ICU Ventilator Market All stats, facts, and data till 2028

Posted February 27, 2023 by Urmila01

ICU ventilators market stood at USD 2001.624 million in 2022 and is anticipated to scale USD 3732.40 million by 2030, at a CAGR of 8.1% during the forecast period 2023 to 2030.

ICU ventilators market has been overseeing immense growth over the years as a result of technological innovations entering the market. These tech. innovations include improved portable ventilators and sensor technology which have flooded the market. Furthermore, technological impetus in molecular diagnostics coupled with a medley of joint ventures, collaborations and substantial partnerships have fueled ICU ventilator market. This will impart growth to the ICU ventilator.
The ventilator is a medical device which is used in ICU‘s to help patients breathe when they are short of breath and cannot breathe on their own. The equipment keeps the patient alive, but should not be confused for a device to treat disorders.
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Key Drivers
ICU ventilators are the largest product segment in the medical ventilators market. Mechanical ventilation is one of the most typical life-giving equipment used in the ICU. More than half of all patients admitted to the ICU require ventilation within the first 24 hours as acute respiratory failure, difficulty in breathing, or compromised lung function are witnessed among these patients. This will boost the demand for ICU ventilators during the forecast period.
An increase in the occurrence of Chronic Obstructive Pulmonary Disease (COPD), prevailing rise in the elderly population, and technological innovations are major factors likely to drive the market over the forecast period. The evolution of patient-friendly, cost-effective, and portable devices can further encourage their usage COPD and asthma are the most randomly occurring respiratory conditions across the world.
According to the WHO, COPD is the third leading cause of death globally, causing 3.23 million deaths in 2019. In November 2020, Philips introduced Ventilator BiPAP A40 Expiratory Flow Limitation (EFL), a noninvasive ventilator for COPD patients. With this, clinicians can detect EFL in hypercapnic COPD patients at the point of care, ensuring the delivery of optimal homecare therapy.
Increased demand for home healthcare is anticipated to have a favorable impact on the demand for icu ventilators in the coming years. The increased comfort and convenience coupled with savings in cost is projected to attract growth for icu ventilator market. Tech innovations are supposedly accounted to add growth to the emergency ventilator market.
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Key Restraints
The perils associated by using mechanical ventilators may prevent the sector from expanding. There is a risk of infection from germs entering through the artificial airway in ventilators. Additionally, repetitive opening and closing of the tiny air sacs within the lungs can cause lung damage. The intensive care unit (ICU) ventilators market is therefore expected to face challenges during the forecast period of 2023–2030 due to the difficulties connected with the use of devices.
By Region
In Asia Pacific, home ventilators are projected to amplify growth in ICU ventilator market in cognizance with saving lives that matters most, such as in the recent pandemic-like situations.
Key Players
Koninklijke Philips N.V. (Netherlands), Getinge AB (Sweden), ResMed (U.S.), Medtronic (Ireland), Fisher & Paykel Healthcare Limited (New Zealand), Avasarala Technologies Limited (India), Allied Healthcare Products, Inc. (U.S.),Shenzhen Mindray Bio-Medical Electronics Co., Ltd, (China), Drägerwerk AG & CO. KGAA (Germany), Nihon Kohden Corporation (Japan) and Asahi Kasei Corporation (Japan) amongst others
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Key Developments
In April 2020, InnAccel Technologies announced the introduction of a non-invasive ventilation system intended for use in ICU with COVID-19 patients.
Product Type
· High-End ICU Ventilators
· Basic ICU Ventilators
· Mid-End ICU Ventilators
· Adult Ventilators
· Neonatal Ventilators
· Pediatric Ventilators
· Combined-Mode Ventilation
· Volume-Mode Ventilation
· Pressure-Mode Ventilation
· Other
End User
· Hospitals
· Specialty Clinics
· Long Term Care Centres
· Rehabilitation Centres

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Last Updated February 27, 2023