Medical Ventilator Market

Medical Ventilator Market Outlook (2024 to 2034)

According to this updated Fact.MR industry analysis, the global medical ventilator market is approximated at a value of US$ 1.9 billion in 2024 and is projected to expand at a CAGR of 9.9% to reach US$ 4.8 billion by 2034.

• The North American medical ventilator market size is projected to reach US$ 1.2 billion by 2034.
• East Asia is estimated to hold 22.4% of the global medical ventilator market share in 2024.

Rising prevalence of chronic respiratory and cardiac ailments is pushing the demand for medical ventilators. Advent of microprocessor-controlled ventilation is one of the notable medical ventilator market trends in this space. Medical ventilators exhibited high demand during the initial phase of the COVID-19 pandemic to take care of severely infected patients.

As the COVID-19 pandemic took firm hold, healthcare providers across countries experienced a deluge of moderate to severely infected patients, putting a massive amount of strain on existing infrastructure. Major problem experienced in the beginning was the shortage of adequate ventilators. To address this shortage, key pharmaceutical and healthcare stakeholders collaborated to produce more ventilators, equipped with the latest technologies, to provide relief.

• In April 2020, the Imperial College of London designed the JAMVENT low-cost emergency ventilator, customized according to MHRA and FDA requirements.

Report Attribute	Detail
Medical Ventilator Market Size (2024E)	US$ 1.9 Billion
Forecasted Market Value (2034F)	US$ 4.8 Billion
Global Market Growth Rate (2024 to 2034)	9.9% CAGR
South Korea Market Share (2034F)	23.1%
Critical Care Medical Ventilator Demand Growth Rate (2024 to 2034)	9.9% CAGR
Key Companies Profiled	Becton Dickinson and Company; Smiths Group Plc.; Getinge AB; Cardinal Health Inc.; GE Healthcare; Drägerwerk AG & Co. KGaA; Leistung Equipamentos LTDA; Koninklijke Philips N.V; Hamilton Medical AG; Smith Medical Inc.; Air Liquide; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Fisher & Paykel Healthcare; Bunnell Incorporated.

Which Trends are Positively Influencing Sales of Medical Ventilators?

“Introduction of Microprocessor-Controlled Ventilation Systems to Offer Effective Care for Patients with Severe Respiratory Complications”

Upgraded ventilators are also primed for any kind of exigencies and have numerous checks and balances in place. Patient-specific parameters such as air pressure, air volume, and flow speed; and general parameters such as air leakage, mechanical failure, power failure, battery backups, oxygen tanks, and remote control are all managed by the integration of smart sensors and monitors.

Increasing integration of power semiconductor and bioelectronics technology is contributing to the development of advanced medical ventilators. Energy-efficient power semiconductors aid in providing long-lasting battery life. This has increased the use of innovative ventilators compared to traditional ones.

What Issues Do Medical Ventilation System Providers Face?

“High Cost Associated with Medical Ventilators and Strict Approval Procedures” 

High cost of advanced medical ventilators, especially the non-invasive ones, is lowering their adoption in developing countries. High price factor is set to lower their sales in budget-constraint healthcare infrastructures across the globe. In addition, absence of the required infrastructure to conduct the smooth operation of ventilators in several areas is further lowering their sales growth.

Stringent regulatory requirements leading to long approval times are also hindering global medical ventilator market growth. Time-consuming approval procedures are hampering the profits of key producers as several current opportunities are being missed by them.

How are New Companies Strategizing in This Competitive Space?

“Integration of Digital Technologies Leading to Development of Next-Gen Medical Ventilators”

New companies entering the medical ventilator industry are investing heavily in research and development for the production of advanced breathing devices. Integration of digital technologies such as artificial intelligence, machine learning, Internet of Things, Internet of Robotics, big data analytics, and predictive analysis in manufacturing processes is leading to the development of smart ventilation systems. These moves are benefitting new companies in earning more and standing out in the crowded market landscape.

• Umbulizer is a United States-based start-up that offers cost-effective portable ventilators. Its portable breathing device UMV-001 is easy to deploy in inter- and intra-hospital transport. This ventilator was developed in collaboration with critical care and pulmonary experts.
• AgVa Healthcare is an Indian start-up that manufactures ventilators that run on room air without the use of compressed medical air. These economical medical ventilators are controlled by a capacitive multi-touch interface. The gesture control option further simplifies its use.
• ABM Respiratory Care is a United States-based start-up that produces medical ventilation systems for pulmonary disease patients. The company’s Alpha breathing system can be connected to the internet for remote ventilation. Furthermore, utilization of advanced turbine technology aids in changing the ventilation mode from invasive to non-invasive or vice versa.

