Market Research Report
Published: July 1, 2022
Global Industry Analysts, Inc.
Content info: 719 Pages
Delivery time: 1-2 business days
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Global Mechanical Ventilators Market to Reach $16.6 Billion by 2026
A Mechanical Ventilator (MV) is a device that provides breathing assistance to patients who are unable to do so by themselves, owing to certain medical conditions or serious injuries. Growth in the market is supported by rise in chronic respiratory ailments, such as Chronic Obstructive Pulmonary Disease (COPD), in both developed and developing economies. The prevalence of COPD and diverse respiratory diseases is increasing rapidly, mainly on account of lower air quality, in particular in countries with highly polluting industries. Market growth is also aided by increasing aging population, rise in chronic diseases, increase in critical care admissions, the launch of advanced new technologies and ventilation formats which checks lung injury, improved synchronization of patient and ventilator and lower hospitalization timeframe of patients. Technological advancement in the field represents a key demand driver for mechanical ventilators. Technological innovations are focused upon improving synchrony between the patient and ventilator; reducing the risk of lung injuries caused due to high inspiratory pressure; reducing alarm fatigue; and structural design improvements and more usage settings. Regulatory bodies expedited the process of giving approvals for ventilators to ease the shortage experienced due to the pandemic.
Amid the COVID-19 crisis, the global market for Mechanical Ventilators estimated at US$14.9 Billion in the year 2022, is projected to reach a revised size of US$16.6 Billion by 2026, growing at a CAGR of 9.2% over the analysis period. Intensive Care, one of the segments analyzed in the report, is projected to record 8.6% CAGR and reach US$12.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Portable/Transportable segment is readjusted to a revised 10.9% CAGR for the next 7-year period. The transportable mechanical ventilators market growth is driven by the requirement to provide treatment for critical care patients at point-of-emergency. Additionally, the growing practice of transferring patients with ventilator support from hospitals to alternate care is driving portable mechanical ventilators demand. Innovations in portability of devices, Positive Airway Pressure (PAP), and enhanced battery life of portable and transport devices are a strong growth driver for this market segment.
The U.S. Market is Estimated at $6.2 Billion in 2022, While China is Forecast to Reach $1.2 Billion by 2026
The Mechanical Ventilators market in the U.S. is estimated at US$6.2 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2026 trailing a CAGR of 12.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 9.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.9% CAGR. The US represents the largest market for Mechanical Ventilators. The market is mainly driven by enhanced healthcare infrastructure, adoption of newer technology, and improved reimbursement policies. Though ventilators is a mature market in industrialized regions, such as the US and Western Europe, aging population and continued increase in incidence of respiratory disorders and diseases, indicates that this market is unlikely to peter out anytime in the near to far future. Favorable government initiatives and expanding network of hospitals, untapped opportunities, and the growing number of intensive care units and neonatal intensive care units in hospitals, are propelling the growth of mechanical ventilators in developing regions.
Innovative Ventilators in the Spotlight
Technology advancements continue to create smaller ventilators that are more user-friendly and adaptable to pre-hospital environment. Pre-hospital use of innovative ventilation techniques such as CPAP, PAV, and BiPAP have been shown to significantly reduce mortality rates. Automatic transport ventilators with customizable settings for CPAP, PAV, and BiPAP would enable emergency care personnel to deliver respiratory support tailored to patients` specific needs. The use of a portable mechanical ventilator is the mainstay of critical care transport via ground as well as air. Benefits of automatic transport ventilator on advanced life support (ALS) ambulances are innumerable, and there has been a gradual introduction of the same in addition to ALS protocols in ambulances. The simplified ventilators provide more consistent volume than conventional positive pressure ventilation with bag-valve equipment, and allow emergency care personnel to attend to other patient-related tasks without involvement in manual ventilation. Prolonged manual ventilation is anyway harmful and increases the risk of patient mortality. Thus, the introduction of automatic transport ventilators into ambulances has the potential to result in better patient outcomes, especially during longer transport times from rural areas.
Adaptive Support Ventilation (ASV) is a novel dual-control mode technology that is designed to deliver predetermined rate of ventilation by combining automated adjustment of respiratory rate and tidal volume. The system utilizes High Frequency Oscillatory Ventilation (HFOV) to keep the lungs at a constant airway pressure and prevents inflate-deflate cycle of the lung, thereby protecting alveoli inside the lungs from damage. Furthermore, HFOV delivers small tidal volumes to the lungs at high frequencies to maintain minute volumes that aid better ventilation for patients and prevents further complications. ASV finds application to provide enhanced ventilation for patients with chronic respiratory disorders and for post-operative patients. ASV aids in reducing injury to the lungs caused by mechanical ventilation and also facilitates saving of manpower. Furthermore, ASV can be modified to suit the needs of adults, pediatrics, and neonates, both invasively and non-invasively.
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