Press Release

Mechanical Ventilators Market to Grow with a CAGR of 4.86% through 2028

Rising geriatric population and increasing prevalence of chronic conditions is expected to drive the Global Mechanical Ventilators Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Global Mechanical Ventilators Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Mechanical Ventilators Market stood at USD 3.74 Billion in 2022 and is anticipated to grow with a CAGR of 4.86% in the forecast period. The rising elderly population, coupled with the increasing prevalence of chronic conditions such as chronic obstructive pulmonary disease (COPD) requiring non-invasive ventilation, is expected to drive the growth of the Mechanical Ventilators Market. Furthermore, the growing incidence of asthma among children, adults, and the elderly will contribute to the expansion of the market during the forecast period.

The escalating prevalence of respiratory diseases is projected to fuel the growth of the Global Mechanical Ventilators Market in the coming years. For instance, according to the Global Initiative for Chronic Obstruction Disease 2018 report, chronic obstructive pulmonary disease is anticipated to cause approximately 4.5 million deaths worldwide annually by 2030. The exponential market demand for Mechanical Ventilators has witnessed a remarkable growth rate of 300% to 400% from 2019 to 2020. Moreover, the increasing healthcare expenditure and the rising incidence of chronic respiratory diseases among the elderly population are favorable factors driving market growth. The growing interest in non-invasive ventilation options, such as bilevel positive airway pressure (BiPAP) and continuous positive airway pressure (CPAP), has expanded the use of mechanical ventilators for respiratory support without the need for intubation.

As the global population ages, the prevalence of respiratory conditions, such as chronic obstructive pulmonary disease (COPD) and pneumonia, is increasing. Mechanical ventilators play a vital role in managing respiratory distress in elderly patients. Continuous advancements in medical technology have led to the development of more sophisticated and user-friendly mechanical ventilators. These improvements drive the adoption of newer models and upgrade of existing equipment.

Product innovation is a prominent trend that is gaining traction in the mechanical ventilator market. Companies are heavily investing in research and development to introduce new automated products that optimize frequency, assist control, and minimize ventilator workload. For instance, in January 2022, OES Medical, a UK-based manufacturer of anesthesia equipment and accessories, unveiled the Gemini-G100, an electrically driven piston ICU ventilator. This cutting-edge device is designed to support intensive care teams globally, particularly in settings where high-pressure oxygen gas supplies pose challenges. The Gemini-G100 operates solely on electric power, eliminating the need for additional oxygen supply within the hospital.

In March 2020, Masimo, a US-based medical technology company, executed a definitive agreement to acquire TNI Medical for an undisclosed sum. This strategic move enables Masimo to leverage TNI's innovative soft Flow technology, which delivers high-flow, humidified, and warmed respiratory gases to patients with critical pulmonary conditions. TNI Medical AG, headquartered in Germany, is a leading medical devices company.

The global mechanical ventilators market is being propelled by the continuous expansion of healthcare infrastructure and increased health expenditure. Notably, the improvements in medical infrastructure have contributed significantly to the growth of the ventilator market. The term health infrastructure refers to the comprehensive framework for planning, evaluating, delivering, and implementing public health improvements.

Browse over 26 market data Figures spread through 91 Pages and an in-depth TOC on "Global Mechanical Ventilators Market.”

One prominent trend in the global mechanical ventilators market is the growing number of product innovations. Companies are investing in research and development to develop new ventilator products that automate ventilation based on rate, support control, and time. For instance, OES Medical, a UK-based manufacturer of anesthesia accessories and equipment, introduced the Gemini-G100, an electrically driven ICU ventilator, in January 2022. The Gemini-G100 is designed to provide support to intensive care teams in locations where high-pressure oxygen gas availability is limited, without straining the hospital's oxygen supply, and relies solely on electricity.

Similarly, in January 2022, OES Medical participated in the ABHI UK Pavilion at Arab Health 2022 to unveil a new mains-powered ICU ventilator aimed at assisting hospitals in managing their oxygen demand. The increasing number of product innovations is expected to be a driving force behind the growth of the global mechanical ventilators market during the forecast period.

