Global Mechanical Ventilators Industry Landscape Report 2021-2026 – Critical Care Ventilators Expected to Hold Major Share, North America Dominates Industry – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD) – The report “Mechanical Ventilators Market – Growth, Trends, COVID-19 Impact and Forecast (2021-2026)” has been added to ResearchAndMarkets.com offer.
The global mechanical ventilators market was valued at USD 6,490 million in 2020 and is expected to reach USD 9,695 million by 2026, registering a CAGR of 7.5% during the period.
The impact of the COVID-19 pandemic on the mechanical ventilator market is positive as it has increased the use of mechanical ventilators in disease management. For example, according to a study by Yang Wang et al., Published in the American Journal of Respiratory and Critical Care Medicine in February 2020, in China, 23 (65.7%) patients received invasive ventilation. A total of 134 (40.6%) patients were treated with mechanical ventilation (either non-invasive or invasive). Of these, 34 received non-invasive ventilation therapy, while invasive ventilation was administered to 100 patients.
Additionally, according to the above source, the median time from admission to invasive ventilation was five days and the median time to invasive ventilation was four days. This indicates that there was a high demand for mechanical ventilators during the COVID-19 pandemic in 2020.
Globally, increasing geriatric population coupled with higher incidence of chronic diseases such as chronic obstructive pulmonary disease (COPD) is driving the market growth. For example, according to the Global Asthma Report, in 2018, around the world, chronic respiratory diseases affect more than a billion people. Additionally, asthma is a major contributor to this figure, affecting children, adults and the elderly. The prevalence of severe asthma is high in the emerging markets of MEA and Latin America, compared to the average prevalence in North America, Europe and Asia-Pacific.
Additionally, recently, the COVID-19 outbreak has increased demand for breathing apparatus, such as ventilators. For example, in March 2020, Zoll Medical Corporation executed a plan to increase manufacturing capacity to 10,000 ventilators per month. This expansion in production volume has contributed to the treatment of patients suffering from COVID-19 and may ultimately lead to market expansion.
Additionally, in March 2020, Koninklijke Philips NV established its production site in the United States to meet the growing demand for ventilators during the COVID-19 pandemic.
In August 2019, Smiths Medical, a manufacturer of medical devices, entered into a partnership with Medline Industries for the distribution of its portex devices. The partnership could focus on non-acute home care channels and expand their respiratory division market globally. Thus, the above-mentioned factors are expected to drive the market growth during the forecast period.
Key market trends
Critical care ventilators are expected to hold a significant share
North America dominates the industry
The mechanical ventilation market is moderately competitive. Some of the key players are manufacturing and launching new products, while others are distributing the ventilators, which is fueling the growth of the market. Some of the market players include Getinge AB, Medtronic PLC, Smiths Medical, Koninklijke Philips NV, and ResMed Inc., among others.
Key topics covered
1.1 Hypotheses of the study and market definition
1.2 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market overview
4.2 Market drivers
4.2.1 Increased prevalence of chronic obstructive pulmonary disease (COPD) and respiratory disorders
4.2.2 Increase in the world population, increase in the number of health centers and hospitals with increasing demand for minimally invasive procedures
4.3 Market restrictions
4.3.1 Very expensive materials and processes involved in manufacturing ventilators and higher cost of healthcare systems
4.3.2 Increasing incidences of ventilator-assisted pneumonia
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By mobility
5.1.1 Intensive care ventilators
5.1.2 Portable fans
5.2 By interface
5.2.1 Invasive ventilation
5.2.2 Non-invasive ventilation
5.3 By the end user
5.3.2 Home care
5.3.3 Other end users
5.4 By geography
5.4.1 North America
5.4.4 Middle East and Africa
5.4.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company profiles
6.1.1 Getinge AB
6.1.2 Medtronic API
6.1.3 Koninklijke Philips SA
6.1.4 Smith Medical
6.1.5 ResMed inc.
6.1.6 Dragerwerk AG & Co. KGaA
6.1.7 GE Healthcare
6.1.8 Mindray Medical International Limited
6.1.9 Nihon Kohden Company
6.1.10 Vyaire Médical inc.
6.1.11 Zoll Medical Society
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/v92o0c