The global ventilator market size is expected to reach USD 3.70 Billion in 2030 and register a revenue CAGR of 7.8% during the forecast period. Some major factors driving steady market revenue growth include rising prevalence of chronic diseases, increasing number of elderly individuals requiring treatment, surgeries, oxygen support, and care, high number of cases of respiratory diseases and disorders, Chronic Obstructive Pulmonary Disease (COPD), and asthma. The number of individuals admitted to Intensive Care Units (ICUs) annually as a result of chronic illnesses and diseases, accidents, respiratory diseases and disorders, surgery, coma, stroke, heart disease, and various others is substantially high.
Supplemental oxygen is a well-established therapy with clear evidence for benefit in patients with COPD and severe resting hypoxemia, which is defined as a room air Pao2 ≤ 55 mm Hg or ≤ 59 mm Hg with signs of right-sided heart strain or polycythemia. Supplemental Long-Term Oxygen Therapy (LTOT) is widely used by patients with COPD. Also, over 1 million Medicare recipients are using oxygen at an annual cost of exceeding USD 2 billion.
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Statistics indicate that annually, around 20 million individuals are admitted to ICUs and placed on Mechanical Ventilation (MV). Survival rate of patients placed on partial or complete dependence on MV can be extended, and this rate has improved in the recent past. Advancements in the management of such patients has also improved their short-term survival and the patient pool with partial or complete dependence on MV continues to expand. According to statistics, prevalence of Ventilator Assisted Individuals (VAIs) ranges from 6.6 to 23 per 100,000. In addition, technological advancements in newer ventilator devices and systems is another key factor expected to support revenue growth of the market going ahead.
The COVID-19 outbreak and increasing threat of subsequent waves due to emergence of variants and preparedness and measures for such eventualities is driving demand for ventilators in the healthcare sector worldwide. Also, individuals who were severely affected by COVID-19 may develop Acute Respiratory Distress Syndrome (ARDS), and demand for mobile or home ventilators is expected to continue to rise in the near future as more such individuals develop breathing difficulty or respiratory disorders and require supplemental oxygen. In addition, an increasing number of patients and individuals with need for oxygen support are preferring home care over hospital-based care post the pandemic. This trend has been gaining traction and is expected to continue in future. Ventilators are also used to provide breathing support to premature and ill babies.
Market Dynamics:
Driver: High COPD and ARDS prevalence and regulatory approvals
Advancements in technology, innovations, regulatory approvals, and allocation of funds by government and private entities have made it currently viable to support ventilator-dependent patients outside of hospitals. As a result, patients with chronic ventilator dependence, both children and adults, can currently live at home and receive the necessary care and support. Availability of portable or mobile ventilators has also made it more feasible for patients requiring ventilator support to stay home and avail other medical-related services in home care settings.
Ventilators are essential for individuals with any type of chronic respiratory disease such as COPD, which is a chronic inflammatory lung disease that causes obstructed airflow from the lungs. Smoking is the cause of between 85% and 90% of COPD cases, and female smokers are around 13 times as likely to die from COPD as opposed to women who have never smoked. Male smokers are around 12 times as likely to die from COPD as men who have never smoked. Prolonged exposure to polluted air is another major risk factor for COPD. In addition, incidence and deaths caused by ARDS has been increasing in the recent past. ARDS can occur in critically ill individuals or those who have sustained significant injuries. ARDS is often fatal, and risk increases with age and severity of illness. The National Center for Biotechnology Information (NCBI) estimates ARDS in the U.S. to range from 64.2 to 78.9 cases/100,000 person-years. Around 25% of ARDS cases are classified as mild initially and 75% as moderate or severe. Of these however, a third of mild cases could progress to moderate or severe. Patients with ARDS experience severe shortness of breath and are often incapable of breathing on their own and are highly dependent on ventilator support, along with fluid management and medication.
