The Global Mechanical Ventilator Industry, with 2022 revenues estimated at US$ 5.7 Billion, is poised for robust expansion, projected to grow at a steady CAGR of 5.7% from 2023 to 2033, as revealed in a recent report by Future Market Insights. By the conclusion of 2033, the market is forecasted to achieve a remarkable valuation of US$ 10.5 Billion.
Driving this upward trajectory is the escalating prevalence of chronic obstructive pulmonary disease, a rising incidence of respiratory crises, and notable technical advancements in respiratory care equipment. Additionally, the market experienced a positive impact due to the COVID-19 pandemic. During the pandemic, the American Association for Respiratory Care collaborated with other organizations to provide training for respiratory therapists in the operation of ventilators. This collaborative effort spurred market participants to enhance their production capacity to meet the increased demand effectively.
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Because of respiratory failure due to the COVID-19 virus, the upper respiratory process requires intensive care and oxygen. The ventilator was used to supplement oxygen for extremely sick patients with the COVID-19 virus often. In late November 2021, synthesis of additional variants of COVID-19, high levels of airborne transmission, and a third upsurge in infections were discovered, leading to the possibility of an unprecedented pandemic on a global scale.
Furthermore, major mechanical ventilator manufacturers and the government had taken action to boost ventilator production to address increased demand throughout the pandemic. As a result, the industry’s expansion has been fueled by the existence of many producers as well as government attempts to enhance market output. The expensive expense of mechanical ventilators, as well as the danger of ventilator-related infections such as nosocomial pneumonia, limit their use.
Competitive Landscape
Hamilton Medical, Getinge, Drägerwerk AG & Co., Smiths Medical, GE Healthcare, Ventec Life Systems, and Vyaire Medical Inc. are the prominent providers of Mechanical ventilators.
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A few of the recent developments of key Mechanical Ventilator providers are as follows:
- In January 2023, OES Medical debuted a new mains-powered ICU ventilator at the ABHI UK Pavilion at Arab Health 2023 to help hospitals control oxygen demand.
- In May 2022, CorVent Medical gained CE Mark clearance and began selling their RESPOND-19 Ventilator in Europe. This method is meant to allow hospitals to enhance the treatment of critically sick patients with acute respiratory distress syndrome by providing an easy-to-use, flexible augmentation of critical care ventilation capacity (ARDS).
- In April 2020, Koninklijke Philips N.V. announced that it will increase its hospital ventilator output to 4,000 units per week. In addition, the business expected to begin production of its Philips Respironics E30 ventilator with a weekly output of 15,000 units.
This strategic decision supplemented the company’s current line of mechanical ventilators and added to its unique product portfolio, providing additional options to build highly effective COVID-19 solutions.
- In November 2020, Philips announced the introduction of Ventilator BiPAP A40 Expiratory Flow Limitation (EFL), a noninvasive ventilator for COPD patients.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Mechanical ventilator industry, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights by Product (Critical Care, Neonatal, Transport & Portable, Other Product Types), By Ventilation Mode (Invasive, Non-invasive), by End-user (Hospitals, Home Healthcare, Other End-Users), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Market Segments Covered in Global Mechanical Ventilators Industry Analysis
By Product Type:
- Critical Care
- Ventilators
- Accessories
- Neonatal
- Ventilators
- Accessories
- Transport & Portable
- Ventilators
- Accessories
- Other Product types
By Ventilation:
- Invasive
- Non-invasive
By End-User:
- Hospitals
- Home Healthcare
- Others
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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