Market Trends of Global Mechanical Ventilators Industry
This section covers the major market trends shaping the Mechanical Ventilators Market according to our research experts:
Intensive Care Ventilators Segment is Expected to Hold Significant Market Share Over the Forecast Period
Intensive care ventilators deliver ventilatory support to patients who cannot breathe on their own or require assistance to maintain adequate ventilation. Neonates and adults can be ventilated using intensive care ventilators, and they can vary in condition, from very critical, unstable patients to relatively stable postoperative patients.
The intensive care ventilators segment is expected to witness significant growth over the forecast period owing to the factors such as rising technological advancements and the increasing focus of manufacturers on developing them.
The demand for mechanical ventilators increased over the past few months due to the COVID-19 outbreak, increasing the number of ICU admissions worldwide. For instance, according to the World Health Organization (WHO), as of May 2021, there were approximately 154,815,600 confirmed cases of COVID-19, including 3,236,104 fatalities. Globally, the rise in COVID-19 patients necessitating both long- and short-term respiratory support may help to fuel the market's expansion.
In January 2021, Inovytec engaged in a deal to supply 1,500 progressive portable ventilators to Italy, Brazil, and Israel. It entered an agreement with a California-based distributor to supply portable ventilators. The portable ventilators may treat individuals with respiratory conditions both during and after the COVID-19 pandemic.
Additionally, notable developments in the intensive care segment contribute to its prominent share in the market. Products such as Spontaneous Breathing Trial (SBT) are used to assess the patient's ability to breathe while receiving minimal or no ventilator support. Also, Auto TRAK improves the patient experience. Thus, the rising advancement in the products is expected to fuel the market growth over the forecast period.
The market players adopt various strategies, such as product launches, collaborations, and acquisitions, to increase their market share. For instance, in December 2020, CorVent Medical entered an arrangement with Siemens Healthineers for the US distribution of the RESPOND-19 Ventilator to their network of healthcare systems, hospitals, and government customers. The RESPOND-19 Ventilator is part of Siemens Healthineers' contribution of cutting-edge technology by enhancing reliable, critical care respiratory care that increases ventilation capacity during a surge in patient capacities, such as during a flu season or a pandemic.
Portable ventilators are widely used in hospitals due to their convenience and faster and continuous care to patients even before they are on the hospital premises. The rising number of hospitals is also expected to fuel the segment's growth, as they increase the demand for products due to their efficiency and variety of applications. Thus, such factors are expected to drive the market over the forecast period.
North America Dominates the Market, and this Trend is Expected to Continue During the Forecast Period
North America is anticipated to dominate the market over the forecast period owing to the factors such as the increasing prevalence of chronic obstructive pulmonary disease (COPD) and respiratory disorders, the presence of well-established healthcare infrastructure, and the presence of key market players in the region.
As per the Society of Critical Care Medicine, the stock of hospital ventilators in the United States was around 160,000 units in Q1 2020. Also, as per the American Association for Respiratory Care, there were over 8.6 million active COVID-19 cases as of July 2022, and an estimated 960,000 Americans needed mechanical help to breathe during the pandemic. Thus, mechanical ventilators experienced a sudden spike in demand in the United States, during the COVID-19 pandemic (2020) which is expected to boost the market growth over the forecast period. Similarly, according to a report published by the Centers for Disease Control and Prevention (CDC), in March 2020, out of all the hospitalizations caused by COVID-19, over 53% of patients were admitted to the intensive care unit. According to a research study by Silvio A. Ñamendys-Silva et al., published in Critical Care February 2021, in Mexico, about 15.3% of hospitalized patients required invasive mechanical ventilation (IMV), and 70.8% of patients received invasive mechanical ventilation (IMV) outside the ICU. Thus, the increasing patient admission in the intensive care unit due to COVID-19 is expected to increase the demand for ventilators and is expected to augment the market growth over the forecast period.
As per the American Lung Association 2021, chronic obstructive pulmonary disease (COPD) is the third leading cause of death by disease in the United States. More than 16.4 million people have been diagnosed with chronic obstructive pulmonary disease (COPD). Chronic obstructive pulmonary disease (COPD) causes serious long-term disability and early death, and it demands a higher requirement of ventilators, thus generating revenue for the market. Thus, increasing intensive care admissions and the introduction of ventilation modes such as acute non-invasive ventilation, which avoids lung injury, are likely to drive the growth of the mechanical ventilator market, thereby boosting the market in the region over the forecast period.
