The global mechanical ventilator market size was valued at $2.99 billion in 2019 and is estimated to reach $12.54 billion by 2027 at a CAGR of 16.5% from 2020 to 2027. The transport/portable/ambulatory mechanical ventilators segment accounted for more than one-third of the market share in 2019, and is expected to exhibit fastest growth during the forecast period. North America and Europe, collectively, accounted for around 50% of the mechanical ventilator market share in 2019.
List of Key Players :
The report provides a Some of the key players operating in the mechanical ventilator market include Becton, Dickinson and Company (CareFusion/ Vyaire Medical Inc.), Carl Reiner GmbH, Draegerwerk AG & Co. KGaA, Getinge AB (Maquet Holding B.V. & Co. KG), General Electric Company (GE Healthcare), Hamilton Medical AG, Koninklijke Philips N.V., Medtronic Plc. (Covidien Ltd.), Mindray Medical International Limited, Smiths Group Plc., and Zoll Medical Corporation.
Presently, the global mechanical ventilator market is witnessing a rise in demand across the world, owing to rise in number of cases of COVID-19. In this health condition, oxygen levels drop as the virus attacks lungs of patients, which makes breathing process harder. Hence, they need external support for breathing such as mechanical ventilators. Consequently, rise in number of COVID-19 patients have propelled market players to increase or double production of mechanical ventilators, which further fuels the market growth.
Intensive care mechanical ventilators segment dominated the market in 2019, which is attributed to the increase in number of patients suffering from chronic diseases. The transport/portable ventilators segment is projected to grow with the highest from 2020 to 2027. This is attributed to the rise in demand for transport ventilators during emergencies and growth in adoption of easy-to-use portable mechanical ventilators for ease of geriatric patient population. The invasive mode segment occupied the largest share in 2019, and is anticipated to continue its dominance during the forecast period.
In 2019, adult population was the highest revenue generating segment in the market, owing to the rise in adult population who are prone to chronic respiratory diseases. However, the pediatric & neonatal segment is estimated to register fastest CAGR of during the forecast period, owing to rise in prevalence of neonatal mortality and need for convenient ventilation facilities for newborn and premature babies
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