Ventilator Market - Global Industry Assessment & Forecast
- By Mobility Intensive Care Ventilators, Portable Ventilators
- By Interface Invasive Ventilation, Non-Invasive Ventilation
- By End-User Hospitals, Home Healthcare, Other End Users
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 6.59 Billion|
|Revenue 2028:||USD 9.09 Billion|
|Revenue CAGR (2022 - 2028):||7.1%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
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- Additional Countries (Apart From Mentioned Countries)
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- Region Level Market Share
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Global Ventilator market is valued at USD 6.59 Billion in 2021 and is projected to attain a value of USD 9.09 Billion by 2028 at a CAGR of 7.1% during the forecast period, 2022–2028.
The outbreak of the covid-19 pandemic, high prevalence of respiratory diseases, rapid growth in the geriatric population, increasing number of preterm births, and the rising number of ICU beds are driving growth in the Ventilator market. Technological advances in microprocessor-controlled ventilation combined with the complexity of new Ventilator modes have provided the multidisciplinary healthcare team with various opportunities to improve critically ill ventilator’s patient care. Advanced Ventilator` are also prepared for every situation and have a number of safeguards in place. Sensors and monitors are installed in patient-specific parameters such as air pressure, air volume, and flow speed, as well as generic parameters such as air leakage, mechanical failure, power failure, battery backups, oxygen tanks, and remote control.
The COVID-19 pandemic has wreaked havoc on many people's lives and companies on a massive scale. Businesses and commercial activity around the world have been severely disrupted by the outbreak. To relieve the load on the healthcare system and reduce disease transmission, various governments throughout the world have issued instructions to postpone or delay non-essential medical and surgical treatments. However, COVID-19 has given impetus growth to the Ventilator market.
Ventilator Market Size, 2021 To 2028 (USD Billion)
Rising Prevalence of Respiratory Diseases
The most common respiratory ailments worldwide are chronic obstructive pulmonary disease (COPD) and asthma. According to the Global Burden of Disease Study, around 251 million cases of COPD were documented worldwide in 2016. COPD is anticipated to become the world's third-largest health issue by 2020, according to the World Health Organization (WHO). According to the World Health Organization (WHO), approximately 235 million people worldwide suffer from asthma. As these target indications become more common, hospital admission rates and readmission rates for affected patients rise, as they may require regular breathing support.
Many people rely on reimbursements to pay for their medical care. Part B of Medicare in the United States pays for medically essential durable medical equipment, such as ventilators. Mechanical ventilators are devices that have exhalation valves, adjustable ventilator rates, and alarms, according to Medicare. Ventilators for the treatment of restricted thoracic disorders, neuromuscular diseases, chronic respiratory failure, and COPD are covered. Ventilators fall under Medicare's "Frequently and Substantially Serviced" payment category. As a result, Medicare pays for this category on a monthly rental basis, and patients have a long-term medical need for the device. Medicare, on the other hand, does not pay for the purchase and does not cover any other ventilator-related accessories, such as humidifiers.
The Global Ventilator Market can be segmented by Mobility (Intensive Care Ventilators and Portable Ventilators), By Interface (Invasive Ventilation and Non-Invasive Ventilation), By End User (Hospitals, Home Healthcare, and Other End Users). Based on Region, the Ventilator Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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North America to Continue Dominating the Ventilator Market
In 2020, North America dominated with the highest revenue share. The expansion of this segment is due to factors such as a high level of public awareness about the existence of such services. Increased prevalence of chronic obstructive pulmonary disease (COPD) and respiratory illnesses, well-established healthcare infrastructure, and the presence of prominent market competitors in the region are some of the factors driving market expansion.
Key industry contributors include Philips Healthcare (Netherlands), ResMed Inc. (US), Medtronic plc (Ireland), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Drägerwerk AG & CO. KGAA (Germany), Nihon Kohden Corporation (Japan), Getinge AB (Sweden), Asahi Kasei Corporation (Japan), Air Liquide (France), Vyaire Medical, Inc. (US), GE Healthcare (US).
The Ventilator market is segmented as follows:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
By Mobility (Revenue: USD Billion, 2016 - 2028)
- Intensive Care Ventilators
- Portable Ventilators
By Interface (Revenue: USD Billion, 2016 - 2028)
- Invasive Ventilation
- Non-Invasive Ventilation
By End-User (Revenue: USD Billion, 2016 - 2028)
- Home Healthcare
- Other End Users
By Region (Revenue: USD Billion, 2016 - 2028)
- North America
o Rest of Europe
- Asia Pacific
o South Korea
o South East Asia
o Rest of Asia Pacific
- Latin America
o Rest of Latin America
- Middle East & Africa
o GCC Countries
o South Africa
o Rest of Middle East & Africa
Frequently Asked Question
The global Ventilator valued at USD 6.59 Billion in 2020 and is expected to reach USD 9.09 Billion in 2028 growing at a CAGR of 7.1%.
The prominent players in the market are Philips Healthcare (Netherlands), ResMed Inc. (US), Medtronic plc (Ireland), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Drägerwerk AG & CO. KGAA (Germany), Nihon Kohden Corporation (Japan), Getinge AB (Sweden), Asahi Kasei Corporation (Japan), Air Liquide (France), Vyaire Medical, Inc. (US), GE Healthcare (US)..
The market is project to grow at a CAGR of 7.1% between 2021 and 2028.
The driving factors of the Ventilator include
- Rising Prevalence of Respiratory Diseases
North America was the leading regional segment of the Ventilator in 2020.