What Has Driven the Growth of the Mechanical Ventilator Market in Recent Years?
The mechanical ventilator market has seen considerable growth due to a variety of factors.
• Strong growth has been experienced in recent years in the mechanical ventilator market, which is projected to expand from $8.08 billion in 2024 to $8.8 billion in 2025, with a compound annual growth rate (CAGR) of 8.9%.
Factors contributing to this growth during the historic period include emergency preparedness efforts, research and development initiatives, advancements in medical technology, needs for critical care, epidemic and pandemic events, an aging population, and the prevalence of chronic respiratory diseases.
What Is the Forecasted Market Size and Growth Rate for The Mechanical Ventilator Market?
The mechanical ventilator market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of mechanical ventilators is anticipated to witness robust expansion in the coming years, with an estimate of reaching $12.66 billion by 2029, expanding at a 9.5% compound annual growth rate (CAGR). The predicted increase in the said period can be associated with various factors such as global health crises and pandemics, the readiness for emergency response, compliance with regulatory norms, government investments and initiatives, and the progression of the global healthcare infrastructure. Key trends in this timeframe are likely to center on energy efficiency, incorporation with wearable tech, wireless connectivity and distant observation, integration with AI and machine learning, as well as the development of modular and customizable systems.
What Are The Primary Growth Drivers In The Mechanical Ventilator Market?
The improvement and development of healthcare infrastructure is anticipated to boost the expansion of the mechanical ventilator market. In this context, healthcare infrastructure represents the bedrock for the design, evaluation, execution, and implementation of enhancements in public health. The advent of the COVID-19 pandemic has amplified the requirement for infrastructure preparedness and the appeal for advanced healthcare facilities. A significant number of hospitals are escalating their mechanical ventilator capacity to handle the pressing need without running into a scarcity of medical apparatus for emergency treatment. For example, in January 2024, the American Hospital Association, a trade group for the healthcare industry based in the US, reported that the country has a total of 6,120 hospitals, with 923 being run by state and local governments. These hospitals combined offer 916,752 staffed beds to cater to healthcare necessities across the nation. As a result, the enhancement of healthcare infrastructure is fueling the progression of the mechanical ventilator market.
What Key Areas Define The Segmentation Of The Global Mechanical Ventilator Market?
The mechanical ventilator market covered in this report is segmented –
1) By Type: Adult Ventilators, Pediatric Ventilators, Neonatal/ Infant Ventilators
2) By Mobility: Intensive Care Ventilators, High-End ICU Ventilators, Mid-End ICU Ventilators, Basic ICU Ventilators, Portable Ventilators
3) By Mode Of Ventilation: Invasive Ventilation, Non-Invasive Ventilation
4) By End-User: Hospitals and Clinics, Home Care, Ambulatory Care Centers, Emergency Medical Service, Other End-Users
Subsegments:
1) By Adult Ventilators: Invasive Adult Ventilators, Non-Invasive Adult Ventilators
2) By Pediatric Ventilators: Invasive Pediatric Ventilators, Non-Invasive Pediatric Ventilators
3) By Neonatal/Infant Ventilators: High-Frequency Ventilators, Conventional Ventilators for Neonates
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How Are Emerging Trends Reshaping The Dynamics Of The Mechanical Ventilator Market?
An emerging trend in the mechanical ventilator market is product innovation. Companies are directing resources towards the research and development of innovative products, with the objective of automating mechanical ventilators based on frequency, assist control, and time, thus reducing the workload of the ventilator. For example, in January 2022, OES Medical, a UK-based manufacturer specializing in anesthesia equipment and accessories, debuted the Gemini-G100, an electrically powered piston ICU ventilator. The Gemini-G100 is engineered to support global intensive care units, particularly in areas where high-pressure oxygen gas supply may pose a challenge. The device requires only electricity to operate, thereby alleviating pressure on the oxygen supply within healthcare facilities.
Who Are the Key Players in the Mechanical Ventilator Market?
Major companies operating in the mechanical ventilator market include:
• Air Liquide
• Medtronic plc
• Koninklijke Philips N.V.
• GE Healthcare
• Smiths Medical
• Bio-Med Devices Inc.
• ResMed
• Hill-Rom Holdings Inc.
• Getinge
• Dräger
• Chart Biomedical
• Fisher & Paykel Healthcare Limited
• ZOLL Medical Corporation
• Vyaire Medical Inc.
• SCHILLER
• Hamilton Medical
• Ventec Life Systems
• Allied Healthcare Products Inc.
• Bunnell Inc.
• Airon Corporation
• aXcent Medical GmbH
• Trident Medical Innovations
What Is The Most Dominant Region In The Mechanical Ventilator Market?
North America was the largest region in the mechanical ventilator market in 2024. The regions covered in the mechanical ventilator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