However, numerous risks associated with the utilization of mechanical ventilators pose a significant challenge to the growth of the global mechanical ventilators market. There are several complications that can arise from ventilator usage, including infections, pneumothorax (collapsed lung), lung damage, and the inability to discontinue ventilator support. Infections, particularly pneumonia, can be a critical concern, especially for ventilated patients. In some cases, the need for extended antibiotic treatment may require prolonged ventilator support. Additionally, there is a possibility of developing weak spots or holes in the lungs, resulting in lung collapse and potential loss of life.

Furthermore, the application of excessive pressure and high levels of oxygen during mechanical ventilation can potentially harm the lungs. Despite receiving appropriate treatment, there are instances where the underlying condition requiring ventilator support does not improve. At this point, healthcare professionals will engage in discussions regarding treatment preferences, including the decision to continue or discontinue the use of a ventilator. Consequently, the presence of various risks associated with mechanical ventilators is expected to pose a notable challenge to the growth of the global mechanical ventilators market during the forecast period.

The Global Mechanical Ventilators Market is segmented into product type, component, interface, end user, regional distribution, and company.

Based on the product type, the segment of Intensive Care Ventilators is anticipated to dominate the global market. Intensive care ventilators are utilized to provide ventilatory support to patients who have difficulty breathing autonomously or require assistance in maintaining suitable respiration. Intensive care ventilators can be employed for both neonates and adults, encompassing a wide range of conditions from critically ill to relatively stable postoperative patients. Owing to technical advancements and heightened focus from manufacturers in their development, the intensive care ventilators sector is projected to hold the majority of the market share.

Based on region, North America segment is expected to grow during the forecast period.  North America is projected to grow in global market growth during the forecast period. In North America, there has been a significant rise in the incidence and prevalence of various chronic diseases, including heart disease and cancer. The surge in chronic diseases has led to an increased demand for surgical interventions as part of comprehensive treatment plans. In certain cases, patients require admission to the intensive care unit for hours or days after surgery. Intensive care ventilators are employed in such situations to provide temporary ventilatory assistance to patients unable to breathe independently. The effects of general anesthesia administered during surgery persist for some time post-surgery, necessitating the use of ventilators for patients transferred to the intensive care unit. These factors are expected to drive growth in the North American ventilator market throughout the forecast period.

Major companies operating in Global Mechanical Ventilators Market are:

  • Getinge AB
  • Medtronic PLC
  • Koninklijke Philips NV
  • Smiths Medical
  • ResMed Inc.
  • Dragerwerk AG & Co. KGaA
  • GE Healthcare
  • Mindray Medical International Limited
  • Nihon Kohden Corporation
  • Vyaire Medical Inc.

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“Factors such as the rise in chronic obstructive pulmonary disease (COPD), the growth in incidences of respiratory disorders, and technological innovations are expected to drive market growth in the forecast period. The introduction of patient-friendly devices and the demand for medical assistance in home healthcare settings are encouraging the use of mechanical ventilators in the global market. Government initiatives and favorable policies for manufacturers in emerging economies are stimulating market growth. However, manufacturers are facing budget constraints, and irregular demand in developing and backward countries is creating challenges in the market.

Many vendors in the global mechanical ventilators market are focused on enhancing their production capabilities to meet the rising demand. Moreover, new entrants are capitalizing on this opportunity for increased demand. Several players in the global mechanical ventilators market are actively involved in research activities, demonstrating efforts to offer technologically advanced products. Additionally, partnerships and collaborations with private companies and governments are key strategies that will be prioritized during the forecast period. All these factors are driving the growth of the global mechanical ventilators market.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Global Mechanical Ventilators Market By Product Type (Intensive Care Unit/Critical Care, Transport/Portable/Ambulatory, and Neonatal Care), By Component (Devices and Services), By Interface (Noninvasive Ventilation and Invasive Ventilation), By End User (Hospital & Clinic, Home Care, and Ambulatory Surgical Center), By Region, By Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Mechanical Ventilators Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Mechanical Ventilators Market.


Mr. Ken Mathews
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