Road accidents and sports injuries as well as mishaps during adventure sports contribute significantly to size of patient pool requiring ventilator support. Injuries as a result include brain injury, collapsed lung, coma or loss of consciousness, and upper spinal cord injuries. According to the World Health Organization (WHO), each year approximately 1.3 million individuals die as a result of road traffic crashes. Also, between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of injuries.
Need for ventilators is also driven by rising incidence of cardiac arrest, pneumonia, drug overdose, and other causes to slip into unconsciousness and non-response. Individuals who have suffered a cardiac arrest and remain unconscious thereafter require intubation and ventilation with a breathing machine. According to the American Heart Association Heart and Stroke Statistics – 2022 Update, cardiac arrest continues to remain a public health crisis. Going by the report, over 356,000 Out-Of-Hospital Cardiac Arrests (OHCA) occur annually in the U.S., and nearly 90% of them fatal. Incidence of Emergency Medical Services- or EMS-assessed non-traumatic OHCA in individuals of any age is estimated to be 356,461, or around 1,000 persons each day. Furthermore, need for ventilators for patients with other diseases, injuries, and undergoing surgeries and treatment is expected to continue to support revenue growth of the market over the forecast period.
In addition, availability of cost-efficient solutions, funding from government and private entities, and assistance and aid from Non-Governmental Organizations (NGOs) to ensure accessibility to critical care for underprivileged sections of society are other key factors expected to support market revenue growth. In mid-2021 for instance, Philips Foundation, Prosus, Johnson Foundation, and the Johnson & Johnson Family of Companies joined forces to provide over 800 ventilators to public hospitals in India for deployment in regions that were most impacted by COVID-19. Philips India announced that it would provide the requisite training, installation, and service support to ensure quick and effectively deployment.
In addition, a majority of COPD patients require short-term oxygen therapy, which is occasionally administered when a patient returns home after hospitalization for a COPD exacerbation, especially if oxygen therapy enables the patient to be safely discharged sooner. Supplemental oxygen is known to improve sleep, mood, mental alertness, and stamina, and helps the person to perform some regular, everyday tasks. Shifting preference for home-based oxygen therapy among some COPD patients who may be reluctant to stay at hospital post the pandemic is expected to restrain use of ventilators to some extent.
Home care has been the standard for COPD patients over the past. The procedure includes verifying a patient’s suitability for home oxygen, deciding the appropriate prescription, supplying the necessary equipment, and instructing caretakers about procedures to be followed. However, supplemental oxygen offers a number of advantages in addition to preventing heart failure in those with severe respiratory illnesses such as COPD. Patients who utilize oxygen for more than 15 hours a day have been proven in some studies to have a higher survival rate and also participate in some activities and do some personal tasks. Advancements in ventilators and systems is also expected to result in more individuals opting for home care, and this is expected to contribute to revenue growth to a significant extent.
Restraint: High costs, unfavorable reimbursement, availability of refurbished units
The median total cost of an admission for a respiratory condition requiring 96 hours or more of ventilation is around USD 88,114 dollars and USD 34,225 for an admission requiring less than 96 hours of ventilation. Long-term MV for a patient is relatively costly, and lack of healthcare cover or insurance among some patients, and in some countries, can increase the burden on hospitals. This could also be due to lack of proper acceptance of Medicare, Medicaid, managed-care contracts, and fully insured patients. Some payers may not provide cover to acute care hospitals for chronic ventilator units which may obtain waivered status from the Prospective Payment System (PPS) and be paid at a per diem rate based on their expenditures if they are independently formed, accredited, and staffed. This could also result in many such establishments opting against deploying ventilators on premise.
In addition, availability of refurbished and used ventilators is a major factor expected to have a negative impact on market revenue growth. High cost of new and advanced ventilators is a factor for hospitals in some developing countries preferring significantly lower-costing refurbished or used ventilators. Also, around 200,000 ventilators were manufactured when production was ramped-up to bridge the vast supply-demand gap during the pandemic peak and after. Now however, there is a major shortage of trained personnel and specialists to operate the equipment, some of which are more complex and require additional training to be operated efficiently.These factors are also expected to have a negative impact on the market over the forecast period.
