Mechanical Ventilator Market size is expected to reach USD 4.22 billion by 2030

 Mechanical Ventilator Industry Overview

The global mechanical ventilator market size was valued at USD 5.79 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030. The unprecedented dawn of COVID-19 boosted the demand for mechanical ventilators by leaps and bounds in 2020. The intuitive measures adopted by the government and the manufacturers to curb the initial unpreparedness for the pandemic resulted in the inflow of mechanical ventilators at the expedited rate.

 

However, owing to the development of the Covid-19 vaccine in 2021, coupled with effective therapeutic options to treat mild to moderate symptoms of the infection, the growth has been stabilized. In addition, there is an expected decrease in the infection rate of coronavirus due to high awareness amongst the population and adherence to physical distancing measures. To restrict the spread of the pandemic, governments in various countries have implemented strict measures including social distancing.

 

Gather more insights about the market drivers, restrains and growth of the Global Mechanical Ventilator Market

 

In a welcome move, the U.S. FDA temporarily waived its enforcement and inspection requirements, which would be helpful for cross-industry manufacturers to fabricate much-needed components for ventilators and other critical care equipment. Supportive and timely regulatory policies by the government are anticipated to provide a growth platform for this market in the coming financial year, thereby affecting the growth rate over the forecast years.

 

A rise in the incidence of Chronic Obstructive Pulmonary Disease (COPD), rapid growth in the elderly population, and technological innovation are major factors likely to drive the market over the forecast period. The evolution of patient-friendly, cost-effective, and portable devices can further encourage their usage. For instance, in April 2020, InnAccel Technologies announced the introduction of a non-invasive ventilation system intended for use in ICU with COVID-19 patients.

 

COPD and asthma are the most prevalent respiratory conditions across the world. According to the WHO, COPD is the third leading cause of death globally, causing 3.23 million deaths in 2019. In November 2020, Philips introduced Ventilator BiPAP A40 Expiratory Flow Limitation (EFL), a noninvasive ventilator for COPD patients. With this, clinicians can detect EFL in hypercapnic COPD patients at the point of care, ensuring the delivery of optimal homecare therapy. Increased demand for home healthcare is anticipated to have a favorable impact on the demand for home care ventilators in the coming years.

 

Browse through Grand View Research's Medical Devices Industry Research Reports

  • Biopsy Devices Market: The global biopsy devices market size was valued at USD 2.11 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2023 to 2030.
  • Nasal Drug Delivery Technology Market: The global nasal drug delivery technology market was valued at USD 71.89 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.45% from 2023 to 2030. 

 

Mechanical Ventilator Market Segmentation

Grand View Research has segmented the global mechanical ventilator market based on product, ventilation mode, end-use, and region:

Mechanical Ventilator Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Critical Care
  • Neonatal
  • Transport & Portable
  • Others

Mechanical Ventilator Ventilation Mode Outlook (Revenue, USD Million, 2017 - 2030)

  • Invasive
  • Non-invasive

Mechanical Ventilator End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Hospitals
  • Home Healthcare
  • Others

Mechanical Ventilator Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

Market Share Insights

  • April 2021: Drägerwerk AG & Co. KGaA has acquired the majority share of STIMIT AG. With this purchase, the company further increases its proficiency in the lung-protective ventilation field.
  • August 2020: Spicejet introduced Spiceoxy, a portable, non-invasive ventilation device. The increasing awareness amongst the end users is projected to boost the demand over the forecast period.

 

Key Companies Profile

Some prominent players in the global mechanical ventilator market include:

  • Medtronic
  • Abbott
  • Boston Scientific Corporation
  • BIOTRONIK SE & Co. KG
  • MicroPort Scientific Corporation
  • Koninklijke Philips N.V.
  • Stryker
  • ZOLL Medical Corporation (Asahi Kasei)
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
  • Nihon Kohden Corporation
  • Schiller AG
  • ResMed
  • Fisher & Paykel Healthcare Limited

 

Order a free sample PDF of Mechanical Ventilator Market Intelligence Study, published by Grand View Research.

 

 

Comments

Post a Comment

Popular posts from this blog

Global Potash Market: Trends, Growth & Forecast 2023-2032

T he global  potash market  size is expected to reach USD 93.50 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032, according to a new study by Grand View Research, Inc. This is attributed to the increasing demand for food and efficient usage of agricultural land. As consumers seek healthier options, there has been a surge in demand for high-value crops like fruits, vegetables, and specialty crops, boosting the demand for potash. Furthermore, the adoption of precision agriculture techniques has become increasingly prevalent in recent years. Precision agriculture involves using advanced technologies and data-driven approaches, such as soil testing and targeted nutrient management, to make informed decisions about fertilizer application.   Farmers are embracing precise and site-specific methods for applying fertilizers, based on field variability and crop requirements. This trend makes way for optimized resource utilization, improved crop performance, and enhanced...
Read more

Smart Ticketing Market Report: Emerging Technologies & Market Opportunities

  The global smart ticketing market size is expected to reach USD 31.65 billion by 2030, growing at a CAGR of 15.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. With the widespread adoption of smartphones, mobile ticketing channels have gained traction, allowing users to purchase, store, and validate tickets directly on their mobile devices, eliminating the need for physical cards or paper tickets. The convenience and ease of use offered by mobile ticketing have contributed to the growth of the market. Smart ticketing systems generate vast amounts of data on passenger journeys, travel patterns, and ticket usage.   Operators leverage this data to gain valuable insights, optimize operations, and improve the overall passenger experience. Data analytics techniques, such as predictive modeling and real-time monitoring, are being applied to enhance efficiency, manage capacity, and offer personalized services, which bode well for smart ticketing...
Read more

Boosting Crop Yields: India Foliar Fertilizer Market Trends & Forecasts

  The  India foliar fertilizer market  size is expected to reach USD 4.9 billion by 2030, expanding at a CAGR of 11.3% during the forecast period, as per a new report by Grand View Research, Inc. The industry growth is majorly driven by surged demand for food due to increasing population coupled with supportive government initiatives and decreasing arable land in the country.   There has been a significant increase in the global prices of fertilizers and foliar fertilizers. As such, farmers falling into small- and marginal-income categories cannot afford to buy fertilizers resulting in reduced agricultural yields. This has led the Government of India to take initiatives to provide fertilizer subsidies to farmers in the country to make them affordable at subsidized prices. For instance, the Government of India announced a subsidy scheme related to fertilizers worth USD 27 billion in 2022 to ensure that fertilizers are affordable for every farmer in the country. Thus, ...
Read more