Mechanical Ventilators Market Size (2024 - 2029)

Mechanical Ventilators Market Analysis

The Mechanical Ventilators Market size is estimated at USD 5.08 billion in 2024, and is expected to reach USD 6.47 billion by 2029, growing at a CAGR of 4.95% during the forecast period (2024-2029).

The rising prevalence of chronic obstructive pulmonary disease (COPD) and other respiratory ailments, combined with a growing elderly population and an expansion of hospitals and healthcare facilities worldwide, is driving the market.

As the burden of COPD and respiratory diseases escalates, the demand for mechanical ventilation is set to surge. Mechanical ventilation plays a pivotal role in aiding patients with compromised respiratory functions, ensuring they receive essential respiratory support and enhancing survival rates during critical moments. For instance, as per data from the Australian Institutes of Health and Welfare in July 2024 highlighted that in 2023, asthma accounted for 2.5% of the overall disease burden, making up 35% of the total burden for all respiratory conditions. Asthma was the leading cause of disease burden for children aged 1–9 years. In 2022, around 2.8 million Australians, or 11% of the population, were estimated to have asthma. Such a significant burden of respiratory diseases underscores the anticipated growth of the market.

Moreover, an August 2023 article in the ERS Journal forecasted that by 2050, COPD could affect around 645.6 million people globally (454.4 million men and 191.2 million women). This projected rise in COPD patients, a pressing public health concern, is poised to drive up the demand for mechanical ventilators, fueling the segment's expansion.

The global surge in healthcare centers and hospitals is set to amplify the market for mechanical ventilators. As new facilities emerge to address the rising healthcare demands, especially in light of the increasing prevalence of respiratory diseases, the market is likely to see significant growth. For instance, the American Hospital Association (AHA) reported that the U.S. had around 6,129 hospitals in 2023, a slight increase from 6,120 in 2022. This count encompasses a diverse range of establishments, including community hospitals and federal institutions. New healthcare facilities, often equipped with cutting-edge technology, are driving the adoption of modern mechanical ventilators boasting advanced features. Furthermore, the growth of healthcare infrastructure, spanning outpatient facilities to specialty clinics, amplifies the demand for mechanical ventilators.

New product launches and collaborations among industry players are energizing the mechanical ventilator market. For instance, in February 2024, Getinge unveiled its state-of-the-art Servo-c mechanical ventilator in India. Designed for both pediatric and adult patients, the Servo-c is equipped with vital lung-protective therapeutic tools to cater to diverse respiratory needs. As companies roll out innovative ventilator models, they frequently integrate advanced features like superior monitoring, portability, and intuitive interfaces, appealing to healthcare providers aiming to elevate patient care. This trend is expected to further fuel market growth.

Given the high burden of respiratory diseases, the expansion of healthcare facilities, and the introduction of new products, the market is poised for growth in the coming years. However, challenges such as costly materials and processes involved in ventilator manufacturing, coupled with the high expenses of healthcare systems and the rising instances of ventilator-associated pneumonia, could hamper the market growth.

Mechanical Ventilators Industry Segmentation

As per the report's scope, mechanical ventilation is an artificial breathing device used for patients who cannot breathe naturally due to acute medical conditions. These devices are used for patients with spinal cord injury, stroke, respiratory disorders, or other disorders.

The mechanical ventilators market is segmented by mobility, interface, end user, and geography. By mobility, the market is segmented into intensive care ventilators and portable ventilators. By interface, the market is segmented into invasive ventilation and non-invasive ventilation. By end user, the market is segmented as hospitals, home healthcare, and other end users. By geography, the market is segmented as North America, Europe, Asia Pacific, Middle East And Africa, And South America. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.