Global Ventilators Market Size, Growth, Trends, Forecast: By Type: ICU, Portable; By Age Group: Adult, Pediatric, Neonatal/Infant; By Interface: Invasive, Non-invasive; Regional Analysis; Market Dynamics: SWOT Analysis; Patent Analysis; Grants Analysis; Clinical Trials Analysis; Funding and Investment Analysis; Supplier Landscape; 2024-2032

Global Ventilators Market Outlook

The global ventilators market size was valued at USD 4.19 billion in 2023, driven by respiratory-related issues and an increase in the geriatric population globally. The market is expected to grow at a CAGR of 10.3% during the forecast period of 2024-2032, with the values likely to rise from USD 4.62 billion in 2024 to USD 10.13 billion by 2032.

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Global Ventilators Market Overview

A ventilator is a medical device to support patients experiencing respiratory failure. Around 50,000 patients  need ventilators in the United States daily due to chronic illness. Many conditions such as chronic obstructive pulmonary disease (COPD), pneumonia and acute respiratory distress syndrome (ARD), can affect breathing and prompt the use of a ventilator. COPD affects approximately 250 million people worldwide, with 40% of the patients requiring ICU treatment. Consequently, the global demand for ventilators has also witnessed a significant upswing. Compared to invasive ventilators, the development and implementation of non-invasive ventilators have witnessed a surge, propelled by its success rate reaching up to 80% in specific patient population.

The ventilators market demand peaked during COVID-19 in 2020. Mechanical ventilation was commonly used for COVID-19 patients showing respiratory distress, with its implementation ranging from 12.2% to 33.1%,  according to a study conducted in the New York City region. The recent market trends indicate a steady growth in the ventilators market across the globe with key drivers being rising prevalence of respiratory issues and an increase in the aging population, along with the rise in technological advancements, research activities and FDA approvals.

Advancement in Ventilator Technology to Boost Ventilators Market Growth

The rise in research and development activities have resulted in the improvement of ventilator technology. The rapid advancement in the medical ventilator system has become one of the key drivers for boosting the ventilators market value. In September 2023, 42 Technology was appointed to design and develop the Exovent negative pressure ventilator (NPV) system  and bring it to the market by a United Kingdom based company called Portsmouth Aviation. Unlike traditional ventilators, the Exovent NPV system covers the patient’s torso and allows them to drink, eat, and talk normally even while being ventilated.

The shortage of ventilators has seen a rise in the development of non-invasive ventilators globally. A study published in Computers in Biology and Medicine in December 2023  has explored two most typical non-invasive patient circuits and worked to build the prototype of a non-invasive positive pressure ventilation system.

FDA Approvals for Non-Invasive Ventilators

The pandemic increased ventilators market demand and brought it under the spotlight. Subsequently, its criticality as a breathing aid pushed research and novel inventions. In July 2023, the U.S. Food and Drug Administration approved Getinge’s Servo-air Lite Ventilator  for providing non-invasive ventilation for patients needing enhanced breathing support. With its advanced features such as a durable battery backup, CO2 monitoring option, and its operation without wall gas, this product is expected to address the growth of the ventilator market in the United States.

Medical ventilators have a sophisticated ventilation system and researchers are trying to develop low-cost ventilators that show rapid response. Prominent healthcare companies and research institutes are trying to find solutions to address ventilation shortages, especially during emergency situations by working on innovative prototypes.

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Global Ventilators Market Segmentation

Market Breakup by Type

• ICU

• Portable

Market Breakup by Age Group

• Adult

• Pediatric

• Neonatal/Infant

Market Breakup by Interface

• Invasive

• Non-invasive

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Global Ventilators Market Regional Analysis

The United States boasts a technically advanced healthcare infrastructure and is predicted to hold the biggest ventilators market share in the coming years. Several pharmaceutical companies are employing the latest technologies to devise quality treatment options. In March 2023, Superior Sensor Technology  announced the development of pressure sensor technology that can reduce dyssynchrony (occurs when the ventilator system is not in sync with the patient’s breathing pattern) between the patient and the machine. This innovative approach speeds up system response time and reduces life-threatening situations.

Europe also holds a significant market value which can be attributed to its growing geriatric population. Further, the existence of major research institutes and healthcare companies plays a pivotal role in accelerating the growth of the market. In November 2023, Inspiration Healthcare , a medical technology company based in United Kingdom, launched SLE1500 which is a non-invasive ventilator for neonatal patients. This compact breathing system is specially designed for babies who need extra respiratory support.

The Asia Pacific region is also expected to witness a notable surge in the ventilators market size. This can be attributed to growing investments to improve healthcare infrastructure in order to meet the growing demand in the ventilators market.

Global Ventilators Market: Competitor Landscape

In August 2023, India's Technology Development Board (TDB-DST) pledged a partial funding of INR 3.94 Crores (USD 475k) to Noccarc Robotics Private Limited., an emerging technology driven healthcare startup, for their latest project worth of INR 7.89 Crores (USD 951k). The medical device company is aiming to commercialize its Digitally Enabled Advanced Universal ICU Ventilators. The product, Noccarc V730i, is a smart ventilator that allows access to the patient’s data via Noccarc’s digital platform. This indicates the ventilators market trend adopted by many companies to digitalize their medical devices and enable monitoring along with ICU data and workflow efficiency.

The key features of the ventilators market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Koninklijke Philips N.V.

• ResMed

• Medtronic plc

• Drägerwerk AG & CO.

• Nihon Kohden Corporation

• Getinge AB

• Asahi Kasei Corporation

• Air Liquide

• Vyaire Medical, Inc.

• Hamilton Medical

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.