As per Intent Market Research, the Ventilators Market was valued at USD 4.8 billion in 2023-e and will surpass USD 7.9 billion by 2030; growing at a CAGR of 7.5% during 2024 – 2030. The ventilator market anticipates substantial progress in recent years, propelled by swift technological innovation and a rising demand for critical care equipment. Manufacturers are increasingly focusing on creating portable, compact, and user-friendly ventilators, ensuring accessibility across diverse healthcare settings.

Swift Technological Advancements for Essential Critical Care Equipment is Driving the Growth of the Market

The global rise in respiratory diseases, attributed to factors such as smoking, obesity, and lifestyle changes, is contributing to an escalating burden. According to the Regents of the University of California, the US witnesses approximately 4 million ICU admissions annually. In Germany, with around 2.1 million ICU admissions yearly, about 42.0% of patients necessitate mechanical ventilation.

Increasing Demand for Essential Critical Care Equipment to Drive the Market          

The ventilators market is driven by the rising need for accurate analysis of extensive datasets. In the pharmaceutical industry, where substantial biological and chemical data is generated, there's a critical demand for advanced technologies such as AI to efficiently process and analyze this information. AI tools, specifically machine learning algorithms, are instrumental in extracting valuable insights from intricate datasets, thus accelerating the drug discovery process.

Swift Technological Advancements to Drive the Ventilators Market

The market is poised for significant growth, driven by robust research & development in cardiovascular interventions and the introduction of innovative devices. Major players are investing in the development of more affordable and advanced mechanical ventilators. Notably, in November 2023, Inspiration Healthcare, a company dedicated to advancing specialist neonatal intensive care medical devices, launched the SLE1500, the latest addition of its specialized neonatal ventilator lineup.

Dominance of Intensive Care Ventilators segment to meet the Critical Healthcare Needs Aids in Market Growth

As of 2023, the intensive care ventilators segment held the significant portion of the ventilators market. The expansion of this segment is attributed to the increasing vulnerability of the elderly population to severe health issues, leading to an escalation in the number of patients requiring critical care. This surge in critical care patients subsequently fuels the demand for intensive care beds, contributing to the substantial growth of the intensive care ventilators in the market.

 Source: Intent Market Research Analysis

COPD, asthma, and aging demographics in adult to drive market growth

In 2023, the adult ventilators segment held the significant market due to the prevalence of chronic diseases such as COPD and asthma, escalating tobacco use, and the expanding geriatric demographic. Patients suffering from these conditions often display signs of acute respiratory failure, necessitating advanced respiratory support methods.

Invasive Ventilators have Major Impact on the Dynamic Ventilators Market Landscape

Invasive ventilators are the type of mechanical ventilators that involves inserting a tube into the patient's airway, typically through the mouth or nose or through a surgical opening in the neck. Invasive ventilators segment held the largest share in the 2023-e with growing number of ICU admissions. Invasive ventilators are commonly used in critical care settings, such as intensive care units (ICUs) or during surgeries where patients are under general anesthesia. They provide controlled and measured air pressure to support the patient's breathing, ensuring an adequate supply of oxygen and the removal of carbon dioxide.

Ventilator transforms COPD care ensuring controlled assisted breathing support

Chronic Obstructive Pulmonary Disease (COPD) segment is anticipated to witness significant growth during the forecast period. Ventilators play a crucial role in supporting COPD patients by delivering controlled and assisted breathing. In severe cases, where patients experience respiratory failure, ventilators provide mechanical support, ensuring an adequate and consistent supply of oxygen to alleviate breathing difficulties and enhance overall respiratory function in COPD individuals.

Higher adoption by hospital and clinics has led to the dominance of the segment in 2023

Hospitals and clinics are anticipated to dominate the market throughout the forecast period due to the increasing prevalence of patients with complex medical conditions such as multiple organ failure and severe sepsis. The segment's substantial share is driven by growing awareness of the benefits of mechanical ventilation, including enhanced patient outcomes and reduced mortality.

Pioneering Innovation in Ventilators by Start-Ups is Driving the Growth of Ventilators Market

Start-ups are developing cost-effective ventilators that operate efficiently with ambient air, eliminating the need for compressed medical air. These ventilators achieve 100% inspired oxygen with an oxygen source and feature a capacitive multi-touch interface for user control. ABM Respiratory Care, a start-up specializing in pulmonary disease solutions, introduced the 'Alpha Ventilator,' an internet-enabled device enabling remote ventilation. The company secured a notable USD 10.3 million in series A funding in October 2020.

Major industry players are enhancing their positions by actively developing ventilators market platforms

The market is characterized by intense competition due to the presence of numerous international and domestic players. The ventilators market, in particular, is dominated by key players such as ABM Respiratory Care, Airon, Baxter International, Bio-Medical Electronics, Drägerwerk, GE Healthcare, Getinge AB, Hamilton Medical, ICU Medical, Koninklijke Philips, Medtronic, Metran, Shenzhen Mindray, and Vyaire Medical amongst others. These industry leaders are primarily focused on acquiring smaller players and innovating their product lines to cater to changing consumer preferences and needs. The success of market players is heavily dependent on their ability to adapt to changing market trends and consumer preferences.

• In Jan 2022, ICU Medical acquired Smiths Medical from Smiths Group. This acquisition encompasses a range of products, including syringe and ambulatory infusion devices, vascular access, and vital care products, enhancing ICU Medical Inc.'s portfolio
• In October 2021, GE Healthcare collaborates with Apprise Health Insights to introduce Oregon's statewide capacity system to track 7,368 beds and approximately 800 ventilators across 60 hospital

Ventilators Market Report Coverage

The report provides key insights into the ventilators market, and it focuses on technological developments, trends, and initiatives taken by the government in this sector. The report delves into market drivers, restraints, and opportunities, and analyses key players as well as the competitive landscape within the market. The report offers the market size and forecasts for ventilators market in value (USD billion) for all the above segments.

Report Scope