Ventilators Market Research Report and Outlook by 2028

The ventilators market is projected to expand from US$ 4,617.00 million in 2021 to US$ 9,098.32 million by 2028, reflecting a compound annual growth rate (CAGR) of 9.0% from 2022 to 2028.

This growth is primarily driven by the increasing incidence of respiratory illnesses and the rapid rise in the elderly population. Nevertheless, the complications that can arise from ventilator use pose challenges to market expansion.

As life expectancy continues to rise, the proportion of the elderly population is also increasing. The World Health Organization (WHO) projects that the percentage of individuals aged 60 and older will increase from 12% in 2015 to 22% by 2050. This demographic shift has resulted in a higher prevalence of age-related health issues, which in turn escalates the demand for intensive care services, including mechanical ventilation. Older patients are increasingly seeking treatment in intensive care units (ICUs) that utilize mechanical ventilation (MV). Non-invasive ventilation (NIV) is emerging as a preferable option for elderly patients hospitalized for respiratory conditions. A study published in Medicina Intensiva, the journal of the Spanish Society of Intensive and Critical Care Medicine and Coronary Units (SEMICIUC), indicates that patients aged 75 and older have significantly higher requirements for mechanical ventilation in ICUs. Furthermore, aging is a key factor contributing to the rise in chronic degenerative diseases, with some age-related conditions necessitating ICU admissions. Consequently, the swift increase in the elderly demographic is driving the demand for ventilatory support, thereby propelling the global ventilators market forward.

The Growing Demand for Portable and Compact Ventilators with Advanced Features to Drive Future Market Growth

The advent of portable ventilators represents a significant technological innovation in the field. These devices enhance the safety of critical care transport by minimizing transport-related complications, ensuring patients reach their destinations safely, and allowing for precise control over tidal volume and respiratory rates. They also facilitate the monitoring of treatment times for medications, surgeries, and procedures, as well as oxygen levels, enabling rescue teams to cater to the needs of multiple patients. A portable ventilator is a lightweight, durable device equipped with oxygen and battery supplies, requiring minimal upkeep. These ventilators are cost-effective, user-friendly, and offer a variety of essential ventilatory modes. Below is a list of scenarios in which these ventilators are utilized:

• Initial transfer from an accident site
• Subsequent transfer between healthcare facilities
• Home ventilation
• Improvised intensive care settings, such as military field hospitals and civilian emergency plans.

Recent models of portable MRI ventilators boast significant enhancements in operational accuracy, along with features like integrated gaussmeters, superior monitoring capabilities, and advanced ventilation modes.

Insights Based on Mobility

The ventilators market is categorized based on mobility into intensive care ventilators and portable/transportable ventilators. In 2021, the intensive care ventilators segment held a larger share of the market. However, the portable/transportable ventilators segment is anticipated to experience a higher CAGR during the forecast period.

Insights Based on Clinical Indications

The market is also segmented according to clinical indications, including medical, trauma, neurological, surgical, and others. The medical segment represented the largest market share in 2021, while the neurological segment is projected to achieve the highest CAGR of 12.1% in the upcoming years.

Insights Based on Patient Demographics

The ventilators market is divided into adult and pediatric & neonatal segments. The adult segment accounted for a larger share in 2021 and is expected to grow at a higher CAGR of 9.4% during the forecast period.

Insights Based on Ventilation Modes

The market is segmented by ventilation modes, including combined mode ventilation, volume mode ventilation, pressure mode ventilation, neurally adjusted ventilatory assists (NAVA), inverse ratio ventilation (IRV), prone ventilation, high-frequency oscillatory ventilation (HFOV), high-frequency percussive ventilation (HFPV), and others. The combined mode ventilation segment held the largest market share in 2021 and is projected to register the highest CAGR of 10.2% in the forecast period.

Insights Based on Interfaces

The ventilators market is also divided into invasive and non-invasive interfaces. The invasive segment held a larger market share in 2021, but the non-invasive segment is expected to grow at a higher CAGR of 9.6% during the forecast period.

Insights Based on End Users

The market is segmented by end users into hospitals & clinics, home care, ambulatory care centers, and emergency medical services (EMS). The hospitals & clinics segment accounted for the largest market share in 2021 and is projected to achieve the highest CAGR of 9.5% during the forecast period.

Key sources referenced in the preparation of the report on the ventilators market include the World Health Organization (WHO), the Organization for Economic Cooperation and Development (OECD), the National Health Interview Survey (NHIS), the Centers for Disease Control and Prevention (CDC), the Global Cancer Observatory, the National Health Survey, and the Department of Emergency Medicine.