Moreover, some companies in countries in Africa and South America are exploring potential of manufacturing ventilators based on relatively simple designs, and do this quickly and cost-efficiently using already available hardware and infrastructure. Also, owing to lack of intellectual property rights of such projects and no licensing or copyright issues, other small-scale entrepreneurs could also embark on such projects. Shortage in supply of ventilators and high cost of units is a major barrier to procure and deploy in some developing and many underdeveloped economies. Various innovations by doctors, engineers, and engineering companies in India were born out of necessity. When there was a severe crunch, electronic and vehicle manufacturing companies had been roped in to manufacture ventilators quickly and at low cost. Various engineering institutes have also been working on design and manufacture low cost and simplified versions of more advanced ventilators. These are some key factors that could also hamper demand for high-cost units in low and underdeveloped economies.
The advent of newer procedures and less costly and painful procedures to provide relief from breathlessness and respiratory discomfort is expected to have a negative impact on market growth. Bronchoscopic Lung Volume Reduction (BLVR) is a minimally invasive alternative to traditional lung volume reduction surgery to treat severe emphysema. In BLVR, interventional pulmonologists place small, one-way valves in the airways in the hyperinflated emphysematous sections of the lungs. The valves prevent air from entering the diseased areas, but allow trapped air and secretions to escape.
Furthermore, shortage of these systems and units resulted in exploration and focus into approaches, vaccines, drugs, and techniques that would safely alleviate need for medical ventilation. For instance, according to results published by the Canadian Medical Association Journal (CMAJ), a trial involving 52 Canadian hospitals between 14 August 2020 and 1 April 2021 indicated the use of the antiviral Remdesivir could reduce the need for medical ventilation by around 50% in patients hospitalized with Covid-19, as against standard treatment. This could result in reduced need for ventilator support for COVID-19 patients going ahead, and particularly in the event of full ICU capacity, limited availability of mechanical ventilation or oxygen supply. This could hamper market revenue growth in the long term.
COVID-19 Analysis:
The COVID-19 virus sparked a global surge in demand for ventilators. Global supply chain and networks were burdened and unable to deliver components, equipment, medical supplies, and life-saving products at a pace that could essentially save lives. During the peak of the COVID-19 pandemic, critical shortage of ventilators resulted in a number of deaths of individuals who were infected and urgently needed ventilator support or intubation. Shortage of ventilators as well as bottled oxygen was a major challenge that the global healthcare sector faced. The United States Food and Drug Administration (FDA) also issued an ‘umbrella’ Emergency Use Authorization (EUA) that authorizes the emergency use of certain ventilators, anesthesia gas machines modified for use as ventilators, and positive pressure breathing devices modified for use as ventilators (collectively referred to as ‘ventilators’), ventilator tubing connectors, and ventilator accessories (EUA Letter of Authorization). With regard to CBK (continuous ventilator, facility use), manufacturers of modified ventilators within the scope of the enforcement policy were required to continue to comply with applicable Quality System Regulation (QSR) requirements and no flexibility was allowed or approval given for such products. During the peak of the pandemic, the FDA had outlined its enforcement policy in the IIE Guidance and continues to add ventilators to the ‘umbrella’ Emergency Use Authorization (EUA) to rapidly expand availability of certain ventilators and accessories that are not approved, cleared, or market-authorized under sections 510(k), 513(f)(2), and 515 of the Federal Food, Drug, and Cosmetic Act (FD&C Act). The FDA or NOU (Continuous ventilator, home use),
Although some ventilator manufacturers increased output by 30% to 50%, supply was still short as the number of patients continued to increase rapidly. China continues to strive to contain outbreaks in a number of pockets in the country and is working toward producing numerous multifunction ventilators as demand for oxygen support and related equipment increases. The government in the country has opened up industrial activities and operations as part of broader efforts to encourage a move back to normalcy and stabilize economic progress, while also combatting spread of the virus.
