Ventilator Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Mobility Type (Intensive Care Ventilators (Basic ICU Ventilators, High High-end ICU Ventilators, Mid-end ICU Ventilators), Transportable Ventilators), By Interface (Invasive Ventilation, Non-invasive Ventilation), By Type (Geriatric, Neonatal, Pediatric), By Mode (Combined Mode Ventilation, Pressure Mode Ventilation, Volume Mode Ventilation, Others), By End-User (Ambulatory Care Centers, Emergency Medical Services (EMS), Home Care, Hospitals and Clinics), And By Geography - Forecasts From 2022 To 2027

The ventilator market size is projected to grow at a CAGR of 4.14% to reach US$2,511.254 million by 2027, from US$3,335.842 million in 2020.  The rise in cases of respiratory emergencies and chronic obstructive pulmonary disease (COPD) are the major factors that are strengthening the growth of the global ventilator market. Further, technological innovations in respiratory care devices are also another major factor that is driving an obvious market expansion, along with the emergence of more patient-friendly, cost-effective, and portable devices that further encourage their usage.  For example in light of the global pandemic that has gripped our planet and whose impact has permeated every aspect of human lives, has led to innovations such as that of Xerox, which in April 2020, scaled up the production of its low-cost, disposable ventilators, which would be a vital stand-in for the hospital-grade ventilators that are now in limited supply.

This comes as a result of its deal with a small medical device manufacturer in California named Vortran Medicalto to scale up production of the Go2Vent, a low-cost resuscitation device typically used during disasters and emergencies for first-aid treatment. Go2Vent has already been approved by the FDA and doesn’t require electricity. Again, in April 2020, Tesla expressed its intention to work on repurposing its large supply of auto parts to develop ventilators, hoping to boost the country’s supply of life-saving breathing equipment without utilizing components from the already strained supply of the same. Furthermore, The Rail Coach Factory (RCF) in Kapurthala is the first public sector undertaking (PSU) that operates under the auspices of the Indian Railways to develop a prototype of a ventilator to be used in the isolation wards or quarantine facilities that the Indian Railways is creating in train coaches across the network.  It’s an original design and is expected to cost almost a fraction of what a regular ventilator costs. Thus, along with government initiatives, the manufacturers of these devices in the APAC region, especially those of emerging markets, are focusing on creating cost-efficient, non-invasive ventilation solutions to cater to local needs and provide flexibility in inpatient care. This can be exemplified by India’s toaster-sized ventilator, manufactured by Noida-based AgVa Healthcare, in a joint venture with Maruti Suzuki India. This device is specifically aimed at CoVid-19 patients and has arrived at the time needed to feel the gaps.

Another reason that is poised to drive the ventilator market growth is the speedy advancement of rising healthcare expenditure coupled with increasing disposable income that is facilitating the ease of access by patients to the various points of care that has led to the rapid adoption of ventilators, especially in the APAC region. In the People's Republic of China, the premium of primary insurance received by the insurance companies was to the tune of 4,264.5 billion yuan in 2019, which was an increase of 12.2 % over that of the previous year. The total sum of the life insurance premium amounted to 2,275.4 billion yuan, the health and casualty insurance premiums of primary insurance were to the tune of 824.1 billion yuan, and the property insurance premium of primary insurance was 1,164.9 billion yuan. Contrarily, the insurance companies paid an indemnity worth 1,289.4 billion yuan, of which, life insurance indemnity was 374.3 billion yuan, health and casualty insurance indemnity 264.9 billion yuan, among others. Therefore, it delineates the fact that there has been room for expenditure pertaining to healthcare. Furthermore, the per capita disposable income nationwide was 30,733 yuan, an increase of 8.9 % compared to that of the preceding year. Furthermore, by the end of 2019, there were around 1,014,000 medical and health institutions in China, including 34,000 hospitals.  Of the 17,000 professional public health institutions, 3,456 were disease control and prevention centers and 3,106 were health monitoring institutions. Further, the total number of medical visits and hospital discharges in 2019 reached 8.52 billion and 270 million, respectively.

Further, with regard to Singapore, the total number of beds in all types of acute hospitals ( public, not-for-profit, and private) has increased from the preceding year until 2918, suggesting that the incidence of inpatient care has increased. Moreover, the number of hospital admission has increased with regard to acute hospitals, as delineated by the illustration below. Therefore, it can be stated with certitude that due to such an increased rate of hospitalization, there is a requirement for ample room for healthcare instrument innovation and upscaling, as exemplified by the U.S. market leader in precision medical products and services Nihon Kohden, which announced in November 2019 the launch of the NKV-550 Series Ventilator System that offers a full suite of applications necessary in a critical care setting for patients ranging from neonates through adults.

Moreover, looking towards the occident, the Dutch multinational technology company Royal Philips has received CE mark approval for its Philips V60 Plus Ventilator. This solution is developed on its noninvasive ventilation (NIV) gold standard platform, integrating NIV and high flow therapy (HFT) into a single device. The device aids clinicians in swiftly adjusting therapies according to the condition of patients without switching devices.

Key Developments in the Market

• In January 2022, OES Medical, a UK-based anaesthesia equipment developer, collaborated with ABHI UK Pavillion at Arab Health to introduce a new ICU ventilator in the region. The firm's new ventilator, Gemini G100, is an electrically powered piston-based ICU ventilator with a built-in oxygen concentrator for intensive care of patients. The new offering reduces the hospitals' reliance on Oxygen deliveries even when the demand is at its peak. 
• In October 2021, a respiratory therapy solutions provider, Movair, launched an advanced ventilator for use in homes, hospitals, institutions, or portable applications for both non-invasive and invasive applications. The new device, Luisa, was commercially launched in US. and also has high-flow oxygen therapy. 
• In July 2021, Mindray, a leading advanced medical devices provider, hosted a virtual launch event, introducing a new turbine-based ventilator, SV300 Pro. Featuring new sophisticated and advanced functions, the compact device is capable of addressing several complex clinical challenges. 

COVID-19 Insights:

COVID-19 had a positive impact on the global ventilator market. The surge in active cases and the rapid spread of the pandemic increased the demand for ventilation devices in hospitals. Amid such a scenario, many companies ramped up the production and development of ventilator devices to meet the unprecedented demand. Furthermore, the increased prevalence of other respiratory complications associated with the pandemic further increased the demand for portable ventilators in hospitals and at home. 

Ventilator Market Scope:

Segmentation

• By Mobility Type
  • Intensive Care Ventilators
    • Basic ICU Ventilators
    • High High-end ICU Ventilators
    • Mid-end ICU Ventilators
  • Transportable Ventilators
• By Interface
  • Invasive Ventilation
  • Non-invasive Ventilation
• By Type
  • Geriatric
  • Neonatal
  • Paediatric
• By Mode
  • Combined Mode Ventilation
  • Pressure Mode Ventilation
  • Volume Mode Ventilation
  • Others
• By End User
  • Ambulatory Care Centers
  • Emergency Medical Services (EMS)
  • Home Care
  • Hospitals and Clinics
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Others
  • The Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Others

Air Liquide

Allied Healthcare Products

Drägerwerk AG & Co. KGaA

Fisher & Paykel Healthcare Limited.

General Electric Company

Getinge AB

Hamilton Medical

Koninklijke Philips N.V.

Medtronic

ResMed

SCHILLER

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

SLE

Smiths Group plc

VYAIRE

Zoll Medical