This Report Provides In-Depth Analysis of the Ventilator Market Report Prepared by P&S Intelligence, Segmented by Interface (Invasive, Non-Invasive), Application (Critical Care, Emergency Care, Home Care, Neonatal Care), Modality (Standard, Portable), Patient Group (Adult, Pediatric & Neonatal), and Geographical Outlook for the Period of 2019 to 2032
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Ventilator Market Future Prospects
The global ventilator market size stands at USD 4.5 billion in 2024, and it will grow at a CAGR of 6.8% during 2025–2032, to reach USD 7.5 billion by 2032. 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.
Ventilator Market Trends and Growth Drivers
Technological Advanced Ventilators Are Trending Worldwide
The COVID-19 pandemic exposed the global healthcare sector for all its carelessness and paucity of resources.
The alarming number of patients has propelled governments, healthcare providers, medical device manufacturers, and pharmaceutical companies to drastically up their investments in R&D.
The gross shortage of hospital beds in 2020 and 2021 and the efforts taken worldwide to reduce transmission also led to a massive rise in the need for home-based care.
This has since then been driving the demand for lightweight and portable ventilators that can be easily used at home.
Moreover, the integration of IoT connectivity in these systems allows patients to be remotely monitored by doctors.
Similarly, for higher effectiveness, ventilators are being equipped with AI and ML, to monitor SpO2 levels and adjust the flowrate accordingly.
Another key trend is non-invasive ventilators, particularly for COPD, sleep apnea, and hypoventilation syndrome.
NIV allows patients to stay awake and talk to the people around them, which has shown to reduce anxiety and help in therapy.
Moreover, by non-invasively ventilating those who are not critical, invasive ventilation can be administered to those in precarious situations.
Rising Prevalence of Respiratory Disease Is Biggest Market Driver
The ventilator market is primarily driven by the increasing incidence of chronic respiratory diseases.
As per the World Health Organization (WHO), more than 260 million people suffer from asthma, and over 450,000 die of it every year.
COPD leads to a mammoth 3.5 million deaths every year. Key causes include pollution, fibrosis due to infection, genetic predisposition, and tobacco smoking.
When patients become incapable of breathing themselves, ventilators are required.
These machines are also required for patients under general anesthesia and those being operated upon.
Another demographic that requires ventilators is babies born prematurely, the number of whom continues to increase.
The WHO estimates over 13 million preterm births each year.
The geriatric population is another prominent user of these machines, as severe respiratory diseases and decreased lung capacity are widely associated with old age.
High Costs and Risk of Infection Could Hamper Market Growth
The key restraint for the ventilator market is the high cost of these systems.
This makes ventilated hospital beds highly expensive, and in case of any problem with reimbursement, patients might not even get one.
Additionally, advanced models with connectivity and AI technologies are costlier than conventional ones, which is why accessibility is limited in emerging economies.
Another concern with them is ventilator-associated pneumonia, which primarily occurs in patients who using these systems for over 48 hours.
As per the National Institutes of Health, up to 40% of the patients ventilated for over 2 days catch ventilator-associated pneumonia.
This can lead to further complications, especially for those already receiving treatment for respiratory conditions.
The invasive category accounts for the larger share, of 70%, in the market in 2024. 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 promotes 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.
The non-invasive bifurcation will have the higher CAGR over the forecast period, due to the rising demand for more convenience. Additionally, several patients associated invasive ventilators with a dead end and fear never coming back. Such apprehensions are now compelling people to seek out non-invasive ventilation, especially since the COVID-19 pandemic, when most people saw someone not surviving despite being invasively ventilated. NIV also reduces the risk of infection as the tube is not stuck all the way down into the trachea. The increasing popularity of home-based care also drives the market growth in this category.
The interfaces analyzed in the report are listed below:
Invasive (Larger Category)
Non-Invasive (Faster-Growing Category)
Insights by Application
The critical care category accounts for the largest market share in 2024. 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 will have the highest CAGR, of 7%. 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.
The report offers insights into the following applications:
Critical Care (Largest Category)
Emergency Care
Home Care (Fastest-Growing Category)
Neonatal Care
Others
Insights by Modality
Standard ventilators account for the largest market share, of 75%, in 2024. 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.
Portable is the faster-growing category due to the expanding demand for higher convenience. Portable ventilation can be easily given to patients in their hospital room or even at home. Additionally, most portable ventilators are noninvasive, which is another reason for their rising popularity. Further, portable systems are majorly used in homecare settings, the preference for which has grown massively since the pandemic.
The segment is bifurcated as below:
Standard (Larger Category)
Portable (Faster-Growing Category)
Insights by Patient Group
The adult group category dominates the market 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.
Pediatric & neonatal is the faster-growing category with a CAGR of 7.5%. This is due to the increasing number of preterm births, which often present with underdeveloped lungs. The key risk factors for preterm births are double, triple, or quadruple pregnancies, less than 6 months between pregnancies, in vitro fertilization, more than one miscarriage, and a previously premature birth.
These patient groups have been studied:
Adult (Larger Category)
Pediatric & Neonatal (Faster-Growing Category)
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Ventilator Market Geographical Outlook
North America accounts for the largest share, of 45%, in 2024 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.
The APAC ventilator market is expected to witness the fastest growth during the forecast period, with 8% CAGR. 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.
The ventilator market is fragmented since a large number of companies produce these devices. The fragmentation worsened during the pandemic when companies that did not earlier manufacture medical devices entered this business to cater to the rising demand. Additionally, ventilators without any advanced technologies are standard devices, presenting relatively low entry barriers to newcomers. Further, their prices vary significantly based on design, functionality, and features. People getting treated at home mainly prefer simpler systems, while full-fledged hospitals are increasingly going for technologically advanced variants.
Major Companies in Ventilator Market:
Flexicare (Group) Limited
GE HealthCare Technologies Inc.
Dr?gerwerk AG & Co. KGaA
Baxter International Inc.
Air Liquide S.A.
Koninklijke Philips N.V.
Getinge AB
Nihon Kohden Corporation
Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
Medtronic plc
Asahi Kasei Corporation
ICU Medical Inc.
Ventilator Market News
In October 2024, GE HealthCare Technologies Inc.’s Hospital Pulse Tile for Command Center software was integrated by Duke Health.
In September 2024, Baxter International Inc. launched The Vest Advanced Pulmonary Experience (APX) System. This airway cleaning system is designed for adults and children with retained secretions and chronic respiratory diseases. Its High Frequency Chest Wall Oscillation (HFCWO) technology remove mucus from chest walls and smaller bronchi and pushes it to larger airways, from where it can be removed via suctioning or coughing.
In July 2023, Drägerwerk AG & Co. KGaA received the FDA’s 510(k) approval for its Babylog VN800, as well as Evita V600 and V800 ventilators
In June 2023, Flexicare (Group) Limited entered into a supply agreement for its respiratory products with Premier Inc.
Frequently Asked Questions About This Report
What is the size of the ventilator market in 2024?+
The market for ventilators values USD 4.5 billion in 2024.
What is the ventilator industry competition scenario?+
The ventilator industry is fragmented.
Which is the largest application area in the ventilator market?+
Critical care application dominates the market for ventilators.
What are the major drivers for the ventilator industry?+
The ventilator industry is propelled by the rising prevalence of lung diseases.
Which is the fastest-growing ventilator market by region?+
APAC has the highest CAGR in the market for ventilators.
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