Product Insights:
Based on product, the global ventilator market is segmented into critical care ventilator, neonatal, transport, and portable ventilator. The critical care segment accounted for largest revenue share in 2021. Critical care ventilators are commonly deployed in ICUs and increase in the number of hospitals and healthcare centers is expected to have a significantly positive impact on revenue growth of the hospital segment. Demand for mobile or portable mechanical ventilators is expected to increase owing to usage in ambulatory care and emergency care settings. Increasing road accident rates and non-fatal, but serious injuries, and rising rate of cardiac arrests and respiratory disorders and need for hospital admissions and ventilator support are other key factors expected to support revenue growth of this segment.
The neonatal segment is expected to register a steady revenue growth rate over the forecast period. Survival rates of neonates with respiratory failure can be improved significantly by using ventilation systems, and this may also save lives. Mechanical ventilations are designed and calibrated to enable appropriate gas exchange, adequate oxygenation, and sufficient ventilation for release of CO2. The potential to quantify and administer minute flows and tidal volumes has enabled development of relatively complex techniques for assisted mechanical ventilation, such as volume targeted ventilation for premature babies, which is increasingly being deployed across a number of hospitals.
Interface Insights:
Based on interface, the global ventilator market is segmented into invasive ventilation and non-invasive ventilation. Invasive ventilation segment accounted for largest revenue share in 2021 owing to the COVID-19 pandemic and a significant number of elderly patients getting infected and requiring hospitalization due to comorbidities and various underlying health conditions. Invasive Mechanical Ventilation (IMV) is a life-saving technique that is frequently employed in the treatment of hospitalized patients in ICUs. The number of individuals requiring mechanical ventilation is continuing to increase due to a variety of variables, including aging population and rising prevalence of age-related diseases and need for treatment and surgeries.
The Non-Invasive Ventilation (NIV) segment is expected to register a rapid revenue CAGR over the forecast period. Patients with acute hypercapnic ventilatory failure, particularly acute exacerbation of COPD are put on NIV. In addition, NIV is used in almost one-third of COPD patients considered to have a poor life expectancy. NIV is also used for the mentioned patient groups due to a significant reduction in the requirement for endotracheal intubation, lower complication rate, shorter hospital stay, and lower hospital mortality rate. Patients with asphyxia types of acute cardiogenic respiratory distress are also benefited from similar advantages. The efficacy of NIV is more varied in patients with predominantly hypoxemic types of respiratory failure; although considerable advantages have also been observed in selected populations with no contraindications such as multiple organ failure, loss of consciousness, or hemodynamic instability. Early administration of non-invasive ventilation during the course of respiratory failure is seen as a key component of favorable outcomes. Many difficulties associated with mechanical breathing, particularly incidence of nosocomial infections, can be avoided using non-invasive ventilation. The use of non-invasive ventilation in the critical care unit is increasing and it is rapidly becoming a key therapeutic tool and is expected to drive revenue growth of this segment as the trend continues.
Type Insights:
Based on type, the global ventilator market is segmented into adult/pediatric ventilators and neonatal/infant ventilators. The adult/pediatric segment accounted for larger revenue share in 2021 and is expected to continue to account for largest revenue share over the forecast period owing to increasing patient pol with chronic respiratory diseases such as COPD and asthma in the adult population, as well as increase in smoking of tobacco globally.
Neonates, infants, and small children are prone to breathing-related difficulties or disorders due to anatomic characteristics (small airway diameter) and specific respiratory mechanics (high resistance and low compliance), and also frequently suffer from infectious airway infections. Need for treatment and therapy of this section of consumer base is expected to increase and support revenue growth of the segment.
When compared to regulated ventilation modes, assisted ventilation modes (during which the patient has the option to trigger the ventilator) are more successful in improving patient comfort and limiting ventilator-induced diaphragmatic dysfunction. Assisted ventilation modes, notably Pressure Support Ventilation (PSV), are gaining popularity as an alternative to regulated mechanical ventilation.
