The North America ventilator market is expected to reach US$ 3,181.15 million in 2027 from US$ 982.41 million in 2019. The market is estimated to grow with a CAGR of 13.3% from 2020 to 2027.
The growth of the North America ventilator market is driven by the high investments in R&D for new technologies and increase in contracts for manufacturing of ventilators. However, the complications associated with the use of ventilators are expected to hinder the market’s growth to a certain extent during the forecast period.
Ventilator is an automatic breathing system that transfers breathable air into and out of the lungs to provide oxygen to a patient is breathing insufficiently. The unit performs by adding oxygen to the bloodstream and removing carbon dioxide from the bloodstream. The device helps a patient suffering from respiratory problems get the right quantity of oxygen. It also helps patient's body to heal since it eliminates the extra energy of labored breathing.
With a growing prevalence of respiratory infections, the demand for ventilators is increasing. Thus, major market players in the US are primarily investing in the R&D for new technologies, which in turn, drives the growth of the market. According to the National Hospital Ambulatory Medical Care Survey in 2017, 923,000 patients, suffered from emphysema and other chronic obstructive pulmonary diseases. Additionally, as per the National Ambulatory Medical Care Survey in 2016, 5.7 million patients, suffered from emphysema and other chronic obstructive pulmonary disease. Increasing prevalence of the COVID-19 in the US is likely to grow the demand for ventilators during the forecast period. As per the data of Worldometer on August 27, 2020, there were 6,000,365 patients affected by COVID-19 and 183,653 deaths caused by COVID-19.
Due to the COVID-19 pandemic, respiratory devices companies under the Advanced Medical Technology Association (AdvaMed), an American medical device trade association in the US, increased their ventilator production from 700 ventilators per week to 2000–3000 ventilators per week, and is expected to reach 5000–7000 per week. Thus, the COVID-19 pandemic is propelling a high demand for ventilators, which is turn, bolstering the growth of the North America ventilator market.
Based on mobility, the North America ventilator market is further bifurcated into intensive care ventilators and portable/transportable ventilators. The intensive care ventilators segment held a larger share of the market in 2019, whereas the portable/transportable ventilators segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on type, the North America ventilator market is further bifurcated into adult/pediatric ventilator and neonatal/infant. The adult/pediatric ventilator segment held a larger share of the market in 2019, whereas the same segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on interface, the North America ventilator market is further bifurcated into invasive ventilator and non-invasive ventilator. The invasive ventilator segment held a larger share of the market in 2019, whereas the non-invasive ventilator segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on mode, the North America ventilator market is further segmented into combined mode ventilation, volume mode ventilation, pressure mode ventilation, neurally adjusted ventilatory assist (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 share of the market in 2019, also the same segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on end user, the North America ventilator market is further segmented into hospitals and clinics, home care, ambulatory care centers, and emergency medical services. The hospitals and clinics segment held the largest share of the market in 2019. Moreover, the same segment is estimated to register the highest CAGR in the market during the forecast period.
A few major primary and secondary sources included in the North America ventilator market report are Canadian Chronic Disease Surveillance System, National Hospital Ambulatory Medical Care Survey, and Worldometers.