The ventilator market value is projected to grow from USD 2.7 billion in 2021 and is projected to reach USD 6.4 billion by 2030, growing at a CAGR of 10% from 2021 to 2030.
The report contains 150+ pages with detailed analysis. The market report also covers the estimated market sizes and trends for different countries across major regions, globally.
The rising prevalence of the chronic respiratory diseases among the population is boosting the growth of the global ventilator market. Chronic obstructive pulmonary disease (COPD), asthma, occupational lung disease, and pulmonary hypertension are the most common chronic respiratory diseases. The demand for the respiratory monitoring devices including the ventilators surged rapidly in 2020 owing to the rapid spread of the COVID-19 virus across the globe.
According to the WHO, around 4.7 million patients were affected by the COVID-19 virus by May 2020. There is an acute shortage of ventilators across the globe. The rising investments by the top market players to expand the production capabilities are expected to drive the growth of the global ventilator market. For instance, in April 2020, Koninklijke Philips raised its production capacity of ventilator for hospital to meet the demand-supply gap of the ventilators.
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Ventilator Market Size (USD Billion) and CAGR (%) 2019 to 2025
| Name | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |||||||
| Ventilator Market Size | 2.3 | 2.5 | 2.7 | 3.0 | 3.3 | 3.6 | 4.0 | |||||||
| Ventilator Market CAGR | 10.66 | % | 10.82 | % | 9.34 | % | 9.46 | % | 9.59 | % | 9.73 | % | 9.86 | % |
Market Dynamics
Driver
The rising number of ICU admissions is expected to drive the market
The respiratory diseases is rising across the globe owing to various factors such as smoking, pollutions, obesity, and changing lifestyle. According to the University of California, over 2 million patients in Germany is admitted to ICU every year and around 42% of these patients require ventilation. Hence, the rising number of ICU admissions is expected to drive the market growth in the forthcoming years.
Ventilator Market Share, By Type, 2020 (%)
| Type Segment | 2020 (%) | |
| Adult | 65 | % |
| Neonatal | 35 | % |
Restraint
Lack of proper healthcare infrastructure
The lack of adequate healthcare infrastructure in the underdeveloped and developing regions coupled with lack of adequate number of ICU units in hospitals may restrict the adoption of the ventilators, which may hinder the market growth during the forecast period.
Opportunities
Technological advancements in the ventilators
The rising investments in the research and development of the ventilator technologies has resulted in the new product launches with latest features that is expected to foster the market growth in the foreseeable future. For instance, in January 2020, Dragerwerk introduced new ventilators for ICU that supports the accomplishment of daily clinical tasks in the ICU units.
Challenges
Huge gap in the demand and supply
There is a huge gap between the demand and supply of the ventilators across the globe. The time required to fill this gap is huge and hence the potential growth in the revenue is not achieved by the market players.
Report Highlights
- Based on the type, the adult segment dominated the market in 2020. The old age people are vulnerable to various chronic diseases and has increased chances of getting admitted to the ICUs for treatment. Therefore, the rapidly growing geriatric population is a major market driver.According to the United Nations, there were around 382 million old age people, aged 60 years or above, across the globe in 2017 ad this number is expected 2.1 billion by 2050. Hence, the growing geriatric population across the globe is the most prominent driver of this segment.
- Based on the interface, the invasive segment dominated the market growth in 2020. This can be attributed to the increasing prevalence of chronic respiratory diseases like COPD. According to the WHO, the chronic obstructive pulmonary disease (COPD) caused 3.23 million deaths in 2019 and it is the third leading cause of death across the globe. Thus, the rising incidences of COPD and other respiratory diseases have significantly boosted the adoption of the ventilators in the past few years.
- Based on the end user, the specialty clinics segment is estimated to be the most opportunistic segment during the forecast period. The rising preference of the people in adoption of the services of the specialty clinics owing to its conveniences and personalized services is expected to drive the growth of this segment. Moreover, rising disposable income and increased healthcare expenditure has resulted in the increased demand for the specialized and premium services offered by the specialty clinics.
Regional Snapshot
North America dominated the global ventilator market in 2020. This is attributed to the increased number of ICU admissions in the region. As per the Society of Critical Care Medicine, over 5 million people get admitted to the ICU in US per year. Around 40% to 50% of these ICU admissions requires mechanical ventilation. Therefore, the rising number of admissions to ICU is expected to boost the adoption of the ventilators in the forthcoming years. Increased disposable income, increased adoption of healthcare insurances, and increased healthcare expenditure are the few factors that drives the growth of this region.
Asia Pacific is estimated to be the most opportunistic market during the forecast period. The rising pollution levels owing to the rapid urbanization and industrialization is expected to boost the number of respiratory diseases in the region. Further, rising government investments in the development of sophisticated healthcare infrastructure is further expected to increase the adoption of the ventilator across the healthcare units in the region.
Some of the prominent players in the global ventilator market include:
- ACOMA Medical Industry Co., Ltd.
- Dragerwerk AG & Co. KGaA
- MAQUET Holding B.V. & Co. KG.
- Bio-Medical Devices Intl
- GE Healthcare
- CareFusion Corporation
- Bunnell Incorporated
- Covidien
- Teleflex Incorporated
- Koninklijke Philips N.V.
Segments Covered in the Report
By Type
- Adult
- Neonatal
By Interface
- Invasive
- Non-Invasive
By End User
- Hospitals
- Specialty Clinics
- Others
By Mode
- Combined Mode Ventilation
- Volume Mode Ventilation
- Pressure Mode Ventilation
- Others
By Mobility
- Intensive Care Ventilators
- High-end ICU Ventilators
- Mid-end ICU Ventilators
- Basic ICU Ventilators
- Portable/Transportable Ventilators
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
Research Objective
the market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2017 to 2020. This research report evaluates ventilator market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global ventilator market for the period from 2017 to 2030. This research study offers historic data for years 2017 to 2020 along with a forecast from 2021 to 2030 based on value.
This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the ventilator market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
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