Global Mechanical Ventilator Market Report and Forecast 2024-2032

Global Mechanical Ventilator Market Outlook:

The global mechanical ventilator market size was valued at USD 4.7 billion in 2023, driven by the rising prevalence of chronic obstructive lung disease (COPD) across the globe. The market size is anticipated to grow at a CAGR of 8.5% during the forecast period of 2024-2032 to achieve a value of USD 9.8 billion by 2032.

Mechanical Ventilator: Introduction

Mechanical ventilators work like bellows to help move air in and out of the lungs. The physicians adjust the settings on the ventilator to control the frequency and volume of air pushed into the lungs. The patient might also be provided with a mask to receive air from the ventilator into the lungs.

Global Mechanical Ventilator Market Analysis

The growth of the market is driven by the increasing technological advancements and the efforts of the key players to develop new and upgraded solutions for increasing issues related to mechanical ventilators in healthcare facilities. The mechanical ventilator market demand is also driven by the FDA approvals of such developments. For instance, the FDA recently permitted Magnamed (a leading company that makes mechanical ventilators) to produce its portable emergency ventilator, Oxymag. The production will be done in Florida and is expected to start as soon as 2024. Magnamed is supported by the FAPESP, the São Paulo Research Foundation, a Brazil-based public foundation that supports research, education, and innovation.

In November 2022, Magnamed announced the launch of an innovative ventilator monitoring system based on respiratory muscle pressure (PMUS). Such innovations are expected to drive the global mechanical ventilator market growth as the rising demand is expected to be tamed as soon as the production of these mechanical ventilators starts in 2024.

Global Mechanical Ventilator Market Segmentations

Market Breakup by Product Type

• Critical Care
  • Ventilators
  • Accessories
• Neonatal
  • Ventilators
  • Accessories
• Transport and Portable
  • Ventilators
  • Accessories
• Others

Market Breakup by Mode

• Invasive

• Non-invasive

Market Breakup by End User

• Hospitals

• Home Healthcare

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Mechanical Ventilator Market Overview

The market growth is driven by the rising incidence of chronic obstructive pulmonary disease (COPD), coupled with the growing geriatric population. Continuous technological innovation is expected to drive the demand over the forecast period. Key market players are focusing on developing patient-friendly, cost-effective, and portable devices that can further encourage their usage, bolstering the global mechanical ventilators market growth. The increasing incidence of tobacco smoking related medical conditions is further contributing to market growth.

According to the World Health Organization, Cigarette smoking is a major risk factor for COPD. Cigarette smokers are considered to have a higher prevalence of respiratory symptoms and lung function abnormalities. According to the World Health Organization, Tobacco accounts for more than 8 million deaths each year, including an estimated 1.3 million non-smokers who are exposed to second-hand smoke.

Geographically, North America is expected to dominate the market in the forecast period owing to factors such as the increasing prevalence of respiratory disorders. The regional market is also driven by the presence of a well-established healthcare infrastructure coupled with the presence of key market players in the region.

Global Mechanical Ventilator Market: Competitor Landscape

The key features of the 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:

• Getinge AB

• Medtronic PLC

• Koninklijke Philips NV

• Smith’s Medical

• ResMed Inc.

• Dragerwerk AG & Co. KGaA

• GE Healthcare

• Mindray Medical International Limited

• Nihon Kohden Corporation

• Vyaire Medical Inc.

• Abbott

• Boston Scientific Corporation

• Biotronik

• ZOLL Medical Corporation

• Nihon Kohden Corporation

Please 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