Market Overview
The mechanical ventilator is an artificial breathing device that is used by patients who are unable to breathe naturally due to acute medical conditions. It is a life support system that helps patients breathe when they are unable to maintain adequate alveolar ventilation. A patient is connected to a ventilator through an endotracheal tube directly applied to the airway of a patient or NIV face mask.
Ventilators are often used during surgery when the patient is given anesthesia; respirators help to put patients to sleep without interrupting normal breathing. It also diagnoses airway resistance and irregular functioning of the respiratory system. The failure of ventilators may result in death so it is classed as a life-critical system and should be highly reliable. The device is used among patients who have had suffered a spinal cord injury, stroke or neuromuscular disorder or are suffering from a chronic obstructive pulmonary disease (COPD), apnea, acute lung injury or hypoxemia.
Market Dynamics
Drivers
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Increasing incidence of COPD
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Growing global demand due to the outbreak of COVID-19
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Technological innovations and advancements in portability and design
Restraints
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High cost of Mechanical ventilator
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Complexity of mechanical ventilation
Market Segmentation
The collective revenue of the stationary ventilator segment is expected to generate US$ 38,924.7 Million during 2019-2026.
The stationary ventilator segment holds 65.6% of the market share in 2018, and is expected to be 66.3% by 2026, for the global mechanical ventilator market. Decreased Mobility Patients tethered to a stationary mechanical ventilator are partially or totally immobilized.
Limited mobility brings physical discomfort, which leads to higher adoption of portable ventilators compared to stationary ventilators. Stationary ventilators differ from portable ventilators in terms of their size and flow rates. Stationary ventilators are generally larger and heavier when compared to portable ventilators and they offer higher flow rates and are often recommended for patients who need more oxygen.
Stationary ventilators are designed tobe used in a home environment. These concentrators come with wheels to be taken to different rooms of the house and can handle limited travel, but the focus of these models is reliability and flow, not portability.
Geographical Analysis
The North America segment of mechanical ventilator Market is valued at US$ 1,770.39 Million in 2018 and is estimated to grow at a CAGR of 6.33% over the forecast period to reach US$ 2,912.31 Million by 2026.
The North America segment holds 30.18% of the market share in 2018, and is expected to be 33.17% by 2026, for the global mechanical ventilator market by region. The US is the largest revenue contributor in North America due to increasing elderly population, rising prevalence of cancers, high R&D for cancer diagnostics, and development of innovative products by manufacturers in the region.
According to the Centers for Disease Control and Prevention (CDC), chronic diseases are the leading cause of death and disability in the United States. About 133 million Americans, i.e. 45% of the population have at least one chronic disease. Chronic diseases are responsible for seven out of every 10 deaths in the U.S., killing more than 1.7 million Americans every year. By 2025, chronic diseases will affect an estimated 164 million Americans. People with chronic conditions are the most frequent users of healthcare in the U.S. They account for 81% of hospital admissions; 91% of all prescriptions filled; and 76% of all physician visits.
In another instance, the American Cancer Society projected around 1,806,590 new cancer cases and 606,520 cancer deaths in the United States in the year 2020. Because of such a projection, accurate and fast diagnosis of such chronic diseases is needed to help diminish the high rate of mortality. Hence, there is a high demand for more advanced mechanical ventilators for the rising chronic diseases in this region.
Competitive Landscape
The key players in mechanical ventilators are Draeger, Vyaire Medical, Philips Respironics, Smiths Medical, Hamilton Medical , Medtronic, Plc, among others. 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.
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