Emergency Ventilator Market: Introduction
A ventilator, often termed as a mechanical ventilator, is a machine that helps patients breathe when they cannot breathe on their own. It is also known as a ‘breathing machine’ or ‘respirator’. A ventilator is a bedside machine with tubes that are inserted into the airways.
Increase in number of medical care units and ICU beds, rise in incidence & prevalence of chronic and infectious diseases, urbanization and growing pollution level, rapid increase in geriatric population, and increase in incidence of preterm births are expected to propel the global ventilators market.
The global emergency ventilator market is expected to expand significantly owing to an increase in lifestyle disorders. Increased work hours, sedentary work profiles, unhealthy eating habits, and addictions to harmful habits lead to a surge in target patient population worldwide. This, in turn, fuels the global market growth.
Rise in prevalence of respiratory diseases, COVID-19, increase in urbanization, pollution levels, and the high prevalence of tobacco smoking worldwide are key factors driving the market. Additionally, a rise in the demand for home care therapeutics and economic expansion witnessed in developing countries, such as China, India, and Brazil, are fueling the demand for ventilators.
Key Drivers, Restraints, and Opportunities of Emergency Ventilator Market
The market is primarily driven by growing concern among people about their wellbeing and safety. Ambulances are fitted with emergency ventilators that aid patients avail medical necessities on their way to the hospital. All these are factors drive the ventilator market; however, high cost of ventilators and their setup is likely to prompt people to prefer alternative oxygenation therapies. Furthermore, some complications are associated with the usage of ventilators. These factors are hampering the market.
According to Centers for Disease Control and Prevention, Chronic Obstructive Pulmonary Disease (COPD) is the fourth-leading cause of death in the U.S. Tobacco smoke causes major damage in the U.S.; however, 1 out of 4 individual with COPD has never smoked in his or her life. More than 140,000 U.S. citizens die of COPD every year, i.e., is 1 death every 4 minutes. COPD is a major cause of death, worldwide. It is expected to become the world’s third-biggest health threat by the end of 2020.
Rapid increase in the global geriatric population, rising incidence of respiratory diseases, and the cost-effective nature of home care devices and services are key factors driving the house healthcare market. This, in turn, fuels the demand for respiratory therapeutic devices such as ventilators. Moreover, the high growth potential in emerging markets, healthcare decentralization, and the evolution of miniaturized devices are additional factors that are expected to offer significant opportunities to players offering ventilation products and services for home care settings.
Low- and middle-income countries are far behind in respiratory care infrastructure for infants. Unavailability of particularizing ventilators for infants or the use of adult ventilators as an alternative to infant respiratory devices leads to numerous infant deaths. These countries also lack awareness about advancements in technologies and developments in neonatal ventilators, which also hampers the ventilators market.
Harmful effects of certain devices on neonates, maintaining component supply chains, and complications related to the utilization of mechanical ventilators are key factors that are expected to restrain the global market during the forecast period.
APAC to expand significantly during the forecast period
North America held a notable share of the global ventilators market in 2019. The market in the Asia Pacific region is estimated to expand at a prominent CAGR during the upcoming period. Rapid expansion of the healthcare industry in China and India and a rapid increase in COVID-19 patients is projected to drive the demand for ventilators in the near future. Key factors that estimated to boost the market in APAC are surge in the geriatric population, increase in accessibility to ventilators, rise in investments within the region by key market players, and presence of a favorable regulatory environment in the region.
The portable/transportable ventilators segment is projected to expand at a significant CAGR during the forecast period. Rise in prevalence of respiratory diseases, increase in preference for portable ventilators in homecare, and rise in applications of portable ventilators such as ambulatory services, emergency medical services, and residential care are driving the portable ventilators segment of the market.
Top Companies in Global Ventilator Market
The global coronavirus pandemic has put manufacturers under increased pressure to supply large numbers of medical ventilators — the subtle breathing circuits required by many critically ill patients.
Demand for ventilator devices is at an all-time high and companies are working round the clock to rapidly expand production
Philips has increased the production of ventilators to 2000 per week; earlier they used to produce 1000 per week. Hamilton Medical and Medtronic have increased production capacities of medical ventilators by 50% and 40%, respectively.
Major players operating in the global ventilator market are:
- Koninklijke Philips N.V.
- Medtronic plc
- Becton, Dickinson and Company
- Drägerwerk AG
- Smiths Group plc
- Hamilton Medical
- GE Healthcare
- Fisher & Paykel
- Air Liquide
- Zoll Medical Corporation
- Allied Healthcare Products, Inc.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Global Ventilators Market, by Mobility
- Intensive care ventilators
- High-end ICU ventilators
- Mid-end ICU ventilators
- Basic ICU ventilators
- Portable/transportable ventilators.
Global Ventilator Market, by Type
- Adult/Pediatric Ventilators
- Neonatal/Infant Ventilators
Global Ventilator Market, by Interface
- Invasive Ventilation
- Non-invasive Ventilation
Global Ventilator Market, by Mode
- Combined Mode Ventilation
- Volume Mode Ventilation
- Pressure Mode Ventilation
Global Ventilator Market, by End-user
- Hospitals and Clinics
- Home Care
- Ambulatory Care Centers
- Emergency Medical Services (EMS)
Global Ventilator Market, by Region
- Rest of Europe
- Australia & New Zealand
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.