Boost Your Mechanical Ventilator Market With These Tips

The demand for mechanical ventilators is rising rapidly owing to the outbreak of coronavirus (COVID-19) across the world. As coronavirus cases are increasing globally, there is a large demand for ventilators in hospitals and healthcare centers with increasing ICU bed admissions. 

To meet rising demand worldwide, all ventilator manufacturers are ramping up their production, analyzing the criticality of the situation, and even other companies such as various leading US-based car manufacturing companies are also considering manufacturing ventilators by teaming up with ventilator manufacturing companies to set up as many units as much as possible.

It is estimated that in April 2020 that over 900,000 ventilators were in demand worldwide, with a shortage of 80,000 in the U.S. alone. Major companies that provide the U.S. with the devices include General Electric Co., Medtronic PLC, Hill-Rom Holdings Inc., ResMed Inc., and Sweden's Getinge AB are adopting various strategies to meet the rising demand.

For instance, in the first three months of 2020, Drägerwerk AG & Co. KGaA saw a sharp rise, increasing by 116.7%. In the medical division, orders rose by 177.2%, driven primarily by demand for ventilators.

On March 30, 2020, Smiths Group made a contract with the UK Government for a significant ramp-up in the production of its life-saving Smiths Medical paraPAC plus™ ventilators. Production will rapidly increase from hundreds a month to thousands a month to fulfill 10,000 units in response to the UK Government’s challenge to UK technology and engineering businesses to help save lives in the coronavirus pandemic.

The hospitals and clinics segment market is valued at USD   2,181.8 Mn in 2018 and is estimated to grow at a CAGR of 5.5 % over the forecast period to reach USD  3,346.1 Mn by 2026.

The hospitals and clinics segment holds 37.2% of the market share in 2018 and is expected to be 38.1% by 2026, for the global mechanical ventilator market. Hospitals are the major end-users of mechanical ventilators compared to other end-users. Most mechanical ventilators are expensive, and hospitals can afford these devices as they have a sufficient budget for all their medical equipment when compared to other medical facilities. The increasing number of hospitalizations for acute and chronic conditions such as respiratory disorders and cardiac diseases are boosting the requirement for mechanical ventilators in hospitals and clinics.

According to the International Journal of Cardiovascular Science in 2017, coronary artery disease (CAD) accounted for approximately 250,000 hospitalizations. The high number of patients being admitted for respiratory conditions is compelling hospitals to spend more on these systems, leading to a rise in the revenue of mechanical ventilators.

The key players in mechanical ventilators are Draeger, Vyaire Medical, Philips Respironics, Smiths Medical, Becton Dickinson and Company, Ventinova, Medtronic, Plc. And Mindray Medical International Limited. The other players in the market include Tecme SA, ResMed Corp., and Fisher & Paykel Healthcare Limited.

Manufacturers of ventilators are currently ramping up production to meet demand during the COVID-19 outbreak, and companies such as GM, Ford, Dyson, Rolls-Royce, and Tesla are all beginning to look into how they can shift their manufacturing facilities to create ventilators.

In April 2019, Dräger received FDA 510(k) approval for Savina 300 SW 5.0, the latest in its line of Savina ventilators. The system offers advanced features such as automatic tube compensation (ATC) to aid clinicians in their daily workflow and improve patient comfort by reducing artificial airway resistance.

In September 2018, Royal Philips introduced its newest connected solution, Trilogy Evo, a portable life-support ventilator platform designed to stay with patients to provide consistent therapy and monitoring as they change care environments and when their condition changes. 

Also, in November 2018, the company received CE mark approval for its V60 Plus ventilator. This comprehensive solution expands on Philips’ noninvasive ventilation (NIV) gold-standard platform, integrating both NIV and high-flow therapy (HFT) in a single device.

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