Ventilator Market Size and Share Forecast Report by Interface (Invasive, Non-Invasive), Patient Group (Adult, Pediatric & Neonatal), Application (Critical Care, Emergency Care, Home Care, Neonatal Care), Mobility (Standard, Portable) - Global Industry Demand Forecast to 2030

Market Overview

The global ventilator market size stood at $1,560.30 million in 2021, and it will grow at a CAGR of 7.1% during 2021–2030, to reach $2,887.32 million by 2030. This is ascribed to the rising cases of chronic diseases like chronic obstructive pulmonary disease (COPD) and asthma across the globe. Moreover, the market is expected to develop over the projected period, as a result of the increasing number of preterm births, growing geriatric population, rising prevalence of respiratory disorders, increasing count of intensive care unit (ICU) beds, and surging number of COVID-19 patients.

Ventilators, often known as mechanical invasive ventilators, are breathing aids used in healthcare facilities, such as hospitals (ICUs and emergency rooms), nursing homes, long-term care institutions, and private residences. Individuals with respiratory failure, a major consequence experienced by certain patients in severe cases of COVID-19, can benefit greatly from the use of ventilators. Also, their advantages, including improved weaning, better oxygenation, and less damage to the lungs, will propel the market revenue.

In addition, the market for ventilators has changed dramatically over time, as a result of technological developments, such as the creation of sophisticated portable ventilators, and innovations in ventilator sensor technologies. Furthermore, the rise in demand for home healthcare services offers new opportunities to industry players. The demand for home healthcare ventilators is expanding, due to their low costs and convenience in homecare settings.

Invasive Ventilator Holds the Largest Revenue Share

The invasive ventilator category accounted for the largest share, of more than 60%, in the market in 2021. This is attributed to the surging number of ICU beds equipped with ventilators, the rising prevalence of respiratory illnesses, and the increasing number of surgical procedures. Also, there is a rise in the number of hospital admissions, majorly due to COVID-19. Invasive ventilators are the prime components in ICUs and emergency rooms to treat ill patients. Additionally, these devices make it easier for patients to breathe, and are essential for providing emergency medical services and guaranteeing patients' quick recoveries.

The development of portable, affordable, and patient-friendly technologies promote the use of transport and portable ventilators even more, in homecare and ambulatory centers. Also, the demand for point-of-care therapies is expanding and the number of medical emergencies is rising, which are important drivers of the market in this category. Moreover, in order to give patients with convenient and expedient care from an ambulance to the hospital bed, hospitals are advocating the use of portable ventilators. Further, patients are encouraged to choose portable ventilators in homecare settings, which raises awareness of the practice.

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North America Leads the Market

North America accounted for the largest share, of more than 30%, in 2021 in the ventilator market. This is majorly due to the rising prevalence of respiratory disorders like asthma and bronchitis. As per recent data, COPD is the biggest threat to the health of people in the region. Also, due to the developed healthcare infrastructure in the U.S. and Canada, improved ventilator systems are being used more frequently in North America. For instance, according to information made available to the Commission, there were 77,000 ventilators in American hospitals as of March 2020 and more than 8,000 ventilators in American nursing homes.

In the region, the U.S. garners a higher market share, due to the technological advances in ventilators, the launch of various advanced products, and the presence of a large number of ICU beds in the country. Moreover, the need for ventilators is being driven by the expanding patient population, the rising demand for emergency medical services, the increasing use of ventilators for the treatment of neurological and respiratory illnesses, the expansion of the healthcare infrastructure, and the patient desire for individualized medical care, in the country.

Europe is the second-largest market for ventilators. This is majorly due to the rising technological innovations by major manufacturers, the increasing prevalence of chronic and respiratory diseases, and the growing geriatric population who are more susceptible to the disorders.

On the other hand, the APAC ventilator market is expected to witness the fastest growth during the forecast period. The development of affordable, patient-friendly, and portable ventilators encourages the use of these systems in the region. Additionally, supporting government initiatives and the presence of manufacturers and assemblers in developing nations like China and India are leading to the development of non-invasive and affordable ventilator solutions, to meet local needs and improve patient care.

Critical Care Holds the Largest Market Share

The critical care category accounted for the largest market share in 2021. This is ascribed to the COVID-19 virus, which has affected a large number of people across the globe. This leads to the huge requirement for critical care, due to a large number of hospitalizations.

Smoking is the major cause of COPD. There is a large number of tobacco users living in low- or middle-income countries. According to the CDC, cigarette smoking continues to be the major cause of illness, disability, and death in the U.S., and it is responsible for more than 480,000 fatalities each year. Thus, the requirement for critical care rises, which, in turn, drives the demand for ventilators for critical care.

Emergency care is the second-largest market shareholder. This is majorly attributed to the disorders related to lifestyle. Moreover, an increase in the target patient population is seen globally, as a result of longer workdays, unhealthy eating patterns, sedentary jobs, addictions to bad habits, and an increasing number of accidents. Thus, these factors drive the demand for ventilators for emergency care.

Homecare accounts for the third-largest market share. This is due to the rise in the number of COVID patients across the world. In order to handle the patients, homecare facilities gained traction, which is cost-effective and can treat patients in case of emergencies.

Standard Ventilators Garner the Largest Share

Standard ventilators accounted for the largest market share, of more than 65%, in 2021. The expansion in hospitals and healthcare facilities and the effectiveness of standard ventilators in a range of applications in various care delivery settings are projected to have a favorable effect on the market growth in this category.

Adult Group Contributes Majority of Revenue

The adult group category dominates the market. This is because adults are more prone to diseases like COPD, asthma, and respiratory diseases. Moreover, the rising number of smokers and the increasing geriatric population are deriving the market growth in this category.

Key Players in the Ventilator Market Are:

• Allied Healthcare Products Inc.
• Bio-Medical Electronics Co. Ltd.
• ResMed Inc.
• GE Healthcare
• Metran Co. Ltd.
• Hill-Rom Holdings Inc.
• Air Liquide S.A.

Market Size Breakdown by Segment

The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.

Based on Interface

• Invasive
• Non-Invasive

Based on Patient Group

• Adult
• Pediatric & Neonatal

Based on Application

• Critical care
• Emergency care
• Home care
• Neonatal care

Based on Mobility

• Standard
• Portable

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Spain
  • Italy
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • South Africa
  • Saudi Arabia