Rising cases of respiratory diseases, chronic obstructive pulmonary disease (COPD), sleep apnea, acute lung injury, and hypoxemia, surge in demand for ventilators due to Covid-19, technological advancements such as advanced portable ventilators & improvements in the sensor technologies used in ventilators are some of the key factors driving the global ventilators market.
The role of the lungs is to inhale and distribute the oxygen the cells need to survive, and exhale the carbon dioxide that the body needs to eliminate. In scenarios, when the act of breathing becomes difficult or not as effective at performing these functions then in those cases mechanical ventilation may be prescribed. Ventilators are medical devices that assist in patientâ€™s breathing.
Favourable Impact of Covid-19 on the Ventilators Market
During 2020-2021, most of the patients infected with the Covid-19 virus showcased moderate symptoms and recovered quickly. However, some patients developed severe respiratory failure and required intensive care unit (ICU) admission and mechanical ventilation. To treat and save the lives of these severe Covid-19 patients, ventilators served as a viable treatment option, which in turn boosted the global ventilators market.
â€œThe ventilator production was ramped up in response to the pandemic, but tailwinds for the ventilators, and ventilation masks are starting to ebb. While we continue to work on current and future contracts with hospitals, and national health authorities for ventilators, we expect the sales volume to shrink.â€- Director, Business Development, Leading Ventilator Manufacturer, United States
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The Demand for Critical Healthcare Services at Home Drives the Ventilator Market
Due to the fear of contracting the Covid-19 virus at a hospital, there was a surge in demand for home healthcare services such as home ICU, teleconsultations, home phlebotomy services, and e-pharmacy. The increased demand for critical healthcare services at home spurred the demand for respiratory machines such as ventilators, special beds, ICU, and multipara monitors. Some patients with lung-related illnesses preferred home healthcare services for oxygen & ventilator support and long-term rehabilitation.
Technological Advancements Drive the Ventilators Market Market
The ventilators market is a technology-driven market and is marked by constant product enhancements/innovations.
â€¢In January, 2022, OES Medical launched ICU ventilator at Arab Health 2022. The companyâ€™s Gemini-G100 is an electrically driven piston ICU ventilator with integrated oxygen concentrator for use in intensive care
Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold
The Ventilators market is marked by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as acquisitions, and new product launches to garner market share.
â€¢In April 2021, Getinge received FDA 510(k) clearance for three products to expand its Servo platform of ventilators. The firm secured clearances for new software options for the Servo-u and Servo-n ventilators, as well as clearance for use of the new Servo-u MR ventilator in the MRI room
The ventilators market is expected to continue to grow in the coming years due to growing cases of respiratory diseases, increasing number of preterm births, rising number of ICU beds, technological advancements in ventilators, and rising aging population.
Competitive Landscape Analysis of Ventilators Market
The global ventilators market is marked by the presence of players such as Philips, ResMed, Medtronic, Vyaire Medical, Asahi Kasei, Air Liquide, GE Healthcare, Fisher & Paykel, DrÃ¤gerwerk, Nihon Kohden, Getinge, Hamilton Medical, among others.
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