Overview and Scope
A mechanical ventilator is a machine that automatically performs all or part of the effort required to transport gas into and out of the lungs. It helps a person to breathe when they find it difficult to breathe on their own.
Sizing and Forecast
The mechanical ventilator market size has grown rapidly in recent years. It will grow from $7.79 billion in 2023 to $8.83 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to emergency preparedness initiatives, research and development initiatives, medical advancements and critical care needs, epidemics and pandemics, aging population and chronic respiratory diseases.
The mechanical ventilator market size is expected to see rapid growth in the next few years. It will grow to $15.13 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to global health emergencies and pandemics, emergency response preparedness, adherence to regulatory standards, government investments and initiative, global healthcare infrastructure development. Major trends in the forecast period include focus on energy efficiency, integration with wearable technology, wireless connectivity and remote monitoring, incorporation of AI and machine learning, modular and customizable systems.
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Segmentation & Regional Insights
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
North America was the largest region in the mechanical ventilator market in 2023. The regions covered in the mechanical ventilator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Improving healthcare infrastructure is expected to propel the growth of the mechanical ventilator market. Healthcare infrastructure is referred to as a foundation for planning, evaluating, delivering, and implementing improvements in public health. The outbreak of the COVID-19 pandemic has increased the need for infrastructure readiness and the demand for improved healthcare facilities. Many hospitals are increasing their capacity of mechanical ventilators to tackle the urgent need without facing a shortage of medical devices for treatment in an emergency. For instance, in June 2021, the government of India planned an INR 50,000 crore ($6.8 billion) program to boost health infrastructure in the country. Therefore, the improving healthcare infrastructure is driving the growth of the mechanical ventilator market.
Key Industry Players
Major companies operating in the mechanical ventilator market report are Air Liquide, Medtronic PLC, Becton Corporation, Koninklijke Philips N.V., GE Healthcare, Atos Medical, Smiths Medical, Bio-Med Devices Inc., ResMed, Hill-Rom Holdings Inc., Getinge, Dräger, Spirax-Sarco, Chart Biomedical, Fisher & Paykel Healthcare Limited, ZOLL Medical Corporation, Vyaire Medical Inc., Welch Allyn, SCHILLER, Hamilton Medical, Avasarala Technologies Limited, Ventec Life Systems, Allied Healthcare Products Inc., Bunnell Inc., Carl Reiner GmbH, Acoma Medical Industry Co Ltd., Airon Corporation, aXcent Medical GmbH, Trident Medical Innovations
The mechanical ventilator market report table of contents includes:
1. Executive Summary
2. Mechanical Ventilator Market Characteristics
3. Mechanical Ventilator Market Trends And Strategies
4. Mechanical Ventilator Market – Macro Economic Scenario
5. Global Mechanical Ventilator Market Size and Growth
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31. Mechanical Ventilator Market Other Major And Innovative Companies
32. Global Mechanical Ventilator Market Competitive Benchmarking
33. Global Mechanical Ventilator Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Mechanical Ventilator Market
35. Mechanical Ventilator Market Future Outlook and Potential Analysis
36.Appendix
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