The global ventilators market size is expected to reach USD 26.37 billion by 2030, according to a new study by Polaris Market Research. The report “Ventilators Market Share, Size, Trends, Industry Analysis Report, By Product (Instruments/ Ventilator Machines, Accessories); By End-Use; By Interface (Invasive, Non-Invasive); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
A ventilator is a medical device that helps mechanical ventilation by assisting the patient’s lungs in inhaling oxygen and exhaling carbon dioxide. It treats patients suffering from respiratory illnesses such as COPD and other conditions such as brain injury, stroke, pneumonia, and neonatal respiratory distress syndrome.
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The need for ventilators has increased in recent years due to increased chronic respiratory illness owing to increased pollution and tobacco smoking. COPD is the third leading cause of death worldwide, with more than 500 million people living with the disease. The increasing demand has resulted in introducing and approving new ventilator products.
Various types of ventilators available in the market include face mask, mechanical ventilators, manual resuscitator bags, and tracheostomy. Mechanical and tracheostomy belong to invasive forms where tubes are inserted into the throat, whereas a face mask ventilator is a noninvasive form of the ventilator. A face mask ventilator is sufficient to improve the condition of patients with mild respiratory problems, but mechanical ventilation is necessary for severe cases.
Market Participants such as Resmed Inc., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Airon Corporation, Allied Healthcare Products, Inc., Nihon Kohden Corporation, Asahi Kasei Corporation, Vyaire Medical, Inc., Dragerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited, Air Liquide S.A, General Electric Company (GE Healthcare), Getinge AB, Hamilton Medical, Koninklijke Philips N.V., Avasarala Technologies Ltd, Metran Co., Ltd., Smiths Group plc, Ventec Life Systems, and aXcent medical GmbH are some of the key players operating in the global market.
For instance, BreathDirect received FDA emergency approval for its BDR-19 ventilator in March 2021. In March 2021, engineers from Loughborough University developed an innovative, cost-effective non-electric ventilator known as the ShiVent system to tackle the COVID-19 pandemic. The system has undergone trials in Nigeria and India, and now the team plans to commercialize the ventilator in Asia and Sub-Saharan Africa.
Polaris market research has segmented the ventilators market report based product, interface, end-use and region:
Ventilators, Product Outlook (Revenue - USD Billion, 2018 - 2030)
Ventilators, Interface Outlook (Revenue - USD Billion, 2018 - 2030)
Ventilators, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Ventilators, Regional Outlook (Revenue - USD Billion, 2018 - 2030)