Mechanical Ventilator Industry Overview
The global mechanical ventilator market size is expected to reach USD 4.22 billion by 2030, according to a new report by Grand View Research Inc. It is expected to expand at a CAGR of 4.8% from 2022 to 2030. The unprecedented dawn of COVID19, increasing incidence of chronic obstructive pulmonary disease (COPD), rising incidence of respiratory emergencies, and technological innovation in respiratory care devices are the major factors driving the market for mechanical ventilators.
Mechanical Ventilator Market Segmentation
Grand View Research has segmented the global mechanical ventilator market based on product, ventilation mode, end-use, and region:
Based on the Product Insights, the market is segmented into Critical Care, Neonatal, Transport & Portable and Others.
- Critical care ventilators dominated the market with a share of over 35.0% in 2021 due to the high adoption and installation rate in hospitals.
- A positive impact on revenue growth is expected, with an increase in the number of hospitals and healthcare facilities.
- Transport and portable mechanical ventilators are expected to witness the fastest growth during the forecast period owing to their efficiency in a variety of applications in different care delivery settings.
Based on the Ventilation Mode Insights, the market is segmented into Invasive and Non-invasive.
- The non-invasive ventilation mode emerged as the largest segment and accounted for over 55.0% share in 2021. The segment is also likely to witness the fastest growth during the forecast period.
- Extensive R&D investments in the healthcare sector and growing per capita income further boost the overall market growth.
Based on the End-use Insights, the market is segmented into Hospitals, Home Healthcare and Others.
- The hospitals segment dominated in 2021 with a revenue share of over 45.0%. This is owing to growing hospitals’ expenditure that allows the acceptance of technologically advanced ventilators.
- The home healthcare segment is expected to witness the fastest growth during the forecast period. An increasing number of government initiatives aimed at curbing healthcare expenditures by promoting home healthcare support the market growth.
Mechanical Ventilator Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Manufacturers are bracing up to multiply the production capacity to meet the globally rising demand to overcome the COVID-19 disease outbreak. The market is moving towards saturation as various manufacturers have sped up their production capacities to meet the existing demand and there will be ample availability of ventilators post covid-19 situation.
Some prominent players in the Mechanical Ventilator market include
- Getinge AB
- Medtronic
- Vyaire Medical Inc.
- Drägerwerk AG & Co. KGaA
- Koninklijke Philips N.V.
- Hamilton Medical
- GE Healthcare
- Smiths Medical
- ZOLL Medical Corporation
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Order a free sample PDF of the Mechanical Ventilator Market Intelligence Study, published by Grand View Research.
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