalence of respiratory diseases among children and adults will foster global artificial respirator market trends over the forthcoming years. For instance, in August 2022, clinicians notified the CDC of an upsurge in pediatric patient hospitalizations due to severe respiratory illness and positive rhinovirus and enterovirus test results. Furthermore, rapid technological advancement and the rise in elective surgeries with the gradual ease of COVID-19 restrictions are projected to add impetus to the growth of artificial oxygen respirator manufacturers.
The constant pressure product segment is expected to account for a considerable market share by 2032, due to the high incidence of sleep apnea. As per data from Houston Sleep Solutions, 1 in every 15 Americans, or 18 million Americans are diagnosed with the condition. The rising disease burden will bolster the demand for common treatments including CPAP (continuous positive airway pressure) therapy. Key attributes of CPAP machines such as improved sleep quality, low risk of stroke and heart attack, and improved sugar management in diabetic patients will further stimulate the popularity of constant pressure artificial respiratory techniques.
Based on the end-use, the artificial respirator market value from the hospitals & clinics segment will increase over the foreseeable future, given the increasing rate of lung-related diseases. Based on the WHO, around 50 million people suffer from occupational lung diseases globally. These factors will augment the demand for expert pulmonologists in hospitals and consequently drive respirator adoption. Private hospitals and clinics have also been witnessing an upsurge in elective surgical procedures, creating a positive impact on industry development over the estimated timeline.
Europe is slated to emerge as a lucrative revenue pocket for the artificial respirator market from 2023 to 2032. The rising number of deaths due to serious lung diseases and the high prevalence of heart conditions are among the prominent drivers for artificial respirator demand. Based on data from the British Heart Foundation, nearly 7.6 million people are living with heart and circulatory diseases across the UK, mainly due to the aging population. Moreover, improved survival rates from heart and circulatory events will proliferate regional industry development in the upcoming years.
Fisher & Paykel Healthcare, Dräger, CareFusion (a BD Company), and Ambu are some of the key players in the artificial respirator market. These companies are focusing on product portfolio expansion and other strategies to reinforce their presence in the global market. For instance, in November 2022, Fisher & Paykel Healthcare unveiled a range of products, including the F&P 950 respiratory humidification system, at the MEDICA annual medical technology trade fair, to ensure effective respiratory care.
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