Dublin, Dec. 20, 2021 (GLOBE NEWSWIRE) -- The "Mechanical Ventilators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The global mechanical ventilators market was valued at USD 6,490 million in 2020, and it is expected to reach USD 9,695 million by 2026, registering a CAGR of 7.5% during the period.
The impact of the COVID-19 pandemic on the mechanical ventilators market is positive because it has increased the use of mechanical ventilators in the management of the disease. For instance, according to a research study by Yang Wang et al., published in the American Journal of Respiratory and Critical Care Medicine February 2020, in China, 23 (65.7%) patients received invasive ventilation. A total of 134 (40.6%) patients were treated with mechanical ventilation (either non-invasive or invasive). Among them, 34 received treatment of non-invasive ventilation, whereas invasive ventilation was given to 100 patients.
Furthermore, as per the above source, the median duration from admission to invasive ventilation was five days, and the median duration of invasive ventilation was four days. This indicates there was a high demand for mechanical ventilators during the COVID-19 pandemic in 2020.
Globally, the increased geriatric population, coupled with higher incidences of chronic conditions, such as chronic obstructive pulmonary disease (COPD), are driving the market growth. For instance, according to the Global Asthma Report, in 2018, globally, chronic respiratory diseases affect more than one billion people. Additionally, asthma is one of the largest contributors to this figure, affecting children, adults, and elderly people. There is a high prevalence of severe asthma in the emerging markets of MEA and Latin America, as compared to the mid-range prevalence in North America, Europe, and Asia-Pacific.
Furthermore, recently, the COVID-19 outbreak has increased the demand for respiratory devices, like ventilators. For instance, in March 2020, Zoll Medical Corporation executed a plan to increase manufacturing capacity to 10,000 ventilators per month. This production volume expansion helped in the treatment of patients suffering from COVID-19 and may ultimately lead to market expansion.
Moreover, in March 2020, Koninklijke Philips NV established its production site in the United States to meet the increasing demand for ventilators during the COVID-19 pandemic.
In August 2019, Smiths Medical, a medical device manufacturer, entered a partnership with Medline Industries for the distribution of its portex devices. The partnership may focus on the non-acute, home care channels and expand their respiratory division market, globally. Thus, the factors mentioned above are expected to drive market growth over the forecast period.
Key Market Trends
- Intensive Care Ventilators Expected to Hold a Significant Share
- North America Dominates the Industry
Competitive Landscape
The mechanical ventilation market is moderately competitive. Some of the key players are manufacturing and launching new products, while others are distributing the ventilators, which is fueling the market growth. Some of the market players include Getinge AB, Medtronic PLC, Smiths Medical, Koninklijke Philips NV, and ResMed Inc., among others.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increased Prevalence of Chronic Obstructive Pulmonary Disease (COPD) and Respiratory Disorders
4.2.2 Increased Global Population, Increase in Number of Healthcare Centers and Hospitals with Rise in Demand for Minimally Invasive Procedures
4.3 Market Restraints
4.3.1 Highly Expensive Materials and Processes Involved in the Manufacture of Ventilators and Higher Cost of Healthcare Systems
4.3.2 Growing Incidences of Ventilator-associated Pneumonia
4.4 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Mobility
5.1.1 Intensive Care Ventilators
5.1.2 Portable Ventilators
5.2 By Interface
5.2.1 Invasive Ventilation
5.2.2 Non-Invasive Ventilation
5.3 By End-user
5.3.1 Hospitals
5.3.2 Home Healthcare
5.3.3 Other End-users
5.4 By Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Middle East and Africa
5.4.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Getinge AB
6.1.2 Medtronic PLC
6.1.3 Koninklijke Philips NV
6.1.4 Smiths Medical
6.1.5 ResMed Inc.
6.1.6 Dragerwerk AG & Co. KGaA
6.1.7 GE Healthcare
6.1.8 Mindray Medical International Limited
6.1.9 Nihon Kohden Corporation
6.1.10 Vyaire Medical Inc.
6.1.11 Zoll Medical Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/wuf1wj
