United States Ventilator Market Assessment, By Mobility, By Type, By Interface, By Mode, By End-user, By Region, Opportunities and Forecast, 2016-2030F

The United States ventilator market was valued at USD 1.7 billion in 2022, expected to reach USD 2.5 billion in 2030 with a CAGR of 4.8% for the forecast period between 2023 and 2030F. The United States Ventilator Market has witnessed significant growth in recent years, with the COVID-19 pandemic serving as a catalyst for growth and innovation. The pandemic highlighted the importance of ventilators in managing severe respiratory illnesses, leading to an exponential surge in demand that burdened the healthcare systems across the nation. This surge highlighted the need for increased ventilator production and accelerated advancements in technology and government-led initiatives. In response to this crisis, the government of the United States, through the Defense Production Act, collaborated with key manufacturers to increase the production and distribution of ventilators. Additionally, FDA (Food and Drug Administration) expedited approvals to ensure rapid access to ventilators. These efforts, coupled with advancements in portable and smart ventilators, have positioned the United States ventilator market for sustained growth, emphasizing the critical importance of ventilators in the evolving healthcare landscape. The factors that are driving the growth of the United States ventilator market are the increasing prevalence of respiratory diseases, the growing geriatric population, the growing demand for ICU (Intensive Care Unit), technological advancements, and government initiatives.

For instance, in August 2023, according to a partnership agreement, Medline, a manufacturer and distributor of medical supplies and devices in the United States, partnered with Israel-based respiratory device manufacturer Flight Medical, making its Flight 60 transportable ventilator exclusively available through Medline.

Increasing Prevalence of Respiratory Diseases & Growing Geriatric Population

The United States Ventilator Market is experiencing significant growth, driven by two key factors: the increasing prevalence of respiratory diseases and the growing geriatric population. The prevalence of respiratory conditions such as chronic obstructive pulmonary disease (COPD), asthma, and lung infections have been steadily on the rise. These ailments often require ventilators to assist patients with breathing, leading to an increased demand for these life-saving devices. Additionally, the aging demographic in the United States is a prominent contributor to the increased need for ventilators. The elderly population is more susceptible to respiratory issues, and as this segment grows, so does the requirement for ventilatory support. Post-operative care, critical care units for bed-ridden elderly patients, stroke and trauma patients require mechanical ventilation for breathing, also contributing to the demand for ventilators. Approximately 12.5 million Americans are impacted by COPD, leading to millions of visits to the emergency department and healthcare expenditures accounting for billions of dollars annually.

Technological Advancements

Ventilator technology innovations focus on improving patient comfort, mobility, and ease of use. Smart ventilators equipped with advanced sensors and connectivity features allow for remote monitoring and real-time adjustments by healthcare providers, enhancing patient care and reducing the burden on medical staff. Additionally, the integration of artificial intelligence and machine learning is enabling ventilators to adapt to individual patient needs, optimizing treatment and minimizing complications. Furthermore, the trend towards compact and portable ventilators is making these devices more versatile, allowing their use in various healthcare settings, including home care. Multimodal operations, pressure sensor technology, artificial intelligence, machine learning is being incorporated to enhance the functional outcomes of ventilators.

These technological breakthroughs are increasing the efficiency of ventilators and expanding their application, making them an essential part of the modern healthcare system. Luisa by Movair, stands out as one of the few home ventilators in the United States that offers both high-flow oxygen therapy and noninvasive ventilation. Remarkably lightweight at just 8 pounds, it provides the convenience of high-flow oxygen therapy for in-home use.

For instance, in January 2023, Getinge launched its new Servo-c mechanical ventilator targeting selected markets, offering lung-protective therapeutic tools to treat both pediatric and adult patients. Servo-c is a budget-friendly option that aims to serve as a high-quality sustainable solution. In March 2022, Max Ventilator launched multifunctional NIV ventilators with inbuilt oxygen, the device is priced at just 25 percent of the cost of traditional ventilators and can be used for adults and neonates, which makes it versatile.

Government Initiatives

Government initiatives have played an important role in propelling the United States ventilator market forward. In response to the urgent need for ventilators during the COVID-19 pandemic, the government of the United States implemented policies and financial support to increase domestic production and ensure an adequate supply of ventilators. The Defense Production Act was leveraged to expedite ventilator production, enabling manufacturers to scale up their capabilities rapidly. The government of the United States, under the Defense Production Act, paid Philips USD 646.7 million to deliver 2,500 ventilators to the Strategic National Stockpile by the end of May 2020. This was part of a larger initiative aiming to provide a total of 43,000 ventilators by the end of 2020. Additionally, government funding and contracts incentivized research and development efforts, creating innovative, cutting-edge ventilator technologies. These initiatives not only addressed immediate crisis needs but also strengthened the overall healthcare infrastructure.

Impact of COVID-19

COVID-19 has had a significant impact on the United States ventilator market. The pandemic led to an unprecedented increase in the demand for ventilators, as hospitals faced a sudden admission of severely ill patients struggling with serious respiratory issues such as pneumonia due to COVID-19. The United States ventilator market grew significantly in 2020, due to high number of patients requiring respiratory support from COVID-19 complications. The acute care and emergency services saw significant growth as well. The pandemic highlighted the critical role of ventilators in saving lives and managing respiratory distress. This surge in demand not only necessitated an increase in production but also encouraged innovations in ventilator technology, focusing on features like remote monitoring and adaptability to meet the diverse needs of patients. Additionally, the pandemic accelerated innovations in ventilator technology, emphasizing features like remote monitoring and adaptability to diverse patient needs.

Home Healthcare Segment Will Grow at the Fastest Rate in the Forecast Period

Home healthcare involves a range of medical services provided in the comfort of a person's own home to address injuries or illnesses. These services are known for their convenience and cost-effectiveness, often comparable to what hospitals or skilled nursing facilities provide. The elderly population in the United States is both substantial and steadily increasing. The home healthcare sector is expected to experience the most rapid expansion throughout the forecast period. Increasing government initiatives aimed at reducing healthcare costs by facilitating home healthcare services are fueling market growth. The adoption of value-based healthcare is another significant driver contributing to market expansion. In the United States, Medicare reimbursements offers incentives for delivering value-based healthcare, emphasizing improved patient outcomes at a reduced cost. Therefore, home-based care has become a preferred mode of treatment and is poised to demonstrate substantial growth in the foreseeable future.

Key Players Landscape and Outlook

The ventilator industry in the United States is dominated by well-established and promising market players that provide a variety of products and reliable services. Leading companies in the market, such as Koninklijke Philips N.V., Getinge AB, ResMed, Medtronic, etc., are witnessing high revenue growth.

These MedTech companies are developing novel products and solutions to help them expand their market. Including modern-day technologies like artificial intelligence and machine learning are a prime focus for these market players.

In July 2023, the FDA granted 510(k) clearance to Dragerwerk AG & CO. KGAA for their ventilator models, including Evita V600, V800, and Babylog VN800. Dragerwerk AG's goal was to create the Evita and Babylog device families in response to customer needs, ensuring mechanical ventilation that is both effective, safe and user-friendly.