Country-wise Analysis

What is the Demand Outlook for Medical Ventilation Technologies in the United States?

“Rising Chronic Lung Disease Prevalence Driving Need for Advanced Medical Ventilation Systems”

Attribute	United States
Market Value (2024E)	US$ 200 Million
Growth Rate (2024 to 2034)	10.4% CAGR
Projected Value (2034F)	US$ 537.92 Million

• According to a study published by the National Center for Biotechnology Information, acute care hospitals in the United States owned approximately 62,000 full-featured mechanical ventilators before the pandemic. Out of these, 39% could be used to ventilate pediatric and neonatal patients.
• According to the American Lung Association Report, more than 34 million individuals in the United States are living with a chronic lung disease such as asthma or COPD (chronic obstructive pulmonary disease).

Mechanical ventilation is a vital component of critical services for patients with severe acute respiratory failure. Rising prevalence of chronic respiratory ailments is driving the use of medical ventilators in the United States. Improper food habits and high consumption of alcohol and tobacco products are leading to increasing cases of chronic lung disease.

Why Should Medical Ventilator Producers Invest in Japan?

“Improvements in Healthcare Policies and High Presence of Aging Population”

Attribute	Japan
Market Value (2024E)	US$ 100 Million
Growth Rate (2024 to 2034)	10.4% CAGR
Projected Value (2034F)	US$ 268.96 Million

Japan has a high population of senior citizens. This demographic is much more prone to chronic disorders related to cardiac and respiration. Technological advancements in non-invasive ventilators and supportive healthcare policies are further driving the sales of medical ventilators in Japan.

• According to the Report by CNN World published on 19 September 2023, around 1 in 10 people in Japan are of 80 or above age.
• The Respiratory Investigation report published by ScienceDirect on November 2023 estimated that Japanese COPD patients possess unique characteristics compared to Western patients, such as high male patient proportion, aging patients, and lower exacerbation frequency.

Category-wise Analysis

Which Type of Medical Ventilator Has Been Gaining Traction?

“Transport and Portable Medical Ventilators Widely Demanded in Long-term and Home Care Settings”

Attribute	Transport and Portable Medical Ventilators
Segment Value (2024E)	US$ 800 Million
Growth Rate (2024 to 2034)	10.4% CAGR
Projected Value (2034F)	US$ 2.2 Billion

Transport and portable medical ventilators are set to exhibit higher demand growth throughout the forecast period. This is set to be driven by the effectiveness of compact medical ventilators in various medical care settings. Rising demand for cost-effective, user-friendly, portable, and compact medical ventilation systems from long-term care and home care settings is set to create lucrative opportunities for transport and portable medical ventilator manufacturers.

Which Medical Ventilation Technology Offers Effective Medical Care?

“Non-invasive Ventilators Lifeline for Amyotrophic Lateral Sclerosis (ALS) Patients”

Attribute	Non-invasive Ventilators
Segment Value (2024E)	US$ 1 Billion
Growth Rate (2024 to 2034)	9.8% CAGR
Projected Value (2034F)	US$ 2.6 Billion

Non-invasive ventilators are estimated to capture a huge share of the global market. This can be attributed to their rising adoption in critical care units. Less pain for patients, increasing domiciliary usage, and precise delivery of controlled oxygen are some of the benefits associated with non-invasive ventilation. In the United States, amyotrophic lateral sclerosis (ALS) patients are treated using non-invasive medical ventilators.

Competitive Landscape

Key players in the medical ventilator market are embracing marketing approaches such as introduction of technologically advanced products, mergers, and acquisitions.

• In July 2023, Getinge received a clearance from the United States Food and Drug Administration (US FDA) for Servo-air® Lite. It is a wall gas, independent non-invasive mechanical ventilator.
• Philips Healthcare developed the Trilogy EV300 ventilator that delivers enhanced performance in non-invasive (NIV) and invasive (IV) ventilation. As such, patients can be treated with a single device throughout their hospital stay, regardless of changing conditions.

Fact.MR provides detailed information about the price points of key manufacturers of medical ventilators across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.

Key Segments of Medical Ventilator Market Research

• By Product Type :

  • Critical Care Medical Ventilators
  • Transport & Portable Medical Ventilators
  • Neonatal Medical Ventilators

• By Technology :

  • Invasive Medical Ventilators
  • Non-Invasive Medical Ventilators

• By End User :

  • Hospitals
  • Ambulatory Surgical Centers
  • Long-Term Care Centers
  • Home Care Settings
  • Emergency Health Services

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa