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Demand for Medical Ventilators Is Poised to Expand 2.5x by 2032
20 days ago
1 min read

Demand for Medical Ventilators Is Poised to Expand 2.5x by 2032

The market for medical ventilators is expected to grow 2.5 times to US$ 3.6 Bn between 2021 and 2031. With sales soaring quickly in the aftermath of the COVID-19 pandemic outbreak, the industry was valued at US$ 1.4 Bn in 2020. The rise in people with asthma and chronic obstructive pulmonary disease will have a significant impact on demand in the future.

The demand for medical ventilators is expected to increase significantly in the coming years, driven by factors such as the increasing prevalence of chronic respiratory diseases, the growing prevalence of coronavirus, the rising number of surgeries, and the increasing awareness of the need for medical ventilators. Additionally, technological advancements such as improved features, enhanced design, and improved user interfaces are also expected to fuel the demand for medical ventilators.

The growing demand for home care and the increasing number of hospitals and healthcare centers are also expected to contribute to the market growth. Furthermore, the rising demand for ventilators from the emerging countries such as India and China, is also expected to offer significant growth opportunities for the medical ventilator market.

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Key Companies

  • Becton Dickinson and Company

  • Cardinal Health Inc.

  • GE Healthcare

  • Koninklijke Philips N.V

  • Hamilton Medical AG

  • Smith Medical Inc.

  • Drägerwerk AG

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

Manufacturers are now focusing on boosting ventilator manufacturing capacity to meet the urgent global demand and stay competitive during the COVID-19 pandemic.

  • For instance, Philips Healthcare have developed the Trilogy EV300 ventilator that delivers enhanced performance in non-invasive (NIV) and invasive (IV) ventilation, so patients can be treated with a single device throughout their hospital stay, regardless of changing conditions.

  • Similarly, Switzerland-based Hamilton Medical has received FDA approval to bring its medical device, an MR compatible ventilator the HAMILTON-MR1, to the United States. The HAMILTON-MR1 features a gaussmeter that displays the magnetic field’s shape and strength around itself, helping clinicians to safely position the unit near the MRI scanner.

Key Segments Covered

  • Product Type

    • Critical Care

    • Transport and Portable

    • Neonatal

  • Technology

    • Invasive

    • Non-Invasive

  • End User

    •  Hospitals

    • Ambulatory Surgical Centres

    • Long Term Care Centres

    • Home Care Settings

    • Emergency Health Services