Mechanical Ventilators Market size to surpass $9 Bn by 2026

Mechanical Ventilators Market size is expected to cross USD 9 billion by 2026; according to a new research report by Global Market Insights, Inc.
 

Growing geriatric population suffering from chronic respiratory diseases is one of the factors impelling the market growth. Increasing prevalence of pandemic virus infections resulting in respiratory emergencies will boost the market growth. Additionally, growing investments in healthcare facilities coupled with an upsurge in the number of critical care beds will augment the industry growth across the globe.

 

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Continuously rising cases of COVID-19 coupled with introduction of technologically developed ventilators will boost the market growth

The growing presence of large patient pool suffering from the pandemic COVID-19 outbreak is anticipated to witness the robust growth in the projected years. For instance, according to a recently published statistics by the Centers for Disease Control and Prevention (CDC), in April 2020, the confirmed and presumptive positive cases of COVID-19 in the U.S. were more than 300,000.
 

Mechanical Ventilators Market By Regions

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Moreover, with the advent of technological advancements in mechanical ventilators, that will be used to assist the patients with breathing problems will further enhance the mechanical ventilators market growth. For instance, in March 2020, a group of physicists from North America and Europe developed a new, stripped-down mechanical ventilator for COVID-19 patients. This new ventilator was produced quickly and cost-effectively with the help of existing stock and supplies. Furthermore, increasing number of beds in intensive care units (ICUs) coupled with higher expenditure in healthcare sector will augment the market growth.
 

Increasing mass casualty incidents across the globe

Portable ventilators market was valued at USD 400 million in 2018 and is expected to show lucrative growth over 2020 to 2026. Drastic increase in the COVID-19 cases across the globe, mass casualty incidents, growing number of patients with pneumonia and ability to improve critical care transportations are the factors driving industry demand.
 

Several uses of invasive ventilators for the treatment of various respiratory disorders

Invasive ventilation segment is projected to expand at more than 17.5% CAGR through 2026. The invasive ventilation is used during acute respiratory failure, weaning and chronic respiratory disorders. Moreover, it assists in maintaining the patient’s airway at the time of surgical operations.
 

Browse key industry insights spread across 1,000 pages with 2,556 market data tables & 40 figures & charts from the report, Mechanical Ventilators Market Size By Product (Intensive Care Ventilators {High-end, Mid-end, Basic-end}, Portable Ventilators), By Interface (Invasive Ventilation, Non-invasive Ventilation {CPAP, BiPAP, APAP}), By Ventilator Type (Adult Ventilators, Neonatal Ventilators), By Application (Resuscitation, Homecare Applications, Emergency/Transport, Sleep Apnea Therapy, Anaesthesiology, Clinical Applications), By Mode (Combined Mode Ventilator, Control Mode Ventilator, Pressure Mode Ventilator), By End-use (Hospitals, Ambulatory Surgical Centers, Homecare), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/mechanical-ventilator-market
 

Rising deaths of children coupled with increasing number of preterm births

The neonatal ventilators market was valued at around USD 300 million in 2018. Increasing number of preterm births and large number of children deaths below the age of 5 will increase product demand.
 

Companies manufacturing new ventilation systems for home healthcare will support industry expansion

Homecare applications accounted for around 20% mechanical ventilators market share in 2018. It drives the market growth as it is more convenient, less expensive and equally effective as compared to the care received in hospitals and ambulatory surgical centers. The growing demand for home healthcare has urged major companies to develop new and easy-to-operate ventilators.
 

Several unique advantages of combined mode ventilation will enhance the segmental growth

Combined mode mechanical ventilators market held over USD 400 million in 2018. The combined mode ventilator system switches between pressure control and volume control in a single breath. It also provides an additional benefit to reduce work of breathing while maintaining a minimum guaranteed tidal volume and minute ventilation.
 

Increasing number of hospital admissions due to outbreak of COVID-19 will contribute to the segmental growth

The hospitals segment held significant share of around 44% in 2018. The segmental growth is attributed to the strong presence of patients suffering from COVID-19 that leads to the hospital admissions, which in turn will lead to the adoption of ventilators in hospitals. For instance, according to the recently published news article, in March 2020, the number of people hospitalized in the UK with COVID-19 was more than 10,000. Furthermore, rising number of chronic respiratory diseases is also contributing into the market growth. Thus, owing to these factors, there will be strong adoption of mechanical ventilators across the globe in the upcoming years.
 

Strong presence of companies manufacturing mechanical ventilators and growing prevalence of coronavirus disease will boost the market growth

Spain mechanical ventilators market is projected to register an exponential growth over the analysis period. Growing prevalence of COVID-19 cases and increasing rate of hospitalization due to respiratory illness will drive the growth of mechanical ventilators across the country. For instance, according to a recent report published by the World Health Organization, in April 2020, the total confirmed cases of COVID-19 in Spain were around 135,000 with over 13,000 total deaths.
 

Companies are focusing on the manufacturing of ventilators to support hospitals and ICUs in the current health crisis. For instance, in March 2020, Leitat Technology Centre developed the 3D printed respirator that is intended to assist patients in breathing for a short period of time. Thus, introduction of new technologies coupled with increasing breathing related problems will impel the market growth over the analysis timeframe.
 

China is anticipated to expand at 15% CAGR over 2020 to 2026. Growing demand for the lifesaving machines due to COVID-19 pandemic will provide opportunity to ventilator manufacturing companies. For instance, as per the recent news, in March 2020, Chinese companies have signed the contracts for manufacturing 20,000 multifunction mechanical ventilators and this production is expected to increase on a daily basis in the future.
 

Moreover, large existing patient pool receiving prolonged mechanical ventilation in intensive care units and strong presence of companies manufacturing mechanical ventilators will further contribute to the business growth over the forecast period.
 

Companies focusing on new product launches and production expansions will positively impact the market growth

The major players in the mechanical ventilators market share are Medtronic, Getinge, Drägerwerk, Hamilton Medical, Philips, ResMed, GE Healthcare and Fisher & Paykel among others. In order to increase the market share and geographical presence, these companies are focusing on major strategies such as partnerships, new product launches, acquisitions, collaborations and production expansions. For instance, in March 2020, Air Liquide Medical Systems (ALMS) increased its production capacity to produce 10,000 ventilators in 50 days. This will satisfy the urgent need for ventilators to treat the patients affected by COVID-19, thereby fueling the industry growth.
 

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