Mechanical Ventilator Market growth driver analysis 2022 - 2030.

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.

Technical advancements such as rapid innovation in the field of Positive Airway Pressure (PAP) devices, portability, and improvement in battery life of transport and portable devices are the primary factors that encourage the usage of mechanical ventilators. In April 2020, InnAccel Technologies announced the introduction of a non-invasive ventilation system intended for usage in ICU with COVID-19 patients. This system was engineered and manufactured in India to treat patients with deteriorating hypoxemia. Besides, this system functions across numerous settings and clinical applications, without the necessity of continuous electricity, or a trained breathing therapist.

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. Critical care ventilators are majorly used in hospital intensive care units.
• 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.
• Hospitals are encouraging the usage of portable ventilators to provide convenient and faster care to patients from an ambulance to the hospital bed. Portable ventilators prompt the patients to adopt home care, hence increasing its popularity.

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.
• Consistent increase in the number of patients suffering from respiratory diseases is the main factor for the growth of the CPAP devices market. In the non-invasive ventilation mode segment, the CPAP accounted for over 35.0% share of the overall revenue.

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 availability of skilled health care providers to operate these ventilators, the increased emphasis on better health outcomes, and improved productivity of hospitals are contributing to the segment growth.
• 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 German manufacturer Drägerwerk AG & Co. received an order of around 10,000 ventilators from the government of the U.K., which is equal to its annual production capacity. Hamilton Medical has accelerated the normal production of some 15,000 mechanical ventilators annually by 30.0% - 40.0% and is now producing about 80 mechanical ventilators daily. This company shipped around 400 ventilators to Italy in March 2020.

Some prominent players in the Global 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 in Mechanical Ventilator Market Intelligence Study, published by Grand View Research.