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Ventilator Market Size to Grow USD 6.4 Billion By 2030

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The global ventilator market was valued at USD 2.5 billion in 2020 and is expected to reach USD 6.4 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 10% during the forecast period 2021 to 2030.

 Crucial factors accountable for market growth are:

The rising prevalence of the chronic respiratory diseases among the population is boosting the growth of the global ventilator market. Chronic obstructive pulmonary disease (COPD), asthma, occupational lung disease, and pulmonary hypertension are the most common chronic respiratory diseases. The demand for the respiratory monitoring devices including the ventilators surged rapidly in 2020 owing to the rapid spread of the COVID-19 virus across the globe.

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Scope of the Ventilator Market

Report Coverage Details
Market Size USD 6.4 billion by 2030
Growth Rate CAGR of 10% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Companies Covered ACOMA Medical Industry Co., Ltd., Dragerwerk AG & Co. KGaA, MAQUET Holding B.V. & Co. KG., Bio-Medical Devices Intl, GE Healthcare, CareFusion Corporation, Bunnell Incorporated, Covidien, Teleflex Incorporated, Koninklijke Philips N.V.

Report Highlights

  • Based on the type, the adult segment dominated the market in 2020. The old age people are vulnerable to various chronic diseases and has increased chances of getting admitted to the ICUs for treatment. Therefore, the rapidly growing geriatric population is a major market driver.According to the United Nations, there were around 382 million old age people, aged 60 years or above, across the globe in 2017 ad this number is expected 2.1 billion by 2050. Hence, the growing geriatric population across the globe is the most prominent driver of this segment.
  • Based on the interface, the invasive segment dominated the market growth in 2020. This can be attributed to the increasing prevalence of chronic respiratory diseases like COPD. According to the WHO, the chronic obstructive pulmonary disease (COPD) caused 3.23 million deaths in 2019 and it is the third leading cause of death across the globe. Thus, the rising incidences of COPD and other respiratory diseases have significantly boosted the adoption of the ventilators in the past few years.
  • Based on the end user, the specialty clinics segment is estimated to be the most opportunistic segment during the forecast period. The rising preference of the people in adoption of the services of the specialty clinics owing to its conveniences and personalized services is expected to drive the growth of this segment. Moreover, rising disposable income and increased healthcare expenditure has resulted in the increased demand for the specialized and premium services offered by the specialty clinics.
  • North America dominated the global ventilator market in 2020. This is attributed to the increased number of ICU admissions in the region. As per the Society of Critical Care Medicine, over 5 million people get admitted to the ICU in US per year.
  • Asia Pacific is estimated to be the most opportunistic market during the forecast period. The rising pollution levels owing to the rapid urbanization and industrialization is expected to boost the number of respiratory diseases in the region.

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OBJECTIVES OF THE STUDY

  • To analyze and forecast the Ventilator market, in terms of value and volume
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, segment, and project the size of the global Ventilator market on the product type, end-use and other segments
  • To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
  • To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the Ventilator market

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Research Methodology

  • Market estimate for 2021
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Major Players Covered in this Report

The updated market research report on Ventilator market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

The major players operating in the market are ACOMA Medical Industry Co., Ltd., Dragerwerk AG & Co. KGaA, MAQUET Holding B.V. & Co. KG., Bio-Medical Devices Intl, GE Healthcare, CareFusion Corporation, Bunnell Incorporated, Covidien, Teleflex Incorporated, Koninklijke Philips N.V.

Segments Covered in the Report

By Type

  • Adult
  • Neonatal

By Interface

  • Invasive
  • Non-Invasive

By End User

  • Hospitals
  • Specialty Clinics
  • Others

By Mode

  • Combined Mode Ventilation
  • Volume Mode Ventilation
  • Pressure Mode Ventilation
  • Others

By Mobility

  • Intensive Care Ventilators
  • High-end ICU Ventilators
  • Mid-end ICU Ventilators
  • Basic ICU Ventilators
  • Portable/Transportable Ventilators

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