The global medical ventilator market size to reach USD 4.4 billion in 2020, growing at a CAGR of 10% by 2025. The global medical ventilator market is one of the fastest-growing segments in the medical devices market. Factors such as the prevalence of COPD patients, the outbreak of pandemic COVID-19, the increase in the aging population, and technological innovations in respiratory care devices are likely to boost the global ventilator market during the forecast period. There is a sudden spike in demand for ventilators and respiratory inhalers due to the eruption of the COVID-19 pandemic. It is likely to push the demand by 10-folds.
Europe and North America are braving the onslaught of the virus. The rising incidence of patients infected with the coronavirus in several countries is fueling the ventilator demand in the health industry. However, the presence of several risks, including pneumonia, is hampering the penetration of the market significantly.
MEDICAL VENTILATOR MARKET SEGMENTATION
This research report includes detailed market segmentation by
- Patient group
INSIGHTS BY INTERFACE
The invasive segment is projected to grow at the highest CAGR during the period 2019–2025
The invasive segment is likely to retain its market dominance during the forecast period. The rise in the COVID-19 pandemic and the growth in respiratory disorders COPD prevalence are expected to drive the segment. The growing shift toward the application of non-invasive (NIV) product is contributing to the growth of the non-invasive segment. Vendors are prioritizing to develop and commercialize innovative non-invasive ICU ventilator.
INSIGHTS BY MOBILITY
The standard ventilators segment is expected to register a revenue growth of over 16 billion by 2025
Intensive care units and emergency care units are the major end-users of standard ventilators. The icu ventilator market is likely to dominate the market, especially in developed countries.
Portable ventilators can be used at several point-of-care diagnostic sites, ambulances, and ambulatory settings. They provide long-term ventilation support for patients that do not require complex critical care ones. The segment is expected to observe promising demand due to the outbreak of COVID-19. Ventilators are majorly used to treat affected patients in emergency care and critical care settings.
INSIGHTS BY PATIENT GROUP
The adults segment is likely to witness an incremental growth of over $1 billion during the forecast period
The adults segment is anticipated to retain its market dominance during the forecast period. This is due to the exponential increase in the usage of invasive and non-invasive ventilators for treating adult COVID-19 patients. A high prevalence of respiratory disorders among preterm newborns and infants is boosting the adoption of pediatric and neonatal ventilators. Governments across the globe have started to procure these machines as a precautionary measure.
INSIGHTS BY END-USER
The hospital end-user segment is expected to observe a revenue share of over $1.6 billion by 2025
In 2019, hospitals accounted for a 66% in the global medical ventilators market share. They are likely to emerge as the major revenue contributor to the market. The high growth of the segment can be attributed to the increasing ventilators adoption, COPD, aging population, and other respiratory diseases.
The revenue share of the homecare segment in developed countries is likely to grow at a faster rate. The rise is due to the growth in the elderly population and epidemiology and social changes. The homecare mechanical ventilators market growth is reducing the overcrowding of ICUs.
INSIGHTS BY APPLICATION
The critical care segment is likely to grow at the highest CAGR during the forecast period
The critical care segment accounted for a 55% share in 2019. Intubation, with subsequent mechanical ventilation support, is a common life-saving intervention in critical care settings. The outbreak of the COVID-19 has increased the number of admissions in critical care settings, and ICUs requires ventilation support.
The critical care segment is likely to grow at a faster rate. The segment is likely to retain its dominance in the global ventilator market size. The segment is expected to witness an incremental growth of over $718 million during the forecast period.
The emergency care application segment accounted for a share of 25% in the global ventilators market. There is significant overcrowding in emergency care units across the globe due to the COVID-19 epidemic. Patients that are discharged from critical care units are admitted to emergency departments for monitoring and observation. Across the globe, several medical centers have been converted into emergency care settings to treat the patient suffering from the COVID-19.
INSIGHTS BY GEOGRAPHY
Europe is leading the global medical ventilator market, and the region is expected to grow at the highest CAGR
Currently, European countries are worst hit by the COVID-19 virus. Italy, Germany, Spain have suffered a high number of deaths since the outbreak of the diseases. This pandemic has tested the foundation of the healthcare sector. The demand for ventilators is touching new heights to stabilize the situation across the region.
The US medical ventilators market accounted for a share of 90% in the North American region. Owing to the COVID-19 pandemic, the medical ventilators manufacturers have increased their production by 3 to 4 times to meet the current demand across the country.
The growing geriatric population, improvement in healthcare infrastructure, and an increase in private sector investment in healthcare are the major factors driving the APAC market. The medical ventilator market in India is growing at the fastest CAGR in the APAC region.
INSIGHTS BY VENDORS
The market is fragmented with the presence of several global, regional, and local vendors. Hamilton Medical, Medtronic, Vyaire Medical, GE Healthcare, SCHILLER, Koninklijke Philips, and Drägerwerk are the key medical ventilator manufacturers in the global ventilators market.
Medtronic’s medical ventilator can be used in home care, transport, hospital, long-term care, and emergency care. The GE ventilator market share is likely to be impacted due to the outbreak of the recent pandemic. Getinge, Hill-Rom Holdings, Medtronic, ResMed, Drägerwerk, Hamilton Medical and Vyaire Medical are scaling up the production of ventilators by 50% to 200%. Hamilton ventilator are a noteworthy market share. Although large vendors dominate the market, they are witnessing heavy competition from regional and local medical ventilator companies from India, China, Italy, and Germany. Several regional vendors are offering cost-effective ventilators in Europe, Asia Pacific, and Middle East & Africa regions.
The medical ventilator market research report includes in-depth coverage of the industry with revenues & forecasts for the following segments:
Market Segmentation by Interface
Market Segmentation by Mobility
Market Segmentation by Patient Group
- Pediatrics & Neonates
Market Segmentation by Application
- Critical Care
- Emergency Care
- Home Care
- Neonatal Care
Market Segmentation by End-user
- Homecare Settings
- Emergency Care Providers
Market Segmentation by Geography
- South Korea
Middle East & Africa