Mechanical ventilators market to garner significant proceeds

8th July 2021
Lanna Deamer

Surging COVID-19 cases worldwide have triggered the adoption of mechanical ventilators significantly. Coronavirus is an infectious disease that has a direct impact on the respiratory system of the patient.

According to WHO report, April witnessed nearly more than 73,000 confirmed corona positive cases in France recording over 9000 fatalities. Thus, it is needless to mention that the outbreak of COVID-19 would augment the mechanical ventilators market over 2019-2026.

Adding to this, rising prevalence of vivid respiratory diseases would further stimulate the product demand in the ensuing years. As a matter of fact, over 65 million people suffer from COPD and nearly 3 million people succumb to death on an annual basis across the world. Moreover, ongoing technological advancements in ventilation systems and expanding healthcare spending would propel the industry outlook enabling it to exceed a valuation of $9bn by the end of 2026, in terms of revenue share.

One of the factors constantly driving the mechanical ventilators market expansion is the prolific rise in number of ICU beds in myriad healthcare settings worldwide. The proportion of ICU beds to hospital beds is comparatively definite across all economies excluding the US. In fact, the United States operates with a ratio of 9 to 10 ICU beds for every 100 hospitals beds. This dynamic rise in hospital beds would ultimately lead to a substantial increase in the industry share.

The worldwide mechanical ventilators market is fragmented into different segments and sub-segments that provide a comprehensive understanding on the performance of the industry across different verticals.

Considering the product segmentation, the mechanical ventilators market is categorised into portable and intensive care ventilators. The intensive care ventilators have been touted to grow significantly in the upcoming years.

For the record, the segment acquired a business share of $2.2bn in 2018. This growth is attributed to the rising occurrence of respiratory maladies and increasing patient pool across the old age group. Besides, a massive increase in number of hospitals has enunciated the need for more ICU beds, adding to the growing revenue scale of the market.

In terms of interface bifurcation, the mechanical ventilators market is divided into non-invasive and invasive ventilation. As per estimates, the non-invasive ventilation segment registered a remuneration of $1.6bn in 2018 and is further anticipated to grow profusely over the forecast years owing to its effectiveness in treatment of conditions like respiratory muscle weakness, cardiogenic pulmonary oedema, ventilator associated pneumonia, and multiple others. Also, the non-invasive ventilation stands as a mainstay therapy for patients with acute COPD.

Elaborating further, mechanical ventilators market from control mode ventilator sector is poised to grow at a CAGR of 18.5%. Reports suggest that the control mode ventilator market seized a considerable business share of 33% in 2018. The segmental growth can be ascribed to the product’s ability to evade high resistance early pressure peak, leading to an appreciable market growth in the near future.

Based on the end-use segmentation, the market is bifurcated into ambulatory surgical centres, hospitals, homecare, and others. Of these, the ambulatory surgical segment captured a market share of more than $650m in 2018 and is further anticipated to grow at an appreciable pace in the upcoming years. One of the prominent factors driving the segmental growth is the increasing number of surgeries demanding general anaesthesia.

Given the geographical landscape, Germany has been considered to stand tall in regional hierarchy of the mechanical ventilators realm. It has been reported that the region held significant market share in 2018 and is predicted to emerge as a lucrative growth ground for the global market by the end of 2026.

This can be accounted to the presence of large number of ICU beds and ventilators across the region. According to official sources, the region, as of April 2020, owned 28,000 intensive care beds along with 25,000 ventilators. The regional growth can also be attributed to the growing incidence of coronavirus cases in the country.

Some of the key players partaking in the global mechanical ventilators market include Hamilton Medical, Philips, Medtronic, GE Healthcare, and multiple others. These players have been engaging themselves in various strategic initiatives like M&As, and new product launches, to consolidate their market presence worldwide.

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