End-use Insights:
Based on end-use, the global ventilator market is segmented into hospital & clinics, ambulatory care centers, home care settings, and Emergency Medical Service (EMS). The hospital & clinics segment accounted for largest revenue share in 2021. This can be is attributed to rise in hospital expenditure, which enables deployment and utilization of more advanced ventilators, availability of experienced and skilled healthcare workers in hospitals to operate these units, rising focus on better health outcomes owing to better infrastructure, increased focus on more modernized hospital infrastructure and offerings. In addition, a majority of patients require constant patient monitoring, and this is provided in hospitals, and some patients prefer hospitalization over home care settings, and this is a major factor supporting revenue growth of the hospital & clinics segment.
Home-care settings segment is expected to register a rapid revenue CAGR over the forecast period. Favorable government programs and initiatives aimed at reducing healthcare costs is steadily enabling easier access to home treatment for an increasing number of individuals who require or prefer this option. Another key factor driving market revenue growth is value-based healthcare. Medicare reimbursements in the U.S. are favorable with regard to value-based healthcare for better patient outcomes. As a result, in-home care has become a popular treatment option and the trend is expected to continue to gain rapid traction over the forecast period.
Regional Insights:
Ventilator market in North America accounted for largest revenue share in 2021 and this trend is expected to continue over the forecast period. This can be attributed to advanced and interconnected healthcare systems infrastructure, and increased consumer responsiveness to healthcare concerns, and rapid technological innovations in countries in the region. In addition, easy availability of diagnostics equipment, increased knowledge, training, and usage of advanced equipment and systems, significantly high number of patients with chronic respiratory diseases, and presence of a large number of major players are other key factors expected to continue to drive North America market revenue growth.
Ventilator market in Europe is expected to register a steady revenue CAGR over the forecast period. Government support and health insurance and cover in countries in Europe is a major factor driving market revenue growth. In 2019 for instance, government schemes provided financing for 28.2% of all healthcare expenditure in the EU, while compulsory contributory health insurance schemes and compulsory medical saving accounts accounted for 51.5%. This combined accounted for 79.7% of all financing. In addition, rapidly aging population in countries in the region and need for treatment of age-related diseases and conditions is another key factor expected to drive revenue growth of the Europe market over the forecast period.
Ventilator market in Asia Pacific is expected to register a significantly rapid revenue CAGR over the forecast period. This can be attributed to increased healthcare infrastructure investment, rising prevalence of chronic respiratory diseases and disorders in countries in the region, and preparation for eventuality of another COVID-19 waves. In addition, increasing focus and spending by governments in countries such as India and China on more modernized healthcare infrastructure and facilities and steadily expanding pools of patients with age-related diseases and chronic disorders are factors expected to continue to support revenue growth of the Asia Pacific market.
Competitive Landscape
Some major companies in the global ventilator market report include Koninklijke Philips N.V., Medtronic plc., Drägerwerk AG & Co. KGaA, General Electric Company, Allied Healthcare Products, Inc., Heyer Medical AG, Asahi Kasei Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Avasarala Technologies Limited., ResMed Inc. Nihon Kohden Corporation, Hamilton Medical AG.
On 18 May 2021, CorVent Medical obtained CE Mark clearance and began selling its RESPOND-19 Ventilator in Europe. The compact device works with any low-flow oxygen supply and has a number of operating modes with built-in safety features. The ventilator is designed to assist healthcare professionals in expanding their critical care ventilation capacity.
Segments Covered in the Report
This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each of the sub-segments from 2022 to 2030. For this study, Reports and Data has segmented the ventilator market based on product, interface, type, end-use, and region:
Ventilator Market Report Scope
Segments covered By Product Outlook, Interface Outlook, Type Outlook, Regional Outlook
By Product Outlook
Critical Care Ventilator
Neonatal
Transport & Portable Ventilator
By Interface Outlook
Invasive Ventilation
Non-invasive Ventilation
By Type Outlook
Adult/Pediatric Ventilators
Neonatal/Infant Ventilators
By End-use Outlook
Hospital & Clinics
Ambulatory Care Centers
Home Care Settings
Emergency Medical Services
Regional scope
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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